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

Variable Interest Entities (Tables)

v3.26.1
Variable Interest Entities (Tables)
12 Months Ended
Dec. 31, 2025
Variable Interest Entities  
Summary of balance sheet and income statement of VIEs
Since P3 LLC represents substantially all the assets and liabilities of the Company, the following tables provide a summary of the assets, liabilities, and operating performance of only the Network VIEs held at the P3 LLC level.
December 31,
2025 2024
(in thousands)
ASSETS
Cash $ 4,776  $ 5,216 
Clinic fees, insurance and other receivable 785  2,440 
Prepaid expenses and other current assets 487  447 
Property and equipment, net 32  37 
Intangible assets, net 660  — 
Other long-term assets 1,433  1,116 
TOTAL ASSETS $ 8,173  $ 9,256 
LIABILITIES AND MEMBERS’ DEFICIT
Accounts payable $ 394  $ 4,521 
Accrued expenses and other current liabilities 241  677 
Accrued payroll 887  3,795 
Claims payable 4,199  5,004 
Other long-term liabilities 922  919 
Due to consolidated entities of P3 46,774  40,264 
TOTAL LIABILITIES 53,417  55,180
MEMBERS’ DEFICIT (45,244) (45,924)
TOTAL LIABILITIES AND MEMBERS’ DEFICIT $ 8,173  $ 9,256 
Year Ended December 31,
2025 2024
(in thousands)
Revenue $ 27,644  $ 36,187 
Expense 27,465  39,520 
Net income (loss) $ 179  $ (3,333)