Privia Health Group, Inc. · NASDAQ:PRVA

Privia Health — Q2 2025 Earnings Presentation

20 slides from Privia Health's earnings presentation, Aug 7, 2025

  1. Slide 1: 2nd Quarter 2025 Results

    2nd Quarter 2025 Results August 7, 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 guidanc

  3. Slide 3: Agenda

    Agenda ● Key Highlights ● 2Q and Six-Month Performance ● Updated 2025 Guidance and Outlook ● Q&A 3

  4. Slide 4: Very Strong Second Quarter and First-Half Performance

    Very Strong Second Quarter and First-Half Performance ● Implemented Providers +13.8% vs. 2Q’24 ● Practice Collections growth +18.5% vs. 2Q’24 ● Adjusted EBITDA 1 growth +31.6% ○ Adjusted EBITDA margin of 25.2%, +310 bps vs. 2Q’24 ● FY 2025 guidance raised to above high end of range for Practice Coll

  5. Slide 5: Proven, Differentiated Business and Economic Model

    Proven, Differentiated Business and Economic Model Multi-Specialty Medical Groups ✓Diversified FFS & VBC Contracts ✓Significant Provider Autonomy ✓All Providers, Patients & ✓Physician-led Governance Reimbursement Models ✓Very Large TAM ✓Aligned for Success Risk-Bearing Tech and Services Entities Pri

  6. Slide 6: Consistent Growth & Profitability Across Cycles

    Consistent Growth & Profitability Across Cycles MA / MEDICAID PRE-COVID COVID POST-COVID HEADWINDS 2018A 2019A 2020A 2021A 2022A 2023A 2024A 2025 Guidance1 CAGR (High End) Number of States (Year End) 4 5 6 7 9 13 14 15 20.8% Implemented Providers (Year End) 1,796 2,482 2,550 3,317 3,606 4,305 4,789

  7. Slide 7: 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 1,300+ Care Center Locations 5.3M+ Patients 1.38M Attributed Lives* 5,125 Implemented Providers ** 98% Gross Provider Retention*** 87 Patient NPS *Includes Privia Care Partners’ l

  8. Slide 8: Diversified Value-Based Platform

    Diversified Value-Based Platform 1 1.38 Million 100+ Total Attributed Lives VBC Contracts 843K 539K Commercial Government • 62% Upside Only Lives Lives • 38% Upside / Downside 219K 205K CMS Medicare 115K Medicare Medicaid Advantage program Lives Lives Lives • 74% Enhanced Track/ • 77% Upside Only •

  9. Slide 9: 2Q Performance

    2Q Performance 1 Implemented Providers Attributed Lives Practice Collections ($mm) (end of period) (‘000s, end of period)1 +13.8% +15.2% +18.5% Care Margin ($mm) Platform Contribution ($mm) Adjusted EBITDA ($mm) +15.4% +21.3% +31.6% % Practice Collections 6.5% 6.7% % Practice Collections 3.0% 3.4% %

  10. Slide 10: Six-Month Performance

    Six-Month Performance 1 Practice Collections ($mm) Care Margin ($mm) +15.7% +13.2% Platform Contribution ($mm) Adjusted EBITDA ($mm) +18.5% +33.3% % Practice Collections 6.4% 6.6% % Practice Collections 2.9% 3.4% % Care Margin 47.3% 49.5% % Care Margin 21.5% 25.4% 1 Light blue bar represents governm

  11. Slide 11: Strong Balance Sheet and Capital Position

    Strong Balance Sheet and Capital Position ● $390.1M in cash and no debt as of 6.30.25 ● $95M in cash deployed in April 2025 for IMS transaction in Arizona ● Expect to end FY’25 with $450M+ in cash assuming no further capital deployment for business development (In millions) At 6.30.25 At 6.30.24 $39

  12. Slide 12: 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 8.7.25 Low High Implemented Providers 4,789 5,200 5,300 High End Attributed Lives 1,256,000 1,300,000 1,400,000 High End Practice Collections $ 2,968 $ 3,150 $ 3,250 Above High E

  13. Slide 13: Appendix

    Appendix 13

  14. Slide 14: Reconciliation of Gross Profit to Care Margin

    Reconciliation of Gross Profit to Care Margin l 14

  15. Slide 15: Reconciliation of Gross Profit to Platform Contribution

    Reconciliation of Gross Profit to Platform Contribution m 15

  16. Slide 16: Reconciliation of Net Income to Adjusted EBITDA

    Reconciliation of Net Income to Adjusted EBITDA n 16

  17. Slide 17: Reconciliation of Net Income to Adjusted Net Income Per Share

    Reconciliation of Net Income to Adjusted Net Income Per Share o 17

  18. Slide 18: Reconciliation of Gross Profit to Care Margin

    Reconciliation of Gross Profit to Care Margin 18

  19. Slide 19: Reconciliation of Net Income (Loss) to Adjusted EBITDA

    Reconciliation of Net Income (Loss) to Adjusted EBITDA 19

  20. Slide 20: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow

    Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow 20

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