The model only survived while investor capital flowed — once it stopped, the business collapsed, exposing the issues in their unit economics. How to Fix Unit Economics When It Doesn't Add Up ...

Unit Economics 101 A business model’s unit economics expresses its revenues and costs in relation to one unit—i.e., a customer serviced, a good sold or otherwise.

PRVA exhibits growth in key business metrics underlying its unit economics, growing attributable lives by 335,000 these past 3 years, along with $750mm in practice collections and ~1,500 in providers.

Low-double-digit free average free cash flow to sales (11% of revenue) through 2027 should afford substantial flexibility, with our model calling for $3.9 billion in capital expenditures and $5.6 ...

Management has recently raised its long-term unit expansion targets to 6,000 units in the U.S. and 10,000 units globally, representing 2.7X and 4X growth from its current footprint, respectively.

We assume a weighted average cost of capital of 8.5%. Our model includes 9% average annual top-line growth through 2032, with adjusted EPS growing at a 14% annual clip.