Privia Health Group, Inc. has recently released its 10-K report, providing a comprehensive overview of its operations and financial performance. Privia Health is a national physician-enablement company that collaborates with physician practices, health plans, and health systems, offering technology, population health tools, and management services to enhance providers' workflows. The company's focus is on achieving better outcomes, lower costs, improved patient experience, and happier and more engaged providers.
In its 10-K report, Privia Health reported a revenue of $2.12 billion for the year ended December 31, 2025, compared to $1.74 billion in 2024 and $1.66 billion in 2023. The operating income was $34.2 million, $17.0 million, and $20.6 million for the years 2025, 2024, and 2023, respectively. Net income attributable to Privia Health Group, Inc. was $22.9 million, $14.4 million, and $23.1 million for the same respective periods.
Furthermore, the report highlighted key metrics and non-GAAP financial measures, including practice collections, care margin, platform contribution, and adjusted EBITDA. Practice collections were $3.47 billion, $2.97 billion, and $2.84 billion for the years ended December 31, 2025, 2024, and 2023, respectively. Care margin was $462.2 million, $403.9 million, and $359.2 million for the same periods, while platform contribution was $234.8 million, $195.6 million, and $173.5 million. Adjusted EBITDA was reported at $125.5 million, $90.5 million, and $72.2 million for the years 2025, 2024, and 2023, respectively.
The report also detailed the company's revenue streams, including fee-for-service (FFS) revenue, value-based care (VBC) revenue, and other revenue. FFS revenue represented 64.1%, 66.0%, and 58.9% of total revenue for the years ended December 31, 2025, 2024, and 2023, respectively. VBC revenue represented 29.0%, 26.3%, and 33.8% of total revenue for the same periods, while other revenue accounted for the remainder.
Privia Health's expansion into new markets and its focus on adding new providers and patients were highlighted as key factors affecting its performance. The company's ability to work within each geographic market as it evolves toward VBC, and its efforts to maintain and enhance payer contracts, were also emphasized in the report.
Today the company's shares have moved -2.26% to a price of $23.32. If you want to know more, read the company's complete 10-K report here.
