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P3 Health Partners Reaffirms Guidance for 2023 and Announces Guidance for 2024
HENDERSON, Nev.--(BUSINESS WIRE)-- P3 Health Partners Inc. (“P3” or the “Company”) (NASDAQ: PIII), a patient-centered and physician-led population health
About this update from P3 Health Partners Inc.
[{"type":"text","content":" HENDERSON, Nev.--(BUSINESS WIRE)--\nP3 Health Partners Inc. (“P3” or the “Company”) (NASDAQ: PIII), a patient-centered and physician-led population health management company, is participating in J.P. Morgan’s 42nd Annual Healthcare Conference, being held in San Francisco, CA from January 8-11, 2024. In advance of the associated meetings and presentation, P3 is reaffirming guidance for 2023 and announcing guidance for 2024.\n\n\n“We made significant strides in 2023 and expect to achieve meaningful profitability in 2024, an important milestone for the company. We have a robust pipeline of strategic partnerships that will drive growth and further validate the P3 business model. And our business continues to gain momentum across all key performance metrics including managing medical cost trend,” said Dr. Sherif Abdou, co-founder and CEO of P3.\n\n\nReaffirming full-year 2023 guidance:\n\n\n\nMedicare Advantage Members from 115,000 to 120,000\n\n\n\nRevenue from $1.2 billion to $1.25 billion\n\n\n\nMedical Margin from $155 million to $175 million\n\n\n\nMedical Margin PMPM from $120 to $130\n\n\n\nAdjusted EBITDA is expected to be a loss between $50 million and $30 million\n\n\n\nProviding full-year 2024 guidance:\n\n\n\nMedicare Advantage Members from 125,000 to 135,000\n\n\n\nRevenue from $1.45 billion to $1.55 billion\n\n\n\nMedical Margin from $230 million to $250 million\n\n\n\nMedical Margin PMPM from $165 to $175\n\n\n\nAdjusted EBITDA from $20 million to $40 million, as previously announced\n\n\n\nDr. Sherif Abdou, P3’s co-founder and Chief Executive Officer and Atul Kavthekar, P3’s Chief Financial Officer, are scheduled to present on Wednesday, January 10 at 1:30 pm Pacific Time.\n\n\nA live audio webcast of the presentation is available here. A replay will be available on P3’s investor relations webpage for 30 days following the presentation.\n\n\n\n\nFull-Year 2023 Guidance\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nYear Ending\nDecember 31, 2023\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nLow\n\n\n\n\n\n\nHigh\n\n\n\n\n\n\n\n\nMedicare Advantage Members\n\n\n\n\n\n\n115,000\n\n\n\n\n\n\n120,000\n\n\n\n\n\n\n\n\nTotal Revenues (in millions)\n\n\n\n\n\n\n$1,200\n\n\n\n\n\n\n$1,250\n\n\n\n\n\n\n\n\nMedical Margin (in millions)\n\n\n\n\n\n\n$155\n\n\n\n\n\n\n$175\n\n\n\n\n\n\n\n\nMedical Margin PMPM\n\n\n\n\n\n\n$120\n\n\n\n\n\n...