Privia Health Group Stock Earnings Reports

Privia Health reported a strong Q1 2026 with broad operational momentum across provider signings, attributed lives, and value-based performance. Implemented providers rose to 5,535 (up 13.6% YoY) and attributed lives to 1.6M (up 26.5% YoY), driving practice collections of $914.8M (up 14.6% YoY). Adjusted EBITDA improved 36.3% to $36.7M and adjusted EBITDA margin (as a percent of care margin) expanded 290 bps to 28.5%, demonstrating operating leverage and progress toward the company’s long-term margin targets. Privia ended Q1 with $219.5M in cash and no debt, reiterated its 2026 guidance while raising the year-end attributed lives range, and expects ~20% EBITDA growth at the midpoint with ~80% of EBITDA converting to free cash flow. Management highlighted continued M&A and BD opportunities (including integration progress on the Evolent ACO assets), focus on Medicare Advantage and shared-risk arrangements (preferring shared-risk over full capitation), and investments in technology / AI to drive productivity and margin expansion. Key risks noted include typical timing/seasonality in value-based settlements and the company’s conservative approach to guidance.