Privia Health Group, Inc. ( (PRVA) ) has released its Q4 earnings. Here is a breakdown of the information Privia Health Group, Inc. presented to its investors.
Privia Health Group, Inc. is a technology-driven national physician enablement company that collaborates with medical groups, health plans, and health systems to optimize physician practices and improve patient experiences in both in-person and virtual settings.
Privia Health Group, Inc. reported its financial results for the fourth quarter and full year of 2024, showcasing strong performance across all operating and financial metrics, surpassing the high end of its guidance ranges. The company highlighted significant growth in new provider signings and maintained a robust cash balance with no debt.
Key financial metrics for 2024 included a 4.7% increase in total revenue to $1.736 billion, a 12.4% rise in gross profit, and a 19.8% increase in non-GAAP adjusted net income. Despite a decrease in net income and operating income, the company achieved a 25.2% growth in adjusted EBITDA and a 35.3% increase in net cash provided by operating activities. The company’s strategic focus on value-based care resulted in shared savings of $176.6 million through the Medicare Shared Savings Program, marking a 34.1% increase from the previous year.
Privia Health’s strong financial position is underscored by a year-end cash balance of $491.1 million with no debt, and a free cash flow of $109.3 million, representing a 35.4% increase year-over-year. The company’s 2025 guidance reflects continued momentum, with expectations of profitable growth despite challenges in the Medicare Advantage and value-based care environments.
Looking ahead, Privia Health aims to increase its provider density and scale in existing states, continue performing in value-based risk arrangements, achieve operating leverage to drive adjusted EBITDA growth, and expand its market presence through business development efforts. The company’s management remains optimistic about sustaining its growth trajectory in 2025.