Company: PIII
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-026021
Chunk: 58

Company: P3 Health Partners Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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P3 HEALTH PARTNERS INC. and SUBSIDIARIES 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

Three Months Ended March 31,20252024OPERATING REVENUE:Capitated revenue$369,517 $384,134 Other patient service revenue3,708 4,354 TOTAL OPERATING REVENUE373,225 388,488 OPERATING EXPENSE:Medical expense372,043 382,057 Premium deficiency reserve(6,962)1,000 Corporate, general and administrative expense24,999 27,401 Sales and marketing expense181 322 Depreciation and amortization21,052 21,539 TOTAL OPERATING EXPENSE411,313 432,319 OPERATING LOSS(38,088)(43,831)OTHER INCOME (EXPENSE):Interest expense, net(8,725)(4,256)Mark-to-market of stock warrants3,322 216 Other318 337 TOTAL OTHER INCOME (EXPENSE)(5,085)(3,703)LOSS BEFORE INCOME TAXES(43,173)(47,534)INCOME TAX PROVISION (EXPENSE)(1,073)(2,072)NET LOSS(44,246)(49,606)LESS: NET LOSS ATTRIBUTABLE TO REDEEMABLE NON-CONTROLLING INTEREST(23,766)(30,906)NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST$(20,480)$(18,700)NET LOSS PER SHARE (Note 9):Basic$(6.28)$(7.86)Diluted$(6.28)$(7.86)WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Note 9):Basic3,260 2,378 Diluted3,260 2,378 

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. | Q1 2025 Form 10-Q | 6

P3 HEALTH PARTNERS INC. and SUBSIDIARIES 

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY AND MEZZANINE EQUITY

(in