Company: PIII
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-026021
Chunk: 56

Company: P3 Health Partners Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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Item 1. Financial Statements.

P3 Health Partners Inc. | Q1 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)

March 31, 2025December 31, 2024ASSETSCURRENT ASSETS:  Cash $40,082 $38,816 Restricted cash1,211 5,286 Health plan receivable, net of allowance for credit losses of $150129,350 121,266 Clinic fees, insurance and other receivable5,409 3,947 Prepaid expenses and other current assets 14,980 14,422 Assets held for sale403 403 TOTAL CURRENT ASSETS191,435 184,140 Property and equipment, net 5,308 5,734 Intangible assets, net553,889 574,350 Other long-term assets33,238 19,196 TOTAL ASSETS (1)$783,870 $783,420 LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY  CURRENT LIABILITIES:  Accounts payable$11,503 $8,442 Accrued expenses and other current liabilities27,971 29,416 Accrued payroll 3,216 2,722 Health plan settlements payable56,715 55,565 Claims payable268,664 255,089 Premium deficiency reserve60,406 67,368 Accrued interest12,410 12,460 Current portion of long-term debt65,000 65,000 Short-term debt796 — Liabilities held for sale353 353 TOTAL CURRENT LIABILITIES507,034 496,415 Operating lease liability10,981 11,339 Warrant liabilities6,990 10,312 Long-term debt, net106,121 89,824 Other Long-Term Liabilities31,665 26,001 TOTAL LIABILITIES (1)662,791 633,891 COMMITMENTS AND CONTINGENCIESMEZZANINE EQUITY:Redeemable non-controlling interest57,829 73,593 STOCKHOLDERS’ EQUITY:  Class A common stock