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Side-by-side financial comparison of P3 Health Partners Inc. (PIII) and LiveRamp Holdings, Inc. (RAMP). 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 $212.2M, roughly 1.8× LiveRamp Holdings, Inc.). LiveRamp Holdings, Inc. runs the higher net margin — 18.8% vs -19.6%, a 38.4% gap on every dollar of revenue. On growth, LiveRamp Holdings, Inc. posted the faster year-over-year revenue change (8.6% vs 3.8%). Over the past eight quarters, LiveRamp Holdings, Inc.'s revenue compounded faster (11.1% 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.
LiveRamp Holdings, Inc., is an American SaaS company that offers a data connectivity platform whose services include data onboarding, the transfer of offline data online for marketing purposes.
PIII vs RAMP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $384.8M | $212.2M |
| Net Profit | $-75.5M | $39.9M |
| Gross Margin | — | 71.9% |
| Operating Margin | -40.0% | 18.6% |
| Net Margin | -19.6% | 18.8% |
| Revenue YoY | 3.8% | 8.6% |
| Net Profit YoY | -28.8% | 255.7% |
| EPS (diluted) | $-23.08 | $0.62 |
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 | $212.2M | ||
| Q3 25 | $345.3M | $199.8M | ||
| Q2 25 | $355.8M | $194.8M | ||
| Q1 25 | $373.2M | $188.7M | ||
| Q4 24 | $370.7M | $195.4M | ||
| Q3 24 | $362.1M | $185.5M | ||
| Q2 24 | $379.2M | $176.0M | ||
| Q1 24 | $388.5M | $171.9M |
| Q4 25 | $-75.5M | $39.9M | ||
| Q3 25 | $-31.6M | $27.4M | ||
| Q2 25 | $-20.4M | $7.7M | ||
| Q1 25 | $-20.5M | $-6.3M | ||
| Q4 24 | $-58.6M | $11.2M | ||
| Q3 24 | $-46.5M | $1.7M | ||
| Q2 24 | $-12.0M | $-7.5M | ||
| Q1 24 | $-18.7M | $-5.4M |
| Q4 25 | — | 71.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.1% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.4% | ||
| Q2 24 | — | 70.6% | ||
| Q1 24 | — | 72.2% |
| Q4 25 | -40.0% | 18.6% | ||
| Q3 25 | -12.8% | 10.7% | ||
| Q2 25 | -9.6% | 3.7% | ||
| Q1 25 | -10.2% | -6.1% | ||
| Q4 24 | -37.4% | 7.5% | ||
| Q3 24 | -29.5% | 4.0% | ||
| Q2 24 | -8.3% | -3.0% | ||
| Q1 24 | -11.3% | -8.3% |
| Q4 25 | -19.6% | 18.8% | ||
| Q3 25 | -9.1% | 13.7% | ||
| Q2 25 | -5.7% | 4.0% | ||
| Q1 25 | -5.5% | -3.3% | ||
| Q4 24 | -15.8% | 5.7% | ||
| Q3 24 | -12.8% | 0.9% | ||
| Q2 24 | -3.2% | -4.3% | ||
| Q1 24 | -4.8% | -3.1% |
| Q4 25 | $-23.08 | $0.62 | ||
| Q3 25 | $-9.67 | $0.42 | ||
| Q2 25 | $-6.23 | $0.12 | ||
| Q1 25 | $-6.28 | $-0.10 | ||
| Q4 24 | $-23.13 | $0.17 | ||
| Q3 24 | $-15.70 | $0.03 | ||
| Q2 24 | $-7.37 | $-0.11 | ||
| Q1 24 | $-7.86 | $-0.09 |
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 | $403.4M |
| Total DebtLower is stronger | $228.4M | — |
| Stockholders' EquityBook value | $-155.2M | $962.3M |
| Total Assets | $656.6M | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $25.0M | $403.4M | ||
| Q3 25 | $37.7M | $376.9M | ||
| Q2 25 | $38.6M | $371.1M | ||
| Q1 25 | $40.1M | $420.8M | ||
| Q4 24 | $38.8M | $384.3M | ||
| Q3 24 | $63.0M | $348.4M | ||
| Q2 24 | $73.1M | $342.7M | ||
| Q1 24 | $27.3M | $368.9M |
| 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 | $962.3M | ||
| Q3 25 | $-18.7M | $943.8M | ||
| Q2 25 | $44.5M | $947.8M | ||
| Q1 25 | $63.3M | $948.9M | ||
| Q4 24 | $75.9M | $957.7M | ||
| Q3 24 | $120.5M | $932.1M | ||
| Q2 24 | $166.8M | $951.9M | ||
| Q1 24 | $146.6M | $949.1M |
| Q4 25 | $656.6M | $1.3B | ||
| Q3 25 | $683.6M | $1.2B | ||
| Q2 25 | $731.6M | $1.2B | ||
| Q1 25 | $783.9M | $1.3B | ||
| Q4 24 | $783.4M | $1.3B | ||
| Q3 24 | $833.3M | $1.2B | ||
| Q2 24 | $892.8M | $1.2B | ||
| Q1 24 | $855.9M | $1.2B |
| 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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-25.7M | — | ||
| Q3 25 | $-15.4M | $57.4M | ||
| Q2 25 | $-16.6M | $-15.8M | ||
| Q1 25 | $-33.5M | — | ||
| Q4 24 | $-57.2M | $45.1M | ||
| Q3 24 | $-22.6M | $55.6M | ||
| Q2 24 | $-10.2M | $-9.3M | ||
| Q1 24 | $-20.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $56.8M | ||
| Q2 25 | — | $-16.2M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $44.8M | ||
| Q3 24 | — | $55.4M | ||
| Q2 24 | — | $-9.6M | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 28.4% | ||
| Q2 25 | — | -8.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 22.9% | ||
| Q3 24 | — | 29.8% | ||
| Q2 24 | — | -5.4% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 0.0% | 0.1% | ||
| Q3 24 | 0.0% | 0.1% | ||
| Q2 24 | 0.0% | 0.1% | ||
| Q1 24 | 0.0% | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.09× | ||
| Q2 25 | — | -2.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.02× | ||
| Q3 24 | — | 32.10× | ||
| 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% |
RAMP
Segment breakdown not available.
