From GlobeNewswire: 2025-02-27 06:00:00

Privia Health Group, Inc. exceeded all operating and financial metrics for 2024, with full-year net cash provided by operating activities at $109.3 million, a 35.3% increase from 2023, and a year-end cash balance of $491.1 million with no debt. New provider signings increased by 11.2% from 2023, showing continued growth and momentum despite challenges in the Medicare Advantage and value-based environment.

In the fourth quarter of 2024, Privia Health Group, Inc. reported total revenue of $460.9 million, a 4.6% increase from the previous year, with gross profit at $106.1 million. Operating income was $5.2 million, a significant improvement from the same period in 2023. Net cash provided by operating activities for the full year was $109.3 million, with free cash flow at approximately 121% of Adjusted EBITDA.

Key financial and operating metrics for Privia Health Group, Inc. in 2024 included 4,789 implemented providers, 1,256,000 attributed lives, practice collections of $2,968.0 million, a care margin of $403.9 million, and an adjusted EBITDA of $90.5 million. The company’s focus for 2025 includes increasing density in existing states, driving profitable growth, and achieving at least 80% conversion of Adjusted EBITDA to Free Cash Flow.

With a strong financial outlook for 2025, Privia Health Group, Inc. aims to continue its profitable growth trajectory by increasing implemented providers to 5,200-5,300, attributed lives to 1,300,000-1,400,000, and practice collections to $3,150-$3,250 million. The company expects minimal year-over-year increases in value-based shared savings accruals and de minimis capital expenditures for the year. Adjusted EBITDA is projected to be $105-$110 million, with at least 80% converting to free cash flow.



Read more at GlobeNewswire:: Privia Health Reports Fourth Quarter and Full-Year 2024