Privia Health Posts 22% Revenue Growth, 38.8% Jump in Adjusted EBITDA
Privia Health delivered full-year 2025 revenue of $2.12 billion, up 22.3%, with net income rising 59.3% to $22.9 million and adjusted EBITDA climbing 38.8% to $125.5 million. The company ended the year with $479.7 million cash, no debt, and expects roughly 20% adjusted EBITDA growth in 2026.
1. Full-Year 2025 Financial Results
Privia Health reported full-year 2025 total revenue of $2,122.8 million, a 22.3% increase year-over-year, with net income rising 59.3% to $22.9 million. Adjusted EBITDA reached $125.5 million, up 38.8%, while net cash from operations grew 49.5% to $163.4 million, leaving $479.7 million in cash and no debt.
2. Operating and Non-GAAP Metrics
Key operating metrics also exceeded targets, with implemented providers increasing 12.3% to 5,380 and attributed lives up 22.7% to 1,541,000. Practice collections rose 16.9% to $3,470.5 million, care margin grew 14.4% to $462.2 million, and platform contribution expanded 20.0% to $234.8 million, all at or above guidance highs.
3. 2026 Guidance
For 2026, Privia Health projects approximately 20% growth in adjusted EBITDA at the midpoint of its guidance range, reflecting confidence in its scalable platform and continued expansion of provider participation and attributed lives.