Annual report [Section 13 and 15(d), not S-K Item 405]

Variable Interest Entities - Balance Sheet (Details)

v3.25.1
Variable Interest Entities - Balance Sheet (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash $ 38,816 $ 36,320
Health plan receivable 121,266 118,497
Prepaid expenses and other current assets 14,422 3,613
Property and equipment, net 5,734 8,686
Other long-term assets 19,196 19,531
TOTAL ASSETS [1] 783,420 860,967
LIABILITIES AND MEMBERS’ DEFICIT    
Accounts payable 8,442 8,663
Accrued expenses and other current liabilities 29,416 36,884
Accrued payroll 2,722 3,506
Claims payable 255,089 178,009
Other long-term liabilities 26,001 0
TOTAL LIABILITIES [1] 633,891 427,305
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY $ 783,420 $ 860,967
Accounts Payable, Noncurrent, Related Party [Extensible Enumeration] Affiliated Entity [Member] Affiliated Entity [Member]
TOTAL OPERATING REVENUE $ 1,500,455 $ 1,266,375
Expense 1,821,113 1,434,305
Net loss (310,378) (186,426)
VIE    
ASSETS    
Cash 5,216 6,491
Clinic fees, insurance and other receivable 2,440 138
Health plan receivable 0 571
Prepaid expenses and other current assets 447 1,261
Property and equipment, net 37 23
Other long-term assets 1,116 153
TOTAL ASSETS 9,256 8,637
LIABILITIES AND MEMBERS’ DEFICIT    
Accounts payable 4,521 5,073
Accrued expenses and other current liabilities 677 515
Accrued payroll 3,795 3,141
Claims payable 5,004 3,973
Other long-term liabilities 919 946
Due to consolidated entities of P3 40,264 44,200
TOTAL LIABILITIES 55,180 57,848
MEMBERS’ DEFICIT (45,924) (49,211)
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY 9,256 8,637
TOTAL OPERATING REVENUE 36,187 39,551
Expense 39,520 45,999
Net loss $ (3,333) $ (6,448)
[1] The Company’s consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 20 “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 consolidated balance sheets include total assets that can be used only to settle obligations of P3 LLC’s consolidated VIEs totaling $9.3 million and $8.6 million as of December 31, 2024 and 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 $14.9 million and $13.6 million as of December 31, 2024 and 2023, respectively. These VIE assets and liabilities do not include $40.3 million and $44.2 million of net amounts due to affiliates as of December 31, 2024 and 2023, respectively, as these are eliminated in consolidation and not presented within the consolidated balance sheets.