P3 Health Partners Inc.
For the period ended Mar 31, 2026. Filed May 14, 2026.
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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.
Mar 31, 2026 · Filed May 14, 2026
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 Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $3,040 | $(44,246) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 21,074 | 21,052 |
| Premium deficiency reserve | (4,715) | (6,962) |
| Paid in-kind interest expense | 10,799 | 5,614 |
| Amortization of original issue discount and debt issuance costs | 2,803 | 331 |
| Equity-based compensation | 1,051 | 1,808 |
| Deferred income taxes | 478 | — |
| Mark-to-market adjustment of stock warrants | (330) | (3,322) |
| Changes in operating assets and liabilities: | ||
| Health plan receivable | (32,436) | (8,084) |
| Clinic fees, insurance, and other receivable | (5,681) | (1,462) |
| Prepaid expenses and other current assets | (715) | (558) |
| Other long-term assets | (473) | (14,345) |
| Accounts payable, accrued expenses, and other current liabilities | 420 | 1,593 |
| Accrued payroll | 823 | 494 |
| Health plan settlements payable | (21,585) | 1,150 |
| Claims payable | (1,892) | 13,575 |
| Accrued interest | — | — |
| Operating lease liability | (128) | (104) |
| Net cash used in operating activities | (27,467) | (33,466) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Other, net | (43) | — |
| Net cash used in investing activities | (43) | — |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from long-term debt, net of original issue discount | 27,000 | 30,000 |
| Proceeds from short-term debt | 1,044 | 1,137 |
| Repayment of short-term and long-term debt | (209) | (341) |
| Payment of debt issuance costs | (30) | (139) |
| Net cash provided by financing activities | 27,805 | 30,657 |
| Net change in cash and restricted cash | 295 | (2,809) |
| Cash and restricted cash, beginning of period | 25,807 | 44,102 |
| Cash and restricted cash, end of period | $26,102 | $41,293 |
| Reconciliation of cash and restricted cash: | ||
| Cash | $25,497 | $40,082 |
| Restricted cash | 605 | 1,211 |
| Total cash and restricted cash | $26,102 | $41,293 |
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