Privia Health Group, Inc.

Good day, and thank you for standing by. Welcome to the Previa Health Q1 2022 conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you're requiring further assistance, please press star 0. I would now like to hand the conference over to your speaker today. Robert Borchert, SVP of Investor and Corporate Communications. Please go ahead.

Thank you, Gigi, and good morning, everyone. Joining me today are Sean Morris, our Chief Executive Officer, Partha Rotar, President and Chief Operating Officer, and David Mountcastle, our Chief Financial Officer. This call is being webcast and can be accessed from the Investor Relations section at privyhealth.com. Today's press release highlighting our financial and operating performance and the slide presentation accompanying our formal remarks are posted on our IR website. Following our prepared comments, we will open the line for questions, and we ask that you please limit yourself to one question and one follow-up so we can get through the queue in a timely fashion. The financial results reported today and in the press release are preliminary and are not final until our Form 10Q for the quarter ended March 31, 2022, is filed to the Securities and Exchange Commission. Some of the statements we will make today are forward-looking in nature based on our current expectations and our view of our business as of May 12, 2022. Such statements, including those related to our future financial and operating performance and future business plans and objectives, are subject to risks and uncertainties that may cause after-results to differ materially. As a result, these statements should be considered in conjunction with the cautionary statements in today's press release and the risk factors described in our company's most recent SEC filings. Finally, we may refer to certain non-GAAP financial measures on the call, and reconciliations of these measures to comparable GAAP measures are included in our press release and the accompanying slide presentation posted on our website. Now I'll turn the call over to Sean.

Thank you, Robert, and good morning, everyone. We are very proud of the success that Previa Health and our provider partners have achieved prior to and since our IPO a year ago. The physician-patient relationship is the cornerstone of our healthcare ecosystem, and we are honored to be one of the nation's leading physician enablement organizations. This past Tuesday, we were excited to celebrate our one-year anniversary as a public company at the NASDAQ Marketplace, along with 17 physician leaders representing our more than 3,300 physicians and providers across eight states and the District of Columbia. With our continued momentum in the existing markets, Privia Health posted another strong quarter of financial and operating performance in the first quarter of 2022. We remain highly confident in our growth outlook for 2022 and beyond as we continue to organize physicians into scaled provider networks across our country. This morning, I'll present an overview of the key highlights. Park will provide a business update, and then David will conclude with our recent financial performance and updated outlook for 2022 before we take your questions. Peruvia Health is continuing to execute at a very high level, and our first quarter results clearly highlight this. Our practice collections increased more than 63% year over year, and our operating model is already working at scale. Adjusted EBITDA was a quarterly record and was up over 48% while we're investing across our enterprise to support this accelerated top-line growth. The business momentum and high forward visibility into our growth metrics is reflected in our updated financial guidance for 2022. Our growth is being driven by a balanced set of strategic initiatives. This includes continued same-store growth driven by the strength and ambulatory utilization across all of our existing practice locations. This patient volume is a benefit to both our fee-for-service collections as well as supporting the performance in our value-based arrangements as we serve patients in lower-cost care settings. As we align with and enable our provider partners and expand our number of attributed lives, our operational execution and clinical performance is continuing to drive strong results across our value-based arrangements. We generated another solid core of new provider additions in existing markets and in combination with a sustained high level of provider retention. In addition, our active business development pipeline remains robust as we look to enter many new markets over the next few years. With that, let me ask Parth to provide more details on market position and expansion.