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EarningsQ2 2026 Earnings Report
PRVA Q2 2026 EPS Results
Actual EPS$0.07
Consensus EPS$0.07
Beat/MissBeat by +<$0.01
One Year Ago EPS$0.02
PRVA Q2 2026 Revenue Results
Actual Revenue$632.63M
Expected Revenue$597.33M
Beat/MissBeat by +$35.30M
YoY Revenue Growth+21.39%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeBefore Open
Conference CallThursday, August 6, 2026
PRVA Upcoming Earnings
Privia Health Group's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
PRVA Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong set of operational and financial results — double-digit growth in implemented providers, attributed lives and practice collections, substantial adjusted EBITDA growth and notable margin expansion — supported by a cash-rich, no-debt balance sheet and continued M&A and market expansion. The primary risks discussed were timing-related (possible CMS shared-savings settlement delay and cash-tax timing), a Q2 observation that provider payments grew faster than revenue, and near-term market/payer variability. Management maintained conservative guidance posture for the back half of the year despite raising full-year outlook ranges for several metrics and emphasized AI and scale levers to continue margin improvement.Company Guidance
Implemented Providers and Network Scale
Implemented providers grew 10.1% year-over-year to 5,644 (up 109 sequentially), serving over 6.1 million patients across more than 1,300 care center locations in 25 states and DC; gross provider retention averaged ~98% over the past 3 years.
Attributed Lives Expansion
Value-based attributed lives increased 19.2% year-over-year and total attributed lives reached ~1.64 million. Commercial attributed lives rose 11.7% to 942,000; CMS Medicare attribution was up 55%; Medicare Advantage and Medicaid attribution increased >12% and ~18%, respectively.
Practice Collections and Revenue Growth
Q2 practice collections grew 12.4% year-over-year to $970 million; first-half 2026 practice collections increased 13.4% to $1.88 billion. Management raised 2026 outlook across key financial metrics (practice collections and GAAP revenue).
Adjusted EBITDA and Margin Expansion
Adjusted EBITDA increased 29% year-over-year in Q2 to $37.4 million, representing 28.3% of care margin (a 310 basis point improvement year-over-year). First-half adjusted EBITDA grew 32.5% to $74.1 million. Management reiterated goal to expand EBITDA margin toward the high end of the 30%–35% care margin range over the next few years.
Cost Efficiency Progress
Cost of platform improved, with management noting cost of platform at ~52.5% of care margin (down ~400 basis points year-over-year), and SG&A operating leverage contributing to margin expansion.
Strong Balance Sheet and Cash Conversion Outlook
Ended Q2 with over $412 million in cash and no debt. Management expects 70%–80% of full-year adjusted EBITDA to convert to free cash flow (subject to timing of shared-savings cash settlements and cash taxes).
Strategic Market Expansion and M&A Integration
Entered New Jersey (25 clinicians) expanding footprint; integrations of last year’s acquisitions (Evolent/Care Partners and IMS) progressing well and contributing to growth; pipeline for market expansion and tuck-in deals remains robust.
Value-Based Scale and Spend Influence
Company manages an estimated $15.7 billion in total medical spend across commercial and government value-based arrangements, supporting the ability to influence care and generate shared-savings opportunity.
Technology & AI Adoption
Continuing deployment of AI across corporate, revenue-cycle and clinical workflows (partners include Google Gemini and investments such as Navina). Management links AI deployment to future efficiency gains and margin expansion.
PRVA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed