Filing Flows › P3 Health Partners (PIII) › Q2 2026
P3 Health Partners (PIII) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 10, 2026
P3 Health Partners (PIII) reported revenue of $386M for the second quarter 2026 (Q2 2026), +9% from a year earlier and 0% from the quarter before. Operating margin was 10.7%, net earnings $7.4M (1.9% of revenue).
P3 Health Partners, Q2 2026: revenue $386M (+9% year over year), operating margin 10.7%, net earnings $7.4M, operating cash flow −$61.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $386M | 0% | +9% |
| Operating profit | $41.2M | +400% | — |
| Net earnings | $7.4M | +509% | — |
| Operating cash flow | −$61.9M | — | — |
What changed
Revenue was $386.4M in Q2 2026, up 9% year over year and roughly flat from the previous quarter. Capitated revenue was the largest line at 95% of revenue. Capitated revenue added $14.7M year over year (up 4%), 48% of the total change.
Operating profit was $41.2M, a 10.7% margin (up 20.3 points year over year). Total costs fell 11% while revenue rose 9%. The fastest-growing cost line was General & admin (+38%). Net earnings were $7.4M. The effective tax rate was 7.5%.
Operating cash flow was −$61.9M. Non-cash charges added back $21.0M of depreciation and amortization and $866K of share-based compensation. Working capital and other items used $99.5M.
Questions
What was P3 Health Partners' revenue in the second quarter 2026?
P3 Health Partners (PIII) reported revenue of $386M for the second quarter 2026 (Q2 2026), +9% from a year earlier and 0% from the quarter before.
Was P3 Health Partners profitable in the second quarter 2026?
Operating profit was $41.2M (10.7% of revenue) and net earnings $7.4M.
Source: P3 Health Partners 10-Q on SEC EDGAR.