---
schema_version: "secwatch.filing_event.v1"
accession: "0001220754-25-000034"
form_type: "8-K"
ticker: null
cik: "0001220754"
company_name: "ModivCare Inc"
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T03:18:58.600856+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# ModivCare reports Q1 net loss of $50.4M; receives Nasdaq delisting notice for low MVPHS

## Summary
- Service revenue $650.7M, down 4.9% YoY; adjusted EBITDA $32.6M (5.0% of revenue).
- Net loss $50.4M (-$3.52 EPS); adjusted net loss $24.5M (-$1.71 EPS).
- NEMT revenue $449.0M (-6.3% YoY), Adj. EBITDA margin 6.2%; PCS Adj. EBITDA up 8.5% YoY.
- Nasdaq notice: MVPHS below $15M for 30 days; 180-day compliance period ends Nov 1, 2025.
- Executed $105M in new financing; targeting >$20M annualized G&A savings.

## SEC filing metadata
- accession: 0001220754-25-000034
- form_type: 8-K
- cik: 0001220754
- company_name: ModivCare Inc
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1220754/000122075425000034/0001220754-25-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1220754/000122075425000034/modv-20250505.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001220754-25-000034
- JSON: https://secwatch.observer/filing/0001220754-25-000034.json
- Plain text: https://secwatch.observer/filing/0001220754-25-000034.txt

## Key facts
- Listing & Compliance Notices
  ModivCare Inc received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(3)(C), 5810(c)(3)(D)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: market value
  - Rules: 5450(b)(3)(C), 5810(c)(3)(D)
  source text: r applicable Nasdaq rule excludes shares held by beneficial owners of more than 10% of our total shares outstanding and shares held by our officers and directors, closed below the $15,000,000 MVPHS threshold required for continued listing on The Nasdaq Global Select Market under Nasdaq Listing Rule 5450(b)(3)(C). The Notice has no immediate effect on the listing of the Company’s common stock on The Nasdaq Global Select Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(D), the Company has a compliance period of 180 calendar days, or until November 1, 2025, to regain compliance with the MVPHS r
  evidence_url: https://www.sec.gov/Archives/edgar/data/1220754/000122075425000034/0001220754-25-000034-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.