secwatch.observer — SEC 8-K summary
======================================

Issuer:     ModivCare Inc (—)
CIK:        0001220754
Form:       8-K
Filed at:   2025-05-08T23:59:59+00:00
Accession:  0001220754-25-000034
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1220754/000122075425000034/0001220754-25-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1220754/000122075425000034/modv-20250505.htm
  HTML page:      https://secwatch.observer/filing/0001220754-25-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer