NASDAQ$PIII
P3 Health Partners Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
P3 Health Partners reported Q4 2024 total operating revenue of $370.7M with a net loss of $129.1M and diluted loss per share of $0.36.
Total operating revenue was $370.7 million for the quarter ended December 31, 2024, up 7% year over year on capitated Medicare Advantage membership growth. Net loss was $129.1 million ($0.36 diluted LPS) versus $69.1 million ($0.22 LPS) in Q4 2023. Medical margin and risk-adjustment dynamics remain central to the value-based care model.
- Q4 total operating revenue $370.7M (+7% YoY).
- Net loss $129.1M; diluted LPS $0.36.
- Capitated revenue $367.5M; membership growth supports scale.
- 2025 revenue guide $1.35B–$1.50B with path to profitability focus.
Headline financials
Revenue & EPS history
P3 Health · Revenue · Quarterly
$371M
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
Outlook emphasizes milestones, liquidity runway, and cost discipline.
Tailwinds
- Pipeline progress and partnership economics.
- Cash supports near-term operating plans.
Headwinds
- Operating losses until commercial scale.
- Financing and competition affect funding costs.
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 Q4 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% |
Discussion
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