InnovAge Announces Financial Results for the Fiscal First Quarter Ended September 30, 2025

Core Insights - InnovAge Holding Corp. reported strong financial results for the fiscal first quarter of 2026, indicating a positive start to the year with a focus on sustainable growth and high-quality care for seniors [1][2][3] Financial Performance - Total revenues reached $236.1 million, a 15.1% increase from $205.1 million in the same quarter of the previous year [3] - Income before income taxes was $7.9 million, a significant turnaround from a loss of $5.3 million in the prior year, representing a 249.2% increase [3] - Net income was $7.7 million compared to a net loss of $5.7 million in the first quarter of fiscal year 2025, with a net income margin of 3.2% [3][20] - Adjusted EBITDA increased to $17.6 million from $6.5 million, with an adjusted EBITDA margin of 7.5% [3][23] - The center-level contribution margin was $51.4 million, up 48.7% from $34.5 million in the previous year, with a margin of 21.8% [3][33] Participant Metrics - The company served approximately 7,890 participants, an increase from 7,210 participants in the first quarter of fiscal year 2025 [3] Cash and Debt Position - As of September 30, 2025, InnovAge had $67.1 million in cash and cash equivalents and $42.3 million in short-term investments, with total debt of $71.5 million [3] Fiscal Year 2026 Guidance - InnovAge provided guidance for the full fiscal year 2026, projecting total revenues between $900 million and $950 million and adjusted EBITDA between $56 million and $65 million [5]