P3 Health Partners Inc. - PIII STOCK NEWS

P3 Health Partners Inc. (NASDAQ: PIII) announced the appointment of Atul Kavthekar as Chief Financial Officer (CFO), effective December 12, 2022. He will oversee the company's finance organization, including Accounting, Treasury, Finance Analytics, and Investor Relations. Erin Darakjian, who served as interim CFO, will continue as Senior Vice President and Chief Accounting Officer. Kavthekar brings extensive financial experience from various industries, aiming to enhance P3's growth and patient care transformation.

P3 Health Partners reported a 59% revenue growth in Q3 2022, totaling $248.3 million, up from $156.2 million in Q3 2021. However, net loss increased to $65.3 million, compared to $32.1 million a year prior, primarily due to a $851.5 million goodwill impairment charge. Year-to-date revenue stands at $791.3 million, a 75% increase year-over-year. Adjusted EBITDA loss for the first nine months was $87.9 million, worse than the prior year's $59.9 million. Guidance for full-year Adjusted EBITDA loss has been revised to $118-$128 million.

P3 Health Partners Inc. (NASDAQ: PIII) will release its third-quarter financial results for the period ended September 30, 2022, on November 14, 2022, at 4:30 PM ET. A conference call will follow the release to provide corporate and financial updates. Investors can access this call via a toll-free number or through a live webcast available on the company's investor website. The conference aims to enhance transparency around P3's performance and future strategies.

P3 Health Partners Inc. (NASDAQ: PIII) will participate in a "fireside chat" at the Credit Suisse 31st Annual Healthcare Conference on November 9 at 2:35 p.m. PST in Rancho Palos Verdes, California. The event will be streamed live, with a replay available on the company’s Investor Relations website. P3 Health, a physician-led population health management company, operates a network of over 2,600 primary care providers, managing care for over 100,000 patients across five states.

P3 Health Partners Inc. (NASDAQ: PIII) announced that it has received a Compliance Letter from the Nasdaq Hearing Panel on October 24, 2022, confirming that the company has cured its filing delinquency. This ensures P3 remains compliant with all applicable listing standards and allows its securities to continue trading on Nasdaq. The letter follows the company's filing of its Annual Report for the fiscal year ended December 31, 2021, and two Quarterly Reports, thereby making P3 current in its filing obligations with the U.S. Securities and Exchange Commission.

P3 Health Partners, Inc. (NASDAQ: PIII) reported a strong revenue growth of 84% in the first half of 2022, totaling $543 million. The at-risk Medicare Advantage membership surpassed 100,000 members. However, net loss increased significantly due to a $851.5 million goodwill impairment, raising PMPM net loss to $1,580. Adjusted EBITDA loss PMPM improved to $78.

The company raised its full-year 2022 revenue guidance to between $1.025 billion and $1.075 billion, driven by membership growth and partnerships.

P3 Health Partners (NASDAQ: PIII) announced the resignation of Chief Financial Officer Eric Atkins, effective November 1, 2022, to pursue a family-related business opportunity in Denver. CEO Sherif Abdou acknowledged Atkins' contributions, noting the doubling of patients served during his tenure. Erin Darakjian, the current Senior VP and Chief Accounting Officer, will serve as interim CFO. The Board of Directors is actively searching for a permanent CFO. Darakjian expressed commitment to continuing the company's mission of patient-centered healthcare amidst this transition.

P3 Health Partners, Inc. (NASDAQ: PIII) announced it will release financial results for the six months ended June 30, 2022, on October 20, 2022, at 4:30 PM ET. A conference call will follow, providing a corporate and financial update. The call will be accessible via toll-free and international lines, and it will be webcast live on the company's Investor page. P3 Health Partners is focused on population health management, enhancing care through a vast network of over 2,600 primary care providers across five states.

P3 Health Partners Inc. (NASDAQ: PIII) announced it received a Staff Delisting Determination from Nasdaq on September 28, 2022, due to non-compliance with financial reporting rules. The determination does not immediately affect trading. The company plans to appeal this ruling and aims to file delinquent reports by October 17, 2022, to regain compliance. The company has faced delays in filing its Annual Report and Quarterly Reports, which were due by September 27, 2022. A hearing request must be made by October 5, 2022, to stay any suspension action.