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Side-by-side financial comparison of Perion Network Ltd. (PERI) and P3 Health Partners Inc. (PIII). Click either name above to swap in a different company.
P3 Health Partners Inc. is the larger business by last-quarter revenue ($384.8M vs $368.7M, roughly 1.0× Perion Network Ltd.). Perion Network Ltd. runs the higher net margin — 2.1% vs -19.6%, a 21.7% gap on every dollar of revenue. Over the past eight quarters, Perion Network Ltd.'s revenue compounded faster (16.4% CAGR vs -0.5%).
Perion Network Ltd. is a publicly traded advertising technology company that provides digital advertising technology solutions to advertisers, agencies, retailers, and publishers. Its core offerings are delivered through Perion One, a unified omnichannel advertising platform designed to support campaign planning, activation, optimisation, and measurement across channels and verticals including connected television (CTV), digital out-of-home (DOOH), display, video advertising, as well as retai...
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.
PERI vs PIII — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $368.7M | $384.8M |
| Net Profit | $7.7M | $-75.5M |
| Gross Margin | — | — |
| Operating Margin | 2.0% | -40.0% |
| Net Margin | 2.1% | -19.6% |
| Revenue YoY | — | 3.8% |
| Net Profit YoY | — | -28.8% |
| EPS (diluted) | — | $-23.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $384.8M | ||
| Q3 25 | $368.7M | $345.3M | ||
| Q2 25 | $266.5M | $355.8M | ||
| Q1 25 | $157.8M | $373.2M | ||
| Q4 24 | — | $370.7M | ||
| Q3 24 | $508.9M | $362.1M | ||
| Q2 24 | $323.6M | $379.2M | ||
| Q1 24 | $145.2M | $388.5M |
| Q4 25 | — | $-75.5M | ||
| Q3 25 | $7.7M | $-31.6M | ||
| Q2 25 | $5.6M | $-20.4M | ||
| Q1 25 | $11.8M | $-20.5M | ||
| Q4 24 | — | $-58.6M | ||
| Q3 24 | $78.0M | $-46.5M | ||
| Q2 24 | $45.2M | $-12.0M | ||
| Q1 24 | $23.8M | $-18.7M |
| Q4 25 | — | -40.0% | ||
| Q3 25 | 2.0% | -12.8% | ||
| Q2 25 | -1.7% | -9.6% | ||
| Q1 25 | 5.4% | -10.2% | ||
| Q4 24 | — | -37.4% | ||
| Q3 24 | 15.1% | -29.5% | ||
| Q2 24 | 13.7% | -8.3% | ||
| Q1 24 | 16.9% | -11.3% |
| Q4 25 | — | -19.6% | ||
| Q3 25 | 2.1% | -9.1% | ||
| Q2 25 | 2.1% | -5.7% | ||
| Q1 25 | 7.5% | -5.5% | ||
| Q4 24 | — | -15.8% | ||
| Q3 24 | 15.3% | -12.8% | ||
| Q2 24 | 14.0% | -3.2% | ||
| Q1 24 | 16.4% | -4.8% |
| Q4 25 | — | $-23.08 | ||
| Q3 25 | — | $-9.67 | ||
| Q2 25 | — | $-6.23 | ||
| Q1 25 | — | $-6.28 | ||
| Q4 24 | — | $-23.13 | ||
| Q3 24 | — | $-15.70 | ||
| Q2 24 | — | $-7.37 | ||
| Q1 24 | — | $-7.86 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $156.2M | $25.0M |
| Total DebtLower is stronger | — | $228.4M |
| Stockholders' EquityBook value | $722.9M | $-155.2M |
| Total Assets | $915.5M | $656.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $25.0M | ||
| Q3 25 | $156.2M | $37.7M | ||
| Q2 25 | $156.2M | $38.6M | ||
| Q1 25 | $156.2M | $40.1M | ||
| Q4 24 | — | $38.8M | ||
| Q3 24 | $187.6M | $63.0M | ||
| Q2 24 | $187.6M | $73.1M | ||
| Q1 24 | $187.6M | $27.3M |
| Q4 25 | — | $228.4M | ||
| Q3 25 | — | $252.8M | ||
| Q2 25 | — | $182.0M | ||
| Q1 25 | — | $171.1M | ||
| Q4 24 | — | $108.9M | ||
| Q3 24 | — | $133.2M | ||
| Q2 24 | — | $133.1M | ||
| Q1 24 | — | $118.1M |
| Q4 25 | — | $-155.2M | ||
| Q3 25 | $722.9M | $-18.7M | ||
| Q2 25 | $722.9M | $44.5M | ||
| Q1 25 | $722.9M | $63.3M | ||
| Q4 24 | — | $75.9M | ||
| Q3 24 | $718.1M | $120.5M | ||
| Q2 24 | $718.1M | $166.8M | ||
| Q1 24 | $718.1M | $146.6M |
| Q4 25 | — | $656.6M | ||
| Q3 25 | $915.5M | $683.6M | ||
| Q2 25 | $915.5M | $731.6M | ||
| Q1 25 | $915.5M | $783.9M | ||
| Q4 24 | — | $783.4M | ||
| Q3 24 | $1.1B | $833.3M | ||
| Q2 24 | $1.1B | $892.8M | ||
| Q1 24 | $1.1B | $855.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.09× | ||
| Q1 25 | — | 2.71× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.11× | ||
| Q2 24 | — | 0.80× | ||
| Q1 24 | — | 0.81× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.6M | $-25.7M |
| Free Cash FlowOCF − Capex | $-2.9M | — |
| FCF MarginFCF / Revenue | -0.8% | — |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | 0.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-25.7M | ||
| Q3 25 | $2.6M | $-15.4M | ||
| Q2 25 | — | $-16.6M | ||
| Q1 25 | — | $-33.5M | ||
| Q4 24 | — | $-57.2M | ||
| Q3 24 | $105.2M | $-22.6M | ||
| Q2 24 | — | $-10.2M | ||
| Q1 24 | $17.8M | $-20.0M |
| Q4 25 | — | — | ||
| Q3 25 | $-2.9M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $104.7M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $17.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | -0.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 20.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 12.2% | — |
| Q4 25 | — | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | 0.1% | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | 0.1% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 0.34× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.35× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.75× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PERI
| Advertising Solutions | $231.4M | 63% |
| Search Advertising | $137.3M | 37% |
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
