Filing Flows › P3 Health Partners (PIII) › Q3 2026 › vs Q2 2026
P3 Health Partners (PIII) Q3 2026 vs Q2 2026 (quarter over quarter)
P3 Health Partners's revenue rose $10.0M (+3%) from $386M in Q2 2026 to $396M in Q3 2026. The biggest changes: Health Care Incentive Fees +$8.9M (+86%); Health Care Coordination Management Fees +$1.2M (+14%); Capitated revenue −$107K (0%). Operating margin 5.8% against 10.7% (-4.9 pts).
P3 Health Partners, Q3 2026: revenue $396M (+15% year over year), operating margin 5.8%, net earnings $15.6M, operating cash flow −$685K. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 5.8% | 10.7% | -4.9 pts |
| Net margin | 3.9% | 1.9% | +2.0 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Capitated revenue | $366M | $366M | −$107K | 0% |
| Health Care Incentive Fees | $19.3M | $10.4M | $8.9M | +86% |
| Health Care Coordination Management Fees | $10.0M | $8.8M | $1.2M | +14% |
| Revenue | $396M | $386M | $10.0M | +3% |
| Other income, net | $7.8M | −$24.3M | $32.1M | — |
| Operating profit | $23.0M | $41.2M | −$18.2M | -44% |
| Costs & expenses | $373M | $345M | $28.2M | +8% |
| Pre-tax earnings | $30.8M | $16.9M | $13.9M | +82% |
| General & admin | $34.3M | $32.4M | $1.9M | +6% |
| Other operating costs | $339M | $313M | $26.3M | +8% |
| Net earnings | $15.6M | $7.4M | $8.2M | +110% |
| Minority interests | $15.2M | $8.2M | $6.9M | +85% |
| Income tax | $23K | $1.3M | −$1.2M | -98% |
| Operating cash sources | $37.3M | $90.4M | −$53.1M | -59% |
| Depreciation & amortization | $21.0M | $21.0M | −$6K | 0% |
| Cash used in operations | $685K | $61.9M | −$61.2M | -99% |
| Working capital & other | $37.3M | $91.3M | −$53.9M | -59% |
Questions
How much did P3 Health Partners's revenue grow quarter over quarter in Q3 2026?
P3 Health Partners's revenue rose $10.0M (+3%) from $386M in Q2 2026 to $396M in Q3 2026.
What drove P3 Health Partners's revenue change in Q3 2026?
Health Care Incentive Fees +$8.9M (+86%); Health Care Coordination Management Fees +$1.2M (+14%); Capitated revenue −$107K (0%).