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

Segment Reporting (Details)

v3.26.1
Segment Reporting (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2025
USD ($)
segment
Dec. 31, 2024
USD ($)
Segment Reporting [Abstract]    
Number of reportable segments (segment) | segment 1  
Segment Reporting Information [Line Items]    
Medical expense $ (1,519,240) $ (1,559,372)
Total (321,061) (305,991)
Tax benefit (2,025) (4,387)
Net loss (323,086) (310,378)
TOTAL ASSETS [1] 656,641 783,420
Single Reportable Segment [Member]    
Segment Reporting Information [Line Items]    
Revenue from Contract with Customer, Including Assessed Tax 1,459,080 1,500,455
Medical expense (1,405,451) (1,398,143)
Depreciation, Depletion and Amortization (84,163) (86,058)
Other Cost and Expense, Operating (123,319) (140,532)
Interest Expense, Operating (55,034) (22,173)
Interest Income, Operating 1,615 1,689
Total (321,061) (305,991)
Tax benefit (2,025) (4,387)
Net loss (323,086) (310,378)
TOTAL ASSETS 92,458 121,266
Other Medical Expenses (113,789) (161,229)
Other Assets $ 564,183 $ 662,154
[1] The Company’s consolidated balance sheets include the assets and liabilities of its consolidated variable interest entities (“VIEs”). As discussed in Note 21 “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 $8.2 million and $9.3 million as of December 31, 2025 and 2024, 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 $6.6 million and $14.9 million as of December 31, 2025 and 2024, respectively. These VIE assets and liabilities do not include $46.8 million and $40.3 million of net amounts due to affiliates as of December 31, 2025 and 2024, respectively, as these are eliminated in consolidation and not presented within the consolidated balance sheets.
All periods presented have been retroactively adjusted to reflect the 1-for-50 reverse stock split effected on April 11, 2025.