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P3 Health Partners Announces First Quarter 2025 Results
Affirming 2025 guidance Management to Host Conference Call and Webcast May 15, 2025 at 4:30 PM ET HENDERSON, Nev.--(BUSINESS WIRE)-- P3 Health Partners Inc.
About this update from P3 Health Partners Inc.
[{"type":"text","content":"\n Affirming 2025 guidance\n\nManagement to Host Conference Call and Webcast May 15, 2025 at 4:30 PM ET\n\n HENDERSON, Nev.--(BUSINESS WIRE)--\nP3 Health Partners Inc. (“P3” or the “Company”) (NASDAQ: PIII), a patient-centered and physician-led population health management company, today announced its financial results for the first quarter ended March 31, 2025, and affirmed its 2025 guidance.\n\n“Our physician-led care enablement model continues to differentiate P3, delivering meaningful improvements in quality measures and cost management through deeper provider partnerships,” said Aric Coffman, CEO of P3. “Our turnaround plan is ahead of schedule, with three of four markets already achieving breakeven or better in Q1. Beyond our original plan, we've identified additional value creation opportunities through our enhanced complex care programs and payment integrity initiatives. We remain committed to our long-term strategic vision, making targeted investments in technology infrastructure and innovative clinical programs to drive sustainable value for our stakeholders.”\n\nFirst Quarter 2025 Financial Results\n\n\nAverage at-risk membership was 115,900 members for the first quarter, a decrease of 8% compared to the full year average membership from the prior year. The decrease reflects previously disclosed network and payer rationalization.\n\n\nPer-member funding PMPM was $1,063, an increase of 8% compared to the per-member funding PMPM from full year 2024.\n\n\nTotal revenue was $373.2 million, a decrease of 4% compared to $388.5 million in the first quarter of the prior year.\n\n\nMedical margin(1) was $17.2 million compared to $36.6 million in the first quarter of the prior year. Medical Margin included a negative $23 million net impact from prior year claims related to a single payer. Medical margin PMPM(1) was $49 compared to a medical margin PMPM of $96 in the first quarter of the prior year.\n\n\nAdjusted EBITDA loss(1) was $22.2 million compared to an Adjusted EBITDA loss(1) of $19.8 million in the first quarter of the prior year. Adjusted EBITDA loss included a negative $9 million net impact from prior year claims and retroactive adjustments related to a single payer. Adjusted EBITDA loss PMPM(1) was $64 compared to Adjusted EBITDA loss PMPM of $52 in the first quarter of the prior year.\n\n\n\n\nFiscal 2025 Guidance\n...