Overview

• US physician enablement firm's Q1 revenue rose 26%, beating analyst expectations

• Adjusted EPS and adjusted EBITDA for Q1 both beat analyst expectations

• Company maintained full-year 2026 guidance for most metrics, raising attributed lives outlook

Outlook

• Privia Health raised 2026 attributed lives guidance to 1.6 mln-1.625 mln from 1.55 mln-1.6 mln

• Company maintains 2026 revenue guidance at $2.35 bln-$2.45 bln

• Company expects about 80% of 2026 adjusted EBITDA to convert to free cash flow

Result Drivers

• SAME-STORE GROWTH & PROVIDER ADDITIONS - Co said Q1 results were driven by continued strength in same-store growth and new provider additions

• PRACTICE COLLECTIONS - Practice collections rose 15% from a year earlier, supporting overall revenue growth

• ATTRIBUTED LIVES GROWTH - Attributed lives increased 27% year-over-year, reflecting expansion in value-based care arrangements

Company press release: ID:nGNXlvNTg

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the healthcare facilities & services peer group is "buy"

• Wall Street's median 12-month price target for Privia Health Group Inc is $31.00, about 29.2% above its May 6 closing price of $23.99

• The stock recently traded at 63 times the next 12-month earnings vs. a P/E of 74 three months ago

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