Company: PIII
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001832511-25-000025
Chunk: 85

Company: P3 Health Partners Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 85
---
Item 1. Financial Statements.

P3 Health Partners Inc. | Q3 2025 Form 10-Q | 4

Table of Contents

P3 HEALTH PARTNERS INC. and SUBSIDIARIES 

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)

(unaudited)

September 30, 2025December 31, 2024ASSETSCURRENT ASSETS:  Cash $37,714 $38,816 Restricted cash748 5,286 Health plan receivable, net of allowance for credit losses of $15082,024 121,266 Clinic fees, insurance and other receivable3,738 3,947 Prepaid expenses and other current assets 11,407 14,422 Assets held for sale— 403 TOTAL CURRENT ASSETS135,631 184,140 Property and equipment, net 3,902 5,734 Intangible assets, net512,912 574,350 Other long-term assets31,119 19,196 TOTAL ASSETS (1)$683,564 $783,420 LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ (DEFICIT) EQUITY  CURRENT LIABILITIES:  Accounts payable$9,929 $8,442 Accrued expenses and other current liabilities35,832 29,416 Accrued payroll 1,349 2,722 Health plan settlements payable53,480 55,565 Claims payable253,664 255,089 Premium deficiency reserve30,703 67,368 Accrued interest271 2,305 Current portion of long-term debt38,612 75,155 Short-term debt114 — Liabilities held for sale— 353 TOTAL CURRENT LIABILITIES423,954 496,415 Operating lease liability12,053 11,339 Warrant liabilities7,528 10,312 Long-term debt, net214,183 108,907 Other long-term liabilities6,918 6,918 TOTAL LIABILITIES (1)664,636 633,891 COMMITMENTS AND CONTINGENCIESMEZZANINE EQUITY:Redeemable non-controlling interest37,614 73,593 STOCKHOLDERS’ (DEFICIT) EQUITY: