Published on 29 Mar 2024 on GuruFocus.com via Yahoo Finance
P3 Health Partners Inc. Reports Revenue Growth and Affirms 2024 Guidance, Despite Net Loss
Revenue Growth: PIII reported a 21% year-over-year increase in total revenue to $1.27 billion for the full year 2023, exceeding analyst estimates of $345.4333 million for the quarter.Net Loss: The company's net loss narrowed significantly to $186.4 million for the full year from a net loss of $1.56 billion in the previous year.Adjusted EBITDA: Adjusted EBITDA loss improved to $85.5 million from a loss of $127.9 million in the prior year.Medical Margin Growth: Medical margin increased by 118% year-over-year, indicating improved efficiency in managing medical claims expenses.Membership Increase: At-risk membership grew by approximately 8%, demonstrating PIII's expanding market presence.2024 Outlook: PIII affirms its 2024 guidance with anticipated revenue between $1.45 billion and $1.55 billion and expects to reach Adjusted EBITDA positive.
Warning! GuruFocus has detected 3 Warning Signs with PIII.
