ModivCare Inc. (NASDAQ:MODV) Q1 2021 Earnings Conference Call May 7, 2021 8:00 AM ET Company Participants John McMahon - Chief Accounting Officer Dan Greenleaf - President & Chief Executive Officer Heath Sampson - Chief Financial Officer Conference Call Participants Bob Labick - CJS Securities Brian Tanquilut - Jefferies Brooks O'Neil - Lake Street Capital Markets Mike Petusky - Barrington Research Operator Greetings. Welcome to ModivCare's First Quarter 2021 Financial Results Conference Call. At this time, ...

Financial Performance - Service revenue, net for Q1 2021 increased by $86.3 million, or 24%, compared to Q1 2020, with $110.2 million attributed to the acquisition of Simplura[141] - Operating income for Q1 2021 was $28.8 million, representing 6.4% of revenue, compared to $10.0 million, or 2.7% of revenue in Q1 2020[140] - Total operating expenses for Q1 2021 were $427.4 million, or 94.2% of revenue, compared to $357.2 million, or 97.3% of revenue in Q1 2020[140] - General and administrative expenses increased by $34.1 million, or 164%, in Q1 2021 compared to Q1 2020, primarily due to costs related to the Personal Care segment and Simplura integration[144] - Cash flow from operating activities for the three months ended March 31, 2021 was $134.6 million, up from $38.8 million in the same period of 2020[156] - Net income for Q1 2021 was $18.8 million, or 4.2% of revenue, compared to $16.1 million, or 4.4% of revenue in Q1 2020[140] COVID-19 Impact - In Q1 2021, ModivCare received approximately $2.6 million in grant income from the CARES Act Provider Relief Fund to offset lost revenue due to the COVID-19 pandemic[121] - The company deferred approximately $20.7 million in employer payroll taxes under the CARES Act, with 50% due in December 2021 and 50% due in December 2022[122] - The NEMT segment experienced a decrease in trip volumes starting March 2020, but revenues remained stable due to capitated contracts, positively impacting gross margins[123] - The Personal Care segment has seen a material reduction in service hours and visits, with recovery expected only after widespread vaccine distribution[125] Acquisitions and Investments - ModivCare's acquisition of Simplura Health Group on November 18, 2020, established its Personal Care segment, enhancing its service offerings[116] - The company holds a 43.6% minority interest in Matrix Medical Network, which provides in-home and on-site services, contributing to improved health outcomes and financial performance for health plans[117] Market Trends and Growth Opportunities - The aging population is expected to increase demand for healthcare services, including in-home personal care, which may drive future growth[123] - Medicaid and Medicare Advantage plans are increasingly covering NEMT services, which may be accelerated by recent legislative changes[123] Operational Strategy - ModivCare's technology-enabled operating model includes competencies in risk underwriting, claims management, and non-emergency medical transport management[113] - The company is focused on addressing social determinants of health (SDoH) to improve access to care and reduce costs[114] Financial Position and Compliance - The company had $299.6 million in cash and cash equivalents as of March 31, 2021, compared to $183.4 million at December 31, 2020[154] - Interest expense for Q1 2021 was $8.4 million, significantly higher than $0.2 million in Q1 2020, due to the issuance of $500.0 million in Senior Unsecured Notes[146] - Depreciation and amortization increased by $8.4 million, or 223%, in Q1 2021 compared to Q1 2020, primarily due to the Simplura acquisition[145] - The effective tax rate for continuing operations in Q1 2021 was 24.2%, compared to a benefit of 124.7% in Q1 2020[148] - As of March 31, 2021, the Company had no borrowings outstanding on the Credit Facility[165] - The applicable margin for LIBOR loans ranges from 2.25% to 3.50%, and for base rate loans, it ranges from 1.25% to 2.50%[164] - The consolidated net leverage ratio may not exceed 3.00:1.00 as of the end of any fiscal quarter, increasing to 4.50:1.00 for four quarters following the Simplura Acquisition[166] - The Company was in compliance with all covenants under the credit agreement as of March 31, 2021[167] - There have been no material changes to the Off-Balance Sheet Arrangements since the last disclosure[168] - The Company has exposure to interest rate risk related to its Credit Facility, which has variable interest rates[169]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34221 ModivCare Inc. (Exact name of registrant as specified in its charter) Delaware 86-0845127 (State or other jurisdiction of incor ...

MODIVCARE INC. February 26, 2021 NASDAQ: MODV Q4 2020 EARNINGS PRESENTATION FORWARD LOOKING STATEMENTS Certain statements contained in this presentation 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 action ...

The Providence Service Corporation (PRSC) Q3 2020 Earnings Conference Call November 6, 2020 8:00 AM ET Company Participants John McMahon - CAO Dan Greenleaf - President & CEO Kevin Dotts - CFO Conference Call Participants Bob Labick - CJS Securities Brooks O'Neil - Lake Street Capital Markets Mike Petusky - Barrington Research Operator Greetings, and welcome to The Providence Service Corporation's Third Quarter 2020 Financial Results Conference Call. My name is Jessi and I'll be your conference operator tod ...

THE PROVIDENCE SERVICE CORPORATION November 6, 2020 NASDAQ: PRSC Q3 2020 EARNINGS PRESENTATION FORWARD LOOKING STATEMENTS Certain statements contained in this presentation 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 expectation ...

FORM 10-Q (Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34221 The Providence Service Corporation (Exact name of registrant as specified in its charter) | Delaware | | | | 86-084512 ...

Company Overview - The Providence Service Corporation operates as the largest non-emergency medical transportation (NEMT) provider in the United States through its subsidiary, LogistiCare[5] - The company manages 68 million trips per year and manages the lives of 26 million individuals[6] - In 2019, the company's revenue was approximately $1700 million[7] Financial Performance and Strategy - The company's first half of 2020 revenue was $6495 million, impacted by lower trip volume due to COVID-19[47] - The company's first half of 2020 adjusted EBITDA was $724 million, benefiting from operational improvements and lower utilization under capitated contracts[51] - The company has a revolving credit facility capacity of $225 million[53] - The company aims for mid-single digit organic revenue growth and an adjusted EBITDA margin of 7-10% in a normalized post-COVID-19 environment[56] Market and Growth Opportunities - LogistiCare holds approximately 40% of the estimated $43 billion U S NEMT market share[21] - The company identifies approximately $6 billion in adjacent market opportunities and approximately $4 billion for Medicare Advantage growth[24] - National MedTrans acquisition brings approximately 2 million members to the LogistiCare platform and adds approximately $50 million of annual Medicare Advantage revenue[31]

NCE SERVICE CORP The patient journey starts with a ride PROVIDENCE SERVICE CORPOR ATION August 6, 2020 FORWARD-LOOKING STATEMENTS & NON-GAAP FINANCIAL INFORMATION Forward-looking Statements Certain statements contained in this presentation 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, ...

The Providence Service Corporation (PRSC) Q2 2020 Earnings Conference Call August 6, 2020 8:00 AM ET Company Participants Suzanne Smith - CAO Daniel Greenleaf - President and CEO Kevin Dotts - CFO Conference Call Participants Bob Labick - CJS Securities Mike Petusky - Barrington Research Brooks O'Neil - Lake Street Capital Markets Operator Ladies and gentlemen, thank you for standing by. Greetings, and welcome to the Providence Service Corporation's Second Quarter 2020 Financial Results Conference Call. [Op ...