Privia Health Group, Inc. · NASDAQ:PRVA
Privia Health — Q3 2026 Earnings Presentation
19 slides from Privia Health's earnings presentation, Nov 5, 2026
Slide 1: 3rd Quarter 2026 Results
3rd Quarter 2026 Results Parth Mehrotra, CEO David Mountcastle, CFO November 5, 2026 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements that express the Company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results that include, but are not limited to: 2026 financial guidance
Slide 3: Agenda
Agenda ● Key Highlights ● Nine-Month 2026 Performance ● 2026 Guidance and Outlook ● Q&A 3
Slide 4: Key Highlights
Key Highlights ● YTD’26 performance highlights strong operational execution and momentum of Privia Health’s differentiated business model ○ Implemented Providers growth +12.2% vs. YTD’25 ○ Attributed Lives growth +19.2% vs. YTD’25 ○ Practice Collections growth +12.0% vs. YTD’25 ○ Adjusted EBITDA1 gr
Slide 5: Acquisition of American Choice Healthcare MSSP Business
Acquisition of American Choice Healthcare MSSP Business ● Acquired American Choice Healthcare MSSP, LLC (ACH), a wholly-owned subsidiary of Cano Health, for ~$36M using cash on hand ● The ACH ACO expected to care for 36,000+ attributed lives in the Medicare Shared Savings Program (MSSP) starting Jan
Slide 6: Multiple Drivers of Durable Growth
Multiple Drivers of Durable Growth Capital Deployment: Organic Growth: Adjacencies Current Practices ● Expanding TAM via ● New patients adjacent lines of business ● New providers ● Acquire new capabilities ● Revenue optimization ● Transformational M&A ● Provider productivity ● Contracting improvemen
Slide 7: Building One of the Largest Primary Care Centric Delivery Networks
Building One of the Largest Primary Care Centric Delivery Networks 1 NATIONAL PRESENCE 25 States + Includes 9 VBC-only States D.C. 50+ Specialties ~1,400 Care Center Locations 6.3M+ Patients 1.67M Attributed Lives* 5,893 Implemented Providers ** 98% Gross Provider Retention*** Implemented Providers
Slide 8: Diversified Value-Based Platform
Diversified Value-Based Platform 1 1.67+ Million 130+ Total Attributed Lives VBC Contracts 966K 711K Commercial Government • 61% Upside Only Lives Lives • 39% Upside / Downside 341K 234K CMS Medicare 136K Medicare Medicaid Advantage program Lives Lives Lives • 83% Enhanced Track/ • 71% Upside Only •
Slide 9: Nine-Month Performance
Nine-Month Performance 1 Implemented Providers Attributed Lives Practice Collections ($mm) (end of period) (‘000s, end of period)1 +12.2% +19.2% +12.0% Care Margin ($mm) Platform Contribution ($mm) Adjusted EBITDA ($mm) +15.4% +16.8% +21.9% % Practice Collections 6.9% 7.2% % Practice Collections 3.6
Slide 10: Strong Balance Sheet and Capital Position
Strong Balance Sheet and Capital Position ● $446.3M in net cash and no debt as of 9.30.26 ● Final MSSP 2025 results expected in November 2026 ● Expect ~70% of FY’26 Adjusted EBITDA1 to convert to Free Cash Flow2 ● Expect to end FY’26 with at least $520M in cash and cash equivalents ○ Includes Americ
Slide 11: Updated FY'26 Guidance Metrics
Updated FY’26 Guidance Metrics 1 Initial FY’26 Guidance Updated FY’26 Guidance FY’25 Actual ($ in millions) at 2.26.26 at 11.5.26 Low High Implemented Providers 5,380 5,900 6,000 High End Attributed Lives 1,541,000 1,550,000 1,600,000 1,675,000 - 1,690,000 Practice Collections $ 3,470.5 $ 3,650 $ 3,
Slide 12: Consistent Growth & Profitability Across Cycles
Consistent Growth & Profitability Across Cycles 1 1 Any slight variations in percentages are due to rounding. Management has not reconciled forward-looking non-GAAP measures to their most directly comparable GAAP measures because the Company cannot predict with reasonable certainty and without unreas
Slide 13: Appendix
Appendix 13
Slide 14: Reconciliation of Gross Profit to Care Margin
Reconciliation of Gross Profit to Care Margin m 14
Slide 15: Reconciliation of Gross Profit to Platform Contribution
Reconciliation of Gross Profit to Platform Contribution n 15
Slide 16: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA o 16
Slide 17: Reconciliation of Gross Profit to Care Margin
Reconciliation of Gross Profit to Care Margin 17
Slide 18: Reconciliation of Net Income (Loss) to Adjusted EBITDA
Reconciliation of Net Income (Loss) to Adjusted EBITDA 18
Slide 19: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow 19