secwatch.observer — SEC 8-K summary
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Issuer:     P3 Health Partners Inc. (PIII)
CIK:        0001832511
Form:       8-K
Filed at:   2026-05-14T20:10:41+00:00
Accession:  0001832511-26-000021
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

P3 Health Partners reports Q1 net income $3M, raises FY 2026 adjusted EBITDA guidance to $20-60M
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- Q1 revenue $386M (+4% YoY); net income $3M vs net loss $44.2M prior year.
- Adjusted EBITDA $25.8M ($81 PMPM); cites contract restructuring and operational redesign.
- At-risk membership ~106,000, down 10% YoY due to intentional network rationalization.
- Full-year 2026 adjusted EBITDA guidance raised to $20-$60M (midpoint $40M).
- Medical margin $73.7M; excluding prior-year development and settlements $56.1M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832511/000183251126000021/0001832511-26-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832511/000183251126000021/piii-20260514.htm
  HTML page:      https://secwatch.observer/filing/0001832511-26-000021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer