$PRVA

Privia Health Group, Inc.

CIK:0001759655|SEC Filings

Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 632,630	$ 521,153	$ 1,236,477	$ 1,001,250
Operating expenses:
Provider expense	500,484	405,992	975,601	780,801
Cost of platform	69,357	64,918	137,777	124,444
Sales and marketing	8,002	6,805	16,136	13,727
General and administrative	39,658	37,519	81,131	69,240
Depreciation and amortization	3,356	2,583	6,637	4,484
Total operating expenses	620,857	517,817	1,217,282	992,696
Operating income	11,773	3,336	19,195	8,554
Other income	3,310	0	3,310	0
Interest income, net	1,668	2,408	3,556	5,339
Income before provision for income taxes	16,751	5,744	26,061	13,893
Provision for income taxes	7,017	2,456	12,617	4,559
Net income	9,734	3,288	13,444	9,334
Less: Net income attributable to non-controlling interests	686	601	1,332	2,427
Net income attributable to Privia Health Group, Inc.	$ 9,048	$ 2,687	$ 12,112	$ 6,907
Net income per share attributable to Privia Health Group, Inc. stockholders – basic (in dollars per share)	$ 0.07	$ 0.02	$ 0.10	$ 0.06
Net income per share attributable to Privia Health Group, Inc. stockholders – diluted (in dollars per share)	$ 0.07	$ 0.02	$ 0.09	$ 0.05
Weighted average common shares outstanding - basic (in shares)	126,121,426	122,132,245	125,142,415	121,370,949
Weighted average common shares outstanding – diluted (in shares)	131,827,233	128,447,069	131,355,421	128,149,252

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 13,444	$ 9,334
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	291	415
Amortization of intangibles	6,346	4,069
Stock-based compensation	41,317	36,639
Deferred income taxes, net	3,683	2,671
Changes in asset and liabilities:
Accounts receivable, net	(172,378)	(121,497)
Prepaid expenses and other current assets	(8,492)	(21,344)
Other non-current assets and right-of-use assets	1,472	1,056
Accounts payable and accrued expenses	(5,794)	(7,687)
Provider liability	70,972	81,185
Operating lease liabilities	(1,032)	(778)
Other long-term liabilities	1,806	(153)
Net cash used in operating activities	(48,365)	(16,090)
Cash from investing activities
Business acquisitions, net of cash acquired	(11,430)	(89,058)
Other	(59)	0
Net cash used in investing activities	(11,489)	(89,058)
Cash flows from financing activities
Proceeds from exercised stock options	1,600	4,126
Proceeds from non-controlling interest	2,213	0
Repurchase of non-controlling interest	(11,444)	0
Net cash (used in) provided by financing activities	(7,631)	4,126
Net decrease in cash and cash equivalents	(67,485)	(101,022)
Cash and cash equivalents at beginning of period	479,685	491,149
Cash and cash equivalents at end of period	412,200	390,127
Supplemental disclosure of cash flow information:
Interest paid	162	124
Income taxes paid	10,656	5,771
Supplemental disclosure of non-cash operating activities:
Lease liabilities obtained in exchange for right-of-use assets	234	1,832
Contingent consideration payable	$ 1,270	$ 0

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 412,200	$ 479,685
Accounts receivable	574,160	400,902
Prepaid expenses and other current assets	38,906	30,414
Total current assets	1,025,266	911,001
Non-current assets:
Property and equipment, net	272	504
Right-of-use assets	8,038	8,794
Intangible assets, net	218,654	215,919
Goodwill	215,789	209,842
Deferred tax asset	0	2,274
Other non-current assets	20,562	21,044
Total non-current assets	463,315	458,377
Total assets	1,488,581	1,369,378
Current liabilities:
Accounts payable and accrued expenses	91,010	96,804
Provider liability	541,368	469,516
Operating lease liabilities, current	2,066	2,200
Total current liabilities	634,444	568,520
Non-current liabilities:
Operating lease liabilities, non-current	6,667	7,331
Deferred tax liability	3,737	0
Other non-current liabilities	5,660	2,584
Total non-current liabilities	16,064	9,915
Total liabilities	650,508	578,435
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock, $0.01 par value, 1,000,000,000 and 1,000,000,000 shares authorized; 126,289,983 and 123,604,576 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1,263	1,236
Additional paid-in capital	925,264	892,291
Accumulated deficit	(144,198)	(156,310)
Total Privia Health Group, Inc. stockholders’ equity	782,329	737,217
Non-controlling interest	55,744	53,726
Total stockholders’ equity	838,073	790,943
Total liabilities and stockholders’ equity	$ 1,488,581	$ 1,369,378