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Privia Health Group (PRVA)
NASDAQ:PRVA
Earnings Data
Report Date
May 07, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.06Last Year’s EPS
0.03Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial performance picture for 2025: robust provider and attributed lives growth, double-digit practice collections and care margin gains, significant adjusted EBITDA growth (38.8%), exceptional free cash flow generation in 2025, and a solid balance sheet (~$480M cash). Management provided constructive 2026 guidance (midpoint ~19.5% adjusted EBITDA growth, care margin up ~13%, and continued provider/lives expansion) while highlighting disciplined capital deployment and M&A (Evolent ACO acquisition adds ~120k lives). Key risks discussed include normalization of EBITDA-to-FCF conversion to ~80% due to becoming a cash taxpayer, quarter-to-quarter collections timing variability, payer/MA program uncertainty (REACH→LEAD), and integration/time risk for acquired ACO providers not yet on Privia’s platform. Overall, the positives—substantial growth, strong margins, high retention/NPS, and a strong cash position—outweigh the headwinds and execution risks mentioned.Company Guidance
Robust Provider Growth
Implemented providers reached 5,380 at year-end 2025, an increase of 591 providers or 12.3% year-over-year; sequential implemented provider growth was +130 from Q3 to Q4. Guidance midpoint for 2026 expects implemented providers to increase ~10.6% year-over-year.
Significant Expansion in Value-Based Lives
Value-based attributed lives totaled 1,540,000 at year-end 2025, up 22.7% year-over-year. Commercial attributed lives rose to ~910,000 (+>16% YoY); Medicare program lives increased 52%; Medicare Advantage +15%; Medicaid +23%. 2026 midpoint attributed lives guidance is ~1,580,000.
Strong Practice Collections Growth
Full-year practice collections were $3.47 billion, up 16.9% year-over-year. Q4 practice collections were $868.7 million, up 9.6% versus Q4 last year. 2026 midpoint guidance projects practice collections growth of ~6.6%.
Adjusted EBITDA and Margin Expansion
Adjusted EBITDA for 2025 was $125.5 million, up 38.8% year-over-year. Q4 adjusted EBITDA was $31.5 million, up 26.4% YoY. EBITDA margin as a percentage of care margin expanded ~480 basis points to ~27.2% for the year (Q4 reported ~27%).
Exceptional Free Cash Flow Conversion and Strong Cash Position
Conversion from EBITDA to free cash flow was 130% in 2025 (reflecting strong collections and timing benefits). Year-end cash balance was ~$480 million after deploying $180 million for transactions. Management expects to end 2026 with ~ $600 million in cash assuming no new BD deployment and guides to ~80% EBITDA-to-free-cash-flow conversion at the 2026 midpoint.
Strategic M&A and Geographic Expansion
Closed acquisition of Evolent Health’s ACO business on December 5, 2025, adding over 120,000 attributed lives and expanding presence; Privia’s national footprint now covers 24 states + DC. Entered Arizona with anchor partner IMS (implemented on platform end of Q3) and reports strong sales momentum in that state.
High Provider Retention and Patient Experience
Gross provider retention remained very high at 98%. Patient Net Promoter Score (NPS) was 87 across the footprint, indicating strong patient satisfaction and engagement.
Operational Leverage and Cost Discipline
Company demonstrated operating leverage with reductions in cost of platform and G&A; practice collections and platform contribution came in at the high end of 2025 guidance. Management expects continued G&A leverage in 2026 and margin improvement opportunities with technology/AI investments.
PRVA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PRVA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $22.65 | $24.91 | +9.98% |
Nov 06, 2025 | $25.02 | $23.98 | -4.16% |
Aug 07, 2025 | $19.78 | $19.51 | -1.37% |
May 08, 2025 | $23.32 | $25.07 | +7.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Privia Health Group (PRVA) report earnings?
Privia Health Group (PRVA) is schdueled to report earning on May 07, 2026, After Close (Confirmed).
What is Privia Health Group (PRVA) earnings time?
Privia Health Group (PRVA) earnings time is at May 07, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PRVA EPS forecast?
PRVA EPS forecast for the fiscal quarter 2026 (Q1) is 0.06.