Company: PIII
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001832511-25-000013
Chunk: 150

Company: P3 Health Partners Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 150
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 is no change in the estimated fair value of the warrant liabilities due to the dividend assumption.The following table sets forth a summary of changes in the fair value of the Company’s private placement warrants to purchase Class A common stock, which are considered to be Level 3 fair value measurements:Six Months Ended June 30,20252024(in thousands)Beginning balance $10,185 $29 Issuance of common warrants— 33,259 Mark-to-market adjustment of stock warrants(5,315)(8,783)Ending balance$4,870 $24,505 The Company recorded gains of $2.0 million and $8.7 million from changes in the fair value of stock warrants for the three months ended June 30, 2025 and 2024, respectively, and gains of $5.3 million and $8.9 million from changes in the fair value of stock warrants for the six months ended June 30, 2025 and 2024, respectively.The book value of cash; clinic fees, insurance receivables, and other receivables; accounts payable; and accrued expenses and other current liabilities approximate fair value because of the short maturity and high liquidity of these instruments.

Note 6: Property and EquipmentThe Company’s property and equipment balances consisted of the following:June 30, 2025December 31, 2024(in thousands)Leasehold improvements$2,375 $2,332 Furniture & fixtures964 1,106 Computer equipment & software7,054 7,060 Medical equipment1,027 1,082 Software (development in process)343 343 Vehicles632 659 12,395 12,582 Less: accumulated depreciation(7,708)(6,848)Property and equipment, net$4,687 $5,734 Total depreciation of property and equipment recognized on the condensed consolidated statements of operations was $0.6 million for each of the three months ended June 30, 2025 and 2024, respectively, and $1.2 million and $1.1 million for the six months ended June 30, 2025 and 2024, respectively.

P3 Health Partners Inc. | Q2 2025 Form 10-Q | 14

Assets Held for SaleOn November 30, 2024, the Company and certain of its subsidiaries (the “Sellers”) entered into an asset purchase agreement with certain entities affiliated with