Company: PIII
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015305
Chunk: 321

Company: P3 Health Partners Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 321
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81

P3 HEALTH PARTNERS INC. and SUBSIDIARIES 

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Year Ended December 31,20242023CASH FLOWS FROM OPERATING ACTIVITIES:Net loss$(310,378)$(186,426)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization86,058 86,675 Equity-based compensation5,752 5,979 Amortization of original issue discount and debt issuance costs87 472 Accretion of contingent consideration— 113 Gain on write off of contingent consideration(4,907)— Gain on asset sale(13,269)— Deferred income taxes(1,090)— Impairment of assets held for sale8,058 — Mark-to-market adjustment of stock warrants(22,114)(433)Premium deficiency reserve53,698 (12,705)Changes in operating assets and liabilities:Health plan receivable(2,769)(46,555)Clinic fees, insurance, and other receivable(990)4,560 Prepaid expenses and other current assets(10,834)(1,243)Other long-term assets(43)(58)Accounts payable, accrued expenses, and other current liabilities(8,101)15,988 Accrued payroll(784)282 Health plan settlements payable20,573 21,384 Claims payable77,080 26,802 Accrued interest7,895 9,587 Other long-term liabilities5,897 — Operating lease liability53 (450)Net cash used in operating activities(110,128)(76,028)CASH FLOWS FROM INVESTING ACTIVITIES:Purchases of property and equipment— (1,827)Proceeds from asset sale14,525 — Net cash provided by (used in) investing activities14,525 (1,827)CASH FLOWS FROM FINANCING ACTIVITIES:Proceeds from long-term debt, net of original issue discount88,057 14,101 Payment of debt issuance costs(103)(173)Proceeds from liability-classified warrants and private placement offering, net of offering costs paid40,496 86,595 Proceeds from at-the-market sales, net of offering costs paid33 — Deferred offering costs paid(507)(175)Payment of tax withhold