PRVA

MKT CAP:$3B

Privia Health Group, Inc.

Market Cap

$3B

Healthcare·Medical - Healthcare Information Services·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$24.02+$0.56 (+2.39%)

Apr 17, 2026

Company Details

Privia Health Group, Inc. operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences,...

CEO

Parth Mehrotra

IPO Date

Apr 28, 2021

Website

www.priviahealth.com

Key Metrics TTM

Revenue

$2.0B

+20.3% YoY

Net Income

$24M

EPS (Diluted)

$0.18

Free Cash Flow

$187M

Revenue / Share

$15.65

Gross Margin

9.8%

Operating Margin

1.8%

Net Margin

1.2%

FCF Margin

9.2%

P/S

1.5x

P/E

125.1x

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Feb 27, 2026

$2.1B+22.3%EPS $0.18

Q4 2025

Feb 27, 2026

$541MEPS $0.07

Q3 2025

Nov 6, 2025

$580M+32.5%EPS $0.05

Q1 2025

May 8, 2025

$480M+15.6%EPS $0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$226M	-$13M	-$193M
Q3 21	$252M	$26M	-$13M
Q1 22	$314M	$30M	-$12M
Q2 22	$336M	$34M	-$5M
Q4 22	$364M	$37M	$2M
Q1 23	$386M	$39M	$7M
Q2 23	$413M	$41M	$7M
Q3 23	$417M	$42M	$6M
Q4 23	$441M	$39M	$1M
Q1 24	$415M	$41M	$823.0K
Q2 24	$422M	$43M	$5M
Q3 24	$438M	$45M	$6M
Q1 25	$480M	$46M	$5M
Q3 25	$580M	$61M	$14M
Q4 25	$541M	$47M	$11M

Valuation

Quarter	P/S	P/E
Q2 21	—	—
Q3 21	—	—
Q1 22	—	—
Q2 22	2.6x	—
Q4 22	2.4x	—
Q1 23	2.1x	—
Q2 23	2.0x	135.8x
Q3 23	1.9x	78.2x
Q4 23	1.8x	128.9x
Q1 24	1.8x	158.7x
Q2 24	1.8x	199.2x
Q3 24	1.7x	231.9x
Q1 25	1.7x	209.3x
Q3 25	1.5x	164.5x
Q4 25	1.5x	125.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$7M	$7M
Q3 21	$63M	$62M
Q1 22	-$5M	-$5M
Q2 22	$7M	$7M
Q4 22	$29M	$29M
Q1 23	-$13M	-$13M
Q2 23	$8M	$8M
Q3 23	$22M	$22M
Q4 23	$64M	$64M
Q1 24	-$33M	-$38M
Q2 24	$34M	$34M
Q3 24	$33M	$33M
Q1 25	-$24M	-$24M
Q3 25	$52M	$51M
Q4 25	$128M	$128M

Capital Expenditures

Quarter	CapEx
Q2 21	$199.0K
Q3 21	$197.0K
Q1 22	$34.0K
Q2 22	$39.0K
Q4 22	$15.0K
Q1 23	$0
Q2 23	$72.0K
Q3 23	$18.0K
Q4 23	$23.0K
Q1 24	$5M
Q2 24	$0
Q3 24	$0
Q1 25	$0
Q3 25	$1M
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+61.4%	-13.6%
Q1 23	+53.6%	+43.6%
Q2 23	+31.7%	+24.9%
Q3 23	+24.4%	+20.8%
Q4 23	+21.0%	+21.3%
Q1 24	+7.5%	+9.2%
Q2 24	+2.2%	+2.7%
Q3 24	+4.9%	+4.9%
Q1 25	+8.9%	+8.1%
Q3 25	+39.8%	+36.6%
Q4 25	+28.1%	+27.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q1 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 21	$169M	$11M
Q3 21	$34M	$5M
Q1 22	$36M	$5M
Q2 22	$33M	$5M
Q4 22	$28M	$5M
Q1 23	$26M	$5M
Q2 23	$27M	$6M
Q3 23	$27M	$7M
Q4 23	$30M	$6M
Q1 24	$32M	$6M
Q2 24	$29M	$7M
Q3 24	$31M	$7M
Q1 25	$32M	$7M
Q3 25	$40M	$7M
Q4 25	$29.3B	$6.4B

Revenue Segments

Quarter	Care Management Fee (PMPM)	FFS-Administrative Services	FFS-Patient Care	Other Revenue	Shared Savings	Capitated Revenue
Q2 21	$9M	$15M	$181M	$1M	$19M	—
Q3 21	$9M	$16M	$200M	$200.0K	$25M	—
Q1 22	$9M	$23M	$204M	$1M	$28M	$48M
Q2 22	$9M	$24M	$211M	$1M	$32M	$58M
Q4 22	$8M	$23M	$232M	$2M	$42M	$58M
Q1 23	$9M	$26M	$228M	$1M	$44M	$78M
Q2 23	$14M	$27M	$231M	$2M	$53M	$87M
Q3 23	$18M	$30M	$246M	$2M	$34M	$89M
Q4 23	$11M	$30M	$272M	$3M	$40M	$85M
Q1 24	$11M	$29M	$275M	$2M	$47M	$51M
Q2 24	$16M	$32M	$276M	$2M	$40M	$56M
Q3 24	$21M	$31M	$283M	$2M	$47M	$53M
Q1 25	$15M	$32M	$312M	$2M	$48M	$71M
Q3 25	$21M	$34M	$353M	$2M	$80M	$91M
Q4 25	$20M	$36M	$364M	$2M	$47M	$71M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$321M	$0	$321M
Q1 22	$316M	$0	$316M
Q2 22	$292M	$0	$292M
Q3 22	$317M	$0	$317M
Q4 22	$348M	$0	$348M
Q1 23	$311M	$0	$311M
Q2 23	$318M	$0	$318M
Q3 23	$330M	$0	$330M
Q4 23	$390M	$0	$390M
Q1 24	$351M	$0	$351M
Q2 24	$387M	$0	$387M
Q3 24	$422M	$0	$422M
Q4 24	$491M	$0	$491M
Q1 25	$469M	$0	$469M
Q2 25	$390M	$0	$390M
Q3 25	$441M	$0	$441M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	103M	—	—
Q3 21	106M	+3.1%	—
Q1 22	108M	+2.0%	—
Q2 22	109M	+0.6%	—
Q4 22	124M	+14.2%	+20.8%
Q1 23	124M	+0.2%	+17.4%
Q2 23	125M	+0.2%	+15.3%
Q3 23	125M	+0.3%	+14.9%
Q4 23	125M	-0.1%	+0.6%
Q1 24	125M	+0.2%	+0.6%
Q2 24	125M	+0.2%	+0.6%
Q3 24	126M	+0.3%	+0.7%
Q1 25	128M	+1.6%	+2.3%
Q3 25	129M	+0.8%	+3.0%
Q4 25	130M	+1.2%	+4.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	—	—
Q3 21	—	—
Q1 22	$387.4K	810
Q2 22	$414.2K	810
Q4 22	$378.0K	964
Q1 23	$400.7K	964
Q2 23	$428.8K	964
Q3 23	$432.9K	964
Q4 23	$400.0K	1K
Q1 24	$376.8K	1K
Q2 24	$383.2K	1K
Q3 24	$397.4K	1K
Q1 25	$421.1K	1K
Q3 25	$509.1K	1K
Q4 25	$441.4K	1K

Revenue / Employee