Company: PIII
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015305
Chunk: 12

Company: P3 Health Partners Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7
Chunk 12
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,252,309 99 %Other patient service revenue16,853 1 14,066 1 Total operating revenue1,500,455 100 1,266,375 100 Operating expense:Medical expense1,559,372 104 1,234,740 98 Premium deficiency reserve53,698 4 (12,705)(1)Corporate, general and administrative expense112,596 8 122,362 10 Sales and marketing expense1,331 0 3,233 0 Depreciation and amortization86,058 6 86,675 7 Impairment of assets held for sale8,058 1 — — Total operating expense1,821,113 121 1,434,305 113 Operating loss(320,658)(21)(167,930)(13)Other (expense) income:Interest expense, net(22,173)(1)(15,985)(1)Mark-to-market of stock warrants22,114 1 433 0 Gain on asset sale, net13,269 1 — — Other1,457 0 (249)(0)Total other income (expense)14,667 1 (15,801)(1)Loss before income taxes(305,991)(20)(183,731)(15)Income tax provision(4,387)(0)(2,695)(0)Net loss(310,378)(21)(186,426)(15)Net loss attributable to redeemable non-controlling interest(174,529)(12)(128,653)(10)Net loss attributable to controlling interest$(135,849)(9)%$(57,773)(5)%

Comparison of the Year Ended December 31, 2024 to the Year Ended December 31, 2023 

Revenue

Year Ended December 31,Change20242023Amount%(dollars in thousands)Capitated revenue$1,483,602 $1,252,309 $231,293 18 %Other patient service revenue16,853 14,066 2,787 20 %Total operating revenue$1,500,455 $1,266,375 $234,080 18 %

Capitated revenue was $1.5 billion for the year ended December 31, 2024, an increase of $231.3 million, or 18%, compared to $1