ModivCare Inc
modivcare.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2025 10-Q, filed Dec 29, 2025.
10-Q for Q3 FY2025, filed Dec 29, 2025
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Coordinates non-emergency medical transportation and provides personal care and in-home monitoring services for public and private payors and their members.
10-K for FY2024, filed Mar 6, 2025ModivCare Inc. ("ModivCare" or the "Company") is a technology-enabled healthcare services company that provides a suite of integrated…View ↗
How Did They Make Money?
Health plans and other payors pay monthly per eligible member under some transportation contracts or per service under others. Personal-care payors pay for hours delivered, while monitoring payors pay monthly for enrolled members during the contract.
10-K for FY2024, filed Mar 6, 2025The Company holds different contract types under its different segments of business. In the NEMT segment, there are both capitated…View ↗
PCS FFS revenue is reported at the estimated net realizable amount from clients, patients and third-party payors for services rendered…View ↗
Monitoring per-member-per-month ("PMPM") revenue consists of revenue from monitoring services provided to the customer. Under Monitoring…View ↗
$2.8B
-
10-K for FY2024, filed Mar 7, 2025
$2.8B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
NEMT
|
70%
FY2021: 74%
|
NEMT, FY2024
$2B Sources
|
|
|
PCS
Usage-based
10-K for FY2024, filed Mar 6, 2025 |
27%
FY2021: 25%
|
PCS, FY2024
$745.3M Sources
|
Usage-based |
|
Monitoring
Recurring
10-K for FY2024, filed Mar 6, 2025 |
2.8%
FY2021: 0.9%
|
Monitoring, FY2024
$77.7M Sources
|
Recurring |
Who Were Their Customers?
Government agencies, managed care organizations and private payors fund services for members; private consumers also pay, and home-health providers subcontract some personal-care work.
10-K for FY2024, filed Mar 6, 2025
Did Revenues Turn Into Profits?
No. It lost $201.3M in FY2024.
10-K for FY2024, filed Mar 7, 2025
−$92.8MView ↗
10-K for FY2024, filed Mar 7, 2025
−$201.3MView ↗
10-K for FY2024, filed Mar 7, 2025
−$34MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q3 FY2025, filed Dec 29, 2025
−$73.1MView ↗
- ▲ +175% (Loss)
- vs −$26.6M in Q3 FY2024
10-Q for Q3 FY2025, filed Dec 29, 2025
Open tableView ↗
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Dec 29, 2025
Transferred substantially all assets to a buyer under the reorganization plan
The buyer assumed certain liabilities as part of the asset transfer.
Sources
8-K, filed Dec 29, 2025
On the Effective Date, ModivCare entered into the Purchase Agreement with the Buyer, as contemplated by and consistent with the Plan. Under…View ↗
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Aug 22, 2025
Addressed the planned Nasdaq delisting and move to OTC trading
The filing referred to delisting and deregistration of the common stock and the start of OTC trading.
Sources
8-K, filed Aug 22, 2025
Certain statements contained in this Current Report on Form 8-K (the “Report”) constitute “forward-looking statements” within the meaning…View ↗
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Aug 21, 2025
Filed for Chapter 11 and agreed on a proposed debt restructuring
The restructuring plan included a reorganization of the company’s debt and capital structure.
Sources
8-K, filed Aug 21, 2025
As set forth in the RSA, including in the term sheet attached thereto (the “Restructuring Term Sheet”), the parties to the RSA have agreed…View ↗
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May 5, 2025
CFO departed; CEO assumed the principal financial officer role
Sources
8-K, filed May 5, 2025
On May 1, 2025, each of Barbara Gutierrez, Chief Financial Officer, and Jessica Kral, Chief Information Officer, was notified that her…View ↗
Grew. Revenue grew 2.0x in 4 years, from $1.4B in FY2020 to $2.8B in FY2024, about 19% a year.
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