Privia Health Group, Inc. (PRVA) Earnings
Privia Health Group, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $0.08. PRVA has beaten EPS estimates in 1 of its last 12 reported quarters (average surprise -19.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.08 | $0.02 | -75.0% | $604M | +7.6% |
| Feb 26, 2026 | $0.04 | $0.07 | +75.0% | $541M | -0.8% |
| Nov 6, 2025 | $0.06 | $0.05 | -16.7% | $580M | +12.4% |
| Aug 7, 2025 | $0.05 | $0.02 | -60.0% | $521M | +7.3% |
| May 8, 2025 | $0.06 | $0.03 | -50.0% | $480M | +4.7% |
| Feb 27, 2025 | $0.05 | $0.03 | -40.0% | $461M | -4.1% |
| Nov 7, 2024 | $0.05 | $0.03 | -40.0% | $438M | +4.1% |
| Aug 8, 2024 | $0.05 | $0.03 | -40.0% | $422M | -40.2% |
| May 9, 2024 | $0.05 | $0.02 | -60.0% | $415M | -41.0% |
| Feb 27, 2024 | $0.04 | $0.02 | -52.7% | $441M | -39.7% |
| Nov 3, 2023 | $0.05 | $0.05 | +0.0% | $417M | -42.9% |
| Aug 3, 2023 | $0.06 | $0.06 | +0.0% | $413M | -39.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Previa Health delivered a strong first quarter with growth across markets, having 5,535 implemented providers and 1.6 million value-based attributed lives. - Practice collections saw a 14.6% increase, and adjusted EBITDA rose 36.3% with a 28.5% care margin. - The company has a national presence in 24 states and the District of Columbia, with 5,535 implemented providers serving over 5.9 million patients. - Showcased strong operational execution and a diversified business model, with new provider signings and implementations remaining robust.
Guidance
- Maintaining the 2026 guidance overall, except increasing the range for attributed lives. - Expecting approximately 20% EBITDA growth at the midpoint of the guidance and converting about 80% of EBITDA to free cash flow. - Has a robust pipeline of existing market expansion and new market opportunities while leveraging a healthy balance sheet.
Segment performance
Implemented providers grew 13.6% year-over-year to 5,535, with 1.6 million value-based attributed lives up 26.5% year-over-year. Practice collections increased 14.6% to $914.8 million. Adjusted EBITDA increased 36.3% to $36.7 million, with EBITDA margin as a percentage of care margin expanding 290 basis points to 28.5%. National footprint includes 24 states and the District of Columbia, with 5,535 implemented providers caring for over 5.9 million patients. Commercial attributed lives increased more than 17% to 913,000, CMS Medicare programs lives up 62%, Medicare Advantage and Medicaid attribution increased 20% and 36% respectively.
Analyst Q&A
Q: Congrats on strong start to the year, about maintaining outlook and shared savings.
A: It's early in the year, the approach is to keep executing each quarter, with some ups and downs, and shared savings should grow if the trend continues.
Q: Perspective on Medicare Advantage.
A: MA has tailwinds due to demographic changes, focused on growing the MA book, prefers the shared risk model.
Q: Growth and M&A.
A: Business development pipeline is strong, looking at deals across a wide spectrum, with a broad platform for acquisitions.
Q: Specialty mix.
A: Is happening naturally, varies by geography, and is well-positioned to expand the specialty strategy.
Q: LEAD program.
A: Unlikely to move existing MSSP ACOs into LEAD, will evaluate the new program for new geographies.
Q: Commercial risk.
A: Converts fee-for-service to value-based, payers are willing to compensate for care management and shared savings.
Q: Technology.
A: The new CTO brings a great background, and they are excited about AI applications across the tech stack.
Q: Shared savings and Evelyn assets.
A: There's a mix of prior year and current year performance, and the Evelyn assets are performing well with integration progress.
Q: Sell-through of Privia platform.
A: It's early days, focusing on integration, and sales cycles take time.
Q: Repurchase of NCI and ambulatory utilization.
A: The repurchase leads to better cash flow, and ambulatory utilization is diversified with no major swings.
Q: Cash and buybacks.
A: Guidance on cash and free cash flow, with a preference to compound the business through acquisitions.
Q: Implemented provider growth.
A: Varies by market and specialty, provider-to-provider referrals are strong, and visibility is over 90% at year end.
Q: Acute care hospitals.
A: Pressures on health systems bode well for Previa as physicians look to outpatient settings.
Q: Medicaid and capitated profitability.
A: Capitated profitability had prior year adjustments, and Medicaid growth is organic with a value-based strategy.
Q: Medicare Advantage and risk.
A: Reimbursement isn't massively increasing, prefers a shared risk arrangement for sustainable earnings.
Q: Prior authorization.
A: Not a big impact on the business, payers and providers are aligned for patient care.
Q: Medical cost trends and risk appetite.
A: Medical cost trends are consistent, and the risk appetite is consistent with a prudent approach.