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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
ModivCare
ModivCare (MODV) investor relations material
ModivCare has been delisted
ModivCare Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Dec, 2025
Executive summary
Entered Chapter 11 bankruptcy on August 20, 2025, with a pre-arranged restructuring plan confirmed December 15, 2025, aiming to reduce debt by $1.1 billion and recapitalize the company.
Common stock was delisted from Nasdaq and now trades on the OTC Expert Market; existing equity is expected to be canceled with no recovery for shareholders.
Ongoing operations as debtor-in-possession, with significant management focus on restructuring and related legal proceedings.
Financial highlights
Q3 2025 service revenue was $679.7M, down 3.2% year-over-year; net loss was $73.1M, compared to a $26.6M loss in Q3 2024.
Nine months ended September 30, 2025: service revenue $1.99B (down 4.6% YoY), net loss $427.2M (vs. $177.8M loss in 2024).
Goodwill impairment charges of $263.4M in 2025, primarily in PCS and Monitoring segments.
Cash used in operations was $154.8M for the nine months; cash and equivalents at quarter-end were $78.2M.
Outlook and guidance
Substantial doubt exists about the ability to continue as a going concern; future depends on successful emergence from Chapter 11 and post-restructuring liquidity.
Management expects continued negative cash flows and ongoing financial challenges due to cost pressures, contract losses, and delayed collections.
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Latest events from ModivCare
- Revenue growth faced EBITDA pressure, Medicaid headwinds and working-capital strain.MODV
Q4 2023 - Q2 2025 loss deepened to $303.7M amid bankruptcy, restructuring, and major goodwill impairment.MODVQ2 2025
- Healthcare services firm files $200M shelf for flexible equity, debt, and warrant offerings.MODVRegistration Filing
- $105M in new financing, board changes, and a strategic review aim to stabilize operations.MODVProxy Filing
- Director elections, executive pay, and auditor ratification headline the 2025 annual meeting.MODVProxy Filing
- Revenue up 2.2% to $702M, net loss widens, liquidity risks persist, 2024 guidance affirmed.MODVQ3 2024
- Q2 2024 revenue flat at $698.3M, net loss $128.9M, Adjusted EBITDA $45.4M, RPM impairment.MODVQ2 2024
- Margin expansion and digital transformation position the business for growth and stability.MODVJefferies Global Healthcare Conference
- Revenue up 1.3% to $2.79B, but EBITDA and margins fell amid industry disruption and cost pressures.MODVQ4 2024
ModivCare
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Frequently asked questions
ModivCare Inc provides supportive care solutions, including non-emergency medical transportation, personal care, and remote patient monitoring services. The company serves Medicaid, Medicare, and commercially insured populations, helping patients access healthcare services and maintain independent living. ModivCare partners with healthcare organizations, managed care organizations, and government agencies. The company is headquartered in Denver, Colorado, and its shares are listed on the NASDAQ.