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Jun 30, 2025
Privia Health Q2 2025 Earnings Report
Privia Health reported strong second quarter 2025 financial results, with significant growth across key operating and financial metrics, including a 23.4% increase in total revenue and a 31.6% rise in Adjusted EBITDA compared to the prior year.
Key Takeaways
Privia Health delivered a very strong performance in the second quarter of 2025, exceeding expectations with substantial growth in revenue, practice collections, and profitability. The company's strategic initiatives, including new provider additions and expansion into new markets, contributed to robust financial outcomes and led to raised full-year guidance.
Total revenue increased by 23.4% to $521.2 million in Q2 2025, up from $422.3 million in Q2 2024.
Adjusted EBITDA grew by 31.6% to $29.0 million, demonstrating strong profitability improvements.
Implemented Providers increased by 13.8% to 5,125, and Practice Collections rose by 18.5% to $862.9 million, indicating robust operational expansion.
The company raised its full-year 2025 guidance for Practice Collections, GAAP Revenue, Platform Contribution, and Adjusted EBITDA, reflecting confidence in continued growth.
Revenue by Segment
Forward Guidance
Privia Health raised its full-year 2025 outlook, expecting performance to be above the high end of previous guidance ranges for key financial metrics, including Practice Collections, GAAP Revenue, Platform Contribution, and Adjusted EBITDA. The guidance includes the impact of the Arizona market entry.
Positive Outlook
- Implemented Providers expected to reach the high end of the 5,200-5,300 range.
- Attributed Lives expected to reach the high end of the 1,300,000-1,400,000 range.
- Practice Collections guidance raised to above the high end of the $3,150-$3,250 million range.
- GAAP Revenue guidance raised to above the high end of the $1,800-$1,900 million range.
- Adjusted EBITDA guidance raised to above the high end of the $105-$110 million range.
Challenges Ahead
- Guidance assumes no other new business development activity beyond the Arizona market entry.
- De minimis capital expenditures expected, which could limit future organic growth opportunities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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