Company: PIII
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001832511-25-000013
Chunk: 108

Company: P3 Health Partners Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 108
---
 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 six months ended June 30, 2025.As of June 30, 2025 and 2024, there was no fair value adjustment to redeemable non-controlling interest recorded as the fair value of redeemable non-controlling interest was greater than the carrying value.

P3 Health Partners Inc. | Q2 2025 Form 10-Q | 19

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 June 30,Six Months Ended June 30,2025202420252024(in thousands)Operating revenue$355,788 $379,157 $729,013 $767,645 Less:Medical claims expense(321,109)(333,217)(673,426)(680,799)Other medical expense(1)(30,241)(31,954)(49,967)(66,429)Depreciation and amortization(21,083)(21,693)(42,135)(43,232)Other segment items(2)(15,352)(15,095)(30,252)(43,656)Interest expense, net(10,145)(5,436)(18,870)(9,692)Interest income458 432 780 823 Loss before income taxes(41,684)(27,806)(84,857)(75,340)Income tax provision(1,981)(968)(3,054)(3,040)Net loss$(43,665)$(28,774)$(87,911)$(78,380)June 30, 2025December 31, 2024(in thousands)Segment assets$93,463 $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