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Mar 31, 2024
P3 Health Q1 2024 Earnings Report
P3 Health Partners' first quarter performance in 2024 was reported, showing revenue growth and progress towards profitability.
Key Takeaways
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.
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.
Positive Outlook
- 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
Challenges Ahead
- 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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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