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P3 Health Partners Provides Third-Quarter and Year-to-Date 2022 Financial Results
Strong Third-Quarter YTD 2022 revenue growth of 59% compared to the Third-Quarter YTD 2021 At-risk Medicare Advantage members exceeded 101,000 at the end of
About this update from P3 Health Partners Inc.
[{"type":"text","content":"\n\nStrong Third-Quarter YTD 2022 revenue growth of 59% compared to the Third-Quarter YTD 2021\n\n\nAt-risk Medicare Advantage members exceeded 101,000 at the end of the Third Quarter of 2022\n\n\nThird-Quarter YTD 2022 Net loss PMPM increased to $1,132 from $159 for Third-quarter YTD 2021, primarily due to an $851.5 million goodwill impairment charge recorded in the Second Quarter of 2022\n\n\nAdjusted EBITDA loss PMPM improved in first nine months of 2022 at a PMPM loss of $97 compared to a PMPM loss of $110 in the first nine months of 2021\n\n\nProviding Updated Full-Year 2023 Adjusted EBITDA guidance\n\n\nManagement to Host Conference Call and Webcast November 14, 2022, at 4:30 PM ET\n\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 third quarter and nine months ended September 30, 2022.\n\n“We are pleased to report another strong quarter of growth, with 75% revenue gains year-to-date compared to the prior year period,” said Dr. Sherif Abdou, CEO of P3 Health Partners. “This growth demonstrates the power of our healthcare model, as we enable the payors, patients, and providers to collaborate on the singular mission of better patient outcomes.”\n\nThird-Quarter 2022 Financial Results\n\n\nRevenue was $248.3 million, an increase of 59% compared to $156.2 million in the third quarter of the prior year\n\n\nAt-risk Medicare Advantage members at September 30, 2022 were approximately 101,000, a 67% increase compared to 60,300 at the end of the third quarter of the prior year(1)\n\n\nNet loss was $65.3 million compared to a net loss of $32.1 million in the third quarter of the prior year\n\n\nNet loss per member per month (PMPM) increased to $216 from a loss of $177 in the third quarter of the prior year\n\n\nAdjusted EBITDA(2) loss was $40.3 million compared to an adjusted EBITDA loss of $25.7 million in the third quarter of the prior year\n\n\nAdjusted EBITDA(2) loss PMPM was $133, an improvement from a loss of $142 in the third quarter of the prior year\n\n\nThird-Quarter Year-to-Date 2022 Financial Results\n\n\nRevenue was $791.3 million, an increase of 75% compared to $452.1 million in the first nine months of the prior year\n\n\nNet loss was $1.0 bill...