P3 Health Partners Inc.PIIIEarnings & Financial Report
P3 Health Partners Inc. is a population health management and value-based care services firm operating primarily in the United States. It partners with primary care providers and health systems to deliver coordinated, high-quality care for patient populations, especially Medicare Advantage beneficiaries, focusing on improving health outcomes and lowering unnecessary healthcare costs.
Revenue
$379.2M
Gross Profit
N/A
Operating Profit
$-31.3M
Net Profit
$-12.0M
Gross Margin
N/A
Operating Margin
-8.3%
Net Margin
-3.2%
YoY Growth
15.2%
EPS
$-7.37
P3 Health Partners Inc. Q2 FY2024 Financial Summary
P3 Health Partners Inc. reported revenue of $379.2M (up 15.2% YoY) for Q2 FY2024, with a net profit of $-12.0M (down 22.5% YoY) (-3.2% margin).
Key Financial Metrics
| Total Revenue | $379.2M |
|---|---|
| Net Profit | $-12.0M |
| Gross Margin | N/A |
| Operating Margin | -8.3% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
P3 Health Partners Inc. Q2 FY2024 revenue of $379.2M breaks down across 4 segments, led by Capitated Revenue at $374.3M (98.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Capitated Revenue | $374.3M | 98.7% |
| Health Care Patient Service | $4.9M | 1.3% |
| Health Care Care Coordination Management Fees | $3.6M | 1.0% |
| Health Care Clinical Fees Insurance Revenue | $1.1M | 0.3% |
P3 Health Partners Inc. Revenue by Segment — Quarterly Trend
P3 Health Partners Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Capitated Revenue and Health Care Patient Service) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Capitated Revenue | $366.2M | $341.6M | $351.7M | $369.5M |
| Health Care Patient Service | $18.6M | $3.7M | $4.1M | $3.7M |
| Health Care Care Coordination Management Fees | $2.7M | $2.8M | $2.7M | $2.7M |
P3 Health Partners Inc. Annual Revenue by Year
P3 Health Partners Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.5B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.5B |
| 2024 | $1.5B |
| 2023 | $1.3B |
| 2022 | $1.0B |
P3 Health Partners Inc. Quarterly Revenue & Net Profit History
P3 Health Partners Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $384.8M | +3.8% | $-75.5M | -19.6% |
| Q3 FY2025 | $345.3M | -4.7% | $-31.6M | -9.1% |
| Q2 FY2025 | $355.8M | -6.2% | $-20.4M | -5.7% |
| Q1 FY2025 | $373.2M | -3.9% | $-20.5M | -5.5% |
| Q4 FY2024 | $370.7M | +6.9% | $-58.6M | -15.8% |
| Q3 FY2024 | $362.1M | +25.6% | $-46.5M | -12.8% |
| Q2 FY2024 | $379.2M | +15.2% | $-12.0M | -3.2% |
| Q1 FY2024 | $388.5M | +28.6% | $-18.7M | -4.8% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $388.5M | $379.2M | $362.1M | $370.7M | $373.2M | $355.8M | $345.3M | $384.8M |
| YoY Growth | 28.6% | 15.2% | 25.6% | 6.9% | -3.9% | -6.2% | -4.7% | 3.8% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $855.9M | $892.8M | $833.3M | $783.4M | $783.9M | $731.6M | $683.6M | $656.6M |
| Liabilities | $470.5M | $527.9M | $569.4M | $633.9M | $662.8M | $644.4M | $664.6M | $796.9M |
| Equity | $146.6M | $166.8M | $120.5M | $75.9M | $63.3M | $44.5M | $-18.7M | $-155.2M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-20.0M | $-10.2M | $-22.6M | $-57.2M | $-33.5M | $-16.6M | $-15.4M | $-25.7M |