The financials
P3 Health Partners Inc. by the numbers
P3 Health Partners Inc. (PIII) reported revenue of $386M in Q1 2026 (quarter ended March 31, 2026), up 3.5% from the same quarter a year earlier. That came with net income of $1.2M (0.3% of revenue). For the full year FY2025, revenue was $1.46B (−2.8% year on year) and net income −$148M. Its largest product in 2026-Q1 was Capitated at $379M, 95% of the disclosed total, just ahead of Health Care Other at 1.7%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $386M | $373M | +3.5% |
| Operating income | $8.2M | −$38M | to a profit |
| Net income | $1.2M | −$20M | to a profit |
| Diluted EPS | $0.32 | −$6.28 | to a profit |
| Product | Revenue | Share |
|---|---|---|
| Capitated | $379M | 95% |
| Health Care Other | $6.9M | 1.7% |
| Health Care Patient Service | $6.9M | 1.7% |
| Health Care Care Coordination Management Fees | $6.5M | 1.6% |
| Health Care Clinical Fees Insurance | $263K | 0.1% |
| Health Care Incentive Fees | $110K | 0.0% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $400.2M (+13%)
Health Care Incentive Fees grew +424% year on yearHealth Care Clinical Fees Insurance -73% year on year
Segment Latestquarter on quarteryear on year
- Capitated$379.5M$379.5MQoQ +11%year on year +2.7%+11%+2.7%
- Health Care Other$6.9M$6.9MQoQ +86%year on year +86%+86%+86%
- Health Care Patient Service$6.9M$6.9MQoQ +86%year on year +86%+86%+86%
- Health Care Care Coordination Management Fees$6.5M$6.5MQoQ +137%year on year +142%+137%+142%
- Health Care Clinical Fees Insurance$263.0K$263.0KQoQ -70%year on year -73%-70%-73%
- Health Care Incentive Fees$110.0K$110.0KQoQ +45%year on year +424%+45%+424%