📈 Price History

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About

Privia Health Group, Inc. operates as a national physician-enablement company in the United States.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding PRVA

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	776.5K	$16.0M	0.02%	Mar 2026
Steve Cohen Point72 Asset Management	137.6K	$2.8M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly used phrases like 'executed very well', 'strong first half', 'raised guidance to above the high end', and provided detailed explanations of the business model's resilience. Specific metrics were cited (e.g., 18.5% practice collections growth, 31.6% EBITDA growth) without hedging.

Q3 2025

Confident Specific

Management used phrases like 'continued to execute very well', 'momentum positions us for continued success', 'outstanding performance', and 'consistent long-term growth and profitability'. They raised 2025 guidance above prior ranges and highlighted specific metrics such as 27.1% practice collections growth, 61.6% adjusted EBITDA growth, and 720 bps margin expansion.

Q4 2025

Confident Specific

Management uses emphatic language such as 'very strong', 'outstanding operational execution', 'exceeded the high end of our updated guidance', and provides detailed numerical beats on key metrics like EBITDA growth of 38.8% and free cash flow conversion of 130%, reinforcing a tone of certainty and performance excellence.

Q1 2026 latest

Confident Specific

Management repeatedly used phrases like 'strong first quarter', 'outstanding operational execution', 'strong operating leverage', and 'feel confident about our annual guidance'. They cited specific 36.3% EBITDA growth and 290 bps margin expansion.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is strengthened by Q1 beat, raised attributed lives guidance, and continued margin expansion. Management’s consistent execution across cycles, diversified risk model, and strong balance sheet provide confidence. Key watch items next quarter: whether shared savings trends sustain, the pace of provider cross-sell from Evolent, and any guidance updates as the year progresses.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Privia Health Q1 2026: adjusted EBITDA $36.7M, 36.3% growth; providers 5,535, attributed lives 1.6M.

Revenue & Profitability

First quarter 2026 practice collections were $914.8 million, up 14.6% year-over-year. Adjusted EBITDA grew 36.3% to $36.7 million, with EBITDA margin as a percentage of care margin expanding 290 basis points to 28.5%. The company ended the quarter with $419.5 million in cash and no debt.

Outlook

Management sees positive demographic tailwinds for Medicare Advantage over the next 5–15 years and expects continued volume migration from health systems to outpatient settings. The company benefits from a diversified book that is resilient to payer program changes (e.g., V28) and seasonal utilization swings.

Growth Drivers

Growth is driven by strong provider signings (implemented providers +13.6% YoY) and attribution growth (total attributed lives +26.5% YoY). Commercial attributed lives rose 17%, CMS Medicare +62%, Medicare Advantage +20%, and Medicaid +36%. The Evolent ACO acquisition contributed to attribution and is ahead of integration schedule.

Balance Sheet & CapEx

Capital expenditure details were not explicitly disclosed, but the company expects to convert approximately 80% of full-year EBITDA to free cash flow. Investments are focused on AI across three buckets: corporate functions (Google Gemini, Snowflake Cortex AI), care center operations (prior auth, autonomous coding, care gap closure), and care delivery (clinical decision support).

Margins

Adjusted EBITDA margin as a percentage of care margin reached 28.5% in Q1, up 290 basis points year-over-year, driven by operating leverage and G&A cost control. Management reiterated its long-term target of 30–35% and believes AI advancements could push margins to the high end or beyond. Full-year 2026 guidance implies ~20% EBITDA growth.

Key Risks

Management flagged no material near-term risks in the call. Analysts inquired about medical cost trend (deemed consistent), weather/ respiratory impact (minimal due to diversification), and payer risk adjustments (managed through prudent accruals). Prior authorization reform was discussed but seen as more relevant to acute care than ambulatory settings.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-06

Strong provider and attributed lives growth drove double-digit increases in practice collections and EBITDA, with margin expansion and a raised 2026 outlook. Expansion into new markets and integration of recent acquisitions support continued growth, while robust cash flow and balance sheet provide flexibility.

Q1 2026 Q1 2026 2026-05-07

Q1 saw double-digit growth in providers, attributed lives, and collections, with adjusted EBITDA up 36% year-over-year. Guidance for 2026 is reiterated, except for a higher attributed lives range, and integration of recent acquisitions is ahead of schedule.

Q4 2025 Q4 2025 2026-02-26

Strong 2025 results exceeded guidance, with 16.9% Practice Collections growth and 38.8% higher Adjusted EBITDA. 2026 guidance projects continued double-digit growth, robust cash flow, and disciplined capital deployment, supported by recent acquisitions and technology investments.

Q3 2025 Q3 2025 2025-11-06

Strong Q3 results featured 61.6% adjusted EBITDA growth, robust provider and attributed lives expansion, and a raised 2025 outlook. The Elevance ACO acquisition will add 120,000+ lives and expand the national footprint, while free cash flow and cash reserves remain strong.

Q2 2025 Q2 2025 2025-08-07

Q2 2025 saw robust provider and attributed lives growth, record practice collections, and a 31.6% increase in adjusted EBITDA. Guidance for 2025 was raised above initial ranges, with strong cash flow and continued expansion into new markets like Arizona.

📊 Analysis Methodology

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Investment Risk:
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