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Background We were incorporated in Delaware as Foresight Acquisition Corp. ( Foresight ) on August 20, 2020. On December 3, 2021 (the Closing Date ), we completed the Business Combinations (defined and discussed more fully below) with P3 Health Group Holdings, LLC, a Delaware limited liability company ( P3 Health Group Holdings ) and we changed our name to P3 Health Partners Inc.
The business is unprofitable at the operating level (-18.56% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 3.0% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$91M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$1.47B
▼ -3.0% YoY
Net Income (TTM)
-$126M
▼ -8.9% YoY
Op. Margin
-15.24%
▲ +2.8pp YoY
ROIC
-63.64%
▲ +18.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$85M
▲ +17.2% YoY
Op. Cash Flow (TTM)
-$85M
▲ +17.2% YoY
Net Debt
$297M
Cash & Equiv.
$25M
5Y CAGR: +24.3%
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