vs
Side-by-side financial comparison of P3 Health Partners Inc. (PIII) and QUINSTREET, INC (QNST). 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 $287.8M, roughly 1.3× QUINSTREET, INC). QUINSTREET, INC runs the higher net margin — 17.4% vs -19.6%, a 37.1% gap on every dollar of revenue. On growth, P3 Health Partners Inc. posted the faster year-over-year revenue change (3.8% vs 1.9%). Over the past eight quarters, QUINSTREET, INC's revenue compounded faster (53.2% CAGR vs -0.5%).
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.
QUINSTREET, INCQNSTEarnings & Financial Report
QuinStreet, Inc. is a publicly traded online marketing company based in Foster City, California. The company helps generate web traffic for clients by acquiring popular domain names.
PIII vs QNST — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $384.8M | $287.8M |
| Net Profit | $-75.5M | $50.2M |
| Gross Margin | — | 9.6% |
| Operating Margin | -40.0% | 0.4% |
| Net Margin | -19.6% | 17.4% |
| Revenue YoY | 3.8% | 1.9% |
| Net Profit YoY | -28.8% | 3342.5% |
| EPS (diluted) | $-23.08 | $0.87 |
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 | $287.8M | ||
| Q3 25 | $345.3M | $285.9M | ||
| Q2 25 | $355.8M | — | ||
| Q1 25 | $373.2M | $269.8M | ||
| Q4 24 | $370.7M | $282.6M | ||
| Q3 24 | $362.1M | $279.2M | ||
| Q2 24 | $379.2M | $198.3M | ||
| Q1 24 | $388.5M | $168.6M |
| Q4 25 | $-75.5M | $50.2M | ||
| Q3 25 | $-31.6M | $4.5M | ||
| Q2 25 | $-20.4M | — | ||
| Q1 25 | $-20.5M | $4.4M | ||
| Q4 24 | $-58.6M | $-1.5M | ||
| Q3 24 | $-46.5M | $-1.4M | ||
| Q2 24 | $-12.0M | $-2.2M | ||
| Q1 24 | $-18.7M | $-7.0M |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 10.3% | ||
| Q4 24 | — | 9.5% | ||
| Q3 24 | — | 10.2% | ||
| Q2 24 | — | 8.8% | ||
| Q1 24 | — | 8.5% |
| Q4 25 | -40.0% | 0.4% | ||
| Q3 25 | -12.8% | 1.7% | ||
| Q2 25 | -9.6% | — | ||
| Q1 25 | -10.2% | 1.8% | ||
| Q4 24 | -37.4% | -0.5% | ||
| Q3 24 | -29.5% | -0.4% | ||
| Q2 24 | -8.3% | -0.7% | ||
| Q1 24 | -11.3% | -3.2% |
| Q4 25 | -19.6% | 17.4% | ||
| Q3 25 | -9.1% | 1.6% | ||
| Q2 25 | -5.7% | — | ||
| Q1 25 | -5.5% | 1.6% | ||
| Q4 24 | -15.8% | -0.5% | ||
| Q3 24 | -12.8% | -0.5% | ||
| Q2 24 | -3.2% | -1.1% | ||
| Q1 24 | -4.8% | -4.2% |
| Q4 25 | $-23.08 | $0.87 | ||
| Q3 25 | $-9.67 | $0.08 | ||
| Q2 25 | $-6.23 | — | ||
| Q1 25 | $-6.28 | $0.08 | ||
| Q4 24 | $-23.13 | $-0.03 | ||
| Q3 24 | $-15.70 | $-0.02 | ||
| Q2 24 | $-7.37 | $-0.04 | ||
| Q1 24 | $-7.86 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $25.0M | $107.0M |
| Total DebtLower is stronger | $228.4M | — |
| Stockholders' EquityBook value | $-155.2M | $294.4M |
| Total Assets | $656.6M | $493.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $25.0M | $107.0M | ||
| Q3 25 | $37.7M | $101.3M | ||
| Q2 25 | $38.6M | — | ||
| Q1 25 | $40.1M | $81.8M | ||
| Q4 24 | $38.8M | $57.8M | ||
| Q3 24 | $63.0M | $25.0M | ||
| Q2 24 | $73.1M | $50.5M | ||
| Q1 24 | $27.3M | $39.6M |
| 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 | $294.4M | ||
| Q3 25 | $-18.7M | $246.7M | ||
| Q2 25 | $44.5M | — | ||
| Q1 25 | $63.3M | $235.5M | ||
| Q4 24 | $75.9M | $224.3M | ||
| Q3 24 | $120.5M | $219.8M | ||
| Q2 24 | $166.8M | $216.8M | ||
| Q1 24 | $146.6M | $215.0M |
| Q4 25 | $656.6M | $493.0M | ||
| Q3 25 | $683.6M | $442.6M | ||
| Q2 25 | $731.6M | — | ||
| Q1 25 | $783.9M | $417.2M | ||
| Q4 24 | $783.4M | $409.6M | ||
| Q3 24 | $833.3M | $401.2M | ||
| Q2 24 | $892.8M | $368.5M | ||
| Q1 24 | $855.9M | $349.3M |
| 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 | $-25.7M | $21.6M |
| Free Cash FlowOCF − Capex | — | $20.7M |
| FCF MarginFCF / Revenue | — | 7.2% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | — | 0.43× |
| TTM Free Cash FlowTrailing 4 quarters | — | $106.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-25.7M | $21.6M | ||
| Q3 25 | $-15.4M | $19.6M | ||
| Q2 25 | $-16.6M | — | ||
| Q1 25 | $-33.5M | $30.1M | ||
| Q4 24 | $-57.2M | $38.7M | ||
| Q3 24 | $-22.6M | $-13.7M | ||
| Q2 24 | $-10.2M | $16.6M | ||
| Q1 24 | $-20.0M | $4.1M |
| Q4 25 | — | $20.7M | ||
| Q3 25 | — | $18.4M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $29.5M | ||
| Q4 24 | — | $38.2M | ||
| Q3 24 | — | $-14.1M | ||
| Q2 24 | — | $15.4M | ||
| Q1 24 | — | $2.9M |
| Q4 25 | — | 7.2% | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 10.9% | ||
| Q4 24 | — | 13.5% | ||
| Q3 24 | — | -5.1% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 1.7% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 0.0% | 0.2% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | 0.0% | 0.6% | ||
| Q1 24 | 0.0% | 0.7% |
| Q4 25 | — | 0.43× | ||
| Q3 25 | — | 4.32× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 6.82× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PIII
| Capitated Revenue | $366.2M | 95% |
| Health Care Patient Service | $18.6M | 5% |
| Health Care Care Coordination Management Fees | $2.7M | 1% |
QNST
| Financial Service | $216.8M | 75% |
| Home Services And Other Revenue | $71.0M | 25% |
