Privia Health Group, Inc. reported significant financial growth in its latest quarterly filing, with revenues reaching $580.4 million for the three months ended September 30, 2025, a 32.5% increase from $437.9 million in the same period last year. For the nine months ending September 30, 2025, total revenue was $1.58 billion, up 24% from $1.28 billion in 2024. The company also achieved a net income of $6.9 million for the third quarter, nearly doubling from $3.5 million in the prior year, and a net income of $13.8 million for the nine-month period, compared to $10 million in 2024.
The increase in revenue was driven by several factors, including a rise in fee-for-service (FFS) patient care revenue, which grew by 24.5% to $352.6 million, and a substantial 70.3% increase in capitated revenue, which reached $90.9 million. The company attributed this growth to an increase in the number of providers and patient visits, as well as improved contract terms and performance in value-based care programs. Additionally, shared savings revenue surged by 68.6% to $80 million, reflecting the company's success in managing care for attributed lives under Medicare programs.
Operationally, Privia Health expanded its footprint by entering the Arizona market through the acquisition of PMG-AZ, which contributed $37 million in revenue since the acquisition. The company also reported a 13.1% increase in the number of implemented providers and a 12.8% rise in attributed lives, indicating strong growth in its healthcare delivery business. As of September 30, 2025, Privia operated in 16 markets across the United States, enhancing its geographic reach and market presence.
Despite the positive financial performance, operating expenses also increased, with total operating expenses rising by 31% to $566 million for the quarter. Provider expenses accounted for a significant portion of this increase, reflecting the company's growth in FFS revenue and the associated costs of providing care. The company continues to invest in its technology and operational capabilities to support its growth strategy, which includes expanding its provider base and enhancing its value-based care offerings.
Looking ahead, Privia Health remains optimistic about its growth trajectory, emphasizing its commitment to expanding its provider network and enhancing patient care. The company plans to continue investing in its technology and operational infrastructure to support its strategic initiatives and capitalize on emerging opportunities in the healthcare market.
About Privia Health Group, Inc.
Privia Health is a technology-enabled, physician-enablement company that partners with practices, health plans, and health systems to deliver value-based care. Its platform integrates clinical, administrative, and data analytics tools to improve patient outcomes, reduce costs, and enhance provider satisfaction across diverse reimbursement models. Focused on primary care and specialty networks, Privia promotes physician leadership, operational efficiency, and scalable growth in multiple U.S. markets.
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