Company: PIII
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001832511-25-000025
Chunk: 87

Company: P3 Health Partners Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 87
---
3 2025 Form 10-Q | 5

Table of Contents

P3 HEALTH PARTNERS INC. and SUBSIDIARIES 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024OPERATING REVENUE:Capitated revenue$341,555 $357,706 $1,062,796 $1,116,146 Other patient service revenue3,698 4,418 11,470 13,623 TOTAL OPERATING REVENUE345,253 362,124 1,074,266 1,129,769 OPERATING EXPENSE:Medical expense369,789 401,920 1,093,182 1,149,148 Premium deficiency reserve(23,736)18,168 (36,665)15,771 Corporate, general and administrative expense22,139 27,219 70,433 81,230 Sales and marketing expense251 134 583 870 Depreciation and amortization21,033 21,673 63,168 64,905 TOTAL OPERATING EXPENSE389,476 469,114 1,190,701 1,311,924 OPERATING LOSS(44,223)(106,990)(116,435)(182,155)OTHER INCOME (EXPENSE):Interest expense, net(20,527)(5,647)(39,397)(15,339)Mark-to-market of stock warrants(2,540)5,737 2,784 14,626 Other(2,160)445 (1,259)1,073 TOTAL OTHER INCOME (EXPENSE)(25,227)535 (37,872)360 LOSS BEFORE INCOME TAXES(69,450)(106,455)(154,307)(181,795)INCOME TAX BENEFIT (PROVISION)(11)3,605 (3,065)565 NET LOSS(69,461)(102,850)(157,372)(181,230)LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTEREST(37,874)(56,338)(84,943)(103,998)NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST$(31,587)$(46,