Business
P3 Health Partners Announces First Quarter 2026 Results
HENDERSON, Nev., May 14, 2026--P3 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, 2026.
About this update from P3 Health Partners Inc.
[{"type":"text","content":"Raises Full-Year 2026 Adjusted EBITDA Guidance","length":46,"tagName":"p","attribs":{}},{"type":"text","content":"Management to Host Conference Call and Webcast May 14, 2026 at 4:30 PM ET","length":73,"tagName":"p","attribs":{}},{"type":"text","content":"HENDERSON, Nev., May 14, 2026--(BUSINESS WIRE)--P3 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, 2026.","length":288,"tagName":"p"},{"type":"text","content":""Q1 represents a meaningful turning point for the business. The $26 million of adjusted EBITDA we delivered this quarter reflects the cumulative impact of two years of deliberate work, including contract restructuring, network concentration, and operational redesign. Based on the strength of Q1 and our confidence in the underlying trajectory, we are raising our full-year 2026 adjusted EBITDA outlook to a midpoint of $40 million," said Dr. Aric Coffman, CEO of P3.","length":477,"tagName":"p"},{"type":"text","content":"First Quarter 2026 Financial Results","length":36,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"At-risk membership was approximately 106,000 members for the first quarter, a decrease of 10% compared to prior year. The decrease reflects previously disclosed intentional network and payer rationalization. Total lives under management were approximately 135,000 for the quarter, including the approximately 29,000 lives under management service arrangements.","length":360,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Total revenue was $386 million, an increase of 4% compared to the first quarter of the prior year. Total per-member revenue increased 14% from the same period in the prior year driven by contractual restructuring, rate progression, and burden of illness performance.","length":266,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Medical margin(1) for the quarter was $73.7 million, or $231 on a per-member basis. The results include the favorable impact of prior year development and payer settlements recognized in the quarter; excluding these items, medical margin for the quarter was $56.1 million.","length":272,"tagName":"p","attribs":{}}]},{"val":[{"type...