Company: PIII
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-026021
Chunk: 74

Company: P3 Health Partners Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 74
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)Ownership %Units (in thousands)Ownership %P3 Health Partners Inc.’s ownership of Common Units3,26345.4 %3,25745.4 %Non-controlling interest holders’ ownership of Common Units3,91954.6 3,91954.6 Total Common Units7,182100.0 %7,176100.0 %All periods presented in the table above have been retroactively adjusted to reflect the 1-for-50 reverse stock split effected on April 11, 2025. See Note 3 “Significant Accounting Policies” for further information.During the three months ended March 31, 2024, the Company issued an aggregate of 1,500 shares of Class A common stock to P3 LLC members in connection with such members’ redemptions of an equivalent number of Common Units and corresponding cancellation and retirement of an equivalent number 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 three months ended March 31, 2025.

As of March 31, 2024, there was $20.6 million remeasurement adjustment recorded as the fair value of redeemable non-controlling interest was greater than the carrying value. No similar remeasurement adjustment was required as of March 31, 2025.

P3 Health Partners Inc. | Q1 2025 Form 10-Q | 18

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 March 31,20252024(in thousands)Operating revenue$373,225 $388,488 Less:Medical claims expense(352,317)(347,582)Other medical expense(1)(19,726)(34,475)Depreciation and amortization(21,052)(21,539)Other segment items(2)(14,900)(28,561)Interest expense, net(8,725)(4,256)Interest income322 391 Loss before income taxes(43,173)(47,534)Income tax provision(1,073)(2,072)Net loss$(44,246)$(49,606)March 31,