MODVQ · As filed with the SEC
ModivCare income statement, by fiscal year
The statement as ModivCare presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Operations · USD thousands, except per-share amounts
| USD thousands, except per-share amounts | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 | FY2017 Year ended Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|
| Service revenue, net | 2,787,586 | 2,751,170 | 2,504,393 | 1,996,892 | 1,368,675 | 1,509,944 | 1,384,965 | — |
| Grant income (Note 2) | 0 | 5,037 | 7,351 | 5,441 | — | — | — | — |
| Operating expenses: | ||||||||
| Service expense | — | — | — | — | — | — | — | 1,489,044 |
| Service expense | — | — | — | 1,584,298 | 1,078,795 | 1,401,152 | 1,284,603 | — |
| Service expense | 2,367,215 | 2,304,218 | 2,032,074 | — | — | — | — | — |
| General and administrative expense | 298,391 | 304,564 | 322,171 | 271,266 | 140,539 | 67,244 | 46,098 | 72,336 |
| Asset impairment charge | — | — | — | — | 0 | 0 | 14,175 | 0 |
| Depreciation and amortization | 109,465 | 104,271 | 100,415 | 56,998 | 26,183 | 16,816 | 15,813 | 26,469 |
| Total operating expenses | — | — | — | 1,912,562 | 1,245,517 | 1,485,212 | — | — |
| Impairment of goodwill | 105,302 | 183,100 | — | — | — | — | — | — |
| Total operating expenses | 2,880,373 | 2,896,153 | 2,454,660 | — | — | — | 1,360,689 | 1,587,849 |
| Operating income (loss) | (92,787) | (139,946) | 57,084 | 89,771 | 123,158 | 24,732 | 24,276 | 36,033 |
| Interest expense, net | — | 69,120 | 61,961 | 49,081 | 17,599 | 850 | 1,783 | 1,278 |
| Other income | — | — | — | 0 | 0 | (277) | 0 | (5,363) |
| Equity in net (gain) loss of investees | — | — | — | — | — | — | — | (12,054) |
| Gain on sale of equity investment | — | — | — | — | — | — | — | (12,377) |
| Loss (gain) on foreign currency transactions | — | — | — | — | — | — | — | 345 |
| Equity in net loss (gain) of investee | — | — | — | — | — | — | 6,158 | — |
| Equity in net (income) loss of investee | — | — | — | — | (8,860) | — | — | — |
| Gain on remeasurement of cost method investment | — | — | — | — | 0 | 0 | (6,577) | — |
| Income from continuing operations before income taxes and equity method investment | — | — | — | 40,690 | 114,419 | (5,526) | 22,912 | 64,204 |
| Interest expense, net | 94,053 | — | — | — | — | — | — | — |
| Loss on debt extinguishment | 11,797 | — | — | — | — | — | — | — |
| Loss before income taxes and equity method investment | (198,637) | (209,066) | (4,877) | — | — | — | — | — |
| Income tax benefit | 5,506 | 4,319 | (3,035) | 8,729 | 24,805 | (573) | 4,684 | 4,401 |
| Equity in net (income) loss of investee, net of tax | — | — | — | 38,250 | — | — | — | — |
| Income (loss) from continuing operations, net of tax | — | — | — | (6,289) | 89,614 | (4,953) | 18,228 | 59,803 |
| Income (loss) from discontinued operations, net of tax | — | — | — | (296) | (778) | 5,919 | (37,053) | (5,983) |
| Equity in net income (loss) of investee, net of tax | (8,147) | 287 | 29,964 | — | — | — | — | — |
| Net income (loss) | (201,278) | (204,460) | (31,806) | (6,585) | 88,836 | 966 | (18,825) | 53,820 |
| Net (gain) loss attributable to noncontrolling interests | — | — | — | — | — | — | — | (451) |
| Net loss from discontinued operations attributable to noncontrolling interest | — | — | — | — | 0 | 0 | (156) | — |
| Net income (loss) attributable to ModivCare | — | — | — | — | 88,836 | 966 | (18,981) | 53,369 |
| Net income (loss) available to common stockholders (Note 16) | — | — | (31,806) | (6,585) | 32,471 | (3,437) | (25,257) | 41,865 |
| Loss per common share: | ||||||||
| Continuing operations (in dollars per share) | — | — | — | (0.45) | 2.45 | (0.72) | 0.92 | 3.52 |
| Discontinued operations (in dollars per share) | — | — | — | (0.02) | (0.06) | 0.46 | (2.87) | (0.44) |
| Basic (in dollars per share) | (14.14) | (14.43) | (2.26) | (0.47) | 2.39 | (0.26) | (1.95) | 3.08 |
| Continuing operations (in dollars per share) | — | — | — | (0.45) | 2.43 | (0.72) | 0.92 | 3.50 |
| Discontinued operations (in dollars per share) | — | — | — | (0.02) | (0.06) | 0.46 | (2.86) | (0.44) |
| Diluted (in dollars per share) | (14.14) | (14.43) | (2.26) | (0.47) | 2.37 | (0.26) | (1.94) | 3.06 |
| Weighted-average number of common shares outstanding: | ||||||||
| Basic (in shares) | 14,239,549 | 14,173,957 | 14,061,839 | 14,054,060 | 13,567,323 | 12,958,713 | 12,960,837 | 13,602,140 |
| Diluted (in shares) | 14,239,549 | 14,173,957 | 14,061,839 | 14,054,060 | 13,683,308 | 12,958,713 | 13,033,247 | 13,673,314 |
| Service revenue, net | — | — | — | — | — | — | — | 1,623,882 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.