Company: PIII
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015305
Chunk: 299

Company: P3 Health Partners Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 299
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Additional paid in capital579,093 509,442 Accumulated deficit (503,193)(367,344)TOTAL STOCKHOLDERS’ EQUITY 75,936 142,130 TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY $783,420 $860,967 

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(1)The Company’s consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 20 “Variable Interest Entities,” P3 LLC is itself a VIE. P3 LLC represents substantially all the assets and liabilities of the Company. As a result, the language and amounts below refer only to VIEs held at the P3 LLC level. The consolidated balance sheets include total assets that can be used only to settle obligations of P3 LLC’s consolidated VIEs totaling $9.3 million and $8.6 million as of December 31, 2024 and 2023, respectively, and total liabilities of P3 LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $14.9 million and $13.6 million as of December 31, 2024 and 2023, respectively. These VIE assets and liabilities do not include $40.3 million and $44.2 million of net amounts due to affiliates as of December 31, 2024 and 2023, respectively, as these are eliminated in consolidation and not presented within the consolidated balance sheets.

See accompanying notes to consolidated financial statements.

P3 Health Partners Inc. | 2024 Form 10-K | 79

P3 HEALTH PARTNERS INC. and SUBSIDIARIES 

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

Year Ended December 31,20242023OPERATING REVENUE:Capitated revenue$1,483,602 $1,252,309 Other patient service revenue16,853 14,066 TOTAL OPERATING REVENUE1,500,455 1,266,375 OPERATING EXPENSE:Medical expense1,559,372 1,234,740 Premium deficiency reserve53,698 (12,705)Corporate, general and administrative expense112,596 122,362 Sales and marketing expense1,331 3,233 Depreciation and amortization86,058 86