Filing Flows › Privia Health Group (PRVA) › Q2 2025
Privia Health Group (PRVA) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Privia Health Group (PRVA) reported revenue of $521M for the second quarter 2025 (Q2 2025), +23% from a year earlier and +9% from the quarter before. Operating margin was 0.6%, net earnings $2.7M (0.5% of revenue).
Privia Health Group, Q2 2025: revenue $521M (+23% year over year), operating margin 0.6%, net earnings $2.7M, operating cash flow $8.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $521M | +9% | +23% |
| Operating profit | $3.3M | -36% | -35% |
| Net earnings | $2.7M | -36% | -22% |
| Operating cash flow | $8.0M | — | -77% |
What changed
Revenue was $521.2M in Q2 2025, up 23% year over year and up 9% from the previous quarter. FFS-patient care was the largest line at 64% of revenue. FFS-patient care added $55.7M year over year (up 20%), 56% of the total change.
Operating profit was $3.3M, a 0.6% margin (down 0.6 points year over year). Operating profit fell $1.8M even though revenue rose $98.8M versus a year earlier, so costs grew faster than sales. Total costs grew 24% against revenue growth of 23%. The fastest-growing cost line was General & admin (+30%). Net earnings were $2.7M, down 22% year over year. The effective tax rate was 42.8%. Non-operating items added $2.4M, 42% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $8.0M (down 77% year over year), 242% of net income including minority interests. Non-cash charges added back $2.6M of depreciation and amortization and $18.8M of share-based compensation. Working capital and other items used $16.7M.
Questions
What was Privia Health Group's revenue in the second quarter 2025?
Privia Health Group (PRVA) reported revenue of $521M for the second quarter 2025 (Q2 2025), +23% from a year earlier and +9% from the quarter before.
Was Privia Health Group profitable in the second quarter 2025?
Operating profit was $3.3M (0.6% of revenue) and net earnings $2.7M.