Molina Healthcare Inc 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period endedSeptember 30, 2025OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period from ________to________Commission file number:001-31719 MOLINA HEALTHCARE, INC.(Exact name of registrant as specified in its charter) (562)435-3666(Registrant’s telephone number, including area code)N/A(Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrantwas required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large Accelerated Filer☒Accelerated Filer☐Non-Accelerated Filer☐Smaller reporting company☐Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒The number of shares of the issuer’s Common Stock, $0.001 par value, outstanding as of October17, 2025, was approximately51.4million. Table of Contents MOLINA HEALTHCARE, INC. FORM 10-QFOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2025 TABLE OF CONTENTSITEM NUMBER PART I 1.Financial Statements2.Management’s Discussion and Analysis of Financial Condition and Results of Operations3.Quantitative and Qualitative Disclosures About Market Risk4.Controls and Procedures PART II 1.Legal Proceedings1A.Risk Factors2.Unregistered Sales of Equity Securities and Use of Proceeds3.Defaults Upon Senior Securities4.Mine Safety Disclosures5.Other Information6.ExhibitsSignatures CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME CONSOLIDATED BALANCE SHEETS CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY Table of Contents NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER30, 2025 1.Organization and Basis of Presentation Organization and Operations Molina Healthcare, Inc. provides managed healthcare services under the Medicaid and Medicare programs, and throughthe state insurance marketplaces (the “Marketplace”). We currently havefourreportable segments consisting of:1)Medicaid; 2)Medicare; 3)Marketplace; and 4)Other. Our reportable segments are consistent with how we currentlymanage the business and view the markets we serve. As of September30, 2025, we served approximately5.6million members eligible for government-sponsored healthcareprograms, located across21states. Our state Medicaid contracts typically have terms ofthree yearstofive years, contain renewal options exercisable by thestate Medicaid agency, and allow either the state or the health plan to terminate the contract with or without cause. Suchcontracts are subject to risk of loss in states that issue requests for proposal (“RFP”) open to competitive bidding by otherhealth plans. If one of our health plans is not a successful responsive bidder to a state RFP, its contract may not berenewed. In addition to contract renewal, our state Medicaid contracts may be periodically amended to include or exclude certainhealth benefits (such as pharmacy services, behavioral health services, or long-term care services); populations such asthe aged, blind or disabled (“ABD”); and regions or service areas. In Medicare, we enter into Medicare Advantage-Part D contracts with the Centers for Medicare and Medicaid Services(“CMS”) annually, and for dual-eligible programs, we enter into contracts with CMS, in partnership with each state’sdepartment of health and human services. Such contracts typically have terms ofone yeartothree years. In Marketplace, we enter into contracts with CMS, which end on December 31 of each year, and must be renewedannually. Consolidation and Interim Financial Information The consolidated financial statements include the accounts of Molina Healthcare, Inc. and its subsidiaries. In the opinionof management, these financ