NASDAQ$PIII
P3 Health Partners Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
P3 Health Partners' first quarter performance in 2024 was reported, showing revenue growth and progress towards profitability.
P3 Health Partners reported a 29% year-over-year increase in total revenue, reaching $388.5 million in Q1 2024. The company's net loss was $49.6 million, an improvement compared to the previous year. They are reaffirming their 2024 guidance and anticipate reaching Adjusted EBITDA positive in 2024.
- Total revenue increased by 29% year-over-year, reaching $388.5 million.
- Capitated revenue grew by 29% year-over-year, totaling $384.1 million.
- Net loss improved to $49.6 million compared to $52.4 million in the prior year.
- Adjusted EBITDA loss improved to $19.8 million.
Headline financials
Revenue & EPS history
P3 Health · Revenue · Quarterly
$388M
Revenue by segment
P3 Health · $386M total across 2 segments · Q1 2026
- Capitated Revenue$379M—98.2%
- Other Revenue$6.89M—1.8%
Forward guidance
P3 Health Partners reaffirmed its 2024 guidance, anticipating revenue between $1.45 billion and $1.55 billion and expects to achieve Adjusted EBITDA profitability in 2024.
Tailwinds
- Total Revenues (in millions): $1,450 - $1,550
- Medical margin (in millions): $230 - $250
- Medical margin PMPM: $165 - $175
- Adjusted EBITDA (in millions): $20 - $40
- Anticipates reaching Adjusted EBITDA positive in 2024
Headwinds
- Actual results may differ materially depending on a number of factors.
- Uncertainty around certain items that may impact net income (loss), gross profit (loss) or gross profit (loss) PMPM that are not within our control or cannot be reasonably predicted without unreasonable effort.
- Our ability to continue as a going concern
- Our potential need to raise additional capital to fund our existing operations or develop and commercialize new services or expand our operations
- Our ability to achieve or maintain profitability
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q1 2024
-3.8%
Avg return
Earnings day
+1.6%
Avg return
5 days after
-2.0%
Avg return
30 days after
37%
7 / 19 earnings
Positive
+11.2%
Q1 2026
Best reaction
-36.8%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +0.7% | -9.7% | — | |
| Q1 2026 | +11.2% | +194.4% | +239.9% | |
| Q3 2025 | +0.4% | -12.6% | -25.9% | |
| Q2 2025 | -2.5% | +5.4% | +23.9% | |
| Q1 2025 | -0.6% | -5.9% | -19.5% | |
| Q4 2024 | -4.5% | +1.1% | -1.2% | |
| Q3 2024 | -36.8% | -42.2% | -46.0% | |
| Q2 2024 | -2.5% | -8.7% | -24.1% | |
| Q1 2024 | +2.6% | -11.8% | -21.6% | |
| Q4 2023 | -13.3% | -22.4% | -56.3% | |
| Q4 2021 | +3.1% | -7.6% | -12.2% | |
| Q3 2023 | -2.1% | -8.8% | -19.0% | |
| Q2 2023 | +0.9% | -10.8% | -5.0% | |
| Q4 2022 | -5.9% | -12.7% | +15.5% | |
| Q3 2022 | -11.8% | -19.7% | -33.5% | |
| Q1 2022 | -5.9% | +2.1% | -16.8% | |
| Q2 2022 | -4.1% | +0.6% | -14.0% | |
| Q3 2021 | +0.1% | +0.3% | -19.9% | |
| Q2 2021 | -0.7% | -0.2% | +0.3% |
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