Company: PIII
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-026021
Chunk: 8

Company: P3 Health Partners Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 8
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4 million for the three months ended March 31, 2025.The Company categorizes revenue based on various factors such as the nature of contracts as follows:Revenue TypeThree Months Ended March 31, 2025% of Total Three Months Ended March 31, 2024% of Total (dollars in thousands)Capitated revenue$369,517 99.0 %$384,134 98.9 %Other patient service revenue:Clinical fees & insurance revenue992 0.3 1,945 0.5 Care coordination / management fees2,695 0.7 2,390 0.6 Incentive fees21 0.0 19 0.0 Total other patient service revenue3,708 1.0 4,354 1.1 Total revenue$373,225 100.0 %$388,488 100.0 %During the three months ended March 31, 2025 and 2024, five and four health plan customers, respectively, each accounted for 10% or more of total revenue and collectively comprised 75% and 61% of the Company’s total revenue, respectively. Four and three health plan customers, respectively, each accounted for 10% or more of total health plan receivable as of March 31, 2025 and December 31, 2024.

Reverse Stock Split

On April 11, 2025, the Company effected a 1-for-50 reverse stock split of its Class A common stock and Class V common stock, $0.0001 par value. All common stock amounts and references have been retroactively adjusted for all figures presented to reflect this split unless specifically stated otherwise. See Note 12 “Capitalization” included in this Form 10-Q for additional information related to the reverse stock split.

Note 4: Recent Accounting PronouncementsRecent Accounting Pronouncements Not Yet AdoptedASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”)ASU 2024-03 enhances transparency and decision-usefulness of expense disclosures in response to investors’ requests for more detailed, disaggregated expense information, enabling a clearer understanding of a public business entity’s performance and cost structure. The amendments improve disclosure requirements in financial statement notes for specific expense categories, including inventory purchases, employee compensation