P3 Health Partners Inc.
For the period ended Jun 30, 2026. Filed Aug 10, 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.
Jun 30, 2026 · Filed Aug 10, 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)
| Six Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $18,691 | $(87,911) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Noncash reduction of prior period medical expense | (56,000) | — |
| Depreciation and amortization | 42,118 | 42,135 |
| Mark-to-market adjustment of stock warrants and purchased put option | 16,036 | (5,324) |
| Paid in-kind interest expense | 14,710 | 10,619 |
| Premium deficiency reserve | (13,374) | (12,929) |
| Amortization of original issue discount and debt issuance costs | 3,403 | 402 |
| Equity-based compensation | 1,917 | 3,271 |
| Deferred income taxes | 478 | — |
| Loss on asset sale and disposal | 127 | — |
| Changes in operating assets and liabilities: | ||
| Health plan receivable | (27,173) | 27,803 |
| Clinic fees, insurance, and other receivable | (5,975) | (3,625) |
| Prepaid expenses and other current assets | (9,187) | (1,747) |
| Other long-term assets | 5,039 | (14,464) |
| Accounts payable, accrued expenses, and other current liabilities | (3,597) | 6,200 |
| Accrued payroll | 471 | (1,560) |
| Health plan settlements payable | (44,182) | (13,694) |
| Claims payable | (32,714) | 948 |
| Operating lease liability | (169) | (223) |
| Net cash used in operating activities | (89,381) | (50,099) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Other, net | (251) | — |
| Proceeds from asset sale | — | 50 |
| Net cash provided by (used in) investing activities | (251) | 50 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from issuance of preferred stock, net of issuance costs | 42,674 | — |
| Proceeds from long-term debt, net of original issue discount | 27,000 | 45,000 |
| Proceeds from issuance of warrants | 15,961 | — |
| Proceeds from short-term debt | 1,044 | 1,137 |
| Repayment of short-term and long-term debt | (626) | (682) |
| Payment of debt issuance costs | (30) | (181) |
| Payment of tax withholdings upon settlement of restricted stock unit awards | (4) | — |
| Net cash provided by financing activities | 86,019 | 45,274 |
| Net change in cash and restricted cash | (3,613) | (4,775) |
| Cash and restricted cash, beginning of period | 25,807 | 44,102 |
| Cash and restricted cash, end of period | $22,194 | $39,327 |
| Reconciliation of cash and restricted cash: | ||
| Cash | $21,272 | $38,581 |
| Restricted cash | 922 | 746 |
| Total cash and restricted cash | $22,194 | $39,327 |
| Supplemental disclosures of non-cash investing and financing information: | ||
| Conversion of long-term debt to preferred equity, net of debt issuance costs and original issue discount | $195,118 | $— |
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