Privia Health Group, Inc. · NASDAQ:PRVA

Privia Health — Q1 2025 Earnings Presentation

19 slides from Privia Health's earnings presentation, May 8, 2025

  1. Slide 1: 1st Quarter 2025 Results

    1st Quarter 2025 Results May 8, 2025 Parth Mehrotra, CEO David Mountcastle, CFO

  2. Slide 2: Disclaimer

    Disclaimer Forward-Looking Statements This presentation contains forward-looking statements that express the Company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results that include, but are not limited to: 2025 financial guidance

  3. Slide 3: Agenda

    Agenda ● Key Highlights and Business Update ● 1Q’25 Performance ● Updated 2025 Guidance and Outlook ● Q&A 3

  4. Slide 4: Strong First Quarter Performance and Operating Execution

    Strong First Quarter Performance and Operating Execution ● Implemented Providers +11.7% vs. 1Q’24 ● Practice Collections growth +12.8% vs. 1Q’24 ● Adjusted EBITDA 1 growth +35.1% ○ Adjusted EBITDA margin of 25.6%, +460 bps vs. 1Q’24 ● Launched Arizona market ● FY 2025 guidance raised to mid- to high

  5. Slide 5: Arizona Entry: Strategic Market with Strong Demographics

    Arizona Entry: Strategic Market with Strong Demographics ● Announced entrance into Arizona on April 9, 2025 ● Partnered with IMS, a multi-specialty group with ~70 MDs and APPs in 21 locations across Phoenix, AZ region ● 28K+ value-based care attributed lives across Commercial, Medicare, Medicare Adv

  6. Slide 6: Building One of the Largest Primary Care Centric Delivery Networks

    Building One of the Largest Primary Care Centric Delivery Networks NATIONAL PRESENCE 15 States Plus D.C. 50+ Specialties 1,200+ Care Center Locations 5.2M+ Patients 1.27M Attributed Lives* 4,871 Implemented Providers ** 98% Gross Provider Retention*** 87 Patient NPS *Includes Privia Care Partners’ l

  7. Slide 7: Diversified Value-Based Platform

    Diversified Value-Based Platform 1 1.27 Million 100+ Total Attributed Lives VBC Contracts 779K 491K Commercial Government • 59% Upside Only Lives Lives • 41% Upside / Downside 207K 185K 100K MSSP Lives Medicare Medicaid Advantage Lives Lives • 75% Enhanced Track • 75% Upside Only • 100% Upside Only -

  8. Slide 8: 1Q'25 Performance

    1Q’25 Performance 1 Implemented Providers Attributed Lives Practice Collections ($mm) (end of period) (‘000s, end of period)1 +11.7% +11.1% +12.8% Care Margin ($mm) Platform Contribution ($mm) Adjusted EBITDA ($mm) +10.9% +15.6% +35.1% % Practice Collections 6.3% 6.5% % Practice Collections 2.8% 3.4

  9. Slide 9: Strong Balance Sheet and Capital Position

    Strong Balance Sheet and Capital Position ● $469.3M in cash and no debt as of 3.31.25 ● 1Q’25 use of cash included annual cash bonuses and physician VBC payments, similar to past years ● $95M in cash deployed in April 2025 for IMS transaction in Arizona (In millions) At 3.31.25 At 3.31.24 $469.3 $35

  10. Slide 10: Updated FY'25 Guidance Metrics

    Updated FY’25 Guidance Metrics 1 Initial FY’25 Guidance Updated FY’25 FY’24 Actual ($ in millions) at 2.27.25 Guidance at 5.8.25 Low High Implemented Providers 4,789 5,200 5,300 Mid to High End Attributed Lives 1,256,000 1,300,000 1,400,000 Unchanged Practice Collections $ 2,968 $ 3,150 $ 3,250 Mid

  11. Slide 11: Consistent Growth & Profitability Across Cycles

    Consistent Growth & Profitability Across Cycles PRE-COVID COVID POST-COVID MA HEADWINDS 2018A 2019A 2020A 2021A 2022A 2023A 2024A 2025 Guidance1 CAGR (Midpoint) Number of States (Year End) 4 5 6 7 9 13 14 15 24.6% Implemented Providers (Year End) 1,796 2,482 2,550 3,317 3,606 4,305 4,789 5,275 13.4%

  12. Slide 12: Appendix

    Appendix 12

  13. Slide 13: Reconciliation of Gross Profit to Care Margin

    Reconciliation of Gross Profit to Care Margin l 13

  14. Slide 14: Reconciliation of Gross Profit to Platform Contribution

    Reconciliation of Gross Profit to Platform Contribution m 14

  15. Slide 15: Reconciliation of Net Income to Adjusted EBITDA

    Reconciliation of Net Income to Adjusted EBITDA n 15

  16. Slide 16: Reconciliation of Net Income to Adjusted Net Income Per Share

    Reconciliation of Net Income to Adjusted Net Income Per Share o 16

  17. Slide 17: Reconciliation of Gross Profit to Care Margin

    Reconciliation of Gross Profit to Care Margin 17

  18. Slide 18: Reconciliation of Net Income (Loss) to Adjusted EBITDA

    Reconciliation of Net Income (Loss) to Adjusted EBITDA 18

  19. Slide 19: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow

    Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow 19

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