Quarterly ResultMay 14, 2026, 04:19 PM
P3 Health Q1 Adjusted EBITDA $25.8M; Raises FY26 Guidance to $40M Midpoint
AI Summary
P3 Health Partners Inc. announced its financial results for the first quarter ended March 31, 2026, reporting a significant turnaround with a net income of $3.0 million compared to a net loss of $44.2 million in the prior year. The company delivered $25.8 million in Adjusted EBITDA for the quarter, reflecting the impact of contract restructuring and operational redesign. Based on this strong performance, P3 Health Partners raised its full-year 2026 Adjusted EBITDA guidance to a midpoint of $40 million.
Key Highlights
- Raised full-year 2026 Adjusted EBITDA guidance to a midpoint of $40 million.
- Q1 2026 Adjusted EBITDA was $25.8 million, or $81 PMPM.
- Q1 2026 Net income was $3.0 million, compared to a $44.2 million net loss in Q1 2025.
- Total revenue for Q1 2026 increased 4% to $386 million.
- Medical margin for Q1 2026 was $73.7 million, or $231 PMPM.
- At-risk membership was approximately 106,000 members, a 10% decrease year-over-year.
- Total per-member revenue increased 14% from the prior year.