Company: PIII
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-026021
Chunk: 20

Company: P3 Health Partners Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 20
---
BERS’ DEFICIT$10,662 $9,256 

P3 Health Partners Inc. | Q1 2025 Form 10-Q | 20

Three Months Ended March 31,20252024(in thousands)Revenue$8,159 $9,764 Expense8,154 9,897 Net loss$5 $(133)

Note 14: Income TaxesThe Company’s tax rate is affected primarily by the recognition of a valuation allowance and the portion of income and expense allocated to the non-controlling interest. It is also affected by discrete items that may occur in any given year such as benefits from changes in the fair value of private placement and public warrants. During the three months ended March 31, 2025, the Company’s tax rate was impacted by the valuation allowance placed on deferred tax assets in prior periods and state taxes.

Note 15: Subsequent EventsReverse Stock SplitOn April 11, 2025, the Company effected a 1-for-50 reverse stock split of its Class A common stock and Class V common stock, $0.0001 par value. See Note 12 “Capitalization” included in this Form 10-Q for additional information related to the reverse stock split.Asset sale

On May 1, 2025, the Company’s subsidiary, P3 Health Partners-Florida, LLC (“P3 Florida”), entered into an asset purchase agreement with Invictus Equity Group, LLC (“Invictus”) for the purchase of assets previously held for sale. See Note 6 “Property and Equipment” for additional information. Pursuant to the asset purchase agreement, P3 Florida sold to  Invictus the assets, clinical and non-clinical, exclusively or primarily used by the Company’s MA-related business operated out of Clearwater, Florida, for a purchase price of approximately $0.1 million. 

P3 Health Partners Inc. | Q1 2025 Form 10-Q | 21

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion and analysis is intended to provide the reader with an understanding of our business, including an overview of our results of operations and liquidity and should be read in conjunction with the unaudited condensed consolidated financial statements and related notes included elsewhere in this Form 10-Q, as well as our audited financial statements and related notes and in Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations”