v3.26.1
Variable Interest Entities - Balance Sheet (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
ASSETS          
Cash $ 21,272 $ 38,581 $ 21,272 $ 38,581 $ 25,012
Health Plan Settlement Receivables, Current 135,273   135,273   92,458
Prepaid expenses and other current assets 12,517   12,517   11,439
Property and equipment, net 2,527   2,527   3,374
Intangible assets, net 452,405   452,405   492,423
Other long-term assets 20,122   20,122   27,761
TOTAL ASSETS [1] 654,392   654,392   656,641
LIABILITIES AND MEMBERS’ DEFICIT          
Accounts payable 7,569   7,569   11,715
Accrued expenses and other current liabilities 43,265   43,265   42,820
Accrued payroll 2,421   2,421   1,950
Claims payable 228,980   228,980   287,790
Other long-term liabilities $ 9,308   $ 9,308   $ 9,308
Accounts Payable, Noncurrent, Related Party [Extensible Enumeration] Affiliated Entity [Member]   Affiliated Entity [Member]   Affiliated Entity [Member]
TOTAL LIABILITIES [1] $ 516,749   $ 516,749   $ 796,876
Non-controlling interest 1,000   1,000   0
Accumulated deficit (642,474)   (642,474)   (651,141)
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY (DEFICIT) 654,392   654,392   656,641
TOTAL OPERATING REVENUE 386,381 355,788 772,771 729,013  
Expense 345,155 389,912 723,308 801,225  
Net income (loss) 15,651 (43,665) 18,691 (87,911)  
VIE          
ASSETS          
Cash 6,637   6,637   4,776
Clinic fees, insurance and other receivables 608   608   785
Prepaid expenses and other current assets 11   11   487
Property and equipment, net 40   40   32
Intangible assets, net 605   605   660
Other long-term assets 1,414   1,414   1,433
TOTAL ASSETS 9,315   9,315   8,173
LIABILITIES AND MEMBERS’ DEFICIT          
Accounts payable 344   344   394
Accrued expenses and other current liabilities 365   365   241
Accrued payroll 640   640   887
Claims payable 4,316   4,316   4,199
Other long-term liabilities 901   901   922
Due to consolidated entities of P3 47,525   47,525   46,774
TOTAL LIABILITIES 54,091   54,091   53,417
MEMBERS’ DEFICIT (44,776)   (44,776)   (45,244)
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY (DEFICIT) 9,315   9,315   $ 8,173
TOTAL OPERATING REVENUE 5,916 5,395 12,473 13,554  
Expense 6,354 4,525 11,799 12,679  
Net income (loss) (438) $ 870 674 $ 875  
VIE | MSO          
ASSETS          
Cash 272   272    
Clinic fees, insurance and other receivables 13   13    
Health Plan Settlement Receivables, Current 13,585   13,585    
Prepaid expenses and other current assets 169   169    
Intangible assets, net 958   958    
Goodwill, net 4,990   4,990    
Due from consolidated entities of P3 1,039   1,039    
TOTAL ASSETS 21,026   21,026    
LIABILITIES AND MEMBERS’ DEFICIT          
Accounts payable 59   59    
Accrued expenses and other current liabilities 14,969   14,969    
Claims payable 6,132   6,132    
TOTAL LIABILITIES 21,160   21,160    
MEMBERS’ DEFICIT (134)   (134)    
TOTAL LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS’ EQUITY (DEFICIT) 21,026   21,026    
TOTAL OPERATING REVENUE 80,300   187,563    
Expense 83,234   188,696    
Net income (loss) $ (2,934)   $ (1,133)    
[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 $30.3 million and $8.2 million as of June 30, 2026 and December 31, 2025, 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 $6.6 million and $6.6 million as of June 30, 2026 and December 31, 2025, respectively. These VIE assets and liabilities do not include $46.5 million and $46.8 million of net amounts due to affiliates as of June 30, 2026 and December 31, 2025, respectively, as these are eliminated in consolidation and not presented within the condensed consolidated balance sheets.