P3 Health Partners IncPIII provided preliminary 2023 sales guidance of $1.20 billion-$1.25 billion, compared to the consensus of $1.30 billion.
The company expects an adjusted EBITDA loss of $(40) million – $(60) million. It anticipates that its adjusted EBITDA will be positive in 2024.
For the full-year 2022, P3 reaffirmed the revenue guidance of $1.025 billion – $1.075 billion, up 61% – 69% Y/Y, against the consensus of $1.04 billion.
These expectations are predicated on 2023 total at-risk members of 115,000-120,000, about a 15% increase above 2022 membership expectations.
Similarly, the management anticipates ending 2022 membership north of 100,000 lives, up 35% Y/Y.
William Blair analyst says P3 Health Partners is a solid healthcare growth stock, and the primary care model is set for material disruption over the coming years.
William Blair writes that this is a strong preliminary outlook for the company, given the recent challenges the company faced in 2022.
P3 Health Partner’s organic growth outlook is one of the strongest in William Blair’s healthcare services coverage universe. It reiterates Outperform rating for the stock.
Price Action: PIII shares closed 4.11% at $1.52 during after-hours trading on Wednesday.
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