- Practice Collections +17.3% compared to 1Q’22
- Implemented Providers +10.3% compared to 1Q’22
- Company Reiterated Full Year 2023 Guidance
ARLINGTON, Va., May 04, 2023 (GLOBE NEWSWIRE) — Privia Health Group, Inc. (Nasdaq: PRVA) today announced financial results for the first quarter ended March 31, 2023.
Total revenue for the first quarter of 2023 was $386.3 million, compared to total revenue of $313.8 million for the prior year first quarter (+23.1%). Gross Profit for the first quarter of 2023 was $83.0 million, compared to $70.8 million for the prior year first quarter. Operating income for the first quarter of 2023 was $6.7 million, compared to operating loss of $(11.5) million for the prior year first quarter. Net income for the first quarter of 2023 was $7.3 million, or $0.06 per share, compared to net loss of $(17.5) million, or $(0.16) per share, for the first quarter of 2022. Net income for the first quarter of 2023 included $5.4 million in non-cash stock compensation expense and $3.4 million in other expenses. Net loss for the first quarter of 2022 included $24.9 million in non-cash stock compensation expense and $0.3 million in other expenses. Read More
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