P3 Health Q4 revenue rises

P3 Health Partners

26/03/2026 20:24

Corrects second bullet in Overview section to say full-year adjusted EBITDA narrowed, not widened

Overview

US population health manager's Q4 revenue rose yr/yr

Adjusted EBITDA loss for full-year 2025 narrowed yr/yr on a normalized basis

Company expects 2026 adjusted EBITDA midpoint of $10 mln

Outlook

P3 Health Partners expects 2026 adjusted EBITDA between $(20) mln and $40 mln, midpoint $10 mln

Company sees 2026 total revenue of $1.5 bln to $1.7 bln

P3 Health Partners expects 2026 medical margin of $160 mln to $200 mln

Result Drivers

NETWORK ALIGNMENT - Co said at-risk membership declined in FY due to intentional network alignment

HIGHER CAPITATED REVENUE - Capitated revenue per member per month rose 9% yr/yr in Q4

NEGATIVE MEDICAL MARGIN - Medical margin turned negative in Q4

Company press release: ID:nBw1z0XPpa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$384.8 mln
$357.65 mln (2 Analysts)
Q4 Net Income
-$165.7 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for P3 Health Partners Inc is $11.00, about 253.7% above its March 25 closing price of $3.11

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)