Company: PIII
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-026021
Chunk: 33

Company: P3 Health Partners Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 33
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-controlling Interest

We consolidate the financial results of P3 LLC and report a non-controlling interest on our condensed consolidated statements of operations, representing the portion of net income or loss attributable to the non-controlling interest. The weighted average ownership percentages during the period are used to calculate the net income or loss attributable to P3 Health Partners Inc. and the non-controlling interest.

P3 Health Partners Inc. | Q1 2025 Form 10-Q | 29

Results of Operations

The following tables set forth our condensed consolidated statements of operations data for the periods indicated. Amounts may not sum due to rounding.

Three Months EndedMarch 31, 2025% of RevenueThree Months EndedMarch 31, 2024% of Revenue (dollars in thousands)Operating revenue:Capitated revenue$369,517 99 %$384,134 99 %Other patient service revenue3,708 1 4,354 1 Total operating revenue373,225 100 388,488 100 Operating expense:Medical expense372,043 100 382,057 98 Premium deficiency reserve(6,962)(2)1,000 0 Corporate, general and administrative expense24,999 7 27,401 7 Sales and marketing expense181 0 322 0 Depreciation and amortization21,052 6 21,539 6 Total operating expense411,313 110 432,319 111 Operating loss(38,088)(10)(43,831)(11)Other (expense) income:Interest expense, net(8,725)(2)(4,256)(1)Mark-to-market of stock warrants3,322 1 216 0 Other318 0 337 0 Total other income (expense)(5,085)(1)(3,703)(1)Loss before income taxes(43,173)(12)(47,534)(12)Income tax provision (expense)(1,073)(0)(2,072)(1)Net loss(44,246)(12)(49,606)(13)Net loss attributable to redeemable non-controlling interest(23,766)(6)(30,906)(8)Net loss attributable to controlling interest$(20,480)(5)%$(18,700)(5)%

Comparison of the Three Months Ended March 31, 2025 and 2024

Revenue

Three Months Ended March 31,Change202520