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Mar 31, 2023
P3 Health Q1 2023 Earnings Report
Announced first-quarter 2023 results with capitated revenue increasing 11% and operating loss improving 7% compared to the same period in the prior year.
Key Takeaways
P3 Health Partners reported a strong start to 2023 with a medical margin of $39.2 million or 13.1% of capitated revenue. The company increased its Adjusted EBITDA guidance as a result of the first quarter strength.
Capitated revenue increased 11% compared to the same period in the prior year.
Operating loss improved 7% compared to the same period in the prior year.
Medical margin improvement of 58% compared to the same period in the prior year.
Adjusted EBITDA guidance was increased.
Forward Guidance
The company provided full-year 2023 guidance with revenue between $1.2 billion and $1.25 billion and adjusted EBITDA loss between $(55) million and $(35) million.
Positive Outlook
- Medicare Advantage Members between 115,000 and 120,000
- Total Revenues between $1,200 million and $1,250 million
- Medical margin between $155 million and $175 million
- Medical margin PMPM between $120 and $130
- Adjusted EBITDA Loss between $(55) million and $(35) million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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