Build an Inve Case for INNV → Read the full call → US$ mn · quarterly
InnovAge (INNV) earnings
InnovAge earnings: last reported Tue, 8 Sep 2026, for the quarter ended Jun 2026.
InnovAge earnings callsInnovAge earnings calls (INNV)
Latest concall · Q2 2026 · call held call held 08 Sept 2026
InnovAge Q4 FY26 — Strong Financial Performance and Strategic Vision for Growth
What went well
- Adjusted EBITDA increased approximately 175% compared with fiscal 2025, reaching $94.6 million for FY26.
- Center-level contribution margin increased 48.2% to $227.8 million in FY26, representing 23.0% of revenue (up 500 bps YoY).
- Annual census grew 6.3%, serving approximately 8,230 participants across 20 centers as of June 30, 2026.
What to watch
- Net loss of $0.7 million for FY26, primarily due to a $36.8 million net increase in litigation and settlement expenses.
- Anticipated fiscal 2027 rate environment is more tempered, with Medicare rate increases of 1.5% to 2.0% and low single-digit Medicaid rate increases.
Performance +79.6% 1Y
1Y: $4.9 on 29 Sept 2025 → $8.8. High $12.11 (6 Jul 2026), low $3.99 (5 Nov 2025).
Quarterly results
Q2 FY26: revenue up 18.3%, net profit up 1155.7% against the same quarter last year.
| Line item | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 205 | 209 | 218 | 221 | 236 +15% | 240 +15% | 252 +15% | 262 +18% |
| EBITDA | -5 | -13 | -10 | -2 | 8 +269% | 13 +206% | -29 −186% | 10 +572% |
| Net profit | -5 | -13 | -11 | -1 | 8 +263% | 11 +180% | -29 −159% | 8 +1156% |
How to read this
US$ million, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Balance sheet
| Year ending | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|
| Equity capital | $136.0K | $136.0K | $136.0K | $136.0K | $137.0K | $137.0K |
| Reserves | $10.66M | $4.73M | -$35.94M | -$68.31M | -$101.05M | -$105.76M |
| Total liabilities | $173.79M | $201.85M | $252.56M | $247.85M | $263.94M | $288.62M |
| Fixed assets | $142.72M | $176.26M | $192.19M | $193.02M | $168.04M | $166.09M |
| Investments | — | $0 | $46.21M | $45.83M | $41.77M | $43.44M |
| Total assets | $531.75M | $555.60M | $567.36M | $547.66M | $526.85M | $557.39M |
How to read this
As filed on each reporting date, including interim balance sheets. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Insider filings
27 filings between Nov 14, 2025 and Sep 25, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$185.37M
5 sales by 5 insiders
20% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 12
- Award — granted as compensation
- 7
- Tax withheld — shares kept back by the company to cover tax
Also filed: 3 other filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| TCO GROUP HOLDINGS, L.P. | — | $92.50M | Sep 24, 2026 |
| IGNITE AGGREGATOR LP | — | $92.50M | Sep 24, 2026 |
| DAMATO NICOLE | — | $207.2K | Sep 25, 2026 |
| SCARBROUGH MICHAEL ANTHONY | — | $161.7K | Nov 14, 2025 |
| Welsh, Carson, Anderson & Stowe XII, L.P. | — | $0 | Sep 24, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 25, 2026 | DAMATO NICOLE CHIEF LEGAL OFFICER | Sale 10b5-1 plan | 23,814 | $207.2K |
| Sep 24, 2026 | TCO GROUP HOLDINGS, L.P. 10% owner | Sale | 10,000,000 | $92.50M |
| Sep 24, 2026 | IGNITE AGGREGATOR LP 10% owner | Sale | 10,000,000 | $92.50M |
| Sep 24, 2026 | Welsh, Carson, Anderson & Stowe XII, L.P. 10% owner | Sale | 10,000,000 | $0 |
| Sep 3, 2026 | TCO GROUP HOLDINGS, L.P. 10% owner | Other | 411,515 | $0 |
| Sep 3, 2026 | IGNITE AGGREGATOR LP 10% owner | Other | 411,515 | $0 |
| Sep 3, 2026 | Welsh, Carson, Anderson & Stowe XII, L.P. 10% owner | Other | 411,515 | $0 |
| Jul 27, 2026 | BLAIR PATRICK T CHIEF EXECUTIVE OFFICER | Award | 78,397 | $0 |
| Jul 22, 2026 | Delk Meredith Chief Administrative Officer | Award | 42,808 | $0 |
| Jul 22, 2026 | DAMATO NICOLE CHIEF LEGAL OFFICER | Award | 51,369 | $0 |
| Jul 22, 2026 | Adams Benjamin C CHIEF FINANCIAL OFFICER | Award | 17,123 | $0 |
| Jul 16, 2026 | BLAIR PATRICK T CHIEF EXECUTIVE OFFICER | Tax withheld | 14,453 | $171.6K |
| Jul 15, 2026 | DAMATO NICOLE CHIEF LEGAL OFFICER | Tax withheld | 19,401 | $224.7K |
| Jul 1, 2026 | Bush John Ellis Director | Award | 8,539 | $0 |
| Jul 1, 2026 | Kennedy Edward Moore Jr. Director | Award | 8,539 | $0 |
| Jul 1, 2026 | Sparks Teresa Director | Award | 8,539 | $0 |
| Jul 1, 2026 | TAVENNER MARILYN B Director | Award | 8,539 | $0 |
| Jul 1, 2026 | ZORETIC RICHARD C Director | Award | 8,539 | $0 |
| Jul 1, 2026 | FONTNEAU PATRICIA Director | Award | 8,539 | $0 |
| Jul 1, 2026 | CARLSON JAMES G Director | Award | 8,539 | $0 |
| Jun 8, 2026 | Browne Jennifer President and COO | Award | 67,842 | $0 |
| Jun 6, 2026 | BLAIR PATRICK T CHIEF EXECUTIVE OFFICER | Tax withheld | 10,088 | $73.6K |
| Jun 6, 2026 | DAMATO NICOLE CHIEF LEGAL OFFICER | Tax withheld | 8,018 | $58.5K |
| Jun 5, 2026 | BLAIR PATRICK T CHIEF EXECUTIVE OFFICER | Tax withheld | 11,881 | $86.7K |
| Jun 4, 2026 | DAMATO NICOLE CHIEF LEGAL OFFICER | Tax withheld | 15,046 | $108.3K |
| Dec 1, 2025 | BLAIR PATRICK T CHIEF EXECUTIVE OFFICER | Tax withheld | 5,054 | $27.6K |
| Nov 14, 2025 | SCARBROUGH MICHAEL ANTHONY President and COO | Sale | 33,000 | $161.7K |
| Sep 1, 2025 | BLAIR PATRICK T CHIEF EXECUTIVE OFFICER | Tax withheld | 5,056 | $19.4K |
| Aug 15, 2025 | DAMATO NICOLE CHIEF LEGAL OFFICER | Tax withheld | 14,303 | $49.1K |
| Jul 16, 2025 | BLAIR PATRICK T CHIEF EXECUTIVE OFFICER | Award | 137,299 | $0 |
| Jul 15, 2025 | DAMATO NICOLE CHIEF LEGAL OFFICER | Award | 125,598 | $0 |
| Jul 15, 2025 | SCARBROUGH MICHAEL ANTHONY President and COO | Award | 119,617 | $0 |
| Jul 1, 2025 | FONTNEAU PATRICIA Director | Award | 25,316 | $0 |
| Jul 1, 2025 | Kennedy Edward Moore Jr. Director | Award | 25,316 | $0 |
| Jul 1, 2025 | Bush John Ellis Director | Award | 25,316 | $0 |
| Jul 1, 2025 | CARLSON JAMES G Director | Award | 25,316 | $0 |
| Jul 1, 2025 | Sparks Teresa Director | Award | 25,316 | $0 |
| Jul 1, 2025 | TAVENNER MARILYN B Director | Award | 25,316 | $0 |
| Jul 1, 2025 | ZORETIC RICHARD C Director | Award | 25,316 | $0 |
| Jun 6, 2025 | DAMATO NICOLE CHIEF LEGAL OFFICER | Tax withheld | 8,056 | $32.4K |
| Jun 6, 2025 | BLAIR PATRICK T CHIEF EXECUTIVE OFFICER | Tax withheld | 10,088 | $40.6K |
| Jun 5, 2025 | BLAIR PATRICK T CHIEF EXECUTIVE OFFICER | Tax withheld | 11,880 | $47.2K |
| Jun 4, 2025 | DAMATO NICOLE CHIEF LEGAL OFFICER | Tax withheld | 15,046 | $59.6K |
| Jun 1, 2025 | BLAIR PATRICK T CHIEF EXECUTIVE OFFICER | Tax withheld | 3,323 | $13.6K |
| May 30, 2025 | ZORETIC RICHARD C Director | Purchase | 8,450 | $34.5K |
| May 29, 2025 | ZORETIC RICHARD C Director | Purchase | 14,265 | $57.6K |
| May 28, 2025 | ZORETIC RICHARD C Director | Purchase | 20,000 | $81.2K |
| May 23, 2025 | ZORETIC RICHARD C Director | Purchase | 1,198 | $4.7K |
| May 22, 2025 | ZORETIC RICHARD C Director | Purchase | 700 | $2.9K |
| May 21, 2025 | ZORETIC RICHARD C Director | Purchase | 1,147 | $4.7K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.