InnovAge Holding Corp. (INNV) Earnings History

InnovAge Holding Corp. - Q2 FY2026 EarningsBeat

Filed at: Feb 3, 2026, 4:06 PM EST|Read from source

EXECUTIVE SUMMARY

InnovAge reported a strong second quarter with significant improvements in revenue, profitability, and adjusted EBITDA, driven by increased participant census and effective operational execution. The company raised its full-year financial guidance, signaling confidence in its continued growth trajectory and scalable PACE platform.

POSITIVE HIGHLIGHTS

  • •

    Total revenues increased 14.7% year-over-year to $239.7 million.

    positive
  • •

    Income Before Income Taxes turned positive at $12.5 million, a significant improvement from a loss of $13.5 million in the prior year quarter.

    positive
  • •

    Adjusted EBITDA increased by $16.3 million to $22.2 million, with the margin expanding by 6.4 percentage points to 9.2%.

    positive
  • •

    Center-level Contribution Margin increased 42.5% year-over-year to $52.8 million, with the margin as a percentage of revenue improving by 4.3 percentage points to 22.0%.

    positive
  • •

    Full year fiscal 2026 financial guidance was raised for total revenues ($925M-$950M) and Adjusted EBITDA ($70M-$75M).

    positive

CONCERNS & RISKS

  • •

    Despite improvements, the company still reported a net loss attributable to InnovAge Holding Corp. of $10.6 million, although this is a significant improvement from a loss of $13.2 million in the prior year quarter.

    attention
  • •

    The company is unable to provide guidance for net income (loss) or a reconciliation of Adjusted EBITDA guidance due to the inherent difficulty in forecasting certain reconciling items.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$239.71M
+14.7%
Prior year: $209.00M
Net Income
Quarterly
$11.80M
N/A
EPS (Diluted)
Quarterly
$0.08
N/A
Prior year: $-0.10
Operating Income
Quarterly
$13.26M
N/A
EPS (Basic)
Quarterly
$0.08
N/A
Prior year: $-0.10

MARGIN ANALYSIS

Operating Margin
Current Quarter
5.5%
Prior Year
-6.0%
YoY Change
+1154 bps
Net Margin
Current Quarter
4.9%
Prior Year
-6.5%
YoY Change
+1140 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

REVENUE BY SEGMENT — Q2 FY2026 2026

VISUAL OVERVIEW

|
PACE
0.0%
N/A

DETAILED BREAKDOWN

|
SegmentCurrentPrior YrYoY% Total
PACE
N/A———
Total Revenue$0.00M——100.0%

Segment performance shows business unit health and growth drivers.

MANAGEMENT GUIDANCE

FY2026

Census
7,900—8,100
Mid-point: 8,000
"remains unchanged"
Total Member Months
92,900—95,700
Mid-point: 94,300
Total revenues
$925000.0B—$950000.0B
Mid-point: $937500.0B
"raised"
Adjusted EBITDA
70,000,000—75,000,000
Mid-point: 72,500,000
"raised"

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

MANAGEMENT COMMENTARY

Strong operating and financial results this quarter, reflecting continued progress in building a scalable, high-quality PACE platform.

— InnovAge Holding Corp., Q2 FY2026 2026 Earnings Call

Performance is rooted in disciplined execution and a care model that prioritizes clinical outcomes, participant experience, and responsible stewardship of public resources.

— InnovAge Holding Corp., Q2 FY2026 2026 Earnings Call

Focused on sustainable growth, close partnership with regulators, and long-term value for participants, payors, and shareholders.

— InnovAge Holding Corp., Q2 FY2026 2026 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Census
8.0K
+7.1% YoY
Prior year: 7.5K
participants

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.