earnings
confidence high
sentiment negative
materiality 0.80
P3 Health Q3 revenue $362.1M (+26% YoY) but net loss widens to $102.9M; withdraws FY2024 guidance
P3 Health Partners Inc.
2024-Q3 EPS reported
-$0.64
revenue$1,129,769,000
- Revenue $362.1M, up 26% YoY; capitated revenue $357.7M (+25%).
- Net loss $102.9M vs $37.3M loss in Q3 2023; Adjusted EBITDA loss $71.0M.
- Medical margin nearly zero at $0.5M vs $36.2M prior year; gross profit loss $39.8M.
- Withdraws FY2024 guidance due to lower risk adjustment, prior negative developments, elevated medical costs.
- CEO highlights $130M+ potential improvement opportunities; demand for platform remains strong.