P3 Health Partners Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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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.
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Condensed Consolidated Statements of Operations (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| OPERATING REVENUE: | ||||
| Capitated revenue | $357,706 | $285,153 | $1,116,146 | $909,473 |
| Other patient service revenue | 4,418 | 3,198 | 13,623 | 10,041 |
| TOTAL OPERATING REVENUE | 362,124 | 288,351 | 1,129,769 | 919,514 |
| OPERATING EXPENSE: | ||||
| Medical expense | 401,920 | 279,220 | 1,149,148 | 867,061 |
| Premium deficiency reserve | 18,168 | (12,489) | 15,771 | (9,361) |
| Corporate, general and administrative expense | 27,219 | 33,065 | 81,230 | 97,931 |
| Sales and marketing expense | 134 | 654 | 870 | 2,512 |
| Depreciation and amortization | 21,673 | 21,721 | 64,905 | 65,041 |
| TOTAL OPERATING EXPENSE | 469,114 | 322,171 | 1,311,924 | 1,023,184 |
| OPERATING LOSS | (106,990) | (33,820) | (182,155) | (103,670) |
| OTHER INCOME (EXPENSE): | ||||
| Interest expense, net | (5,647) | (4,002) | (15,339) | (11,939) |
| Mark-to-market of stock warrants | 5,737 | 755 | 14,626 | (327) |
| Other | 445 | 190 | 1,073 | (455) |
| TOTAL OTHER INCOME (EXPENSE) | 535 | (3,057) | 360 | (12,721) |
| LOSS BEFORE INCOME TAXES | (106,455) | (36,877) | (181,795) | (116,391) |
| INCOME TAX BENEFIT (PROVISION) | 3,605 | (412) | 565 | (928) |
| NET LOSS | (102,850) | (37,289) | (181,230) | (117,319) |
| LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTEREST | (56,338) | (23,993) | (103,998) | (85,008) |
| NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST | $(46,512) | $(13,296) | $(77,232) | $(32,311) |
| NET LOSS PER SHARE (Note 9): | ||||
| Basic | $(0.29) | $(0.12) | $(0.55) | $(0.37) |
| Diluted | $(0.31) | $(0.12) | $(0.64) | $(0.41) |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Note 9): | ||||
| Basic | 161,890 | 114,198 | 139,292 | 88,010 |
| Diluted | 164,701 | 312,679 | 141,723 | 288,379 |
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