P3 Health Partners Inc. (PIII) Revenue History
Annual and quarterly revenue from 2019 to 2024
Compound Annual Growth Rate (CAGR)
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PIII Revenue Growth
Revenue Breakdown (FY 2024)
PIII's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
PIII Revenue Analysis (2019–2024)
As of May 8, 2026, P3 Health Partners Inc. (PIII) generated trailing twelve-month (TTM) revenue of $1.44 billion, reflecting slight decline in growth of -4.7% year-over-year. The most recent quarter (Q3 2025) recorded $345.3 million in revenue, down 3.0% sequentially.
Looking at the longer-term picture, PIII's 5-year compound annual growth rate (CAGR) stands at +59.5%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $1.50 billion in 2024, representing a new all-time high.
Revenue diversification analysis shows PIII's business is primarily driven by Capitated Revenue (99%), and Health Care, Patient Service (1%). With over half of revenue concentrated in Capitated Revenue, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including AGIO (+78.3% YoY), ALHC (+41.8% YoY), and OSCR (+31.9% YoY), PIII has underperformed the peer group in terms of revenue growth. Compare PIII vs AGIO →
PIII Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PIIICurrent | $1.4B | -4.7% | +59.5% | -21.4% | |
 AGIO | $54M | +78.3% | - | -873.9% | |
 ALHC | $3.9B | +41.8% | +32.7% | 0.4% | |
 OSCR | $11.7B | +31.9% | +81.8% | -3.4% | |
 CNC | $194.8B | +17.0% | +11.9% | -3.9% | |
 MOH | $45.4B | +7.7% | +18.5% | 1.7% |
PIII Historical Revenue Data (2019–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $1.50B | +18.5% | $1.50B | 100.0% | $-320,658,000 | -21.4% |
| 2023 | $1.27B | +20.7% | $1.27B | 100.0% | $-167,930,000 | -13.3% |
| 2022 | $1.05B | +64.7% | $1.05B | 100.0% | $-1,560,913,000 | -148.7% |
| 2021 | $637.4M | +29.8% | $-30,701,193 | -4.8% | $-187,945,258 | -29.5% |
| 2020 | $491.1M | +237.5% | $491.1M | 100.0% | $-28,587,678 | -5.8% |
| 2019 | $145.5M | - | $145.5M | 100.0% | $-39,535,671 | -27.2% |
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Start ComparisonPIII — Frequently Asked Questions
Quick answers to the most common questions about buying PIII stock.
Is PIII's revenue growth accelerating or slowing?
PIII revenue growth slowed to -4.7%, below the 5-year CAGR of +59.5%. TTM revenue is $1.4B. The deceleration marks a shift from historical growth rates.
What is PIII's long-term revenue growth rate?
P3 Health Partners Inc.'s 5-year revenue CAGR of +59.5% reflects the variable expansion pattern. Current YoY growth of -4.7% is near this long-term average.
How is PIII's revenue distributed by segment?
PIII reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2024 are available for download. Segment mix reveals concentration and diversification trends.