# P3 Health Partners Inc.: overview

PIII · Nasdaq · CIK 1832511 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/piii.md) · [Financials](/companies/piii/financials.md) · [Filings](/companies/piii/filings.md) · [Insiders](/companies/piii/insiders.md)

Latest reported revenue: [$386.4m](/filings/0001832511-26-000034.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 10, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001832511-26-000034).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [362](/filings/0001832511-25-000025.md) | [371 d](/filings/0001832511-26-000011.md) | [373](/filings/0001832511-26-000022.md) | [356](/filings/0001832511-26-000034.md) | [345](/filings/0001832511-25-000025.md) | [385 d](/filings/0001832511-26-000011.md) | [386](/filings/0001832511-26-000022.md) | [386](/filings/0001832511-26-000034.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(29.5%)](/filings/0001832511-25-000025.md) | [(37.4%) d](/filings/0001832511-26-000011.md) | [(10.2%)](/filings/0001832511-26-000022.md) | [(9.6%)](/filings/0001832511-26-000034.md) | [(12.8%)](/filings/0001832511-25-000025.md) | [(40.0%) d](/filings/0001832511-26-000011.md) | [2.1%](/filings/0001832511-26-000022.md) | [10.7%](/filings/0001832511-26-000034.md) |
| Net margin | % | [(12.8%)](/filings/0001832511-25-000025.md) | [(15.8%) d](/filings/0001832511-26-000011.md) | [(5.5%)](/filings/0001832511-26-000022.md) | [(5.7%)](/filings/0001832511-26-000034.md) | [(9.1%)](/filings/0001832511-25-000025.md) | [(19.6%) d](/filings/0001832511-26-000011.md) | [0.3%](/filings/0001832511-26-000022.md) | [1.9%](/filings/0001832511-26-000034.md) |
| Diluted EPS | $ per share | [(15.70)](/filings/0001832511-25-000025.md) | not reported | [(6.28)](/filings/0001832511-26-000022.md) | [(6.23)](/filings/0001832511-26-000034.md) | [(9.67)](/filings/0001832511-25-000025.md) | not reported | [0.32](/filings/0001832511-26-000022.md) | [(0.63)](/filings/0001832511-26-000034.md) |
| Free cash flow | $m | [(22.6) d](/filings/0001832511-25-000025.md) | [(57.2) d](/filings/0001832511-26-000011.md) | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY (2020-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [491](/filings/0001558370-22-015154.md) | [1,049](/filings/0001628280-24-013625.md) | [1,266](/filings/0001628280-25-015305.md) | [1,500](/filings/0001832511-26-000011.md) | [1,459](/filings/0001832511-26-000011.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(5.8%)](/filings/0001558370-22-015154.md) | [(148.7%)](/filings/0001628280-24-013625.md) | [(13.3%)](/filings/0001628280-25-015305.md) | [(21.4%)](/filings/0001832511-26-000011.md) | [(18.5%)](/filings/0001832511-26-000011.md) |
| Net margin | % | [(6.4%)](/filings/0001558370-22-015154.md) | [(25.7%)](/filings/0001628280-24-013625.md) | [(4.6%)](/filings/0001628280-25-015305.md) | [(9.1%)](/filings/0001832511-26-000011.md) | [(10.1%)](/filings/0001832511-26-000011.md) |
| Diluted EPS | $ per share | not reported | [(6.50)](/filings/0001628280-24-013625.md) | [(0.63)](/filings/0001628280-25-015305.md) | [(54.06)](/filings/0001832511-26-000011.md) | [(45.26)](/filings/0001832511-26-000011.md) |
| Free cash flow | $m | [(27.5)](/filings/0001558370-22-015154.md) | [(128)](/filings/0001628280-24-013625.md) | [(77.9)](/filings/0001628280-25-015305.md) | [(110)](/filings/0001832511-26-000011.md) | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/piii/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [JANE STREET GROUP, LLC](/funds/1595888.md) | 2026-06-30 | $588.5k | 54,495 |  | New +54,495 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $448.0k | 41,484 |  | Reduced −29,143 |
| [MYDA Advisors LLC](/funds/1589689.md) | 2026-06-30 | $216.0k | 20,000 |  | New +20,000 |
| [Corient Private Wealth LP](/funds/1948780.md) | 2026-06-30 | $213.2k | 19,737 |  | Reduced −100 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $184.7k | 17,096 |  | Reduced −8,804 |
| [Scientech Research LLC](/funds/2011556.md) | 2026-06-30 | $176.2k | 16,318 |  | New +16,318 |
| [Abundance Wealth Counselors](/funds/1767080.md) | 2026-06-30 | $172.8k | 16,000 |  | New +16,000 |
| [RENAISSANCE TECHNOLOGIES LLC](/funds/1037389.md) | 2026-06-30 | $163.6k | 15,149 |  | New +15,149 |
| [DIVERSIFIED TRUST CO](/funds/1479844.md) | 2026-06-30 | $145.2k | 13,440 |  | Reduced −6,876 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $82.5k | 7,637 |  | Reduced −3,283 |

## Recent filings

[All 397 filings](/companies/piii/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-09-11 | 20:28 ET | [8-K](/filings/0001832511-26-000036.md) | 1.01 Entry into a material agreement; 3.02 Unregistered sale of equity; 5.03 Amendment to articles or bylaws | 0001832511-26-000036 |
| 2026-08-12 | 20:30 ET | [SCHEDULE 13D/A](/filings/0001104659-26-094924.md) | Ownership report, active investor, amended | 0001104659-26-094924 |
| 2026-08-10 | 20:13 ET | [10-Q](/filings/0001832511-26-000034.md) | Quarterly report, period 2026-06-30 | 0001832511-26-000034 |
| 2026-08-10 | 20:03 ET | [8-K](/filings/0001832511-26-000032.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001832511-26-000032 |
| 2026-07-06 | 21:02 ET | [8-K](/filings/0001832511-26-000029.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001832511-26-000029 |
| 2026-06-10 | 21:54 ET | [8-K](/filings/0001832511-26-000027.md) | 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001832511-26-000027 |
| 2026-05-26 | 20:06 ET | [8-K](/filings/0001832511-26-000026.md) | 3.01 Delisting notice; 9.01 Financial statements and exhibits | 0001832511-26-000026 |
| 2026-05-15 | 20:58 ET | [8-K](/filings/0001832511-26-000024.md) | 3.01 Delisting notice; 8.01 Other events; 9.01 Financial statements and exhibits | 0001832511-26-000024 |
| 2026-05-14 | 20:29 ET | [10-Q](/filings/0001832511-26-000022.md) | Quarterly report, period 2026-03-31 | 0001832511-26-000022 |
| 2026-05-14 | 20:10 ET | [8-K](/filings/0001832511-26-000021.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001832511-26-000021 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001832511-26-000011.md), filed Mar 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/81eadd6a-baa3-47df-823e-5a624ccfc685)

## About the filer

- CIK: 1832511
- Tickers: PIII, PIIIW
- Exchange: Nasdaq
- SIC code: 8000 Services-Health Services
- State of incorporation: DE
- Filer category: Non-accelerated filer<br>Smaller reporting company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:48 ET. No prices; not investment advice.
