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Jun 30, 2022
Privia Health Q2 2022 Earnings Report
Privia Health's financial performance increased in Q2 2022, marked by substantial growth in practice collections and implemented providers.
Key Takeaways
Privia Health reported strong growth in Q2 2022, with a significant increase in practice collections, implemented providers, and value-based care attributed lives. The company's revenue and adjusted EBITDA also saw substantial growth compared to the prior year. Privia Health repaid all outstanding debt in the quarter.
Total revenue increased by 48.6% compared to Q2 2021.
Practice collections grew by 67.6% compared to Q2 2021.
Implemented providers increased by 31.5% compared to Q2 2021.
Value-based care attributed lives increased by 15.8% compared to Q2 2021.
Privia Health
Privia Health
Forward Guidance
Privia Health updated its full-year 2022 guidance.
Positive Outlook
- Implemented Providers: Mid-to-High End of the unchanged range (3,625 - 3,725)
- Attributed Lives: Midpoint of the unchanged range (860,000 - 890,000)
- Practice Collections: Mid-to-High End of the range ($2,050M - $2,200M)
- GAAP Revenue: High End of the range ($1,225M - $1,300M)
- Care Margin: High End of the range ($280M - $295M)
Challenges Ahead
- Platform Contribution: $137M - $142M
- Adjusted EBITDA: $57M - $60M
- 2022 guidance includes only previously announced new market entries.
- Capital expenditures expected to be less than $1 million in full-year 2022.
- Management has not reconciled forward-looking non-GAAP measures to their most directly comparable GAAP measures of operating income and net income.