Privia Health Q2 Revenue Falls Short of Estimates

Privia Health's Q2 revenue of $521.2M missed estimates of $467.0M, while adjusted EPS was $0.24 per share. The company has appointed Lance V. Berberian to its board of directors and updated its earnings guidance for the full-year 2025. Privia Health has also expanded into Arizona in partnership with Integrated Medical Services.

Privia Health (Nasdaq: PRVA) reported its second-quarter 2025 financial results, showing significant growth across key metrics. The company's total revenue increased by 23.4% to $521.2 million, exceeding estimates of $467.0 million. Practice Collections grew by 18.5% to $862.9 million, while Adjusted EBITDA surged by 31.6% to $29.0 million. The company also appointed Lance V. Berberian to its board of directors and updated its full-year 2025 earnings guidance.

Privia Health's Q2 performance highlights include a 13.8% increase in Implemented Providers to 5,125 and a 15.2% growth in Value-Based Care Attributed Lives to 1.38 million. The company's Platform Contribution increased by 21.3% to $57.5 million. Despite these strong top-line metrics, GAAP operating income declined by 34.6% to $3.3 million, primarily due to a $4.4 million increase in non-cash stock compensation expense year-over-year. This pattern is common in growth-stage healthcare companies investing heavily in expansion.

The company's adjusted EPS was $0.24 per share, missing estimates of $0.22. Privia Health's Q2 results demonstrate robust growth momentum across multiple fronts, positioning the company favorably in the ongoing healthcare transition from fee-for-service to value-based arrangements.

The company's strong performance has led to an expansion into Arizona, partnering with Integrated Medical Services (IMS) through an IMS transaction. This strategic move aims to capitalize on the growing healthcare market in the state. Privia Health maintains a strong balance sheet with $390.1 million in cash and no debt.

Privia Health raised its full-year 2025 guidance for Practice Collections, GAAP Revenue, Platform Contribution, and Adjusted EBITDA. The company's guidance now incorporates its Arizona market entry and maintains a strong cash position of $390.1 million with zero debt. The projection that at least 80% of Adjusted EBITDA will convert to free cash flow indicates strong underlying cash generation capabilities.

The company will host a conference call on August 7, 2025, at 8:00 am ET to discuss these results and management’s outlook for future financial and operational performance. Investors can access the webcast and replay at [Privia Health Investor Relations website](https://www.priviahealth.com/investors).

References:
[1] https://www.stocktitan.net/news/PRVA/privia-health-reports-second-quarter-2025-financial-jvddfu3i1xg0.html