Privia Health Group (PRVA) Q4 FY2023 earnings: revenue $441 million, up 21.0% on the year

Privia Health Group, Inc. (PRVA) reported revenue of $441 million for Q4 FY2023, the quarter ended 31 December 2023, up 21.0% on the same quarter a year earlier. Net income was $3 million, down 84.0% on the year, and diluted earnings per share $0.02. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.

Revenue$441 millionup 21.0%

Net income$3 milliondown 84.0%

Diluted EPS$0.02

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	441	417	n/a	n/a
Operating income	1.4	5.5	n/a	n/a
Operating margin	0.3%	1.3%	n/a
Pre-tax income	4.3	8.4	n/a	n/a
Income tax	1.9	2.5	n/a	n/a
Effective tax rate	45.5%	29.5%	n/a
Net income	2.8	5.6	n/a	n/a
Net margin	0.6%	1.4%	n/a
Diluted EPS	$0.02	$0.05	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	64.1	22.5	n/a	n/a
Capital expenditure	0.0	0.0	n/a	n/a
Free cash flow	64.1	22.4	n/a	n/a
Free cash flow margin	14.5%	5.4%	n/a
Cash from investing	-5.0	-13.0	n/a	n/a
Cash from financing	0.0	3.0	n/a	n/a
Depreciation and amortisation	1.8	1.7	n/a	n/a
Share-based compensation	11.7	10.8	n/a	n/a
Diluted shares, weighted	125m	125m	n/a	n/a
Shares outstanding at period end	118m	118m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	561	545	n/a	n/a
Non-controlling interest	46.0	46.4	n/a	n/a
Debt	0.0	0.0	n/a	n/a
Operating lease liabilities	5.2	5.8	n/a	n/a
Other liabilities	387	396	n/a	n/a
Total liabilities and equity	1,000	992	n/a	n/a
Fixed assets	2.3	2.6	n/a	n/a
Goodwill	139	136	n/a	n/a
Intangible assets	108	107	n/a	n/a
Cash and equivalents	390	330	n/a	n/a
Receivables	291	350	n/a	n/a
Other assets	70.9	66.4	n/a	n/a
Total assets	1,000	992	n/a	n/a

Questions

What was Privia Health Group's revenue in Q4 FY2023?

Privia Health Group (PRVA) reported revenue of $441 million for Q4 FY2023, the quarter ended 31 December 2023, up 21.0% on the same quarter a year earlier.

How much did Privia Health Group earn in Q4 FY2023?

Net income for Q4 FY2023 was $3 million, down 84.0% on the year, and diluted earnings per share $0.02.

When did Privia Health Group report Q4 FY2023 results?

Privia Health Group filed its 10-K for the year that ended with the quarter on 27 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	417	441	415	422	438	461	480	521	580	541	604	633
Operating income	5.5	1.4	0.8	5.1	5.8	5.2	5.2	3.3	14.4	11.3	7.4	11.8
Operating margin	1%	0%	0%	1%	1%	1%	1%	1%	2%	2%	1%	2%
Pre-tax income	8.4	4.3	3.8	8.1	8.0	8.0	8.1	5.7	16.7	13.4	9.3	16.8
Tax rate	30%	46%	20%	42%	50%	33%	26%	43%	41%	21%	60%	42%
Net income	5.6	2.8	3.0	3.5	3.5	4.4	4.2	2.7	6.9	9.2	3.1	9.0
Net margin	1%	1%	1%	1%	1%	1%	1%	1%	1%	2%	1%	1%
Diluted EPS	$0.05	$0.02	$0.02	$0.03	$0.03	$0.03	$0.03	$0.02	$0.05	$0.07	$0.02	$0.07
Operating cash flow	22.5	64.1	-33.1	34.5	33.2	74.8	-24.1	8.0	52.0	128	-49.5	1.1
Capital expenditure	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Free cash flow	22.4	64.1	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	118m	118m	119m	119m	120m	120m	121m	123m	123m	124m	126m	126m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 27 February 2024, accession 0001759655-24-000022: the filing on EDGAR. All of Privia Health Group, Inc.'s filings: EDGAR company page.

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