Quarterly report [Sections 13 or 15(d)]

Variable Interest Entities - Balance Sheet (Details)

v3.25.1
Variable Interest Entities - Balance Sheet (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
ASSETS      
Cash $ 40,082   $ 38,816
Health plan receivable 129,350   121,266
Prepaid expenses and other current assets 14,980   14,422
Property and equipment, net 5,308   5,734
Other long-term assets 33,238   19,196
TOTAL ASSETS [1] 783,870   783,420
LIABILITIES AND MEMBERS’ DEFICIT      
Accounts payable 11,503   8,442
Accrued expenses and other current liabilities 27,971   29,416
Accrued payroll 3,216   2,722
Claims payable 268,664   255,089
Other long-term liabilities 31,665   26,001
TOTAL LIABILITIES [1] 662,791   633,891
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY $ 783,870   $ 783,420
Accounts Payable, Noncurrent, Related Party [Extensible Enumeration] Affiliated Entity [Member]   Affiliated Entity [Member]
TOTAL OPERATING REVENUE $ 373,225 $ 388,488  
Expense 411,313 432,319  
Net loss (44,246) (49,606)  
VIE      
ASSETS      
Cash 5,093   $ 5,216
Clinic fees, insurance and other receivable 3,012   2,440
Health plan receivable 0   0
Prepaid expenses and other current assets 450   447
Property and equipment, net 32   37
Other long-term assets 2,075   1,116
TOTAL ASSETS 10,662   9,256
LIABILITIES AND MEMBERS’ DEFICIT      
Accounts payable 4,319   4,521
Accrued expenses and other current liabilities 1,685   677
Accrued payroll 4,338   3,795
Claims payable 4,456   5,004
Other long-term liabilities 840   919
Due to consolidated entities of P3 41,070   40,264
TOTAL LIABILITIES 56,708   55,180
MEMBERS’ DEFICIT (46,046)   (45,924)
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY 10,662   $ 9,256
TOTAL OPERATING REVENUE 8,159 9,764  
Expense 8,154 9,897  
Net loss $ 5 $ (133)  
[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 $10.7 million and $9.3 million as of March 31, 2025 and December 31, 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 $15.6 million and $14.9 million as of March 31, 2025 and December 31, 2024, respectively. These VIE assets and liabilities do not include $41.1 million and $40.3 million of net amounts due to affiliates as of March 31, 2025 and December 31, 2024, respectively, as these are eliminated in consolidation and not presented within the condensed consolidated balance sheets.