MODV

MKT CAP:$6M

ModivCare Inc.

Market Cap

$6M

Healthcare·Medical - Care Facilities·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$0.01+$0.00 (+0.00%)

Apr 17, 2026

Company Details

ModivCare Inc., a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and patients. The company operates through four segments: Non-Emergency Medical Transpo...

CEO

L. Heath Sampson CPA

IPO Date

Aug 20, 2003

Website

www.modivcare.com

Key Metrics TTM

Revenue

$2.7B

-2.1% YoY

Net Income

-$404M

EPS (Diluted)

-$28.19

Free Cash Flow

-$88M

Revenue / Share

$189.16

Gross Margin

11.3%

Operating Margin

0.2%

Net Margin

-14.9%

FCF Margin

-3.2%

P/S

0.0x

P/E

—

Earnings Reports

Q3 2025

May 6, 2026

PENDING

Q2 2025

Dec 29, 2025

$660M-5.5%EPS -$21.16

Q1 2025

May 8, 2025

$651M-4.9%EPS -$3.52

FY 2024

Mar 6, 2025

$2.8B+1.3%EPS -$14.14

Q4 2024

Mar 6, 2025

$703M-0.0%EPS -$1.64

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 20	$282M	$86M	$49M
Q4 20	$399M	$84M	$21M
Q1 21	$454M	$93M	$29M
Q2 21	$474M	$95M	$28M
Q3 21	$493M	$94M	$13M
Q4 21	$576M	$131M	$20M
Q1 23	$662M	$112M	$8M
Q2 23	$699M	$110M	-$176M
Q3 23	$687M	$108M	$12M
Q4 23	$703M	$117M	$16M
Q1 24	$684M	$101M	-$3M
Q2 24	$698M	$110M	-$99M
Q3 24	$702M	$104M	$5M
Q4 24	$703M	$105M	$4M
Q1 25	$651M	$98M	-$4M
Q2 25	$660M	$0	$0

Valuation

Quarter	P/S	P/E
Q2 20	0.0x	0.2x
Q4 20	0.0x	0.2x
Q1 21	0.0x	0.1x
Q2 21	0.0x	0.1x
Q3 21	0.0x	0.3x
Q4 21	0.0x	—
Q1 23	0.0x	—
Q2 23	0.0x	—
Q3 23	0.0x	—
Q4 23	0.0x	—
Q1 24	0.0x	—
Q2 24	0.0x	—
Q3 24	0.0x	—
Q4 24	0.0x	—
Q1 25	0.0x	—
Q2 25	0.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 20	$108M	$108M
Q4 20	$61M	$54M
Q1 21	$135M	$129M
Q2 21	$35M	$32M
Q3 21	$6M	-$139.0K
Q4 21	$12M	$5M
Q1 23	-$3M	-$16M
Q2 23	-$108M	-$117M
Q3 23	$54M	$45M
Q4 23	-$26M	-$37M
Q1 24	$9M	$948.0K
Q2 24	-$55M	-$62M
Q3 24	$10M	$2M
Q4 24	$30M	$25M
Q1 25	-$82M	-$86M
Q2 25	-$22M	-$29M

Capital Expenditures

Quarter	CapEx
Q2 20	$756.0K
Q4 20	$7M
Q1 21	$5M
Q2 21	$3M
Q3 21	$6M
Q4 21	$7M
Q1 23	$13M
Q2 23	$9M
Q3 23	$9M
Q4 23	$11M
Q1 24	$8M
Q2 24	$7M
Q3 24	$8M
Q4 24	$5M
Q1 25	$4M
Q2 25	$7M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 20	+8.3%	+3.6%
Q1 21	+15.3%	+12.9%
Q2 21	+23.3%	+18.4%
Q3 21	+74.7%	+105.6%
Q4 21	+44.5%	+47.1%
Q1 23	+46.0%	+54.0%
Q2 23	+47.4%	+95.8%
Q3 23	+39.3%	+40.6%
Q4 23	+22.1%	+23.7%
Q1 24	+3.3%	+5.1%
Q2 24	-0.1%	-8.9%
Q3 24	+2.2%	+3.2%
Q4 24	-0.0%	+1.7%
Q1 25	-4.9%	-4.8%
Q2 25	-5.5%	-17.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 20	$727.0K	0.3%
Q4 20	$981.0K	0.2%
Q1 21	$1M	0.3%
Q2 21	$1M	0.3%
Q3 21	$2M	0.3%
Q4 21	$2M	0.3%
Q1 23	$1M	0.2%
Q2 23	$1M	0.2%
Q3 23	$2M	0.3%
Q4 23	$2M	0.3%
Q1 24	$2M	0.3%
Q2 24	$2M	0.3%
Q3 24	$530.0K	0.1%
Q4 24	$2M	0.3%
Q1 25	$1M	0.2%
Q2 25	-$486.0K	-0.1%

OpEx Breakdown

Quarter	G&A
Q2 20	$31M
Q4 20	$54M
Q1 21	$55M
Q2 21	$56M
Q3 21	$68M
Q4 21	$92M
Q1 23	$80M
Q2 23	$79M
Q3 23	$70M
Q4 23	$75M
Q1 24	$77M
Q2 24	$76M
Q3 24	$71M
Q4 24	$74M
Q1 25	$79M
Q2 25	$71M

Revenue Segments

Quarter	Managed Care Organization Contracts	Medicare And Medicaid Agency Contracts	Private Pay and Other Contracts	State Medicaid Agency Contracts
Q4 21	$294M	$46M	$16M	$220M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$133M	$0	$133M
Q1 22	$194M	$0	$194M
Q2 22	$88M	$0	$88M
Q3 22	$73M	$0	$73M
Q4 22	$14M	$0	$14M
Q1 23	$13M	$0	$13M
Q2 23	$7M	$0	$7M
Q3 23	$8M	$0	$8M
Q4 23	$2M	$0	$2M
Q1 24	$11M	$0	$11M
Q2 24	$11M	$0	$11M
Q3 24	$48M	$0	$48M
Q4 24	$113M	$0	$113M
Q1 25	$116M	$0	$116M
Q2 25	$76M	$0	$76M
Q3 25	$78M	$0	$78M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 20	13M	+0.7%	—
Q4 20	14M	+8.3%	+9.3%
Q1 21	14M	+1.4%	+10.4%
Q2 21	14M	-1.3%	+9.2%
Q3 21	14M	-1.3%	+7.0%
Q4 21	14M	+0.0%	-1.1%
Q1 23	14M	+1.2%	-1.4%
Q2 23	14M	+0.1%	-0.0%
Q3 23	14M	+0.1%	+1.4%
Q4 23	14M	+0.0%	+1.3%
Q1 24	14M	+0.1%	+0.3%
Q2 24	14M	+0.1%	+0.3%
Q3 24	14M	+0.3%	+0.5%
Q4 24	14M	+0.2%	+0.7%
Q1 25	14M	+0.3%	+0.9%
Q2 25	14M	+0.2%	+1.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 20	$74.3K	4K
Q4 20	$22.8K	18K
Q1 21	$25.9K	18K
Q2 21	$27.1K	18K
Q3 21	$28.2K	18K
Q4 21	$28.5K	20K
Q1 23	$33.1K	20K
Q2 23	$35.0K	20K
Q3 23	$34.3K	20K
Q4 23	$35.1K	20K
Q1 24	$34.2K	20K
Q2 24	$34.9K	20K
Q3 24	$35.1K	20K
Q4 24	$35.1K	20K
Q1 25	$32.5K	20K
Q2 25	$33.0K	20K

Revenue / Employee