Quarterly report pursuant to Section 13 or 15(d)

Variable Interest Entities - Balance Sheet (Details)

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Variable Interest Entities - Balance Sheet (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
ASSETS          
Cash $ 73,086   $ 73,086   $ 36,320
Health plan receivable 153,259   153,259   118,497
Prepaid expenses and other current assets 8,478   8,478   3,613
Property and equipment, net 7,537   7,537   8,686
Other long-term assets 18,445   18,445   19,531
TOTAL ASSETS [1] 892,759   892,759   860,967
LIABILITIES AND MEMBERS’ DEFICIT          
Accounts payable 7,989   7,989   8,663
Accrued expenses and other current liabilities 39,900   39,900   36,884
Accrued payroll 3,744   3,744   3,506
Claims payable 233,761   233,761   178,009
TOTAL LIABILITIES [1] 527,932   527,932   427,305
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY $ 892,759   $ 892,759   $ 860,967
Accounts Payable, Noncurrent, Related Party, Type [Extensible Enumeration] Affiliated Entity [Member]   Affiliated Entity [Member]   Affiliated Entity [Member]
TOTAL OPERATING REVENUE $ 379,157 $ 329,086 $ 767,645 $ 631,163  
Expense 410,491 350,119 842,810 701,013  
Net loss (28,774) (27,582) (78,380) (80,030)  
VIE          
ASSETS          
Cash 7,865   7,865   $ 6,491
Clinic fees, insurance and other receivable 1,557   1,557   138
Health plan receivable 576   576   571
Prepaid expenses and other current assets 931   931   1,261
Property and equipment, net 46   46   23
Other long-term assets 129   129   153
TOTAL ASSETS 11,104   11,104   8,637
LIABILITIES AND MEMBERS’ DEFICIT          
Accounts payable 4,393   4,393   5,073
Accrued expenses and other current liabilities 955   955   515
Accrued payroll 3,433   3,433   3,141
Claims payable 4,600   4,600   3,973
Other long-term liabilities 934   934   946
Due to consolidated entities of P3 47,018   47,018   44,200
TOTAL LIABILITIES 61,333   61,333   57,848
MEMBERS’ DEFICIT (50,229)   (50,229)   (49,211)
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY 11,104   11,104   $ 8,637
TOTAL OPERATING REVENUE 9,354 9,511 19,118 20,350  
Expense 9,803 11,847 19,700 25,522  
Net loss $ (449) $ (2,336) $ (582) $ (5,172)  
[1] The Company’s condensed consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 13 “Variable Interest Entities,” P3 LLC is itself a VIE. P3 LLC represents substantially all the assets and liabilities of the Company. As a result, the language and amounts below refer only to VIEs held at the P3 LLC level. The condensed consolidated balance sheets include total assets that can be used only to settle obligations of P3 LLC’s consolidated VIEs totaling $11.1 million and $8.6 million as of June 30, 2024 and December 31, 2023, respectively, and total liabilities of P3 LLC’s consolidated VIEs for which creditors do not have recourse to the general credit of the Company totaled $14.3 million and $13.6 million as of June 30, 2024 and December 31, 2023, respectively. These VIE assets and liabilities do not include $47.0 million and $44.2 million of net amounts due to affiliates as of June 30, 2024 and December 31, 2023, respectively, as these are eliminated in consolidation and not presented within the condensed consolidated balance sheets.