Privia Health Group, Inc. (PRVA) Tops Q4 EPS by 11c, provides guidance

Privia Health Group, Inc. (NASDAQ: PRVA) reported Q4 EPS of $0.15, $0.11 better than the analyst estimate of $0.04. Revenue for the quarter came in at $440.8 million versus the consensus estimate of $426.53 million.

GUIDANCE:

Privia Health Group, Inc. sees FY 2024 revenue of $1.6-1.675 billion, versus the consensus of $1.913 billion.

2024 Financial and Business Outlook g h i

Privia Health’s key actions and areas of focus in 2024 include:

Increasing density and scale in existing geographies through organic provider growth;
Limiting downside-risk arrangements in a challenging Medicare Advantage (MA) market;

Renegotiating MA capitation arrangements for more favorable contract structures and margin contribution expected to reduce capitated practice collections by approximately $198 million year-over-year due to revenue recognition rules as 19,900 attributed lives move to upside/downside risk arrangements;
Exiting Delaware ACO (~12,000 attributed lives in the Medicare Shared Savings Program), effective January 1, 2024;

Achieving operating leverage to drive Adjusted EBITDA growth, and converting 80% of Adjusted EBITDA to Free Cash Flow (defined as net cash provided by operating activities less purchases of property and equipment); and
Continuing to pursue business development efforts to enter new states and increase overall addressable market.

For earnings history and earnings-related data on Privia Health Group, Inc. (PRVA) click here.

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