InnovAge Reports Q2 Revenue of $239.7M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5d ago
0mins
Should l Buy INNV?
Reports Q2 revenue $239.7M vs. $209M last year. The company noted that revenue growth was driven by an increase in census to approximately 8,010 participants compared to 7,480 in the prior year period. Center-level contribution margin improved to 22.0% from 17.7% year-over-year. "InnovAge delivered strong operating and financial results this quarter, reflecting continued progress in building a scalable, high-quality PACE platform," said CEO Patrick Blair.
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About INNV
InnovAge Holding Corp. is a healthcare delivery platform. The Company is engaged in managing the care of high-cost, frail, and dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE). Its programs are designed to allow frail seniors to live life on their terms by aging in place, in their own homes and communities, for as long as safely possible. Through its PACE program, it offers a range of medical and ancillary services for seniors, including in-home care services (skilled, unskilled and personal care), center services such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to and from the PACE center, and third-party medical appointments and care management. Its participant-centered approach is led by the Company's Interdisciplinary Care Teams (IDTs), who oversee all aspects of each participant’s care plan.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Stock Surge: Following the positive earnings report, Cirrus Logic's shares jumped 7.6% to $134.10 on Wednesday, reflecting market optimism regarding the company's future growth potential.
- Optimistic Guidance: Cirrus Logic provided fourth-quarter sales guidance that is expected to exceed market estimates, further solidifying its competitive position in the semiconductor industry.
See More
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- Improved Medicaid Environment: The company made progress in Medicaid eligibility and redeterminations, enhancing timeliness and accuracy, reducing reserves, and reinstating coverage for several participants, which is expected to further enhance participant experience and revenue.
- Raised Full-Year Guidance: InnovAge raised its fiscal 2026 full-year guidance, now expecting member months between 92,900 and 95,700, total revenue between $925 million and $950 million, and adjusted EBITDA between $70 million and $75 million, reflecting ongoing operational improvements and better-than-expected Medicaid rates.
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See More
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- Significant Revenue Growth: The company achieved revenues of $239.71 million, a 14.7% year-over-year increase, surpassing market expectations by $11.41 million, reflecting strong business expansion and market demand.
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See More
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- Market Leadership: As of September 30, 2025, InnovAge serves approximately 7,890 participants across 20 centers in six states, indicating its significant impact in managing high-cost healthcare, thereby further solidifying its market position.
- Innovative Care Model: InnovAge's PACE model aims to enhance the ability of seniors to live independently while reducing over-utilization of high-cost care settings, reflecting the company's commitment to improving care quality for older adults, which may attract more support from government payors.
- Investor Relations: The live webcast of the conference will provide real-time information to investors, enhancing interaction between the company and its investors, thereby increasing transparency and trust in the healthcare sector.
See More
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- Litigation Background: The case, filed in 2021, accused InnovAge of providing false information to investors during the IPO period, leading to investor losses and reflecting serious deficiencies in corporate governance and transparency.
- Significant Stock Impact: Following the announcement of regulatory sanctions, InnovAge's stock plummeted by 78%, making it one of the five worst-performing IPOs of 2021, highlighting a severe lack of market confidence in the company's operations and compliance.
- Legal Team Recognition: The Honorable William J. Martinez of the U.S. District Court commended the plaintiffs' counsel for their exceptional performance, underscoring the importance of legal expertise and strategy in complex securities litigation.
See More
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Employee Commitment: CEO Patrick Blair emphasized that the recognition reflects the dedication of InnovAge's over 2,400 employees, who are committed to providing compassionate care and fostering a positive work environment, further validated by InnovAge's sixth consecutive honor as a Great Place to Work®.
See More
