Privia Health Group (PRVA) reported earnings on Mon 8 Nov 21 (b/o)

Sector(s): Healthcare
Industry: Health Information Services
Full Time Employees: 559
http://www.priviahealth.com
IPO: Thur Apr 29, 21

• Total revenue for the quarter grew ~21.4% YoY to reach $251.5M, with Practice Collections rising ~18.1% YoY to $401.5M.

• However, the company reported a net loss of $9.1M compared to ~$16.7M of net income in the previous year as general and administrative expenses more than trebled to $33.9M.

• “We expect to accelerate top-line growth and continue to expand our profit margin as we execute on our multiple market opportunities in the coming year,” CEO Shawn Morris remarked, noting a ~31.5% YoY increase in care margin and ~51.9% YoY rise in adj. EBITDA.

• For 2021, the company has raised its guidance with newly projected GAAP revenue standing at $900M – $920M, well ahead of $876.8M in the consensus.