InnovAge stock posts Q1 revenue growth, reaffirms fiscal outlook

InnovAge reported stronger operating results for the fiscal first quarter ended September 30, 2026, in a Form 8-K filed on November 3. According to StockTitan's presentation of the SEC filing, revenue rose 12.1 percent from the prior-year quarter to USD 264.8 million.

Profitability improves across operations

Net income increased to USD 20.9 million from USD 7.7 million a year earlier. Net income attributable to InnovAge was USD 19.6 million, or USD 0.14 per share, compared with USD 8.0 million, or USD 0.06 per share, in the prior-year period.

Adjusted EBITDA, a non-GAAP measure, rose to USD 31.3 million from USD 17.6 million, lifting the margin to 11.8 percent from 7.5 percent. Center-level contribution margin increased to USD 63.6 million, or 24.0 percent of revenue, while the participant census reached approximately 8,420 from 7,890.

Guidance remains unchanged

InnovAge reaffirmed fiscal 2027 revenue guidance of USD 1.05 billion to USD 1.085 billion and adjusted EBITDA guidance of USD 105 million to USD 115 million. The outlook also calls for a year-end census of 8,625 to 8,850 participants and total member months of 101,000 to 102,500.

The company cautioned that actual results may differ materially from its guidance. Operating cash flow for the quarter was USD 28.7 million, compared with USD 3.9 million a year earlier, while cash and cash equivalents stood at USD 119.3 million at quarter-end.

InnovAge business and market position

InnovAge provides coordinated healthcare through the Program of All-inclusive Care for the Elderly, or PACE, for high-cost, frail seniors who are predominantly eligible for both Medicare and Medicaid. The company operates 20 centers across six US states and is headquartered in Denver, Colorado.

Its model combines medical, personal and social services with capitated payments from government payors. That focus places InnovAge among specialized US PACE providers rather than broad hospital operators or general health insurers.

InnovAge stock was quoted at USD 9.79 in after-hours trading at 4:00 p.m. EST on Wednesday, November 4, 2026. For broader US equity coverage, see the S&P 500 market overview.

More earnings updates and company developments are available in more news and analyses on InnovAge stock.