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Jun 30, 2021
Privia Health Q2 2021 Earnings Report
Privia Health's financial performance for Q2 2021 reflected revenue growth and strategic investments.
Key Takeaways
Privia Health reported a revenue of $225.8 million for the second quarter of 2021, a 23.2% increase compared to the previous year. The company experienced an operating loss of $193.2 million and a net loss of $172.5 million, primarily due to non-cash stock compensation expenses related to its IPO. Excluding these expenses, non-GAAP adjusted net income was $10.4 million, or $0.09 per diluted share.
Total revenue increased by 23.2% year-over-year, reaching $225.8 million.
Operating loss was $193.2 million, impacted by IPO-related non-cash stock compensation expenses.
Non-GAAP adjusted net income was $10.4 million, or $0.09 per diluted share, a 69.0% increase year-over-year.
Key operating metrics showed strong growth, including a 30.3% increase in practice collections, a 33.7% increase in care margin, and a 43.0% increase in adjusted EBITDA.
Privia Health
Privia Health
Forward Guidance
The Company is providing the following update to its full year 2021 guidance:
Positive Outlook
- Implemented Providers: 2,850 to 2,900
- Attributed Lives: 730,000 to 750,000
- Practice Collections: $1,445 million to $1,465 million
- GAAP Revenue: $860 million to $880 million
- Adjusted EBITDA: $34 million to $38 million