Company: PIII
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001832511-25-000025
Chunk: 163

Company: P3 Health Partners Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 163
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 2025.As of September 30, 2025 and 2024, there was no fair value adjustment to redeemable non-controlling interest recorded as the fair value of redeemable non-controlling interest was greater than the carrying value.

Note 11: Segment ReportingThe Company’s operations are organized under one reportable segment. The following tables present information about the Company’s reportable segment:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands)Operating revenue$345,253 $362,124 $1,074,266 $1,129,769 Less:Medical claims expense(337,143)(357,166)(1,010,569)(1,037,965)Other medical expense(1)(32,646)(44,754)(82,613)(111,183)Depreciation and amortization(21,033)(21,673)(63,168)(64,905)Other segment items(2)(3,810)(39,807)(34,063)(83,463)Interest expense, net(20,527)(5,647)(39,397)(15,339)Interest income456 468 1,237 1,291 Loss before income taxes(69,450)(106,455)(154,307)(181,795)Income tax (provision) benefit(11)3,605 (3,065)565 Net loss$(69,461)$(102,850)$(157,372)$(181,230)

P3 Health Partners Inc. | Q3 2025 Form 10-Q | 21

September 30, 2025December 31, 2024(in thousands)Segment assets$82,024 $121,266 __________________(1)Other medical expense includes subcapitation expense, affiliate provider compensation expense, and other non-claim costs.(2)Other segment items include premium deficiency reserve, corporate, general and administrative expense, sales and marketing expense, and miscellaneous income and expense.

Note 12: CapitalizationReverse Stock SplitOn April 11, 2025, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation (the "Charter Amendment") with the Secretary of State of Delaware to effect a 1-for-50 reverse stock split (the "Reverse Stock Split") of the Company's outstanding Class A common stock, $0.0001 par value per share, and