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Privia Health Group, Inc. (PRVA) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

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Privia Health Group, Inc.

HISTORY TOOLS
CIK: 1759655 Ticker: PRVA
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Exhibit 99.1

Privia Health Reports Fourth Quarter 2022 Financial Results

–FY 2022 Financial Results At or Above High End of Guidance with Practice Collections Growth of 49.1% compared to FY 2021
–New Market Entries announced in Connecticut, Delaware, North Carolina and Ohio
–Launches Three New ACOs; Five ACOs now participating in MSSP Enhanced Track
–2023 Capitated Lives Increase 38%+ to 40,600 Patients

ARLINGTON, VA – February 28, 2023
 – Privia Health Group, Inc. (Nasdaq: PRVA) today announced financial and operating results for the fourth quarter and full year ended December 31, 2022.
Fourth Quarter
Total revenue for the fourth quarter of 2022 was $364.4 million, compared to total revenue of $275.3 million for the prior year fourth quarter (+32.4%). Operating income for the fourth quarter of 2022 was $2.2 million, compared to operating loss of $19.3 million for the prior year fourth quarter. Net income for the fourth quarter of 2022 was $17.8 million, or income of $0.14 per diluted share, compared to net loss of $(12.0) million, or $(0.11) per share, for the fourth quarter of 2021. Net income for the fourth quarter of 2022 included $9.2 million in non-cash stock compensation expense and $1.7 million in in legal and other expenses.
Non-GAAP adjusted net income was $16.1 million, or $0.13 per diluted share, for the fourth quarter of 2022, compared to $7.0 million, or $0.06 per diluted share, for the prior year fourth quarter (+130.0%).
Reconciliations of adjusted net income and other non-GAAP financial measures are presented in tables near the end of this press release.
Key operating and non-GAAP financial metrics include:
•Practice Collections for the fourth quarter of 2022 were $634.8 million, compared to $513.2 million for the same period in 2021 (+23.7%).
•Care Margin for the fourth quarter of 2022 was $80.1 million, compared to $68.6 million for the same period in 2021 (+16.7%).
•Platform Contribution for the fourth quarter of 2022 was $39.1 million, compared to $27.8 million for the same period in 2021 (+40.7%).
•Adjusted EBITDA for the fourth quarter of 2022 was $14.3 million, compared to $7.5 million for the same period in 2021 (+89.5%).
•Implemented Providers for the fourth quarter of 2022 were 3,606, compared to 3,317 at the end of the fourth quarter of 2021 (+8.7%).
•Value-Based Care Attributed Lives for the fourth quarter of 2022 were 856,000, compared to 786,000 at the end of the fourth quarter of 2021 (+8.9%).
“Privia Health delivered exceptional operating execution throughout 2022, culminating in excellent fourth quarter and full-year financial performance, with practice collections, care margin and adjusted EBITDA at or above the high end of our most recent financial guidance,” said Shawn Morris, Chief Executive Officer, Privia Health. “Our highly-aligned provider partnership model and recent successes have created opportunities to enter new markets, grow within our existing practice partners and expand our number of new provider partners in existing geographies.
1
The following information was filed by Privia Health Group, Inc. (PRVA) on Tuesday, February 28, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Privia Health Group, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders??? Equity
Account Payable And Accrued Expenses
Account Payable And Accrued Expenses (Details)
Account Payable And Accrued Expenses (Tables)
Business Combinations
Business Combinations (Details)
Business Combinations (Tables)
Business Combinations - Narrative (Details)
Commitment And Contingencies
Concentrations Of Credit Risk
Concentrations Of Credit Risk (Details)
Employee Benefit Plans
Employee Benefit Plans (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Narrative (Details)
Goodwill And Intangible Assets, Net - Schedule Of Amortization Of Intangible Assets (Details)
Goodwill And Intangible Assets, Net - Schedule Of Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Effective Income Tax Reconciliation (Details)
Income Taxes - Schedule Of Income Tax Expense (Benefit) (Details)
Leases
Leases (Tables)
Leases - Components Of Lease Expense (Details)
Leases - Narrative (Details)
Leases - Schedule Of Future Lease Payment (Details)
Net (Loss) Income Per Share
Net (Loss) Income Per Share (Tables)
Net (Loss) Income Per Share - Schedule Of Antidilutive Securities (Details)
Net (Loss) Income Per Share - Schedule Of Earnings Per Share, Basic And Diluted (Details)
Note Payable
Note Payable (Tables)
Note Payable - Narrative (Details)
Note Payable - Schedule Of Long Term Debt (Details)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Policies)
Organization And Summary Of Significant Accounting Policies (Tables)
Organization And Summary Of Significant Accounting Policies - Finite-Lived Intangible Assets (Details)
Organization And Summary Of Significant Accounting Policies - Narrative (Details)
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Schedule Of Property Plant And Equipment (Details)
Provider Liability
Provider Liability (Tables)
Provider Liability - Unpaid Claims (Details)
Related-Party Transactions
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Percentages By Source Of Net Operating Revenue (Details)
Revenue Recognition - Schedule Of Contract Assets And Liabilities (Details)
Revenue Recognition - Schedule Of Revenue Desegregation (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Segment Financial Information
Segment Financial Information (Details)
Stockholders??? Equity
Stockholders??? Equity (Tables)
Stockholders??? Equity - Narrative (Details)
Stockholders??? Equity - Schedule Of Fair Value Of Stock Option (Details)
Stockholders??? Equity - Schedule Of Options Activity (Details)
Stockholders??? Equity - Schedule Of Restricted Stock Unit Activity (Details)
Stockholders??? Equity - Schedule Of Stock-Based Compensation Expense (Details)
Ticker: PRVA
CIK: 1759655
Form Type: 10-K Annual Report
Accession Number: 0001759655-23-000026
Submitted to the SEC: Wed Mar 01 2023 4:16:43 PM EST
Accepted by the SEC: Wed Mar 01 2023
Period: Saturday, December 31, 2022
Industry: Health Services

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