P3 Health Partners (PIII) Operating Expenses (2021 - 2026)
P3 Health Partners (PIII) recorded Operating Expenses of $345.16 million in Q2 2026, down 11.5% from $389.91 million a year earlier.
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Analysis
P3 Health Partners (PIII) Operating Expenses (2021 - 2026) Analysis & Trends
On a TTM basis, P3 Health Partners' Operating Expenses came in at $1.66 billion as of Jun 30, 2026, down 6.5% year-over-year; for FY2025, it came in at $1.73 billion, down 5.0% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of 27.2% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $1.82 billion in FY2024 (+27.0%), $1.43 billion in FY2023 (-45.1%), $2.61 billion in FY2022 and $707.66 million in FY2021.
- The Q2 2026 figure is the lowest quarterly Operating Expenses since Q3 2023.
- On a year-over-year basis, Operating Expenses rose in three of the last seven quarters, with growth averaging 5.3%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 592.8% in Q2 2022, against a decline of 70.4% in Q2 2023 at the low end.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 94.29 Bn | 93.74 Bn | - | 17.74 Bn |
| 2 | Natera | 59.14 Bn | 54.82 Bn | 485.19 Mn | 828.54 Mn |
| 3 | Quest Diagnostics | 26.23 Bn | 24.66 Bn | 1.03 Bn | 2.58 Bn |
| 4 | Labcorp Holdings | 25.04 Bn | 22.81 Bn | 1.11 Bn | 582.30 Mn |
| 5 | Guardant Health | 23.69 Bn | 19.76 Bn | 219.03 Mn | 464.10 Mn |
| 6 | Tenet Healthcare | 20.77 Bn | 11.92 Bn | - | - |
| 7 | Tempus AI | 14.91 Bn | 11.94 Bn | 246.50 Mn | 458.40 Mn |
| 8 | Encompass Health | 12.24 Bn | 12.70 Bn | - | 1.31 Bn |
| 9 | Davita | 11.39 Bn | 10.15 Bn | 1.16 Bn | 2.98 Bn |
| 10 | P3 Health Partners | 50.38 Mn | -7.78 Mn | 86.00 Mn | 345.16 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 345.16 Mn |
| Dec 31, 2025 | 538.68 Mn |
| Sep 30, 2025 | 389.48 Mn |
| Jun 30, 2025 | 389.91 Mn |
| Mar 31, 2025 | 411.31 Mn |
| Dec 31, 2024 | 509.19 Mn |
| Sep 30, 2024 | 469.11 Mn |
| Jun 30, 2024 | 410.49 Mn |
| Mar 31, 2024 | 432.32 Mn |
| Dec 31, 2023 | 411.12 Mn |
| Sep 30, 2023 | 322.17 Mn |
| Jun 30, 2023 | 350.12 Mn |
| Mar 31, 2023 | 350.89 Mn |
| Dec 31, 2022 | 794.76 Mn |
| Sep 30, 2022 | 308.27 Mn |
| Jun 30, 2022 | 1.18 Bn |
| Mar 31, 2022 | 325.71 Mn |
| Sep 30, 2021 | 184.31 Mn |
| Jun 30, 2021 | 170.56 Mn |
| Mar 31, 2021 | 164.29 Mn |
API Access
P3 Health Partners Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PIII&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PIII", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PIII&period=max&api_key=YOUR_API_KEY");
const data = await res.json();