Get notified when PIII files again. Create a free account and we'll email you the moment its next filing is analyzed.

Get filing alerts

Red Flags Detected

  • Substantial Doubt About Ability to Continue As a Going Concern (new) — Going-concern disclosure persists with $21.3M cash, $209.2M working-capital deficit, and $89.4M operating cash outflow for six months, despite improved equity from debt conversion.
  • Cumulative Preferred Stock Dividend Burden (new) — New $252.5M debt-to-preferred conversion plus $51.3M Series D issuance created $9.6M quarterly dividend obligation that converted Q2 net income into a loss for common shareholders.
  • Cpf Ownership Concentration and Governance Control (worsened) — CPF now holds all preferred stock, ~40% common equity, board designation rights, and protective provisions, creating potential conflicts between CPF's interests and other common shareholders.
NASDAQ: PIII P3 Health Partners Inc. 10-Q

PIII: revenue $386.4M, net income $7.4M. PIII swings to operating income on medical-cost relief

Filed August 10, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 14, 2025 · ~2 min read

Key Changes

  • high

    Operating income swung from a loss to income in Q2 2026, driven by reduction in medical expense and noncash prior-period claims relief. Revenue rose 8.6% to $386.4M despite membership decline.

    MD&A: Operating Results verify on EDGAR →
  • high

    Converted debt to cumulative preferred stock (13.5%-19.5% dividend rates) and raised in new Series D preferred. Q2 net income of $7.4M became a loss to common shareholders after preferred dividends; liquidation preference now exceeds.

    Notes: Debt Restructuring & Preferred Stock view on EDGAR →
  • high

    Cash fell to (from YoY) while operating cash outflow worsened for six months. Going-concern disclosure persists despite improved equity position from debt conversion.

    Notes: Going Concern verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

Read 3 full reports/month free No card required. Takes 30 seconds.

Want to see a complete report first? Today's free report (EPM 10-K) is open in full — no account needed.

Partner

Trade PIII commission-free

Open an account, get a free stock.

Sign up

Investing involves risk. Free stock terms apply.

Was this report useful?
View original filing on SEC.gov View full financials on EDGAR ↗

Figures/quotes linked to EDGAR · Narrative written by AI · Aug 11, 2026 · How we verify