• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Modivcare Reports First Quarter 2025 Financial Results

    5/8/25 4:53:00 PM ET
    $MODV
    Transportation Services
    Consumer Discretionary
    Get the next $MODV alert in real time by email

    Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three months ended March 31, 2025.

    "In Q1, we continued to advance our strategic objectives and operational initiatives," said L. Heath Sampson, President and CEO. "Company-wide alignment on key initiatives—securing new contracts, laying the groundwork for scalable automation, reducing G&A, strengthening our working-capital discipline, and progressing toward divestiture readiness—positions us to deliver enhanced performance and long-term value. We are making steady progress that reflects the team's focus on these priorities. We look forward to maintaining this positive momentum and building a stronger, more connected Modivcare."

    First Quarter 2025 Summary:

    • Service revenue of $650.7 million, down 4.9% year-over-year
    • Net loss of $50.4 million, or negative $3.52 per diluted common share; adjusted net loss(1) of $24.5 million and adjusted loss per share(1) of $1.71 per diluted common share
    • Adjusted EBITDA(1) of $32.6 million, representing 5.0% of service revenue
    • $105.0 million in new financing executed in Q1 to support ongoing transformation efforts
    • Targeted cost reduction actions expected to generate greater than $20.0 million in annualized G&A savings

    First Quarter 2025 Results

    Revenue was $650.7 million, compared to $684.5 million in the prior-year period, primarily reflecting contract attrition in the NEMT segment and lower volumes in PCS and Monitoring. Net loss and Adjusted EBITDA(1) were $50.4 million and $32.6 million, compared to $22.3 million and $32.1 million in Q1 2024, respectively.

    By segment:

    • NEMT revenue was $449.0 million, down 6.3% year-over-year, a 3.9% net income margin and a 6.2% Adjusted EBITDA margin(1) — up 50 basis points.
    • PCS revenue was $181.8 million, down 1.0%, with net income of $2.4 million and an Adjusted EBITDA(1) of $12.2 million — up 8.5% year-over-year.
    • Monitoring revenue was $18.1 million, down 9.8%, a 6.0% net loss margin and a 28.8% Adjusted EBITDA margin(1).

    Net contract receivables increased to $108.5 million, up from $95.2 million last quarter, primarily due to higher utilization on shared risk contracts. Modivcare ended the quarter with $116.0 million in cash and remained fully drawn on its revolver. Operating cash flow was a use of $82.1 million and Free cash flow(2) was negative $86.2 million, reflecting working capital build and higher interest expense. The Company has taken targeted actions to accelerate collections and improve working capital efficiency.

     

     

    (1) Non-GAAP financial measure reconciliations and other related information about non-GAAP financial measures provided below.

    (2) Free cash flow, a non-GAAP financial measure, is calculated by us as cash flow from operations less our capital expenditures during the period of $4.1 million that is included in our purchase of property and equipment line in our Unaudited Condensed Consolidated Statements of Cash Flows provided below.

    Conference Call Information

    Modivcare will host a conference call today, May 8, 2025, at 5:00 p.m. ET to discuss its financial results. Participants may access the call via:

    • U.S. Toll-Free: 1 (877) 407-8037
    • International: 1 (201) 689-8037
    • Webcast: investors.modivcare.com

    A replay will be available on the Company's investor relations website following the conclusion of the call.

    About Modivcare

    Modivcare Inc. ("Modivcare" or the "Company") is a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions for public and private payors and their members. Modivcare's value-based solutions address the social determinants of health (SDoH) by connecting members to essential care services. By doing so, Modivcare helps health plans manage risks, reduce costs, and improve health outcomes. Modivcare serves as a provider of non-emergency medical transportation (NEMT), personal care services (PCS), and in-home monitoring solutions (Monitoring). To learn more about Modivcare, please visit www.modivcare.com.

    Non-GAAP Financial Measures and Adjustments

    In addition to the financial measures prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"), the information contained herein may include presentations for the Company and its segments (as noted and applicable) of: (1) EBITDA, Adjusted EBITDA, Adjusted G&A expense, Adjusted EBITDA margin, Adjusted Net Income (Loss), and Adjusted Earnings (Loss) Per Share, all of which are non-GAAP financial measures considered by management to be performance measures; and (2) free cash flow, which is a non-GAAP financial measure considered by management to be a liquidity measure. EBITDA is defined as net income (loss) before: (1) interest expense, net; (2) provision (benefit) for income taxes; and (3) depreciation and amortization. Adjusted EBITDA is calculated as EBITDA before (as applicable): (1) restructuring and related costs; (2) transaction and integration costs; (3) settlement related costs; (4) stock-based compensation; and (5) equity in net (income) loss of investee, net of tax. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by service revenue, net. Adjusted Net Income (Loss) is calculated as net income (loss) before (as applicable): (1) restructuring and related costs; (2) transaction and integration costs; (3) settlement related costs; (4) stock-based compensation; (5) equity in net (income) loss of investee, net of tax; (6) intangible asset amortization expense; and (7) the income tax impact of such adjustments. Adjusted Earnings (Loss) Per Share is calculated as Adjusted Net Income (Loss) divided by the diluted weighted-average number of common shares outstanding as calculated for Adjusted Net Income (Loss). Adjusted G&A expense is calculated as G&A expense before (as applicable): (1) restructuring and related costs; (2) transaction and integration costs; (3) settlement related costs; and (4) stock-based compensation. Free cash flow is calculated as cash flow from operations less our applicable capital expenditures included in our purchase of property and equipment line in our Consolidated Statements of Cash Flows.

    Reconciliations of the non-GAAP financial measures used herein to their most directly comparable GAAP financial measures that are not included in the discussion above are included below. Our non-GAAP performance measures exclude expenses and amounts that are not driven by our core operating results and may be one time in nature. Excluding these expenses makes comparisons with prior periods as well as to other companies in our industry more meaningful. We believe such measures allow investors to gain a better understanding of the factors and trends affecting the ongoing operations of our business. We consider our core operations to be the ongoing activities to provide services from which we earn revenue, including direct operating costs and indirect costs to support these activities. As a result, our net income or loss in equity investee is excluded from these measures, as we do not have the ability to manage the venture, allocate resources within the venture, or directly control its operations or performance. Our free cash flow presentation (as applicable) reflects an additional way of viewing our liquidity that, when viewed together with our GAAP results, provides management, investors, and other users of our financial information with a more complete understanding of factors and trends affecting our cash flows. Our use of the term free cash flow is not intended to imply, and no inference should be made, however, that any reported amounts are free to be used without restriction for discretionary expenditures, as our use of these funds may be restricted by the terms of our outstanding indebtedness, including our credit facility, and otherwise earmarked for other non-discretionary expenditures.

    Our non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial measures differently. In addition, there are limitations in using non-GAAP financial measures because they are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies, and exclude expenses that may have a material impact on our reported financial results. The presentation of non-GAAP financial measures is not intended to be considered in isolation from or as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. We urge you to review the reconciliations of our non-GAAP financial measures to their most directly comparable GAAP financial measures included below, and not to rely on any single financial measure to evaluate our business.

    Forward-Looking Statements

    Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are predictive in nature and are frequently identified by the use of terms such as "may," "will," "should," "expect," "believe," "estimate," "intend," and similar words indicating possible future expectations, events or actions. The updated guidance discussed herein constitutes forward-looking statements. Such forward-looking statements are based on current expectations, assumptions, estimates and projections about our business and our industry, and are not guarantees of our future performance. These statements are subject to a number of known and unknown risks, uncertainties and other factors, many of which are beyond our ability to control or predict, which may cause actual results to be materially different from those expressed or implied herein, including but not limited to: government or private insurance program funding reductions or limitations; implementation of alternative payment models or the transition of Medicaid and Medicare beneficiaries to Managed Care Organizations; our inability to control reimbursement rates received for our services; cost containment initiatives undertaken by private third-party payors and an inability to maintain or reduce our cost of services below rates set forth by our payors; the effects of a public health emergency; inadequacies in, or security breaches of, our information technology systems; changes in the funding, financial viability or our relationships with our payors; pandemics and other infectious diseases; delays in collection, or non-collection, of our accounts receivable; any impairment of our goodwill and long-lived assets; any failure to maintain or to develop reliable, efficient and secure information technology systems; any inability to attract and retain qualified employees; any disruptions from acquisition or acquisition integration efforts; estimated income taxes being different from income taxes that we ultimately pay; weakening of general economic conditions, including the impact of inflationary pressures, rising interest rates, labor shortages, higher labor costs and supply chain challenges; any failure to successfully implement our business plan, including planned strategic divestitures of certain assets; historical operating losses and negative cash flow and any failure to improve our financial condition; significant turnover of our senior management team and across our organization; ongoing negotiations related to new capital investments may require a substantial portion of time from our management; our contracts not surviving until the end of their stated terms, or not being renewed or extended; our failure to compete effectively in the marketplace; our not being awarded contracts through the government's requests for proposals process, or our awarded contracts not being profitable; any failure to satisfy our contractual obligations or to maintain existing pledged performance and payment bonds; any failure to estimate accurately the cost of performing our contracts; the extended collection periods and uncertainty concerning the timing of the collection of outstanding contract receivables; any misclassification of the drivers we engage as independent contractors rather than as employees; significant interruptions in our communication and data services; not successfully executing on our strategies in the face of our competition; any inability to maintain relationships with existing patient referral sources; certificates of need laws or other regulatory and licensure obligations that may adversely affect our personal care integration efforts and expansion into new markets; any failure to obtain the consent of the New York Department of Health to manage the day to day operations of our licensed in-home personal care services agency business; changes in the case-mix of our personal care patients, or changes in payor mix or payment methodologies; our loss of existing favorable managed care contracts; our experiencing labor shortages in qualified employees and management; labor disputes or disruptions, in particular in New York; becoming subject to malpractice, professional negligence or other similar claims; our operating in the competitive in-home patient monitoring industry, and failing to develop and enhance related technology applications; any failure to innovate and provide services that are useful to customers and to achieve and maintain market acceptance; our lack of sole decision-making authority with respect to our minority investment in Matrix and any failure by Matrix to achieve positive financial position and results of operations; any legal challenges to the relationships or arrangements between our virtual clinical care management services and the unaffiliated physician-owned professional corporation through which such services are provided; any failure to comply with applicable data interoperability and information blocking rules; the lapse of temporary telehealth flexibilities currently permitted under the Consolidated Appropriations Act of 2023; the cost of our compliance with laws; changes to the regulatory landscape applicable to our businesses; changes in budgetary priorities of the government entities or private insurance programs that fund our services; regulations relating to privacy and security of patient and service user information; actions for false claims or recoupment of funds; civil penalties or loss of business for failing to comply with bribery, corruption and other regulations governing business with public organizations; increasing scrutiny and changing expectations with respect to environmental, social and governance matters; changes to, or violations of, licensing regulations; our contracts being subject to audit and modification by the payors with whom we contract; a loss of Medicaid coverage by Medicaid beneficiaries as a result of any state Medicaid eligibility determination processes; our existing debt agreements containing restrictions, financial covenants and cross-default provisions that limit our flexibility in operating our business; our substantial indebtedness and ability to generate sufficient cash to service our indebtedness; the expiration of our existing credit agreement or any loss of available financing alternatives; our ability to incur substantial additional indebtedness or to issue additional equity; our substantial doubt about our ability to meet our obligations as they come due within one year from the date of issuance of the financial statements for fiscal year 2024; any failure to successfully remediate any control deficiency or material weakness in our internal control over financial reporting; our dependence on our subsidiaries to fund our operations and expenses; anti-takeover provisions discouraging a change of control; and any stock price volatility.

    The Company has provided additional information about the foregoing and other risks facing our business in our annual report on Form 10-K and subsequent periodic and current reports filed with the Securities and Exchange Commission that could impact future performance. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made and are expressly qualified in their entirety by the cautionary statements set forth herein and in our filings with the Securities and Exchange Commission, which you should read in their entirety before making an investment decision with respect to our securities. We undertake no obligation to update or revise any forward-looking statements contained in this release, whether as a result of new information, future events or otherwise, except as required by applicable law.

    Modivcare Inc.

    Unaudited Condensed Consolidated Statements of Operations

    (in thousands, except share and per share data)

     

     

     

     

     

    Three months ended March 31,

     

     

    2025

     

     

     

    2024

     

     

     

     

     

    Service revenue, net

    $

    650,654

     

     

    $

    684,451

     

     

     

     

     

    Operating expenses:

     

     

     

    Service expense

     

    552,988

     

     

     

    583,566

     

    General and administrative expense

     

    78,589

     

     

     

    77,177

     

    Depreciation and amortization

     

    23,519

     

     

     

    27,103

     

    Total operating expenses

     

    655,096

     

     

     

    687,846

     

     

     

     

     

    Operating income (loss)

     

    (4,442

    )

     

     

    (3,395

    )

     

     

     

     

    Interest expense, net

     

    38,837

     

     

     

    18,686

     

    Loss before income taxes and equity method investment

     

    (43,279

    )

     

     

    (22,081

    )

    Income tax benefit (provision)

     

    (3,547

    )

     

     

    543

     

    Equity in net income (loss) of investee, net of tax

     

    (3,551

    )

     

     

    (762

    )

    Net loss

    $

    (50,377

    )

     

    $

    (22,300

    )

     

     

     

     

    Loss per common share:

     

     

     

    Basic

    $

    (3.52

    )

     

    $

    (1.57

    )

    Diluted

    $

    (3.52

    )

     

    $

    (1.57

    )

     

     

     

     

    Weighted-average number of common shares outstanding:

     

     

    Basic

     

    14,328,736

     

     

     

    14,202,000

     

    Diluted

     

    14,328,736

     

     

     

    14,202,000

     

    Modivcare Inc.

    Unaudited Condensed Consolidated Balance Sheets

    (in thousands)

     

     

     

     

     

    March 31, 2025

     

    December 31, 2024

    Assets

     

     

     

    Current assets:

     

     

     

    Cash and cash equivalents

    $

    115,963

     

     

    $

    112,581

     

    Accounts receivable, net

     

    239,545

     

     

     

    222,317

     

    Contract receivables

     

    124,359

     

     

     

    117,795

     

    Other current assets(1)

     

    53,562

     

     

     

    42,686

     

    Total current assets

     

    533,429

     

     

     

    495,379

     

    Property and equipment, net

     

    79,038

     

     

     

    82,409

     

    Long-term contract receivables

     

    10,989

     

     

     

    —

     

    Goodwill

     

    680,252

     

     

     

    680,252

     

    Intangible assets, net

     

    266,232

     

     

     

    282,320

     

    Equity investment

     

    27,899

     

     

     

    31,427

     

    Operating lease right-of-use assets

     

    33,390

     

     

     

    36,597

     

    Other long-term assets

     

    45,934

     

     

     

    45,948

     

    Total assets

    $

    1,677,163

     

     

    $

    1,654,332

     

     

     

     

     

    Liabilities and stockholders' equity (deficit)

     

     

     

    Current liabilities:

     

     

     

    Accounts payable

    $

    57,659

     

     

    $

    83,068

     

    Accrued contract payables

     

    26,854

     

     

     

    22,639

     

    Accrued expenses and other current liabilities

     

    153,452

     

     

     

    139,176

     

    Accrued transportation costs

     

    76,855

     

     

     

    96,745

     

    Current portion of operating lease liabilities

     

    8,281

     

     

     

    8,616

     

    Revolving credit facility

     

    270,661

     

     

     

    269,000

     

    Short-term debt

     

    73,889

     

     

     

    5,250

     

    Total current liabilities

     

    667,651

     

     

     

    624,494

     

    Long-term debt, net of deferred financing costs

     

    1,016,889

     

     

     

    986,436

     

    Operating lease liabilities, less current portion

     

    31,053

     

     

     

    32,905

     

    Other long-term liabilities(2)

     

    49,203

     

     

     

    48,971

     

    Total liabilities

     

    1,764,796

     

     

     

    1,692,806

     

     

     

     

     

    Stockholders' equity (deficit)

     

     

     

    Stockholders' equity (deficit)

     

    (87,633

    )

     

     

    (38,474

    )

    Total liabilities and stockholders' equity (deficit)

    $

    1,677,163

     

     

    $

    1,654,332

     

    (1)

    Includes other receivables, prepaid expenses and other current assets and short-term restricted cash.

    (2)

    Includes other long-term liabilities and deferred tax liabilities.

    Modivcare Inc.

    Unaudited Condensed Consolidated Statements of Cash Flows

    (in thousands)

     

     

     

     

     

    Three months ended March 31,

     

     

    2025

     

     

     

    2024

     

    Operating activities

     

     

     

    Net loss

    $

    (50,377

    )

     

    $

    (22,300

    )

    Depreciation and amortization

     

    23,519

     

     

     

    27,103

     

    Stock-based compensation

     

    1,244

     

     

     

    2,010

     

    Equity in net loss of investee

     

    3,295

     

     

     

    1,056

     

    Deferred income taxes

     

    (85

    )

     

     

    (3,778

    )

    Reduction of right-of-use asset

     

    3,385

     

     

     

    2,947

     

    Other non-cash items(1)

     

    5,288

     

     

     

    1,407

     

    Changes in operating assets and liabilities:

     

     

     

    Contract receivables

     

    (6,563

    )

     

     

    9,280

     

    Contract payables

     

    4,215

     

     

     

    10,910

     

    Long-term contract receivables

     

    (10,989

    )

     

     

    (19,598

    )

    Other changes in operating assets and liabilities(2)

     

    (55,023

    )

     

     

    523

     

    Net cash provided by (used in) operating activities

     

    (82,091

    )

     

     

    9,560

     

     

     

     

     

    Investing activities

     

     

     

    Purchase of property and equipment

     

    (4,061

    )

     

     

    (7,856

    )

    Net cash used in investing activities

     

    (4,061

    )

     

     

    (7,856

    )

     

     

     

     

    Financing activities

     

     

     

    Net proceeds from short-term debt

     

    —

     

     

     

    7,200

     

    Issuance of long-term debt

     

    30,000

     

     

     

    —

     

    Issuance of short-term debt

     

    75,000

     

     

     

    —

     

    Repayment of long-term debt

     

    (1,313

    )

     

     

    —

     

    Payments of debt issuance costs

     

    (10,711

    )

     

     

    (756

    )

    Other financing activities

     

    (26

    )

     

     

    (64

    )

    Net cash provided by financing activities

     

    92,950

     

     

     

    6,380

     

     

     

     

     

    Net change in cash, cash equivalents and restricted cash

     

    6,798

     

     

     

    8,084

     

    Cash, cash equivalents and restricted cash at beginning of period

     

    113,116

     

     

     

    2,782

     

    Cash, cash equivalents and restricted cash at end of period

    $

    119,914

     

     

    $

    10,866

     

    (1)

    Includes amortization of deferred financing costs and debt discount.

    (2)

    Includes accounts receivable and other receivables, prepaid expenses and other current assets, accounts payable and accrued expenses, accrued transportation costs and other changes in operating assets and liabilities.

    Modivcare Inc.

    Unaudited Reconciliation of Non-GAAP Financial Measures

    Segment Information and Adjusted EBITDA

    (in thousands)

     

     

    Three months ended March 31, 2025

     

    NEMT

     

    PCS

     

    Monitoring

     

    Corporate and Other

     

    Total

     

     

     

     

     

     

     

     

     

     

    Service revenue, net

    $

    449,007

     

     

    $

    181,787

     

     

    $

    18,125

     

     

    $

    1,735

     

     

    $

    650,654

     

     

     

     

     

     

     

     

     

     

     

    Operating expenses:

     

     

     

     

     

     

     

     

     

    Service expense

     

    396,014

     

     

     

    147,518

     

     

     

    7,673

     

     

     

    1,783

     

     

     

    552,988

     

    General and administrative expense

     

    27,784

     

     

     

    22,584

     

     

     

    5,408

     

     

     

    22,813

     

     

     

    78,589

     

    Depreciation and amortization

     

    7,556

     

     

     

    9,434

     

     

     

    6,050

     

     

     

    479

     

     

     

    23,519

     

    Total operating expenses

     

    431,354

     

     

     

    179,536

     

     

     

    19,131

     

     

     

    25,075

     

     

     

    655,096

     

     

     

     

     

     

     

     

     

     

     

    Operating income (loss)

     

    17,653

     

     

     

    2,251

     

     

     

    (1,006

    )

     

     

    (23,340

    )

     

     

    (4,442

    )

     

     

     

     

     

     

     

     

     

     

    Interest expense, net

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    38,837

     

     

     

    38,837

     

    Income (loss) before income taxes and equity method investment

     

    17,653

     

     

     

    2,251

     

     

     

    (1,006

    )

     

     

    (62,177

    )

     

     

    (43,279

    )

    Income tax benefit (provision)

     

    1,117

     

     

     

    173

     

     

     

    (77

    )

     

     

    (4,760

    )

     

     

    (3,547

    )

    Equity in net income (loss) of investee, net of tax

     

    (1,063

    )

     

     

    —

     

     

     

    —

     

     

     

    (2,488

    )

     

     

    (3,551

    )

    Net income (loss)

     

    17,707

     

     

     

    2,424

     

     

     

    (1,083

    )

     

     

    (69,425

    )

     

     

    (50,377

    )

     

     

     

     

     

     

     

     

     

     

    Interest expense, net

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    38,837

     

     

     

    38,837

     

    Income tax provision (benefit)

     

    (1,117

    )

     

     

    (173

    )

     

     

    77

     

     

     

    4,760

     

     

     

    3,547

     

    Depreciation and amortization

     

    7,556

     

     

     

    9,434

     

     

     

    6,050

     

     

     

    479

     

     

     

    23,519

     

    EBITDA

     

    24,146

     

     

     

    11,685

     

     

     

    5,044

     

     

     

    (25,349

    )

     

     

    15,526

     

     

     

     

     

     

     

     

     

     

     

    Restructuring and related costs(1)

     

    2,331

     

     

     

    409

     

     

     

    168

     

     

     

    6,547

     

     

     

    9,455

     

    Transaction and integration costs

     

    264

     

     

     

    —

     

     

     

    —

     

     

     

    521

     

     

     

    785

     

    Settlement related costs

     

    —

     

     

     

    134

     

     

     

    —

     

     

     

    1,971

     

     

     

    2,105

     

    Stock-based compensation

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    1,174

     

     

     

    1,174

     

    Equity in net (income) loss of investee, net of tax

     

    1,063

     

     

     

    —

     

     

     

    —

     

     

     

    2,488

     

     

     

    3,551

     

     

     

     

     

     

     

     

     

     

     

    Adjusted EBITDA

    $

    27,804

     

     

    $

    12,228

     

     

    $

    5,212

     

     

    $

    (12,648

    )

     

    $

    32,596

     

    (1)

    Restructuring and related costs include professional fees for strategic initiatives, organizational consolidation costs and severance, as well as professional services fees and legal fees related to various debt transactions during the period.

    Modivcare Inc.

    Unaudited Reconciliation of Non-GAAP Financial Measures

    Segment Information and Adjusted EBITDA

    (in thousands)

     

     

    Three months ended March 31, 2024

     

    NEMT

     

    PCS

     

    Monitoring

     

    Corporate and Other

     

    Total

     

     

     

     

     

     

     

     

     

     

    Service revenue, net

    $

    479,306

     

     

    $

    183,568

     

     

    $

    20,102

     

     

    $

    1,475

     

     

    $

    684,451

     

     

     

     

     

     

     

     

     

     

     

    Operating expenses:

     

     

     

     

     

     

     

     

     

    Service expense

     

    423,657

     

     

     

    149,438

     

     

     

    8,363

     

     

     

    2,108

     

     

     

    583,566

     

    General and administrative expense

     

    31,820

     

     

     

    24,432

     

     

     

    5,440

     

     

     

    15,485

     

     

     

    77,177

     

    Depreciation and amortization

     

    7,359

     

     

     

    12,795

     

     

     

    6,674

     

     

     

    275

     

     

     

    27,103

     

    Total operating expenses

     

    462,836

     

     

     

    186,665

     

     

     

    20,477

     

     

     

    17,868

     

     

     

    687,846

     

     

     

     

     

     

     

     

     

     

     

    Operating income (loss)

     

    16,470

     

     

     

    (3,097

    )

     

     

    (375

    )

     

     

    (16,393

    )

     

     

    (3,395

    )

     

     

     

     

     

     

     

     

     

     

    Interest expense, net

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    18,686

     

     

     

    18,686

     

    Income (loss) before income taxes and equity method investment

     

    16,470

     

     

     

    (3,097

    )

     

     

    (375

    )

     

     

    (35,079

    )

     

     

    (22,081

    )

    Income tax benefit (provision)

     

    (4,274

    )

     

     

    823

     

     

     

    67

     

     

     

    3,927

     

     

     

    543

     

    Equity in net income (loss) of investee, net of tax

     

    (28

    )

     

     

    —

     

     

     

    —

     

     

     

    (734

    )

     

     

    (762

    )

    Net income (loss)

     

    12,168

     

     

     

    (2,274

    )

     

     

    (308

    )

     

     

    (31,886

    )

     

     

    (22,300

    )

     

     

     

     

     

     

     

     

     

     

    Interest expense, net

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    18,686

     

     

     

    18,686

     

    Income tax provision (benefit)

     

    4,274

     

     

     

    (823

    )

     

     

    (67

    )

     

     

    (3,927

    )

     

     

    (543

    )

    Depreciation and amortization

     

    7,359

     

     

     

    12,795

     

     

     

    6,674

     

     

     

    275

     

     

     

    27,103

     

    EBITDA

     

    23,801

     

     

     

    9,698

     

     

     

    6,299

     

     

     

    (16,852

    )

     

     

    22,946

     

     

     

     

     

     

     

     

     

     

     

    Restructuring and related costs(1)

     

    3,239

     

     

     

    127

     

     

     

    10

     

     

     

    1,729

     

     

     

    5,105

     

    Transaction and integration costs

     

    52

     

     

     

    1,446

     

     

     

    —

     

     

     

    45

     

     

     

    1,543

     

    Stock-based compensation

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    1,781

     

     

     

    1,781

     

    Equity in net (income) loss of investee, net of tax

     

    28

     

     

     

    —

     

     

     

    —

     

     

     

    734

     

     

     

    762

     

     

     

     

     

     

     

     

     

     

     

    Adjusted EBITDA

    $

    27,120

     

     

    $

    11,271

     

     

    $

    6,309

     

     

    $

    (12,563

    )

     

    $

    32,137

     

    (1)

    Restructuring and related costs include professional fees for strategic initiatives, organizational consolidation costs, severance and other professional fees.

    Modivcare Inc.

    Unaudited Reconciliation of Non-GAAP Financial Measures

    Adjusted Net Loss and Adjusted Net Loss per Common Share

    (in thousands, except share and per share data)

     

     

    Three months ended March 31,

     

     

    2025

     

     

     

    2024

     

     

     

     

     

    Net loss

    $

    (50,377

    )

     

    $

    (22,300

    )

     

     

     

     

    Restructuring and related costs(1)

     

    9,455

     

     

     

    5,105

     

    Transaction and integration costs

     

    785

     

     

     

    1,543

     

    Settlement related costs

     

    2,105

     

     

     

    —

     

    Stock-based compensation

     

    1,174

     

     

     

    1,781

     

    Equity in net loss of investee, net of tax

     

    3,551

     

     

     

    762

     

    Intangible asset amortization expense

     

    16,087

     

     

     

    19,779

     

    Tax effected impact of adjustments

     

    (7,271

    )

     

     

    (7,881

    )

     

     

     

     

    Adjusted net loss

    $

    (24,491

    )

     

    $

    (1,211

    )

     

     

     

     

    Adjusted loss per share

    $

    (1.71

    )

     

    $

    (0.09

    )

     

     

     

     

    Diluted weighted-average number of common shares outstanding

     

    14,328,736

     

     

     

    14,202,000

     

    (1)

    Restructuring and related costs include professional fees for strategic initiatives, organizational consolidation costs, severance and other professional fees.

    Modivcare Inc.

    Unaudited Key Statistical and Financial Data

    (in thousands, except for statistical data)

     

     

    Three months ended

     

     

     

    Three months ended

     

     

     

    March 31, 2025

     

    March 31, 2024

     

    % Change

     

    December 31, 2024

     

    QoQ % Change

     

     

     

     

     

     

     

     

     

     

    NEMT Segment

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Service revenue, net

    $

    449,007

     

     

    $

    479,306

     

     

    (6.3

    )%

     

    $

    495,039

     

     

    (9.3

    )%

    Purchased services expense

     

    344,118

     

     

     

    362,900

     

     

    (5.2

    )%

     

     

    385,722

     

     

    (10.8

    )%

    Payroll and other expense

     

    51,896

     

     

     

    60,757

     

     

    (14.6

    )%

     

     

    54,100

     

     

    (4.1

    )%

    Service expense

    $

    396,014

     

     

    $

    423,657

     

     

    (6.5

    )%

     

    $

    439,822

     

     

    (10.0

    )%

     

     

     

     

     

     

     

     

     

     

    Gross profit

    $

    52,993

     

     

    $

    55,649

     

     

    (4.8

    )%

     

    $

    55,217

     

     

    (4.0

    )%

    Gross margin

     

    11.8

    %

     

     

    11.6

    %

     

     

     

     

    11.2

    %

     

     

     

     

     

     

     

     

     

     

     

     

    G&A expense

    $

    27,784

     

     

    $

    31,820

     

     

    (12.7

    )%

     

    $

    28,774

     

     

    (3.4

    )%

    G&A expense adjustments:

     

     

     

     

     

     

     

     

     

    Restructuring and related costs

     

    2,331

     

     

     

    3,239

     

     

    (28.0

    )%

     

     

    781

     

     

    198.5

    %

    Transaction and integration costs

     

    264

     

     

     

    52

     

     

    407.7

    %

     

     

    337

     

     

    (21.7

    )%

    Adjusted G&A expense

    $

    25,189

     

     

    $

    28,529

     

     

    (11.7

    )%

     

    $

    27,656

     

     

    (8.9

    )%

    Adjusted G&A expense % of revenue

     

    5.6

    %

     

     

    6.0

    %

     

     

     

     

    5.6

    %

     

     

     

     

     

     

     

     

     

     

     

     

    Net income

    $

    17,707

     

     

    $

    12,168

     

     

    45.5

    %

     

    $

    18,320

     

     

    (3.3

    )%

    Net income margin

     

    3.9

    %

     

     

    2.5

    %

     

     

     

     

    3.7

    %

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted EBITDA

    $

    27,804

     

     

    $

    27,120

     

     

    2.5

    %

     

    $

    27,561

     

     

    0.9

    %

    Adjusted EBITDA margin

     

    6.2

    %

     

     

    5.7

    %

     

     

     

     

    5.6

    %

     

     

     

     

     

     

     

     

     

     

     

     

    Total paid trips (thousands)

     

    8,458

     

     

     

    8,808

     

     

    (4.0

    )%

     

     

    9,543

     

     

    (11.4

    )%

    Average monthly members (thousands)

     

    23,554

     

     

     

    29,071

     

     

    (19.0

    )%

     

     

    29,382

     

     

    (19.8

    )%

     

     

     

     

     

     

     

     

     

     

    Revenue per member per month

    $

    6.35

     

     

    $

    5.50

     

     

    15.5

    %

     

    $

    5.62

     

     

    13.0

    %

    Revenue per trip

    $

    53.09

     

     

    $

    54.42

     

     

    (2.4

    )%

     

    $

    51.87

     

     

    2.4

    %

    Monthly utilization

     

    12.0

    %

     

     

    10.1

    %

     

     

     

     

    10.8

    %

     

     

     

     

     

     

     

     

     

     

     

     

    Purchased services per trip

    $

    40.69

     

     

    $

    41.20

     

     

    (1.2

    )%

     

    $

    40.42

     

     

    0.7

    %

    Payroll and other per trip

    $

    6.14

     

     

    $

    6.90

     

     

    (11.0

    )%

     

    $

    5.67

     

     

    8.3

    %

    Total service expense per trip

    $

    46.83

     

     

    $

    48.10

     

     

    (2.6

    )%

     

    $

    46.09

     

     

    1.6

    %

    N/M - Not Meaningful. Certain figures in the tables above do not provide meaningful percentage comparison, thus, the percentage has been removed.

    Modivcare Inc.

    Unaudited Key Statistical and Financial Data

    (in thousands, except for statistical data)

     

     

    Three months ended

     

     

     

    Three months ended

     

     

     

    March 31, 2025

     

    March 31, 2024

     

    % Change

     

    December 31, 2024

     

    QoQ % Change

     

     

     

     

     

     

     

     

     

     

    PCS Segment

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Service revenue, net

    $

    181,787

     

     

    $

    183,568

     

     

    (1.0

    )%

     

    $

    186,603

     

     

    (2.6

    )%

    Service expense

     

    147,518

     

     

     

    149,438

     

     

    (1.3

    )%

     

     

    148,209

     

     

    (0.5

    )%

    Gross profit

    $

    34,269

     

     

    $

    34,130

     

     

    0.4

    %

     

    $

    38,394

     

     

    (10.7

    )%

    Gross margin

     

    18.9

    %

     

     

    18.6

    %

     

     

     

     

    20.6

    %

     

     

     

     

     

     

     

     

     

     

     

     

    G&A expense

    $

    22,584

     

     

    $

    24,432

     

     

    (7.6

    )%

     

    $

    20,586

     

     

    9.7

    %

    G&A expense adjustments

     

     

     

     

     

     

     

     

     

    Restructuring and related costs

     

    409

     

     

     

    127

     

     

    222.0

    %

     

     

    268

     

     

    52.6

    %

    Transaction and integration costs

     

    —

     

     

     

    1,446

     

     

    (100.0

    )%

     

     

    (582

    )

     

    (100.0

    )%

    Settlement related costs

     

    134

     

     

     

    —

     

     

    N/M

     

     

     

    —

     

     

    N/M

     

    Adjusted G&A expense

    $

    22,041

     

     

    $

    22,859

     

     

    (3.6

    )%

     

    $

    20,900

     

     

    5.5

    %

    Adjusted G&A expense % of revenue

     

    12.1

    %

     

     

    12.5

    %

     

     

     

     

    11.2

    %

     

     

     

     

     

     

     

     

     

     

     

     

    Net income (loss)

    $

    2,424

     

     

    $

    (2,274

    )

     

    N/M

     

     

    $

    5,062

     

     

    (52.1

    )%

    Net income (loss) margin

     

    1.3

    %

     

     

    (1.2

    )%

     

     

     

     

    2.7

    %

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted EBITDA

    $

    12,228

     

     

    $

    11,271

     

     

    8.5

    %

     

    $

    17,494

     

     

    (30.1

    )%

    Adjusted EBITDA margin

     

    6.7

    %

     

     

    6.1

    %

     

     

     

     

    9.4

    %

     

     

     

     

     

     

     

     

     

     

     

     

    Total hours (thousands)

     

    6,818

     

     

     

    6,965

     

     

    (2.1

    )%

     

     

    7,042

     

     

    (3.2

    )%

    Revenue per hour

    $

    26.66

     

     

    $

    26.36

     

     

    1.1

    %

     

    $

    26.50

     

     

    0.6

    %

    Service expense per hour

    $

    21.64

     

     

    $

    21.46

     

     

    0.8

    %

     

    $

    21.05

     

     

    2.8

    %

    N/M - Not Meaningful. Certain figures in the tables above do not provide meaningful percentage comparison, thus, the percentage has been removed.

    Modivcare Inc.

    Unaudited Key Statistical and Financial Data

    (in thousands, except for statistical data)

     

     

    Three months ended

     

     

     

    Three months ended

     

     

     

    March 31, 2025

     

    March 31, 2024

     

    % Change

     

    December 31, 2024

     

    QoQ % Change

     

     

     

     

     

     

     

     

     

     

    Monitoring Segment

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Service revenue, net

    $

    18,125

     

     

    $

    20,102

     

     

    (9.8

    )%

     

    $

    19,164

     

     

    (5.4

    )%

    Service expense

     

    7,673

     

     

     

    8,363

     

     

    (8.3

    )%

     

     

    7,728

     

     

    (0.7

    )%

    Gross profit

    $

    10,452

     

     

    $

    11,739

     

     

    (11.0

    )%

     

    $

    11,436

     

     

    (8.6

    )%

    Gross margin

     

    57.7

    %

     

     

    58.4

    %

     

     

     

     

    59.7

    %

     

     

     

     

     

     

     

     

     

     

     

     

    G&A expense

    $

    5,408

     

     

    $

    5,440

     

     

    (0.6

    )%

     

    $

    4,659

     

     

    16.1

    %

    G&A expense adjustments

     

     

     

     

     

     

     

     

     

    Restructuring and related costs

     

    168

     

     

     

    10

     

     

    N/M

     

     

     

    —

     

     

    N/M

     

    Adjusted G&A expense

    $

    5,240

     

     

    $

    5,430

     

     

    (3.5

    )%

     

    $

    4,659

     

     

    12.5

    %

    Adjusted G&A expense % of revenue

     

    28.9

    %

     

     

    27.0

    %

     

     

     

     

    24.3

    %

     

     

     

     

     

     

     

     

     

     

     

     

    Net income (loss)

    $

    (1,083

    )

     

    $

    (308

    )

     

    251.6

    %

     

    $

    823

     

     

    (231.6

    )%

    Net income (loss) margin

     

    (6.0

    )%

     

     

    (1.5

    )%

     

     

     

     

    4.3

    %

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted EBITDA

    $

    5,212

     

     

    $

    6,309

     

     

    (17.4

    )%

     

    $

    6,777

     

     

    (23.1

    )%

    Adjusted EBITDA margin

     

    28.8

    %

     

     

    31.4

    %

     

     

     

     

    35.4

    %

     

     

     

     

     

     

     

     

     

     

     

     

    Average monthly members (thousands)

     

    231

     

     

     

    249

     

     

    (7.2

    )%

     

     

    249

     

     

    (7.2

    )%

    Revenue per member per month

    $

    26.15

     

     

    $

    26.91

     

     

    (2.8

    )%

     

    $

    25.65

     

     

    1.9

    %

    Service expense per member per month

    $

    11.07

     

     

    $

    11.20

     

     

    (1.2

    )%

     

    $

    10.35

     

     

    7.0

    %

    N/M - Not Meaningful. Certain figures in the tables above do not provide meaningful percentage comparison, thus, the percentage has been removed.

    Modivcare Inc.

    Unaudited Key Statistical and Financial Data

    (in thousands)

     

     

    Three months ended

     

     

     

    Three months ended

     

     

     

    March 31, 2025

     

    March 31, 2024

     

    % Change

     

    December 31, 2024

     

    QoQ % Change

     

     

     

     

     

     

     

     

     

     

    Corporate and Other Segment

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    G&A expense

    $

    22,813

     

     

    $

    15,485

     

     

    47.3

    %

     

    $

    20,227

     

     

    12.8

    %

    G&A expense adjustments

     

     

     

     

     

     

     

     

     

    Restructuring and related costs

     

    6,547

     

     

     

    1,729

     

     

    278.7

    %

     

     

    6,460

     

     

    1.3

    %

    Transaction and integration costs

     

    521

     

     

     

    45

     

     

    N/M

     

     

     

    408

     

     

    27.7

    %

    Settlement related costs

     

    1,971

     

     

     

    —

     

     

    N/M

     

     

     

    —

     

     

    N/M

     

    Stock-based compensation

     

    1,174

     

     

     

    1,781

     

     

    (34.1

    )%

     

     

    1,744

     

     

    (32.7

    )%

    Adjusted G&A expense

    $

    12,600

     

     

    $

    11,930

     

     

    5.6

    %

     

    $

    11,615

     

     

    8.5

    %

    Adjusted G&A expense % of consolidated revenue

     

    1.9

    %

     

     

    1.7

    %

     

     

     

     

    1.7

    %

     

     

     

    Three months ended

     

     

     

    Three months ended

     

     

     

    March 31, 2025

     

    March 31, 2024

     

    % Change

     

    December 31, 2024

     

    QoQ % Change

     

     

     

     

     

     

     

     

     

     

    Consolidated Modivcare Inc.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    G&A expense

    $

    78,589

     

     

    $

    77,177

     

     

    1.8

    %

     

    $

    74,246

     

     

    5.8

    %

    G&A expense adjustments

     

     

     

     

     

     

     

     

     

    Restructuring and related costs

     

    9,455

     

     

     

    5,105

     

     

    85.2

    %

     

     

    7,509

     

     

    25.9

    %

    Transaction and integration costs

     

    785

     

     

     

    1,543

     

     

    (49.1

    )%

     

     

    163

     

     

    381.6

    %

    Settlement related costs

     

    2,105

     

     

     

    —

     

     

    N/M

     

     

     

    —

     

     

    N/M

     

    Stock-based compensation

     

    1,174

     

     

     

    1,781

     

     

    (34.1

    )%

     

     

    1,744

     

     

    (32.7

    )%

    Adjusted G&A expense

    $

    65,070

     

     

    $

    68,748

     

     

    (5.3

    )%

     

    $

    64,830

     

     

    0.4

    %

    Adjusted G&A expense % of consolidated revenue

     

    10.0

    %

     

     

    10.0

    %

     

     

     

     

    9.2

    %

     

     

    N/M - Not Meaningful. Certain figures in the tables above do not provide meaningful percentage comparison, thus, the percentage has been removed.

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250508665143/en/

    Investor Relations Contact

    ICR Healthcare

    [email protected]

    Get the next $MODV alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $MODV

    DatePrice TargetRatingAnalyst
    8/9/2024$35.00Mkt Perform → Outperform
    Barrington Research
    5/6/2024$50.00Hold → Buy
    Lake Street
    2/23/2024$60.00 → $40.00Buy → Hold
    Deutsche Bank
    2/23/2024$60.00 → $39.00Buy → Hold
    Jefferies
    8/3/2022$145.00Overweight
    Stephens
    2/28/2022$190.00 → $155.00Outperform
    Barrington Research
    2/3/2022$180.00 → $150.00Buy
    Deutsche Bank
    12/17/2021$180.00Buy
    Deutsche Bank
    More analyst ratings

    $MODV
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • ModivCare upgraded by Barrington Research with a new price target

      Barrington Research upgraded ModivCare from Mkt Perform to Outperform and set a new price target of $35.00

      8/9/24 9:17:22 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • ModivCare upgraded by Lake Street with a new price target

      Lake Street upgraded ModivCare from Hold to Buy and set a new price target of $50.00

      5/6/24 8:28:24 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • ModivCare downgraded by Deutsche Bank with a new price target

      Deutsche Bank downgraded ModivCare from Buy to Hold and set a new price target of $40.00 from $60.00 previously

      2/23/24 7:11:03 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Financials

    Live finance-specific insights

    See more
    • Modivcare Reports First Quarter 2025 Financial Results

      Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three months ended March 31, 2025. "In Q1, we continued to advance our strategic objectives and operational initiatives," said L. Heath Sampson, President and CEO. "Company-wide alignment on key initiatives—securing new contracts, laying the groundwork for scalable automation, reducing G&A, strengthening our working-capital discipline, and progressing toward divestiture readiness—positions us to deliver enhanced performance and long-term va

      5/8/25 4:53:00 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Modivcare to Report First Quarter 2025 Financial Results

      Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the first quarter ended March 31, 2025, on Thursday, May 8, 2025, after the market closes and host a conference call at 5:00 p.m. Eastern Time the same day. The conference call dial-in number for domestic callers is (877) 407-8037, and international callers should dial +1 (201) 689-8037. Interested parties may also access the live webcast via the Company's website at: https://investors.modivcare.com/even

      4/28/25 4:05:00 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Modivcare Reports Fourth Quarter and Full Year 2024 Financial Results; Announces Changes to the Board of Directors

      Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today reported financial results for the three months and full year ended December 31, 2024. Fourth Quarter 2024 Summary: Service revenue of $702.8 million, remaining consistent with the fourth quarter of 2023 Net loss of $23.5 million, or negative $1.64 per diluted common share Adjusted EBITDA(1) of $40.4 million, adjusted net income(1) of $2.7 million and adjusted EPS(1) of $0.19 per diluted common share Net cash provided by operating activities during the quarter of $30.0

      3/6/25 4:23:00 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    SEC Filings

    See more
    • ModivCare Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits

      8-K - ModivCare Inc (0001220754) (Filer)

      5/8/25 4:52:15 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • SEC Form 8-K filed by ModivCare Inc.

      8-K - ModivCare Inc (0001220754) (Filer)

      5/5/25 6:34:16 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • SEC Form DEFA14A filed by ModivCare Inc.

      DEFA14A - ModivCare Inc (0001220754) (Filer)

      4/30/25 4:57:23 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Large owner Ai Catalyst Fund, Lp bought $1,677,000 worth of shares (420,000 units at $3.99) (SEC Form 4)

      4 - ModivCare Inc (0001220754) (Issuer)

      2/3/25 9:56:40 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Large owner Coliseum Capital Management, Llc bought $9,995,856 worth of shares (1,502,424 units at $6.65) (SEC Form 4)

      4 - ModivCare Inc (0001220754) (Issuer)

      1/14/25 7:32:58 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Large owner Q Global Capital Management, L.P. bought $48,385 worth of shares (3,837 units at $12.61) and sold $5,400,260 worth of shares (749,002 units at $7.21) (SEC Form 4)

      4 - ModivCare Inc (0001220754) (Issuer)

      1/13/25 6:35:04 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Modivcare Reports First Quarter 2025 Financial Results

      Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three months ended March 31, 2025. "In Q1, we continued to advance our strategic objectives and operational initiatives," said L. Heath Sampson, President and CEO. "Company-wide alignment on key initiatives—securing new contracts, laying the groundwork for scalable automation, reducing G&A, strengthening our working-capital discipline, and progressing toward divestiture readiness—positions us to deliver enhanced performance and long-term va

      5/8/25 4:53:00 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Modivcare Announces Executive Leadership Transitions as Part of Strategic Business Model Evolution

      Modivcare Inc. (NASDAQ:MODV), a technology-enabled healthcare services company that provides supportive care solutions to address the social determinants of health, today announced the planned departures of two members of its executive leadership team as the company continues to align its structure with its evolving business model and modernization strategy. Barb Gutierrez, Chief Financial Officer, and Jessica Kral, Chief Information Officer, will be departing the company following a period of transition. Barb's and Jessica's departures come as Modivcare evolves its organizational structure in an effort to support the next phase of its modernization strategy—built on the financial and tech

      5/5/25 6:30:00 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Modivcare to Report First Quarter 2025 Financial Results

      Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the first quarter ended March 31, 2025, on Thursday, May 8, 2025, after the market closes and host a conference call at 5:00 p.m. Eastern Time the same day. The conference call dial-in number for domestic callers is (877) 407-8037, and international callers should dial +1 (201) 689-8037. Interested parties may also access the live webcast via the Company's website at: https://investors.modivcare.com/even

      4/28/25 4:05:00 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SEC Form 3 filed by new insider Silvers Daniel B.

      3 - ModivCare Inc (0001220754) (Issuer)

      4/28/25 7:00:13 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • New insider Mounts Gonzales David claimed ownership of 2,130,000 shares (SEC Form 3)

      3 - ModivCare Inc (0001220754) (Issuer)

      3/17/25 4:46:20 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • SEC Form 3 filed by new insider Cunningham Alexander R.

      3 - ModivCare Inc (0001220754) (Issuer)

      3/17/25 4:33:30 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary

    $MODV
    Leadership Updates

    Live Leadership Updates

    See more
    • Modivcare Announces Changes to Board of Directors

      Seasoned Executive Daniel Silvers Brings Decades of Experience in Corporate Finance, Capital Allocation and Public Company Governance Modivcare Inc. ("Modivcare" or the "Company") (NASDAQ:MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Daniel Silvers has been appointed to its board of directors (the "Board"), effective April 24, 2025. The appointment of Mr. Silvers completes the Board's previously announced plan to add three new independent directors pursuant to its contractual obligations with its lenders. "We welcome Mr. Silvers to the Board and are confide

      4/25/25 6:30:00 AM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Modivcare Announces Changes to Board of Directors

      Financial and Healthcare Executive Erin L. Russell Brings Decades of Experience in Healthcare Capital Markets and Strategy Modivcare Inc. (the "Company" or "Modivcare") (NASDAQ:MODV), a technology-enabled healthcare services company providing a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Erin L. Russell has been appointed to its board of directors (the "Board"), effective February 10, 2025. Ms. Russell brings more than 25 years of experience in the healthcare and financial sectors, with a distinguished track record in capital and credit markets. On the Board, Ms. Russell will be a member of the Audit and Nominating and Govern

      2/14/25 6:00:00 AM ET
      $EHTH
      $KAI
      $MODV
      $TVTY
      Specialty Insurers
      Finance
      Industrial Machinery/Components
      Industrials
    • GE Vernova and Solventum Set to Join S&P 500; Dentsply Sirona to Join S&P MidCap 400; Others to Join S&P SmallCap 600

      NEW YORK, March 27, 2024 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600: Solventum Corp. (NYSE:SOLV) will be added to the S&P 500 effective prior to the open of trading on Monday, April 1, replacing V.F. Corp. (NYSE:VFC), which will be moved to the S&P SmallCap 600 effective prior to the open of trading on Wednesday, April 3. V.F. will replace ModivCare Inc. (NASD: MODV) in the S&P SmallCap 600 also effective prior to the open of trading on April 3. S&P 500 and 100 constituent 3M Co. (NYSE:MMM) is spinning off Solventum in a transaction expected to be completed April 1. Following the spin-off, the parent 3M will rema

      3/27/24 6:12:00 PM ET
      $FOXF
      $GE
      $MMM
      $MODV
      Motor Vehicles
      Consumer Discretionary
      Consumer Electronics/Appliances
      Technology

    $MODV
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13D/A filed by ModivCare Inc.

      SC 13D/A - ModivCare Inc (0001220754) (Subject)

      12/13/24 9:05:42 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Amendment: SEC Form SC 13D/A filed by ModivCare Inc.

      SC 13D/A - ModivCare Inc (0001220754) (Subject)

      12/13/24 5:07:48 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary
    • Amendment: SEC Form SC 13D/A filed by ModivCare Inc.

      SC 13D/A - ModivCare Inc (0001220754) (Subject)

      12/9/24 7:46:13 PM ET
      $MODV
      Transportation Services
      Consumer Discretionary