Group 1: Earnings Performance - InnovAge Holding Corp. reported a quarterly loss of $0.01 per share, better than the Zacks Consensus Estimate of a loss of $0.02, and improved from a loss of $0.09 per share a year ago, representing an earnings surprise of 50% [1] - The company posted revenues of $199.4 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.85%, compared to year-ago revenues of $176.87 million [2] - Over the last four quarters, InnovAge has surpassed consensus revenue estimates four times, but has only exceeded consensus EPS estimates once [2] Group 2: Stock Performance and Outlook - InnovAge shares have increased by approximately 4.7% since the beginning of the year, while the S&P 500 has gained 14.7% [3] - The company's future stock performance will largely depend on management's commentary during the earnings call and the earnings outlook, including current consensus earnings expectations for upcoming quarters [4][6] - The current consensus EPS estimate for the coming quarter is -$0.04 on revenues of $203.95 million, with a breakeven estimate on revenues of $841.72 million for the current fiscal year [7] Group 3: Industry Context - The Medical Services industry, to which InnovAge belongs, is currently ranked in the bottom 34% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment and stock performance [5]

DENVER, Sept. 10, 2024 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. ("InnovAge" or the "Company") (Nasdaq: INNV), an industry leader in providing comprehensive healthcare programs to frail seniors, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE), today announced financial results for its fiscal fourth quarter and full year ended June 30, 2024. "We outlined an ambitious agenda last year focused on quality, compliance, and operational excellence and believe w ...

Core Insights - InnovAge Holding Corp. celebrated the fourth anniversary of its Sacramento center, highlighting its growth and commitment to providing comprehensive healthcare programs for dual-eligible seniors through the PACE model [1][2][3] Company Overview - InnovAge is a leader in managing care for high-cost, frail, and predominantly dual-eligible seniors, aiming to enable older adults to age independently in their homes [4] - As of March 31, 2024, InnovAge served approximately 6,820 participants across 19 centers in six states, with the recent opening of its Orlando center bringing the total to 20 centers [4] Growth and Development - The staff at the Sacramento center has increased from 20 to meet the needs of hundreds of participants, reflecting significant growth since its inception [2] - The center offers a wide range of services including transportation, in-home care, medication management, dental care, and various therapies, all tailored to individual needs [2][3] Community Engagement - InnovAge recognized community partners that assist seniors, particularly within the Latino community and low-income families, providing counseling and support services [3] - The Sacramento PACE center features multiple facilities including day rooms, a primary care clinic, a dental suite, and a therapy gym, enhancing the service delivery to participants [3]

Core Insights - InnovAge Holding Corp. celebrated the fourth anniversary of its Sacramento center, highlighting its growth and commitment to providing comprehensive healthcare programs for dual-eligible seniors through the PACE model [1][2] Company Overview - InnovAge is a leader in managing care for high-cost, frail, and predominantly dual-eligible seniors, aiming to enable older adults to age independently in their homes [4] - As of March 31, 2024, InnovAge served approximately 6,820 participants across 19 centers in six states, with the recent opening of its Orlando center bringing the total to 20 centers [4] Growth and Development - The Sacramento center has seen significant growth, expanding from a staff of seven to over 28 to meet the needs of hundreds of participants [2] - The center features various facilities, including five day rooms, a primary care clinic with 13 exam rooms, a dental suite, and a therapy gym [3] Services Offered - InnovAge provides a wide range of integrated healthcare and support services at no cost for Medicare and MediCal-covered participants, including transportation, in-home care, medication management, and social services [2] - The program emphasizes personalized care plans developed in collaboration with seniors and their families, promoting independence and well-being [2]

DENVER, June 10, 2024 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (NASDAQ: INNV) (the "Company" or "InnovAge") announced today that its Board of Directors has approved a share repurchase program (the "Program") that authorizes the Company to repurchase up to $5.0 million of its common stock. Share repurchases under the Program may be made from time to time on the open market, including pursuant to the safe harbor provided under Rule 10b-18 of the Securities Exchange Act of 1934, in privately negotiated trans ...

DENVER, June 10, 2024 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (NASDAQ: INNV) (the "Company" or "InnovAge") announced today that its Board of Directors has approved a share repurchase program (the "Program") that authorizes the Company to repurchase up to $5.0 million of its common stock. Share repurchases under the Program may be made from time to time on the open market, including pursuant to the safe harbor provided under Rule 10b-18 of the Securities Exchange Act of 1934, in privately negotiated trans ...

Core Insights - InnovAge Holding Corp. has been recertified as a Great Place to Work, reflecting the strength and camaraderie of its team [1][2] - The company focuses on providing comprehensive healthcare programs to dual-eligible seniors through the PACE model, aiming to help them live healthier and more independent lives [1][4] Employee Experience - InnovAge scored high in employee satisfaction, with staff expressing that their work has special meaning and contributes positively to the community [2][3] - The certification process involved surveying 100% of employees and evaluating over 60 elements of their job experience, including pride in community impact and the belief that their work makes a difference [2] Company Mission and Services - InnovAge tailors healthcare services through customized care plans developed in partnership with participants and their families, promoting independence and well-being [3][4] - As of March 31, 2024, InnovAge serves approximately 6,820 participants across 20 centers in six states, with a mission to enable older adults to age independently in their homes [4]

DENVER, June 03, 2024 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. ("InnovAge") (Nasdaq: INNV), an industry leader in providing comprehensive healthcare programs to predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE) has been recertified as a Great Place to Work. "Earning this badge of honor is a reflection of the strength, credibility, and camaraderie of the InnovAge team," says InnovAge President and CEO Patrick Blair. "All of us are driven by a deeply meanin ...

The 32,000 square foot Orlando state-of-the-art senior healthcare center has the capacity to serve approximately 1,300 seniors and provides integrated PACE healthcare and support services through a personalized approach that encompasses transportation, in-home care, medication management, dental care, specialty care, physical, occupational, and speech therapy, exercise, social services, meals and nutrition, socialization, recreational activities, and more. "We are thrilled to provide exceptional, robust hea ...

Company Overview - InnovAge Holding Corp. is a leader in providing comprehensive healthcare programs for predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE) [1][5] - As of March 31, 2024, InnovAge served approximately 6,820 participants across 19 centers in six states, and with the opening of the Orlando center, operates a total of 20 centers [5] New Center Launch - InnovAge announced the grand opening of a new 32,000 square foot senior healthcare center in Orlando, Florida, which has the capacity to serve approximately 1,300 seniors [1][3] - The center is a joint venture with Orlando Health, aimed at extending the reach of PACE services for eligible seniors [2] Services Offered - The Orlando center provides integrated PACE healthcare and support services, including transportation, in-home care, medication management, dental care, specialty care, physical, occupational, and speech therapy, exercise, social services, meals and nutrition, socialization, and recreational activities [3] Partnership with Orlando Health - The partnership with Orlando Health is designed to enhance the impact of PACE services and support seniors in living independently for as long as safely possible [2][4] - Orlando Health emphasizes the importance of InnovAge's personalized approach to senior care, aligning with its mission to improve health and quality of life in the community [4] Community Impact - The grand opening event was attended by local lawmakers, healthcare providers, community partners, and families, highlighting the community engagement aspect of the new center [4]