P3 Health Partners Inc. (NASDAQ:PIII) Q3 2024 Results Conference Call November 12, 2024 4:30 PM ET

Company Participants

Ryan Halsted - Investor Relations
Aric Coffman - Chief Executive Officer
Leif Pedersen - Chief Financial Officer
Amir Bacchus - Chief Medical Officer

Conference Call Participants

Brooks O’Neil - Lake Street Capital Markets
Josh Raskin - Nephron Research
Jenny Shen - BTIG
Jack Senft - William Blair

Operator

Good day, and welcome to P3 Health Partners Third Quarter 2024 Earnings Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Ryan Halsted. Please go ahead.

Ryan Halsted

Thank you, operator, and thank you for joining us today.

Before we proceed with the call, I would like to remind everyone that certain statements made during this call are forward-looking statements under the U.S. federal securities laws, including statements regarding our financial outlook and long-term targets. These forward-looking statements are only predictions and are based largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from historical experience or present expectations.

Additional information concerning factors that could cause actual results to differ from statements made on this call is contained in our periodic reports filed with the SEC. The forward-looking statements made during this call speak only as of the date hereof, and the company undertakes no obligation to update or revise these forward-looking statements.

We will refer to certain non-GAAP financial measures on this call, including adjusted operating expense, adjusted EBITDA, adjusted EBITDA per member per month, medical margin, medical margin per member per month, medical margin per member per month for persistent lives and cash used. These non-GAAP financial measures are in addition to and not a substitute for or superior to the measures or financial performance prepared in accordance with GAAP.

There are a number of limitations related to the use of these non-GAAP financial measures. For example, other companies may calculate similarly titled non-GAAP financial measures differently. Please refer to the appendix of our earnings release for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures. Information presented on this call is contained in the press release that we issued today and in our SEC filings, which may be accessed from the Investors page of the P3 Health Partners website.