Filing Flows › P3 Health Partners (PIII) › Q4 2024
P3 Health Partners (PIII) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 28, 2025
P3 Health Partners (PIII) reported revenue of $371M for the fourth quarter 2024 (Q4 2024), +7% from a year earlier and +2% from the quarter before. Operating margin was -37.4%, net loss $129M (34.8% of revenue).
P3 Health Partners, Q4 2024: revenue $371M (+7% year over year), operating margin -37.4%, net loss $129M, operating cash flow −$57.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $371M | +2% | +7% |
| Operating profit | −$139M | — | — |
| Net earnings | −$129M | — | — |
| Operating cash flow | −$57.2M | — | — |
What changed
Revenue was $370.7M in Q4 2024, up 7% year over year and up 2% from the previous quarter. Capitated Revenue was the largest line at 99% of revenue.
Operating costs exceeded revenue by $138.5M, an operating margin of -37.4%. Total costs grew 24% against revenue growth of 7%. The fastest-growing cost line was General & admin (+28%). The quarter ended with a net loss of $129.1M, wider than the previous quarter's $102.8M loss. Minority interests bore $70.5M of it: to shareholders the quarter was a loss of $58.6M.
Operating cash flow was −$57.2M. Non-cash charges added back $21.2M of depreciation and amortization and $721K of share-based compensation. Working capital and other items added $50.0M.
Questions
What was P3 Health Partners' revenue in the fourth quarter 2024?
P3 Health Partners (PIII) reported revenue of $371M for the fourth quarter 2024 (Q4 2024), +7% from a year earlier and +2% from the quarter before.
Was P3 Health Partners profitable in the fourth quarter 2024?
Operating loss was $139M (-37.4% of revenue) and net loss $129M.
Source: P3 Health Partners 10-K on SEC EDGAR.