P3 Health Partners (PIII) Reaffirms 2023 Guidance, Issues 2024 Outlook
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P3 Health Partners Inc. (“P3” or the “Company”) (NASDAQ: PIII), a patient-centered and physician-led population health management company, is participating in J.P. Morgan’s 42nd Annual Healthcare Conference, being held in San Francisco, CA from January 8-11, 2024. In advance of the associated meetings and presentation, P3 is reaffirming guidance for 2023 and announcing guidance for 2024.
“We made significant strides in 2023 and expect to achieve meaningful profitability in 2024, an important milestone for the company. We have a robust pipeline of strategic partnerships that will drive growth and further validate the P3 business model. And our business continues to gain momentum across all key performance metrics including managing medical cost trend,” said Dr. Sherif Abdou, co-founder and CEO of P3.
Reaffirming full-year 2023 guidance:
- Medicare Advantage Members from 115,000 to 120,000
- Revenue from $1.2 billion to $1.25 billion
- Medical Margin from $155 million to $175 million
- Medical Margin PMPM from $120 to $130
- Adjusted EBITDA is expected to be a loss between $50 million and $30 million
Providing full-year 2024 guidance:
- Medicare Advantage Members from 125,000 to 135,000
- Revenue from $1.45 billion to $1.55 billion
- Medical Margin from $230 million to $250 million
- Medical Margin PMPM from $165 to $175
- Adjusted EBITDA from $20 million to $40 million, as previously announced
Dr. Sherif Abdou, P3’s co-founder and Chief Executive Officer and Atul Kavthekar, P3’s Chief Financial Officer, are scheduled to present on Wednesday, January 10 at 1:30 pm Pacific Time.
A live audio webcast of the presentation is available here. A replay will be available on P3’s investor relations webpage for 30 days following the presentation.
Full-Year 2023 Guidance | ||
| Year Ending | |
| ||
| Low | High |
Medicare Advantage Members | 115,000 | 120,000 |
Total Revenues (in millions) | $1,200 | $1,250 |
Medical Margin (in millions) | $155 | $175 |
Medical Margin PMPM | $120 | $130 |
Adjusted EBITDA Loss (in millions) | ($50) | ($30) |
Full-Year 2024 Guidance | ||
| Year Ending | |
| ||
| Low | High |
Medicare Advantage Members | 125,000 | 135,000 |
Total Revenues (in millions) | $1,450 | $1,550 |
Medical Margin (in millions) | $230 | $250 |
Medical Margin PMPM | $165 | $175 |
Adjusted EBITDA (in millions) | $20 | $40 |
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