-- Strong First Quarter Performance and Operating Execution -- Reiterated Full-Year 2026 Guidance Reflects Continued Momentum
ARLINGTON, Va., May 07, 2026 (GLOBE NEWSWIRE) -- Privia Health Group, Inc. (Nasdaq: PRVA) today announced financial results for the first quarter ended March 31, 2026.
Three Months Ended March 31,
----------------------------------
(unaudited; $ in
millions, except
per share
amounts) 2026 2025 Change (%)(*)
----------------- --------------- ---------------
Total revenue $ 603.8 $ 480.1 25.8%
Gross profit $ 125.6 $ 103.6 21.2%
Operating income $ 7.4 $ 5.2 42.2%
Net income (a) $ 3.1 $ 4.2 (27.4)%
Non-GAAP adjusted
net income (b) $ 24.3 $ 19.9 22.3%
Net income per
share $ 0.02 $ 0.03 (33.3)%
Non-GAAP adjusted
net income per
share (b) $ 0.19 $ 0.16 18.8%
* Any slight variations in totals are due to rounding.
a. Net income for the three months ended March 31, 2026, included $21.9 million in non-cash stock compensation expense. Net income for the three months ended March 31, 2025 included $17.8 million in non-cash stock compensation expense.
b. Reconciliations of non-GAAP adjusted net income and other non-GAAP financial measures are presented in tables near the end of this press release.
First Quarter 2026 highlights include:
-- Continued strength in same-store growth and new provider additions; -- Practice Collections of $914.8M, +14.6% versus 1Q'25; and -- Adjusted EBITDA c e f of $36.7M, +36.3% versus 1Q'25.
Key Operating and Non-GAAP Financial Metrics (c)
Three Months Ended March 31,
(unaudited; $ in
millions) 2026 2025 Change (%)
----------------- ------------- ------------
Implemented Providers 5,535 4,871 13.6%
Value-Based Care
Attributed Lives 1,606,000 1,270,000 26.5%
Practice Collections $ 914.8 $ 798.6 14.6%
Care Margin $ 128.7 $ 105.3 22.3%
Platform Contribution $ 67.0 $ 51.7 29.6%
Adjusted EBITDA $ 36.7 $ 26.9 36.3%
c. Reconciliations of Care Margin, Platform Contribution, Adjusted EBITDA and other non-GAAP financial measures are presented in tables near the end of this press release.
Updated Full-Year 2026 Guidance (d e f g)
Privia Health maintained its full-year 2026 outlook for most metrics, and raised its guidance range for Attributed Lives, as follows:
Initial FY 2026 Updated FY 2026
FY 2025 Guidance at 2.27.26(d) Guidance at 5.7.26
---------- ----------------------- ---------------------
($ in millions) Actual Low High
---------- ---------- ----------- ---------------------
Implemented
Providers 5,380 5,900 6,000 Unchanged
Attributed Lives 1,541,000 1,550,000 1,600,000 1,600,000 - 1,625,000
Practice
Collections $ 3,470.5 $ 3,650 $ 3,750 Unchanged
GAAP Revenue $ 2,122.8 $ 2,350 $ 2,450 Unchanged
Care Margin (d e
f) $ 462.2 $ 515 $ 530 Unchanged
Platform
Contribution (d
e) $ 234.8 $ 260 $ 270 Unchanged
Adjusted EBITDA
(d e f) $ 125.5 $ 145 $ 155 Unchanged
-- Expect approximately 80% of Adjusted EBITDA to convert to free cash flow
in full-year 2026
-- Guidance does not assume any new business development activity
d. Management has not reconciled forward-looking non-GAAP measures to their most directly comparable GAAP measures of Gross Profit, Operating Income and Net Income. This is because the Company cannot predict with reasonable certainty and without unreasonable efforts the ultimate outcome of certain GAAP components of such reconciliations due to market-related assumptions that are not within our control as well as certain legal or advisory costs, tax costs or other costs that may arise. For these reasons, management is unable to assess the probable significance of the unavailable information, which could materially impact the amount of the future directly comparable GAAP measures.
e. See "Key Metrics and Non-GAAP Financial Measures" for more information as to how the Company defines and calculates Implemented Providers, Attributed Lives, Practice Collections, Care Margin, Platform Contribution, and Adjusted EBITDA, and for a reconciliation of the most comparable GAAP measures to Care Margin, Platform Contribution, Adjusted EBITDA, Adjusted Net Income and Adjusted Net Income Per Share.
f. Certain non-recurring or non-cash and other expenses will be treated as an add back in the reconciliation of Net Income to Adjusted EBITDA, and the reconciliation of Net Income to Adjusted Net Income and Adjusted Net Income Per Share, the details of which can be found in the Reconciliation schedules near the end of this and in future quarterly press releases.
g. Any slight variations in totals due to rounding.
Webcast and Conference Call Information
The Company will host a conference call on May 7, 2026, at 8:00 am ET to discuss these results and management's outlook for future financial and operational performance. You can visit ir.priviahealth.com/news-and-events/events-and-presentations to listen to the call via live webcast. The webcast will be archived and available for replay for on-demand listening shortly after the completion of the call under the same link. If you wish to participate in the live conference call, then please dial 888-596-4144 (or 646-968-2525 for international callers) and provide Conference ID 5704885.
This news release and the financial statements contained herein, and the slide presentation for the webcast, are also available on the Privia Health Investor Relations website at ir.priviahealth.com.
About Privia Health
Privia Health$(TM)$ is one of the largest physician enablement companies in the United States with a presence in 24 states and the District of Columbia. Privia builds scaled provider networks with primary-care centric medical groups, risk-bearing entities, a physician-led governance structure, and the Privia Platform comprising an extensive suite of technology and service solutions. Privia collaborates with medical groups, health plans and health systems to optimize 1,300+ physician practices, improve the patient experience for 5.9+ million patients, and reward 5,500+ physicians and advanced practitioners for delivering high-value care.
Privia's mission is to transform healthcare delivery to achieve better outcomes, lower costs, and improve the health of communities and the well-being of providers. For more information, visit priviahealth.com.
Non-GAAP Financial Measures
The Company reports and discusses its operating results using financial measures consistent with accounting principles generally accepted in the United States ("GAAP"). From time to time, in press releases, financial presentations, earnings conference calls or otherwise, the Company may disclose certain non-GAAP financial measures. The non-GAAP financial measures presented in this press release should not be viewed as alternatives or substitutes for the Company's reported GAAP results. A reconciliation to the most directly comparable GAAP financial measure is set forth in the tables that accompany this release.
The Company believes that the non-GAAP financial measures presented in this press release are relevant and provide useful information to the Company's management, investors, and other interested parties about the Company's operating performance because the measures allow them to understand and compare the Company's actual and expected operating results during the prior, current and future periods in a more consistent manner. The non-GAAP measures presented in this press release may not be comparable to similarly titled measures used by other companies. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and reflect an additional way of viewing aspects of the Company's operations that, when viewed with GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provides a more complete understanding of the results of operations and trends affecting the Company's business. These non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to financial measures calculated in accordance with GAAP.
Safe Harbor Statement
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