P3 Health Partners Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
PIII$3.38-20.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $(181,230) | $(117,319) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 64,905 | 65,041 |
| Equity-based compensation | 5,031 | 4,259 |
| Amortization of original issue discount and debt issuance costs | 13 | 405 |
| Accretion of contingent consideration | — | 113 |
| Gain on write off of contingent consideration | (4,907) | — |
| Mark-to-market adjustment of stock warrants | (14,626) | 327 |
| Premium deficiency reserve | 15,771 | (9,361) |
| Changes in operating assets and liabilities: | ||
| Health plan receivable | (4,828) | (45,258) |
| Clinic fees, insurance, and other receivable | 445 | 5,275 |
| Prepaid expenses and other current assets | (7,402) | (429) |
| Other long-term assets | (2) | (1,214) |
| Accounts payable, accrued expenses, and other current liabilities | 1,780 | 2,758 |
| Accrued payroll | 903 | 2,405 |
| Health plan settlements payable | 6,177 | 21,814 |
| Claims payable | 52,727 | 4,290 |
| Accrued interest | 12,281 | 7,092 |
| Operating lease liability | 72 | (348) |
| Net cash used in operating activities | (52,890) | (60,150) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | — | (2,039) |
| Purchase price received in advance of asset sale | 15,000 | — |
| Net cash provided by (used in) investing activities | 15,000 | (2,039) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from long-term debt, net of original issue discount | 25,000 | 14,101 |
| Payment of debt issuance costs | (100) | (173) |
| Proceeds from liability-classified warrants and private placement offering, net of offering costs paid | 40,547 | 87,244 |
| Proceeds from at-the-market sales, net of offering costs paid | 33 | — |
| Deferred offering costs paid | (507) | — |
| Payment of tax withholdings upon settlement of restricted stock unit awards | (127) | — |
| Repayment of short-term and long-term debt | (1,663) | — |
| Proceeds from short-term debt | 1,871 | — |
| Net cash provided by financing activities | 65,054 | 101,172 |
| Net change in cash and restricted cash | 27,164 | 38,983 |
| Cash and restricted cash, beginning of period | 40,934 | 18,457 |
| Cash and restricted cash, end of period | $68,098 | $57,440 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.