P3 Health Partners Inc. (PIII) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -27.47M | -25.73M | -15.41M | -16.63M | -33.47M | -57.24M | -22.62M | -10.24M | -20.03M | -15.88M | -7.59M | -28.84M | -23.72M | -31.66M | -20.98M | -45.31M | -27.87M | -65.03M | -5.7M | -21.01M |
| Operating CF Margin % | -7.11% | -6.69% | -4.46% | -4.67% | -8.97% | -15.44% | -6.25% | -2.7% | -5.16% | -4.58% | -2.63% | -8.76% | -7.85% | -12.26% | -8.45% | -16.82% | -10.19% | -35.1% | -3.65% | -14.53% |
| Operating CF Growth % | 17.93% | 55.05% | 31.86% | -62.4% | -67.08% | -260.49% | -198.15% | 64.49% | 15.56% | 49.85% | 63.84% | 36.35% | 14.87% | 51.31% | -268.3% | -115.67% | -112.36% | -164.4% | -227.97% | - |
| Net Income | -18.95M | -165.71M | -31.59M | -43.66M | -44.25M | -58.62M | -46.51M | -12.02M | -49.61M | -25.46M | -37.29M | -9.82M | -52.45M | -94.03M | -11.17M | -154.35M | -10.58M | -155.63M | -32.05M | -29.46M |
| Depreciation & Amortization | 21.07M | 21M | 21.03M | 21.08M | 21.05M | 21.15M | 21.67M | 21.69M | 21.54M | 21.63M | 21.72M | 21.78M | 21.54M | 22M | 21.82M | 21.72M | 21.75M | 8.72M | 456.42K | 429.83K |
| Stock-Based Compensation | 1.05M | 1.1M | 0 | 1.46M | 1.81M | 0 | 0 | 1.62M | 1.45M | 0 | 2.25M | 0 | 977K | 0 | 1.78M | 3.72M | 0 | 0 | 355.09K | 0 |
| Deferred Taxes | 478K | 2.87M | 0 | 0 | 0 | -1.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 30.55M | 65.24M | -26.73M | -7.9M | -9.95M | -44.51M | -46.75M | -28.77M | 644K | -45.96M | -13.18M | -16.95M | 4.88M | 19.96M | -55.39M | 86.64M | -33.96M | 6.21M | 3.49M | 3.18M |
| Working Capital Changes | -61.67M | 49.78M | 21.87M | 12.38M | -2.13M | 25.82M | 48.97M | 7.24M | 5.94M | 33.91M | 18.91M | -23.85M | 1.33M | 20.4M | 21.99M | -3.04M | -5.08M | 75.66M | 22.06M | 4.85M |
| Change in Receivables | -38.12M | -13.07M | 15.27M | 35.89M | -8.08M | 624K | 29.6M | 0 | -25.2M | -2.01M | -14.72M | -6.25M | -18.73M | 5.69M | 17.06M | -6.4M | -43.53M | 0 | -2.13M | 9.59M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -23.06M | 53.8M | 10.82M | 4.61M | 1.59M | 28.87M | 17.04M | 0 | -5.55M | 35.31M | 834K | -18.27M | 8.32M | 11M | 0 | 0 | 35.56M | 0 | 4.61M | -2.02M |
| Cash from Investing | -43K | 198K | -119K | 50K | 0 | -475K | 15M | 0 | 0 | 212K | -387K | -1.19M | -464K | 50.53K | -6.38M | -252K | -1.15M | 260.18M | -6.15M | -1.01M |
| Capital Expenditures | 0 | 198K | -119K | 0 | 0 | 0 | 0 | 0 | 0 | 212K | -387K | -1.19M | -464K | 50.4K | -882K | -524K | -877.16K | -3.41M | -1.11M | -1.31M |
| CapEx % of Revenue | - | 0.05% | 0.03% | - | - | - | - | - | - | 0.06% | 0.13% | 0.36% | 0.15% | 0.02% | 0.36% | 0.19% | 0.32% | 1.84% | 0.71% | 0.91% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | -475K | 15M | 0 | 0 | 0 | 0 | 0 | 0 | -5.5M | -5.5M | 0 | 0 | -52.87M | -4.93M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -43K | 0 | 0 | 50K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.5M | 0 | 272K | -272.19K | 213.95K | -106.34K | 300.3K |
| Cash from Financing | 27.8M | 12.87M | 14.67M | 14.62M | 30.66M | 33.72M | -2.49M | 56.14M | 11.4M | -840K | -86K | 87.16M | 14.1M | 14.71M | -1.18M | -1.24M | -1.12M | -94.14M | -22.59K | 12.54M |
| Debt Issued (Net) | 27.8M | 14.01M | 14.67M | 14.66M | 30.8M | 33.74M | -268K | 14.39M | 11.44M | -175K | -1K | -173K | 14.1M | 11.08M | -1.18M | -1.24M | -1.12M | 24.71M | -22.59K | 12.73M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | -51K | -2.19M | 42.2M | 33K | -649K | -85K | 87.33M | 0 | 0 | 0 | 0 | 0 | 195.67M | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | -1.14M | 0 | -42K | -139K | 24K | -24K | -452K | -73K | -16K | 0 | 0 | 0 | 3.62M | 0 | 0 | 0 | -314.52M | 0 | -191.25K |
| Net Change in Cash | 295K | -12.65M | -865K | -1.97M | -2.81M | -24M | -10.1M | 45.9M | -8.63M | -16.51M | -8.06M | 57.13M | -10.08M | -16.9M | -28.54M | -46.8M | -30.13M | 140.74M | -11.86M | -701.66K |
| Free Cash Flow | -27.47M | -25.53M | -15.53M | -16.63M | -33.47M | -57.24M | -22.62M | -10.24M | -20.03M | -15.67M | -7.97M | -30.03M | -24.19M | -31.61M | -21.86M | -45.84M | -28.74M | -68.44M | -6.8M | -22.24M |
| FCF Margin % | -7.11% | -6.63% | -4.5% | -4.67% | -8.97% | -15.44% | -6.25% | -2.7% | -5.16% | -4.52% | -2.77% | -9.13% | -8.01% | -12.24% | -8.8% | -17.01% | -10.51% | -36.94% | -4.36% | -15.38% |
| FCF Growth % | 17.93% | 55.4% | 31.33% | -62.4% | -67.08% | -265.36% | -183.68% | 65.89% | 17.18% | 50.44% | 63.53% | 34.48% | 15.85% | 53.81% | -221.34% | -106.12% | -108.62% | -148.68% | -181.44% | - |
| FCF per Share | -3.26 | -3.55 | -4.75 | -5.09 | -10.27 | -17.60 | -6.87 | -3.63 | -8.49 | -6.79 | -3.58 | -13.97 | -29.08 | -38.02 | -26.29 | -55.12 | -34.56 | -82.30 | -8.43 | -27.55 |
| FCF Conversion (FCF/Net Income) | -22.46x | 0.34x | 0.49x | 0.82x | 1.63x | 0.98x | 0.49x | 0.85x | 1.07x | 0.62x | 0.57x | 2.94x | 2.58x | 0.34x | 1.88x | 0.29x | 2.63x | 0.92x | 0.18x | 0.71x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |