P3 Health Partners Inc.

For the period ended Mar 31, 2025. Filed May 15, 2025.

About 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.

Mar 31, 2025 · Filed May 15, 2025

PIII$3.38-20.5%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations (Unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

	Three Months Ended March 31,
	2025	2024
OPERATING REVENUE:
Capitated revenue	$369,517	$384,134
Other patient service revenue	3,708	4,354
TOTAL OPERATING REVENUE	373,225	388,488
OPERATING EXPENSE:
Medical expense	372,043	382,057
Premium deficiency reserve	(6,962)	1,000
Corporate, general and administrative expense	24,999	27,401
Sales and marketing expense	181	322
Depreciation and amortization	21,052	21,539
TOTAL OPERATING EXPENSE	411,313	432,319
OPERATING LOSS	(38,088)	(43,831)
OTHER INCOME (EXPENSE):
Interest expense, net	(8,725)	(4,256)
Mark-to-market of stock warrants	3,322	216
Other	318	337
TOTAL OTHER INCOME (EXPENSE)	(5,085)	(3,703)
LOSS BEFORE INCOME TAXES	(43,173)	(47,534)
INCOME TAX PROVISION (EXPENSE)	(1,073)	(2,072)
NET LOSS	(44,246)	(49,606)
LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTEREST	(23,766)	(30,906)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST	$(20,480)	$(18,700)
NET LOSS PER SHARE (Note 9):
Basic	$(6.28)	$(7.86)
Diluted	$(6.28)	$(7.86)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Note 9):
Basic	3,260	2,378
Diluted	3,260	2,378

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.