P3 Health Partners (NASDAQ:PIII) Issues Quarterly Earnings Results

P3 Health Partners (NASDAQ:PIII) released its earnings results on Thursday. The company reported ($23.02) earnings per share for the quarter, missing the consensus estimate of ($8.06) by ($14.96), FiscalAI reports. The business had revenue of $384.81 million for the quarter, compared to the consensus estimate of $357.65 million. P3 Health Partners had a negative return on equity of 302.33% and a negative net margin of 9.07%.

Here are the key takeaways from P3 Health Partners’ conference call:

• We are guiding to a 2026 Adjusted EBITDA midpoint of $10 million, a roughly $170 million improvement from 2025, with about 75% of that improvement already run-rated from contract renegotiations and CMS rate updates.
• The new Nebraska Medicare Advantage partnership adds 29,000 members (≈$27M revenue in 2026) and includes a two-year glide path to full risk that management says could scale to >$300M of revenue when fully delegated.
• Management highlights operational and clinical strengthening—over half of members are now attributed to Tier 1 providers, expanded complex care programs, and Four-Star status across ~70% of priority MA plans—which they cite as foundational to better cost management and quality.
• Despite progress, full-year Adjusted EBITDA remained a loss of $161.3 million (normalized -$149.1M) with Q4 medical margin deterioration and only $25 million of cash on hand, signaling ongoing liquidity and margin risk.

P3 Health Partners Stock Performance

Shares of P3 Health Partners stock opened at $2.79 on Friday. The company’s 50 day moving average price is $2.47 and its two-hundred day moving average price is $5.23. The firm has a market capitalization of $20.12 million, a P/E ratio of -0.07 and a beta of 0.86. P3 Health Partners has a fifty-two week low of $1.52 and a fifty-two week high of $11.30. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.32 and a quick ratio of 0.32.

Analyst Upgrades and Downgrades

PIII has been the subject of a number of research analyst reports. BTIG Research reissued a “neutral” rating on shares of P3 Health Partners in a report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of P3 Health Partners in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $12.50.

About P3 Health Partners

P3 Health Partners is a healthcare technology and services company that delivers data-driven solutions to support health plans in improving quality measures, risk adjustment accuracy and operational efficiency. The company’s platform integrates advanced analytics, reporting capabilities and workflow automation to help clients optimize performance across value-based care programs and regulatory requirements.

The company’s core offerings include quality measurement and reporting for HEDIS, STAR and other performance frameworks, risk adjustment coding and audit services, and population health analytics.