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Dec 31, 2024
Privia Health Q4 2024 Earnings Report
Privia Health's Q4 2024 financial performance exceeded expectations, with revenue and earnings showcasing substantial growth compared to the previous year.
Key Takeaways
Privia Health reported strong Q4 2024 results, exceeding guidance ranges with a 4.6% increase in total revenue to $460.9 million and a 55.0% increase in net income to $4.4 million. The company's implemented providers increased by 11.2% year-over-year, and adjusted EBITDA grew by 44.0% to $24.9 million.
Total revenue increased by 4.6% to $460.9 million.
Net income rose by 55.0% to $4.4 million.
Non-GAAP adjusted net income increased by 30.5% to $26.5 million.
Adjusted EBITDA increased by 44.0% to $24.9 million.
Privia Health
Privia Health
Forward Guidance
Privia Health projects continued momentum and profitable growth for 2025, focusing on increasing density in existing markets, performing in value-based risk arrangements, achieving operating leverage, and pursuing business development for market expansion.
Positive Outlook
- Increasing density and scale in existing states through organic provider growth.
- Continuing to perform in value-based risk arrangements for positive margin contribution in challenging Medicare Advantage (MA) market.
- Achieving operating leverage to drive Adjusted EBITDA growth.
- Converting at least 80% of Adjusted EBITDA to Free Cash Flow.
- Pursuing business development efforts to enter new states and expand in existing states to increase overall addressable market.
Challenges Ahead
- Guidance assumes minimal year-over-year increase in value-based shared savings accruals given current environment.
- Guidance assumes no new business development activity or capital deployment.
- De minimis capital expenditures expected in full-year 2025.
- Effective tax rate expected to be approximately 26-28%.
- Challenging Medicare Advantage and Value-based environment