P3 Health Partners Inc.
For the period ended Sep 30, 2026. Filed Nov 9, 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.
Sep 30, 2026 · Filed Nov 9, 2026
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 Operations (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| OPERATING REVENUE: | ||||
| Capitated revenue | $366,291 | $341,555 | $1,112,188 | $1,062,796 |
| Other revenue | 30,053 | 3,698 | 56,927 | 11,470 |
| TOTAL OPERATING REVENUE | 396,344 | 345,253 | 1,169,115 | 1,074,266 |
| OPERATING EXPENSE: | ||||
| Medical expense | 346,001 | 369,789 | 982,402 | 1,093,182 |
| Premium deficiency reserve | (27,950) | (23,736) | (41,324) | (36,665) |
| Corporate, general and administrative expense | 34,275 | 22,390 | 92,438 | 71,016 |
| Depreciation and amortization | 21,038 | 21,033 | 63,156 | 63,168 |
| TOTAL OPERATING EXPENSE | 373,364 | 389,476 | 1,096,672 | 1,190,701 |
| OPERATING INCOME (LOSS) | 22,980 | (44,223) | 72,443 | (116,435) |
| OTHER INCOME (EXPENSE): | ||||
| Interest expense, net | (5,042) | (20,527) | (29,670) | (39,397) |
| Mark-to-market of stock warrants and purchased put option | 7,612 | (2,540) | (8,424) | 2,784 |
| Other | 5,250 | (2,160) | 5,410 | (1,259) |
| TOTAL OTHER INCOME (EXPENSE) | 7,820 | (25,227) | (32,684) | (37,872) |
| INCOME (LOSS) BEFORE INCOME TAXES | 30,800 | (69,450) | 39,759 | (154,307) |
| INCOME TAX BENEFIT (PROVISION) | (23) | (11) | 9,709 | (3,065) |
| NET INCOME (LOSS) | 30,777 | (69,461) | 49,468 | (157,372) |
| LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTERESTS | 15,156 | (37,874) | 25,180 | (84,943) |
| NET INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST | $15,621 | $(31,587) | $24,288 | $(72,429) |
| LESS: CUMULATIVE PREFERRED STOCK DIVIDENDS | 15,170 | — | 24,740 | — |
| NET INCOME (LOSS) ATTRIBUTABLE TO CLASS A COMMON STOCKHOLDERS | $451 | $(31,587) | $(452) | $(72,429) |
| NET INCOME (LOSS) PER SHARE (Note 9): | ||||
| Basic | $0.13 | $(9.67) | $(0.13) | $(22.18) |
| Diluted | $0.07 | $(9.67) | $(0.13) | $(22.18) |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Note 9): | ||||
| Basic | 3,399 | 3,268 | 3,541 | 3,265 |
| Diluted | 6,627 | 3,268 | 3,541 | 3,265 |
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