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Mar 31, 2023
Privia Health Q1 2023 Earnings Report
Privia Health's financial performance for Q1 2023 was reported, featuring revenue growth and reaffirmed full-year guidance.
Key Takeaways
Privia Health reported a strong first quarter in 2023, with revenue increasing by 23.1% compared to the previous year. The company also saw improvements in gross profit and operating income, and reiterated its full-year 2023 guidance.
Total revenue for the first quarter of 2023 was $386.3 million, a 23.1% increase year-over-year.
Operating income for the first quarter of 2023 was $6.7 million, compared to an operating loss of $(11.5) million in the prior year first quarter.
Non-GAAP adjusted net income was $19.3 million, or $0.16 per diluted share, a 30.4% increase year-over-year.
The company reiterated its full-year 2023 guidance.
Privia Health
Privia Health
Privia Health Revenue by Segment
Revenue by Segment
FFS Patient Care Revenue
CapyFin.comFFS Admin Services Revenue
CapyFin.comCapitated Revenue
CapyFin.comShared Savings Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Privia Health reiterated its full-year 2023 guidance.
Positive Outlook
- Implemented Providers: 4,050 to 4,150
- Attributed Lives: 1,050,000 to 1,150,000
- Practice Collections: $2,700 million to $2,850 million
- GAAP Revenue: $1,550 million to $1,650 million
- Adjusted EBITDA: $70 million to $74 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income