Privia Health Group, Inc. reported significant financial growth in its latest 10-K filing, with total revenue reaching $2.12 billion for the fiscal year ending December 31, 2025, a 22.3% increase from $1.74 billion in 2024. The company also achieved an operating income of $34.2 million, up from $17.0 million the previous year, and net income attributable to Privia Health increased by 59.3% to $22.9 million. This growth was primarily driven by increases in fee-for-service (FFS) patient care revenue and value-based care (VBC) revenue, which saw substantial contributions from new provider additions and an increase in patient visit volumes.
Compared to the previous fiscal year, Privia Health experienced notable changes in its operational metrics. The number of implemented providers rose by 12.3%, totaling 5,380 as of December 31, 2025, while attributed lives in VBC arrangements increased by 22.7%, reflecting the company's successful expansion and acquisition strategies. The company also reported a 16.9% increase in practice collections, which reached $3.47 billion, indicating a strong performance across its healthcare delivery business.
Strategically, Privia Health has made significant moves to enhance its market presence, including the acquisition of Evolent Health's accountable care business, which added over 120,000 attributed lives. The company also entered new markets, such as Indiana and Arizona, through partnerships and acquisitions, demonstrating its commitment to expanding its footprint in the healthcare sector. The Privia Technology Solution, a cloud-based platform designed to streamline operations and improve patient care, continues to play a crucial role in the company's growth strategy.
Operationally, Privia Health's business indicators reflect a strong engagement with its provider network and patient base. The company reported that over 5.8 million patients are cared for through its network, with a significant portion attributed to VBC arrangements. The company’s focus on enhancing provider satisfaction and retention has resulted in a high provider retention rate of 96%, contributing to its predictable revenue model. As of December 31, 2025, Privia Health employed 1,226 individuals across 43 states, underscoring its expansive operational capabilities.
Looking ahead, Privia Health anticipates continued growth driven by its strategic initiatives and market expansion efforts. The company aims to further increase its provider base and attributed lives while enhancing its VBC capabilities. However, it acknowledges potential risks, including regulatory changes and market competition, which could impact its growth trajectory. The company remains focused on leveraging its technology platform to adapt to evolving healthcare demands and maintain its competitive edge in the industry.
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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