Company: PIII
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-026021
Chunk: 17

Company: P3 Health Partners Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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 retirement of an equivalent number of Class V common stock. Such retired shares of Class V common stock may not be reissued. The redemptions occurred pursuant to the terms of the P3 LLC Amended and Restated Limited Liability Company Agreement (the “P3 LLC A&R LLC Agreement”). No similar exchanges or redemptions occurred during the three months ended March 31, 2025.

As of March 31, 2024, there was $20.6 million remeasurement adjustment recorded as the fair value of redeemable non-controlling interest was greater than the carrying value. No similar remeasurement adjustment was required as of March 31, 2025.

P3 Health Partners Inc. | Q1 2025 Form 10-Q | 18

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 March 31,20252024(in thousands)Operating revenue$373,225 $388,488 Less:Medical claims expense(352,317)(347,582)Other medical expense(1)(19,726)(34,475)Depreciation and amortization(21,052)(21,539)Other segment items(2)(14,900)(28,561)Interest expense, net(8,725)(4,256)Interest income322 391 Loss before income taxes(43,173)(47,534)Income tax provision(1,073)(2,072)Net loss$(44,246)$(49,606)March 31, 2025December 31, 2024(in thousands)Segment assets$129,350 $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 Class V common stock, $0.0001 par value per share