Privia Health Group (NASDAQ:PRVA) Releases Quarterly Earnings Results

Privia Health Group (NASDAQ:PRVA) released its quarterly earnings results on Thursday. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.21, FiscalAI reports. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%.The company had revenue of $541.17 million for the quarter, compared to analyst estimates of $516.61 million. During the same quarter last year, the firm posted $0.21 earnings per share. Privia Health Group’s revenue was up 17.4% compared to the same quarter last year.

Here are the key takeaways from Privia Health Group’s conference call:

• Strong 2025 financial performance — Privia reported Adjusted EBITDA up 38.8% to $125.5 million, Practice Collections up 16.9% to $3.47 billion, and Care Margin growth of 14.4%, reflecting sizable operating leverage.
• Scale and network growth — Implemented providers rose 12.3% to 5,380 and attributed lives increased 22.7% to 1.54 million; the company also closed the Evolent ACO deal (adding ~120k lives) and entered Arizona with IMS.
• Strong cash generation and balance sheet — Privia converted 130% of EBITDA to free cash flow in 2025, deployed $180 million on transactions, finished 2025 with ~$480 million cash and no debt, and expects ~80% EBITDA-to-FCF conversion and ~ $600 million cash by end-2026 (assumes no new BD).
• 2026 guidance — Management guides to roughly 19.5% Adjusted EBITDA growth to a $150 million midpoint, implemented providers of ~5,950, ~1.58 million attributed lives, Practice Collections growth of ~6.6%, and Care Margin growth of ~13% at the midpoints.
• Key risks and near-term headwinds — Privia will become a full cash taxpayer in 2026 (pressuring FCF conversion versus 2025), and results remain exposed to payer dynamics, shared-savings variability and other forward-looking risks the company highlighted.

Privia Health Group Stock Performance

NASDAQ:PRVA traded down $0.29 during mid-day trading on Friday, hitting $24.62. The stock had a trading volume of 547,441 shares, compared to its average volume of 763,936. Privia Health Group has a twelve month low of $18.77 and a twelve month high of $26.51. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 189.21, a PEG ratio of 1.59 and a beta of 0.83. The company’s 50 day simple moving average is $23.06 and its 200 day simple moving average is $23.44.

Wall Street Analysts Forecast Growth

PRVA has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Privia Health Group in a report on Monday, December 29th. Citigroup reaffirmed a “market outperform” rating on shares of Privia Health Group in a research note on Tuesday, January 6th. Citizens Jmp lifted their price target on Privia Health Group from $30.00 to $31.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Wolfe Research set a $31.00 price target on Privia Health Group in a report on Tuesday, January 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $32.00 price objective on shares of Privia Health Group in a report on Thursday. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.71.

Insider Activity at Privia Health Group

In related news, Director Matthew Shawn Morris sold 13,647 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.01, for a total transaction of $341,311.47. Following the transaction, the director directly owned 68,188 shares of the company’s stock, valued at approximately $1,705,381.88. The trade was a 16.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Mountcastle sold 23,887 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $25.03, for a total value of $597,891.61. Following the sale, the chief financial officer directly owned 172,909 shares of the company’s stock, valued at $4,327,912.27. This represents a 12.14% decrease in their position. The SEC filing for this sale provides additional information. 10.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Privia Health Group

A number of institutional investors have recently made changes to their positions in PRVA. Vanguard Personalized Indexing Management LLC boosted its stake in Privia Health Group by 5.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 16,250 shares of the company’s stock valued at $385,000 after purchasing an additional 903 shares during the period. Schroder Investment Management Group raised its position in shares of Privia Health Group by 0.8% in the fourth quarter. Schroder Investment Management Group now owns 140,038 shares of the company’s stock valued at $3,341,000 after buying an additional 1,123 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Privia Health Group by 3.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 37,688 shares of the company’s stock valued at $894,000 after buying an additional 1,192 shares during the period. Canada Pension Plan Investment Board grew its position in Privia Health Group by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after buying an additional 1,200 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in Privia Health Group by 6.4% during the 4th quarter. Natixis Advisors LLC now owns 20,352 shares of the company’s stock worth $483,000 after acquiring an additional 1,221 shares during the period. Institutional investors own 94.48% of the company’s stock.

Key Headlines Impacting Privia Health Group

Here are the key news stories impacting Privia Health Group this week:

• Positive Sentiment: Q4 results beat expectations — Privia reported revenue and EPS above consensus, with accelerating practice collections and year‑over‑year revenue growth, supporting short‑term upside from stronger-than-expected fundamentals. Q4 Earnings Snapshot / Transcript
• Positive Sentiment: 2025 results exceeded guidance across the board — full‑year adjusted EBITDA, net income, operating cash flow and provider metrics came in at or above the high end of guidance, strengthening credibility in management’s execution. GlobeNewswire Release
• Positive Sentiment: 2026 guidance is optimistic — management targets ~20% adjusted EBITDA growth at the midpoint, higher GAAP revenue guidance and expects ~80% conversion of adjusted EBITDA to free cash flow, which supports medium‑term earnings leverage. 2026 Guidance Details
• Positive Sentiment: Growth initiatives — company is expanding its footprint (now present in 24 states) and targeting provider and attributed‑lives growth, which could expand addressable market and revenue runway. MSN Article
• Neutral Sentiment: Analyst price targets show upside but with caveats — the mean target implies material upside (~25%), reflecting bullish analyst views but not a guarantee; investors should weigh analyst consensus against valuation and execution risk. Zacks Analyst Targets
• Neutral Sentiment: Documentation available — earnings transcript, slide deck and analyst presentations provide detail for modeling and Q&A; useful for verifying guidance assumptions and cadence of provider growth. Earnings Transcript (Yahoo)
• Negative Sentiment: Non‑GAAP disclosure and stock‑based compensation remain watchpoints — the company records large non‑cash stock‑based comp and notes it cannot fully reconcile some forward‑looking non‑GAAP measures to GAAP, which adds forecasting uncertainty. Financial Release (Risks & Non‑GAAP)
• Negative Sentiment: Recent insider and institutional selling flagged — filings summarized by QuiverQuant show insider sales and some large institutional position reductions, which can pressure sentiment even after strong results. QuiverQuant Summary (Insider/Institutional Activity)

About Privia Health Group

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.