ModivCare Reports $229M Loss Amid Strategic Developments
By ATTN Desk · Editorial oversight: Sean Han
ModivCare Inc. (NASDAQ: MODV)
1. Introduction
ModivCare Inc., headquartered in Denver, Colorado, is a technology-enabled healthcare services company specializing in integrated supportive care solutions. Established in 1997 as Providence Service Corporation, ModivCare addresses social determinants of health (SDoH) by coordinating transportation, remote patient monitoring, chronic care management, and personal in-home assistance for individuals and organizations responsible for patient wellbeing.
2. Corporate Structure and Workforce
- Founded: 1997 (as Providence Service Corporation)
- Headquarters: Denver, CO
- Chairman: Christopher S. Shackelton
- Chief Executive Officer: Heath Sampson
- Chief Operating Officer: Kenneth Wilson
- Employee Count: Approximately 17,500 (as of 2021)
- Business Segments:
- Non-Emergency Medical Transportation (NEMT)
- Remote Patient Monitoring
- Chronic Care Management
- Personal Care Services
3. Recent Developments and News
- May 9, 2025: Filed Form 10-Q for the quarter ended March 31, 2025.
- May 14, 2025: Amended Schedule 13G/A filed; Q Global Capital Management reports 0 shares beneficially owned.
- May 28, 2025: Filed Form 8-K (Items 5.02 and 9.01) disclosing material corporate events.
- November 2020: Acquired All Metro Health Care, enhancing home care capabilities.
- May 29, 2025 (Market Close):
- Share price: $1.30
- Volume: 4,765,948 shares
- Exchange: NASDAQ
4. Financial and Strategic Analysis
| Metric | Value |
|---|---|
| Share Price (May 29, 2025) | $1.30 |
| Volume | 4,765,948 |
| 52-Week Range | $0.87 – $32.82 |
| Market Capitalization (intraday) | $18.66 million |
| TTM Revenue | $2.75 billion |
| TTM Net Income | $(229.36) million |
| Profit Margin (TTM) | -8.33% |
| Earnings Per Share (TTM) | $(16.09) |
| Total Cash (MRQ) | $115.96 million |
| Levered Free Cash Flow (TTM) | $(72.89) million |
| Analyst 1-Year Target Estimate | $4.78 |
Strategic Initiatives:
- Data-Driven Care: Utilizing analytics to tailor services to member needs.
- Partnerships: Collaborations with payors, including Aetna Better Health, to improve access.
- Technology Investment: MyModivCare platform for ride booking; recognized as “Best Remote Patient Monitoring Solution” at MedTech Breakthrough Awards.
- Growth via M&A: Integration of All Metro Health Care to enhance in-home services.
5. Market Position and Industry Context
- Industry: Hospitals & Health Care, Social Services
- Core Offering: Provider of non-emergency medical transportation in the U.S., coordinating over 2 million rides monthly.
- Reimbursement: Primarily from government programs, including Medicaid and welfare.
- Competitive Landscape: Operates in a fragmented NEMT market, differentiating through operational scale, technology platform, and integrated care solutions.
- Sector Trends:
- Focus on SDoH and value-based care models
- Adoption of remote patient monitoring and telehealth
- Emphasis on cost reduction for high-risk members through targeted interventions
TL;DR
- On May 29, 2025, ModivCare shares closed at $1.30 on NASDAQ.
- Filed Form 10-Q on May 9, 2025, reporting $2.75 billion TTM revenue and a $229.36 million net loss (TTM).
- Submitted Form 8-K on May 28, 2025, disclosing material corporate events; amended Schedule 13G/A on May 14, 2025, reporting zero shares by Q Global.
- Analysts’ 1-year price target is $4.78; next earnings window is August 5–11, 2025.