Core Viewpoint - CarMax, Inc. is facing a class action lawsuit due to allegations of misleading investors about its growth prospects for fiscal year 2026, particularly following disappointing financial results that led to a significant drop in stock price [1][2][3]. Summary by Sections Company Overview - CarMax, Inc. is identified as the largest retailer of used vehicles in the United States [1]. Class Action Details - A class action was filed on behalf of investors who acquired CarMax securities between June 20, 2025, and September 24, 2025, alleging that the company misrepresented its growth potential [1][4]. Financial Performance - On September 25, 2025, CarMax reported disappointing financial results for the second quarter of fiscal year 2026, resulting in a stock price decline of $11.5 per share, or 20.07%, closing at $45.60 [2]. - The following day, the stock fell an additional 1.62%, closing at $44.86 [2]. Allegations of Misrepresentation - Plaintiffs claim that CarMax's growth was overstated, attributing earlier growth in fiscal year 2026 to temporary factors such as customer speculation regarding tariffs [3]. Next Steps for Investors - Shareholders interested in serving as lead plaintiffs must submit their papers by January 2, 2026, while those who do not wish to participate can remain as absent class members [4].

The market expects CareMax, Inc. (CMAX) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if th ...

CareMax, Inc. (CMAX) came out with a quarterly loss of $10.48 per share versus the Zacks Consensus Estimate of a loss of $7.51. This compares to loss of $4.50 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -39.55%. A quarter ago, it was expected that this company would post a loss of $8.73 per share when it actually produced a loss of $10.99, delivering a surprise of -25.89%. Over the last four quarters, the company has not ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39391 CareMax, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 85-0992224 ( State or other jurisdiction of incorporation or organization)(I.R.S. Employer ...

Revenue and Income - Government value-based care revenue increased to $18.8 million for the three months ended March 31, 2024, an increase of $8.8 million, or 88.0%, compared to $10.0 million for the same period in 2023[222]. - Medicare risk-based revenue increased to $168.5 million for the three months ended March 31, 2024, a rise of $46.9 million or 38.6% compared to $121.6 million for the same period in 2023, driven by a 23.5% increase in at-risk Medicare patients[353]. - Other income, net was $0.6 million for the three months ended March 31, 2024, an increase of $0.4 million, or 227.2%, compared to $0.2 million for the same period in 2023[226]. - Other revenue decreased to $7.3 million for the three months ended March 31, 2024, down $8.5 million or 53.8% from $15.8 million in the same period of 2023, primarily due to a decrease in capitation and partial risk revenue[354]. Expenses - Cost of care expenses were $43.1 million for the three months ended March 31, 2024, an increase of $4.5 million, or 11.7%, compared to $38.6 million for the same period in 2023[223]. - Sales and marketing expenses were $3.1 million for the three months ended March 31, 2024, a decrease of $0.7 million or 18.6% compared to $3.8 million for the same period in 2023, reflecting efforts to reduce operating expenses[355]. - Depreciation and amortization expenses were $6.7 million for the three months ended March 31, 2024, an increase of $0.1 million, or 2.0%, compared to $6.6 million for the same period in 2023[224]. Cash Flow and Financing - As of March 31, 2024, the company had cash and cash equivalents of $41.5 million[227]. - The company reported net cash used in operating activities of $(23,802) thousand, compared to $(21,746) thousand for the same period in 2023, indicating a 9.5% increase in cash outflow[237]. - The company reported net cash used in investing activities of $(126) thousand for the three months ended March 31, 2024, compared to $(2,286) thousand for the same period in 2023, indicating a significant reduction in investment outflows[237]. - The company paid off all outstanding indebtedness of $35.5 million in October 2023, terminating the Loan and Security Agreement[207]. - The company does not expect to comply with the maximum leverage ratio and minimum liquidity covenants specified in the Credit Agreement for the next twelve months[228]. - The company has secured debt financing of up to $1.0 million for each new center opened in partnership with Elevance Health[235]. - The Company drew $0 and $30.0 million of the Delayed Draw Term Loans during the three months ended March 31, 2024 and 2023, respectively[362]. - As of March 31, 2024, there was no remaining availability under the Delayed Draw Term Loans[362]. - In October 2023, the Company paid off all outstanding indebtedness of $35.5 million under the Loan and Security Agreement with proceeds from the MSSP payment from the federal government[365]. - A promissory note for $1.0 million was entered into in October 2022, due in October 2032, to finance costs of a new center opened in partnership with Elevance Health[366]. - The Company is required to maintain a minimum stockholder's equity of $100.0 million and a minimum cash balance of $25.0 million under its finance and operating leases[367]. Compliance and Agreements - The company was in compliance with all financial covenants under the Credit Agreement as of March 31, 2024[232]. - The company entered into a Waiver and Third Amendment to Credit Agreement on March 15, 2024, which included a 2.00% increase in the applicable margin rate during the specified period[231]. - The company has commitments under the Credit Agreement and operating and finance leases for its centers, with remaining lease durations ranging from 19 to 20 years[238]. Impairments and Losses - The company recorded a loss on fair value of derivative liabilities of $2.4 million for the three months ended March 31, 2024, a decrease of $3.5 million, or 315.1%, compared to a gain of $1.1 million for the same period in 2023[225]. - The company recognized a goodwill impairment of $0 for the three months ended March 31, 2024, a decrease of $98.0 million or 100.0% compared to $98.0 million for the same period in 2023[356]. Technology and Operations - Approximately 81% of revenue for the three months ended March 31, 2024, came from Medicare eligible seniors aged 65 and older[203]. - CareMax's CareOptimize technology platform is designed to drive better outcomes and lower costs by supporting informed care delivery decisions[202]. - There have been no changes to the Company's critical accounting policies and estimates as described in the Annual Report for the year ended December 31, 2023[369].

CareMax Reports First Quarter 2024 Results • Continuing to Explore Strategic Options to Maximize Value of Certain Assets and Generate Further Liquidity "During the first quarter of 2024, we believe we began to see benefits from our fourth quarter clinical efforts which became fully implemented toward the end of last year," said Carlos de Solo, Chief Executive Officer. "While absolute levels of utilization remained elevated, Medicare risk medical expense ratio in the first quarter of 2024 was favorable to ou ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: CareMax (CMAX) is a technology-enabled care platform providing value-based care and chronic disease management to seniors. The Zacks Consensus Estimate for its current year earnings has been revised 79.9% downward over the last 60 days. LanzaTech Global, Inc. (LNZA) converts waste carbon into materials such as sustainable fuels, fabrics, packaging and other products which people use in their daily lives. The Zacks Consensus Estimate ...

CareMax, Inc. (NASDAQ:CMAX) Q4 2023 Earnings Call Transcript March 18, 2024 8:30 AM ET Company Participants Roger Ou - Senior Vice President of Investor Relations Carlos de Solo - Co-Founder, President, CEO & Director Kevin Wirges - EVP, CFO & Treasurer Operator Good morning and welcome to CareMax' Fourth Quarter 2023 Earnings Call. Please note this call is being recorded. I would now like to turn the conference call over to Roger Ou, Senior Vice President of Investor Relations. Please go ahead. Roger Ou G ...

CareMax Reports Fourth Quarter and Full Year 2023 Results • Exploring Strategic Options to Maximize Value of Certain Assets and Generate Further Liquidity Fourth Quarter 2023 Results • Net loss was $465.8 million, including $369.2 million of non-cash goodwill impairment, compared to net income of $10.4 million for the fourth quarter of 2022, which included a $76.3 million non-cash gain on remeasurement of contingent earnout liabilities and a $20.1 million non-cash income tax benefit, partially offset by a $ ...

Changes in our anticipated ratio of medical expense to revenue can significantly impact our financial results. Accordingly, the failure to adequately predict and control medical costs and expenses and to make reasonable estimates and maintain adequate accruals for incurred but not paid claims, could have a material adverse effect on our business, results of operations, financial condition and cash flows. Additionally, the Medicare expenses of our patients may be outside of our control in the event that pati ...