Privia Health reported higher third-quarter revenue and profits, alongside strong year-to-date growth, and raised its 2026 outlook to above the high end of its previous range for all key financial measures. The company also announced a move to expand its value-based care business through an acquisition and plans to leave its Montana partnership effective January 2027.
Third-quarter results
- Revenue rose 13.2% year over year to $657.0 million. Gross profit increased 9.9% to $134.7 million.
- Operating income climbed 42.6% to $20.5 million.
- Net income nearly doubled to $13.5 million from $6.9 million a year earlier. Earnings per share increased to $0.10 from $0.05.
- Adjusted net income, a non-GAAP measure, grew 16.3% to $28.0 million. Adjusted net income per share was $0.21, up from $0.19.
- Net income included $14.0 million of non-cash stock-compensation expense, compared with $19.0 million in the year-earlier quarter.
- Privia’s implemented provider count increased 12.2% to 5,893 from 5,250.
Year-to-date performance and outlook
- For the first nine months of 2026, net income was $25.6 million, up 85.9% from the same period in 2025.
- Year-to-date adjusted EBITDA reached $114.7 million, an increase of 21.9%.
- Privia raised its full-year 2026 guidance to above the high end of its prior range across all key financial metrics. The announcement provided no revised numerical targets in the material presented here.
Business changes
- Privia said it is expanding its value-based care footprint through the acquisition of American Choice Healthcare’s Medicare Shared Savings Program business. The announcement did not provide purchase terms or other transaction details.
- The company plans to exit its Montana partnership effective January 2027.
What changes for investors
The results show growth in both revenue and operating income, with net income also benefiting from lower non-cash stock-compensation expense than in the year-earlier quarter. The acquisition adds to Privia’s value-based care activities, while the planned Montana exit will reduce its presence there; no financial impact for either change was specified.