Company: PIII
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001832511-25-000025
Chunk: 91

Company: P3 Health Partners Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 91
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)—(4,815)Net loss(37,874)— — — — — (31,587)(31,587)STOCKHOLDERS’ DEFICIT, September 30, 2025$37,614 3,268$— 3,919 $— $556,936 $(575,622)$(18,686)

All periods presented have been retroactively adjusted to reflect the 1-for-50 reverse stock split effected on April 11, 2025. See Note 3 “Significant Accounting Policies” for further information.  

See accompanying notes to condensed consolidated financial statements.

P3 Health Partners Inc. | Q3 2025 Form 10-Q | 8

P3 HEALTH PARTNERS INC. and SUBSIDIARIES 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

Nine Months Ended September 30,20252024CASH FLOWS FROM OPERATING ACTIVITIES:Net loss$(157,372)$(181,230)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization63,168 64,905 Premium deficiency reserve(36,665)15,771 Paid in-kind interest expense19,813 12,281 Amortization of original issue discount and debt issuance costs11,383 13 Equity-based compensation4,482 5,031 Mark-to-market adjustment of stock warrants(2,784)(14,626)Loss on asset sale and disposal340 — Gain on write off of contingent consideration— (4,907)Changes in operating assets and liabilities:Health plan receivable39,242 (4,828)Clinic fees, insurance, and other receivable209 445 Prepaid expenses and other current assets3,015 (7,402)Other long-term assets(12,274)(2)Accounts payable, accrued expenses, and other current liabilities7,786 1,780 Accrued payroll(1,373)903 Health plan settlements payable(2,085)6,177 Claims payable(1,425)52,727 Accrued interest(2,034)— Operating lease liability1,063 72 Net cash used in operating activities(65,511)(52,890)CASH FLOWS FROM INVESTING ACTIVITIES:Purchases of property and