Core Viewpoint - Robbins LLP has initiated a class action lawsuit on behalf of investors who acquired ModivCare, Inc. (NASDAQ: MODV) securities between November 3, 2022, and September 15, 2024, alleging that the company misled investors regarding its business prospects [1][2]. Allegations - The complaint states that ModivCare failed to disclose that certain contracts in its Non-Emergency Medical Transportation (NEMT) segment led to a deterioration in the company's free cash flow [2]. - As a result of these undisclosed issues, the company experienced negative impacts on adjusted EBITDA due to contract renegotiations and pricing accommodations, and it faced liquidity challenges [2][3]. - The positive statements made by the company regarding its business operations and prospects were deemed materially misleading and lacked a reasonable basis [2][3]. Legal Proceedings - Shareholders interested in serving as lead plaintiffs in the class action must file necessary documents with the court by March 31, 2025 [4]. - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4]. Company Background - Robbins LLP is recognized for its leadership in shareholder rights litigation, focusing on helping shareholders recover losses and improve corporate governance since 2002 [5].

NEW YORK, March 10, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of ModivCare Inc. (NASDAQ: MODV).Shareholders who purchased shares of MODV during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/modivcare-inc-loss-submission-form/?id=134593&from=4CLASS PERIOD: November 3, 2022 to Sep ...

Financial Data and Key Metrics Changes - For Q4 2024, total revenue was $702.8 million, flat compared to Q4 2023, while full year revenue reached $2.79 billion, a slight increase of just over 1% [61][63] - Adjusted EBITDA for Q4 was $40.4 million, totaling $161.1 million for the full year, reflecting a decrease of approximately 20% [11][62] - Consolidated net loss for Q4 was $23.5 million, while adjusted net income was $2.7 million, or $0.19 per share [63] Business Line Data and Key Metrics Changes - The NEMT segment, representing 70% of total revenue, generated $495 million in revenue, remaining flat year over year [64] - Personal Care Services (PCS) revenue increased by 3% year over year to $186.6 million, driven by a 3.5% growth in revenue per hour [68] - Remote Patient Monitoring (RPM) revenue was $19.2 million, representing 3% of total revenue but 16% of adjusted EBITDA [69] Market Data and Key Metrics Changes - Average monthly members in the NEMT segment decreased by approximately 11% year over year, while trip volume increased by 8.5% compared to a year ago [64] - The total addressable market for NEMT is estimated to exceed $6 billion, with an annual MCO revenue base of $1 billion entering 2025 [31] Company Strategy and Development Direction - The company aims to strengthen technology-enabled platforms across NEMT, personal care, and monitoring while executing strategic financial initiatives and divesting platforms [12][22] - A focus on monetizing select segments and unlocking value is emphasized, with a strategic alternatives committee established to oversee the divestiture process [22][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the unprecedented challenges faced in 2024, including Medicaid redetermination and increased healthcare utilization, but expressed confidence in navigating these disruptions [8][9] - The company is optimistic about future growth opportunities, particularly in the MCO segment, with a win rate exceeding 90% over the past two years [31] Other Important Information - The company secured an incremental $75 million term loan and $30 million in new second lien notes to enhance financial flexibility [14][60] - New board appointments were made to enhance expertise in operational efficiency and technology innovation [15][20] Q&A Session Summary Question: How does ModivCare Inc.'s exposure to Medicaid affect fee-for-service contracts? - Management expects that any Medicaid cuts will primarily affect healthier members, and they are currently negotiating to reset payments based on member mix [78][80] Question: Can you provide an update on the sale process? - Management indicated that discussions are ongoing and they are encouraged by the interest in their platforms, but specific timing for sales was not disclosed [83][84] Question: What is the current membership status in NEMT and monitoring? - Membership in NEMT has decreased significantly, with expectations of recovery as new contracts are pursued [89][90] Question: What are the expectations for cash flow in 2025? - Management confirmed that they expect a return to positive free cash flow in the latter half of 2025, with improvements in contract structures aiding liquidity [112][117] Question: How will the transition from shared risk to fee-for-service contracts impact revenue? - Approximately 25% of revenue is expected to shift to fee-for-service contracts, which will help stabilize cash flow and reduce working capital shifts [124][126]

ModivCare (MODV) Q4 2024 Earnings Call March 07, 2025 02:17 AM ET Company Participants Heath Sampson - President & CEOBarbara Gutierrez - Chief Financial OfficerLee Jagoda - Senior Managing DirectorRaj Kumar - Senior Research Associate Conference Call Participants Pito Chickering - Analyst Operator Good day, everyone, and welcome to MODIS Fourth Quarter and Full Year twenty twenty four Financial Results Conference Call. At this time, all participants are in a listen only mode. A question and answer session ...

Core Viewpoint - ModivCare reported quarterly earnings of $0.19 per share, exceeding the Zacks Consensus Estimate of a loss of $0.10 per share, but down from $1.29 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was 290%, with a previous expectation of $0.59 per share, but the actual earnings were $0.45, resulting in a surprise of -23.73% [2] - ModivCare's revenues for the quarter ended December 2024 were $702.8 million, surpassing the Zacks Consensus Estimate by 0.51%, compared to $703.22 million in the same quarter last year [3] - The company has exceeded consensus revenue estimates two times in the last four quarters [3] Stock Performance - ModivCare shares have declined approximately 71.6% since the beginning of the year, while the S&P 500 has only decreased by 0.7% [4] - The current consensus EPS estimate for the upcoming quarter is -$0.34 on revenues of $715.67 million, and for the current fiscal year, it is $0.67 on revenues of $2.86 billion [8] Industry Outlook - The Medical Services industry, to which ModivCare belongs, is currently ranked in the top 28% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [9]

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, 2024 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 ...

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of ModivCare Inc. regarding a class action lawsuit due to alleged misleading statements and concealed information that negatively impacted the company's financial performance [1][2]. Group 1: Allegations and Financial Impact - The allegations state that ModivCare's contracts in the Non-Emergency Medical Transportation (NEMT) segment led to a deterioration in free cash flow [1]. - The complaint claims that contract renegotiations and pricing accommodations adversely affected the company's adjusted EBITDA [1]. - It is also alleged that ModivCare faced liquidity issues and that the defendants' positive statements about the company's business and prospects were materially misleading [1]. Group 2: Class Action Details - The class period for the lawsuit is defined as November 3, 2022, to September 15, 2024 [1]. - Shareholders who purchased shares during this period are encouraged to register for the class action by March 31, 2025, to potentially be appointed as lead plaintiffs [2]. - Participants will be enrolled in a portfolio monitoring software to receive updates on the case's status [2]. Group 3: Law Firm's Mission - The Gross Law Firm is recognized nationally for its commitment to protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure that companies engage in responsible business practices and good corporate citizenship [3]. - The firm seeks recovery for investors who suffered losses due to misleading statements or omissions that inflated the company's stock value [3].

NEW YORK, March 3, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of ModivCare Inc. (NASDAQ: MODV).Shareholders who purchased shares of MODV during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/modivcare-inc-loss-submission-form/?id=132963&from=4 CLASS PERIOD: November 3, 2022 to Sep ...

NEW YORK, Feb. 28, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in ModivCare Inc. ("ModivCare" or the "Company") (NASDAQ: MODV) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of ModivCare investors who were adversely affected by alleged securities fraud between November 3, 2022 and September 15, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/modivcare-inc-lawsuit-submi ...

NEW YORK, Feb. 27, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of ModivCare Inc. (NASDAQ: MODV).Shareholders who purchased shares of MODV during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/modivcare-inc-loss-submission-form/?id=132340&from=4 CLASS PERIOD: November 3, 2022 to Sep ...