earnings
confidence high
sentiment positive
materiality 0.80
P3 Health Partners Q2 2026: Net income $15.7M vs loss, raises FY adjusted EBITDA guidance to $80-110M
P3 Health Partners Inc.
- Q2 revenue $386M, +9% YoY; net income $15.7M vs net loss $43.7M prior-year quarter.
- Adjusted EBITDA $54.4M ($173 PMPM) vs -$17.1M (-$49 PMPM) a year ago.
- At-risk membership ~105,000, down 10% YoY on intentional network/payer rationalization.
- Medical margin $97.8M ($311 PMPM); excluding payer settlements and prior-year development, $52.9M ($168 PMPM).
- Raised full-year 2026 adjusted EBITDA guidance to $80-110M; revenue guidance $1.5-1.6B.