PRVA earnings analysis
What we found in PRVA's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Privia Health Group, Inc. reported Q1 2026 revenue of $603.8 million, reflecting a significant year-over-year increase of 25.8% compared to $480.1 million in Q1 2025. However, the diluted EPS came in at $0.02, notably missing the estimated $0.22. The company raised its Attributed Lives forecast to a range of 1.6M-1.625M, while also highlighting challenges including stock compensation costs and the need for continued expansion of its provider base.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 25.8% YoY
- Revenue surged to $603.8 million in Q1 2026 from $480.1 million in Q1 2025.
- Operating Income Increased by 42.2%
- Operating income rose to $7.4 million compared to $5.2 million in the same period last year.
- Adjusted EBITDA Up 36.3%
- Adjusted EBITDA reached $36.7 million, up from $26.9 million in Q1 2025.
- Attributed Lives Forecast Raised
- Management raised the forecast for Attributed Lives to a range of 1.6M-1.625M.
- Platform Contribution Growth of 29.6%
- Platform Contribution increased to $67.0 million from $51.7 million year-over-year.
- Decrease in Net Income Noted
- Net income attributable to Privia Health Group decreased to $3.1 million from $4.2 million in the previous year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Stock Compensation Impact
- Stock-based compensation expenses rose to $21.9 million, impacting net income.
- Operational Challenges in Provider Expansion
- The company faces headwinds in expanding its provider network sufficient to meet projected revenue growth.
- High Dependence on Payer Contracts
- Revenue performance is reliant on retaining and renegotiating favorable terms with existing payer contracts.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.02
- Gross margin
- 20.8%
- Operating margin
- 1.2%
What they said about what is next.
Full-year 2026 revenue guidance reiterated at $2.35B to $2.45B.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 27, 2026
- Privia Health Group, Inc. reported total revenue of $2.12 billion for the year ending December 31, 2025, a significant increase from $1.74 billion in 2024. The company achieved a net income attributable to common…
- 10-Q · November 6, 2025
- Privia Health Group, Inc. reported a strong Q3 2025 with revenue of $580.4 million, representing a 32.5% increase year-over-year. The company also saw a substantial rise in EPS to $0.29 from $0.03, reflecting improved…
- 10-Q · August 7, 2025
- Privia Health's Q2 2025 results show robust revenue growth, driven by increased care volume and provider expansion. Revenue reached $521 million, up 23.4% from Q2 2024, while EPS exceeded estimates at $0.24. However,…
- 10-Q · May 8, 2025
- Privia Health Group, Inc. reported strong financial performance for Q1 2025 with revenues of $480.1 million, up 15.6% from Q1 2024. Gross margins remained robust at 87.6% and EPS increased to $0.22, beating estimates by…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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