P3 Health Partners Inc. (NASDAQ:PIII) Q3 2023 Earnings Call Transcript

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Sherif Abdou: Thank you, operator. So today, we reaffirm the guidance for EBITDA and medical margin for ’23, as I shared with you before. I shared with you revenues up 16% to 17%; our medical claims expense for the Medicare Advantage lives, 2% better, negative, lower than it was last year; and our medical margin is 300% improved. Our gross profit is $15 million better than it was the same quarter last year. Our OpEx is 18% to 20% improved and lower year-over-year. Our cash burn is down to $8 million for the entire quarter, and our EBITDA losses compared to last year is 53% better. We’ve also shared with you our 2024 preliminary adjusted EBITDA guidance of positive $20 million to positive $40 million for 2024. With that, I thank you all very much and look forward to our next conversation.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.

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