Loading...
•
Dec 31, 2021
Privia Health Q4 2021 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2021.
Key Takeaways
Privia Health's Q4 2021 financial performance showed strong growth, with practice collections, care margin, and adjusted EBITDA exceeding the high end of the company's full-year financial guidance. The company also saw growth in implemented providers and attributed lives, and is expanding into new markets.
Total revenue for the fourth quarter of 2021 was $275.3 million, a 28.8% increase compared to the prior year fourth quarter.
Operating loss for the fourth quarter of 2021 was $19.3 million, compared to operating income of $4.2 million for the prior year fourth quarter.
Practice Collections for the fourth quarter of 2021 were $513.2 million, a 45.8% increase compared to the same period in 2020.
Implemented Providers for the fourth quarter of 2021 were 3,317, a 30.1% increase compared to the end of the fourth quarter of 2020.
Forward Guidance
Privia Health provided full-year 2022 guidance, reflecting management's expectations for growth from existing markets, recent market entries, new capitated agreements, and investments to support future growth.
Positive Outlook
- Implemented Providers between 3,625 and 3,725, representing a 9.3% to 12.3% increase from FY 2021.
- Attributed Lives between 860,000 and 890,000, representing a 9.4% to 13.2% increase from FY 2021.
- Practice Collections between $2.05 billion and $2.2 billion, representing a 26.1% to 35.3% increase from FY 2021.
- GAAP Revenue between $1.225 billion and $1.3 billion, representing a 26.8% to 34.5% increase from FY 2021.
- Adjusted EBITDA between $52 million and $56 million, representing a 25.6% to 35.3% increase from FY 2021.
Challenges Ahead
- 2022 guidance includes only previously announced new market entries.
- Adjusted EBITDA guidance includes approximately $4-6 million in spending/costs to invest in and support recent new market entry and value-based care initiatives.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...