NASDAQ : INNV
InnovAge Holding Corp. — Financial statements
Healthcare · Medical Care Facilities · United States
Last price 9.19 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.25B
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Financial statements
InnovAge Holding Corp. (INNV) reported revenue of 989.71M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 989.71M | 989.71M | 853.70M | 763.86M | 688.09M | 698.64M |
| Cost of Revenue | 312.10M | 312.10M | 268.91M | 228.78M | 212.27M | 180.22M |
| Gross Profit | 677.61M | 677.61M | 584.79M | 535.07M | 475.82M | 518.42M |
| Selling, General & Admin | 650.69M | 650.69M | 571.33M | 539.30M | 509.79M | 504.78M |
| Operating Expenses | 671.84M | 671.84M | 590.84M | 558.25M | 525.21M | 518.70M |
| Operating Income | 5.77M | 5.77M | -6.05M | -23.18M | -49.40M | -283.00K |
| Interest Expense | -6.16M | -6.16M | -6.01M | -7.52M | -4.92M | -2.53M |
| Interest & Investment Income | 3.20M | 3.20M | 3.50M | 5.90M | 4.60M | |
| Earnings From Equity Investments | -1.39M | 2.84M | ||||
| Other Non Operating Income (Expenses) | 188.00K | 188.00K | 147.00K | 220.00K | 631.00K | -305.00K |
| EBT Excluding Unusual Items | 3.00M | 3.00M | -9.80M | -21.74M | -49.09M | -3.11M |
| Gain (Loss) on Sale of Assets | 418.00K | 418.00K | -508.00K | -78.00K | -1.11M | |
| Asset Writedown | -3.15M | -3.15M | -13.62M | |||
| Legal Settlements | -10.10M | |||||
| Other Unusual Items | -600.00K | -4.12M | ||||
| Pretax Income | 266.00K | 266.00K | -34.03M | -21.82M | -50.79M | -7.24M |
| Income Tax Expense | 949.00K | 949.00K | 1.32M | 1.40M | -7.24M | 723.00K |
| Earnings From Continuing Operations | -683.00K | -683.00K | -35.34M | -23.22M | -43.55M | -7.96M |
| Minority Interest in Earnings | -1.85M | -1.85M | 5.03M | 1.88M | 2.88M | 1.44M |
| Net Income | -2.54M | -2.54M | -30.31M | -21.34M | -40.67M | -6.52M |
| Net Income to Common | -2.54M | -2.54M | -30.31M | -21.34M | -40.67M | -6.52M |
| Shares Outstanding (Basic) | 135.70M | 135.70M | 135.39M | 135.90M | 135.59M | 135.52M |
| Shares Outstanding (Diluted) | 135.70M | 135.70M | 135.39M | 135.90M | 135.59M | 135.52M |
| EPS (Basic) | -0.02 | -0.02 | -0.22 | -0.16 | -0.30 | -0.05 |
| EPS (Diluted) | -0.02 | -0.02 | -0.22 | -0.16 | -0.30 | -0.05 |
| Free Cash Flow | 50.41M | 50.41M | 26.60M | -44.81M | -3.12M | -10.94M |
| Free Cash Flow Per Share | 0.37 | 0.37 | 0.20 | -0.33 | -0.02 | -0.08 |
| Gross Margin | 68.47% | 68.47% | 68.50% | 70.05% | 69.15% | 74.20% |
| Operating Margin | 0.58% | 0.58% | -0.71% | -3.03% | -7.18% | -0.04% |
| Profit Margin | -0.26% | -0.26% | -3.55% | -2.79% | -5.91% | -0.93% |
| Free Cash Flow Margin | 5.09% | 5.09% | 3.12% | -5.87% | -0.45% | -1.57% |
| EBITDA | 26.91M | 26.91M | 13.46M | -4.23M | -33.98M | 13.64M |
| EBITDA Margin | 2.72% | 2.72% | 1.58% | -0.55% | -4.94% | 1.95% |
| D&A For EBITDA | 21.14M | 21.14M | 19.51M | 18.95M | 15.42M | 13.92M |
| EBIT | 5.77M | 5.77M | -6.05M | -23.18M | -49.40M | -283.00K |
| EBIT Margin | 0.58% | 0.58% | -0.71% | -3.03% | -7.18% | -0.04% |
| Effective Tax Rate | 356.77% | 356.77% | ||||
| Revenue as Reported | 989.71M | 989.71M | 853.70M | 763.86M | 688.09M | 698.64M |
| Advertising Expenses | 8.30M | 8.30M | 7.20M | 6.80M | 5.60M | 6.70M |
Balance sheet
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 97.89M | 97.89M | 64.13M | 56.95M | 127.25M | 184.43M |
| Short-Term Investments | 43.44M | 43.44M | 41.77M | 45.83M | 46.21M | |
| Cash & Short-Term Investments | 141.33M | 141.33M | 105.90M | 102.78M | 173.46M | 184.43M |
| Accounts Receivable | 42.39M | 42.39M | 36.37M | 48.11M | 24.34M | 35.91M |
| Other Receivables | 3.28M | 3.28M | 3.31M | 3.32M | 262.00K | 6.76M |
| Receivables | 45.67M | 45.67M | 39.68M | 51.43M | 24.61M | 42.67M |
| Prepaid Expenses | 27.31M | 27.31M | 24.47M | 18.92M | 17.14M | 13.84M |
| Restricted Cash | 10.00K | 10.00K | 11.00K | 14.00K | 16.00K | 17.00K |
| Other Current Assets | 6.04M | |||||
| Total Current Assets | 214.31M | 214.31M | 176.11M | 173.14M | 215.23M | 240.96M |
| Property, Plant & Equipment | 187.50M | 187.50M | 194.94M | 221.44M | 213.40M | 176.26M |
| Long-Term Investments | 2.65M | 5.49M | 5.49M | |||
| Goodwill | 142.05M | 142.05M | 142.05M | 139.95M | 124.22M | 124.22M |
| Other Intangible Assets | 3.22M | 3.22M | 3.88M | 4.54M | 5.20M | 5.86M |
| Long-Term Accounts Receivable | 2.80M | 1.00M | ||||
| Other Long-Term Assets | 10.32M | 10.32M | 9.88M | 3.15M | 2.12M | 2.81M |
| Total Assets | 557.39M | 557.39M | 526.85M | 547.66M | 567.36M | 555.60M |
| Accounts Payable | 115.35M | 115.35M | 76.74M | 55.45M | 54.91M | 50.54M |
| Current Portion of Long-Term Debt | 2.54M | 2.54M | 2.25M | 3.79M | 3.79M | 3.79M |
| Current Portion of Leases | 10.87M | 10.87M | 9.92M | 8.74M | 8.25M | 3.37M |
| Current Income Taxes Payable | 1.21M | |||||
| Current Unearned Revenue | 28.11M | |||||
| Other Current Liabilities | 75.14M | 75.14M | 75.90M | 70.61M | 52.16M | 47.60M |
| Total Current Liabilities | 203.89M | 203.89M | 164.81M | 138.60M | 148.45M | 105.31M |
| Long-Term Debt | 45.52M | 45.52M | 57.46M | 61.48M | 64.84M | 68.21M |
| Long-Term Leases | 28.03M | 28.03M | 31.45M | 39.02M | 31.94M | 9.44M |
| Long-Term Deferred Tax Liabilities | 9.05M | 9.05M | 8.76M | 7.46M | 6.24M | 17.76M |
| Other Long-Term Liabilities | 2.13M | 2.13M | 1.46M | 1.30M | 1.09M | 1.13M |
| Total Liabilities | 288.62M | 288.62M | 263.94M | 247.85M | 252.56M | 201.85M |
| Common Stock | 137.00K | 137.00K | 137.00K | 136.00K | 136.00K | 136.00K |
| Additional Paid-In Capital | 348.72M | 348.72M | 343.38M | 337.62M | 332.11M | 327.50M |
| Retained Earnings | -105.76M | -105.76M | -101.05M | -68.31M | -35.94M | 4.73M |
| Treasury Stock | -7.50M | -7.50M | -7.50M | -179.00K | ||
| Total Common Equity | 235.60M | 235.60M | 234.97M | 269.26M | 296.30M | 332.36M |
| Minority Interest | 33.17M | 33.17M | 27.94M | 30.55M | 18.50M | 21.38M |
| Shareholders' Equity | 268.78M | 268.78M | 262.91M | 299.81M | 314.80M | 353.74M |
| Total Liabilities & Equity | 557.39M | 557.39M | 526.85M | 547.66M | 567.36M | 555.60M |
| Total Debt | 86.95M | 86.95M | 101.08M | 113.03M | 108.83M | 84.81M |
| Net Cash (Debt) | 54.38M | 54.38M | 4.82M | -10.26M | 64.63M | 99.62M |
| Net Cash Per Share | 0.40 | 0.40 | 0.04 | -0.08 | 0.48 | 0.74 |
| Filing Date Shares Outstanding | 136.45M | 136.45M | 135.64M | 135.62M | 135.88M | 135.57M |
| Total Common Shares Outstanding | 136.02M | 136.02M | 135.44M | 136.12M | 135.64M | 135.53M |
| Working Capital | 10.42M | 10.42M | 11.30M | 34.54M | 66.78M | 135.65M |
| Book Value Per Share | 1.73 | 1.73 | 1.73 | 1.98 | 2.18 | 2.45 |
| Tangible Book Value | 90.34M | 90.34M | 89.05M | 124.77M | 166.88M | 202.29M |
| Tangible Book Value Per Share | 0.66 | 0.66 | 0.66 | 0.92 | 1.23 | 1.49 |
| Land | 10.74M | 10.74M | 10.74M | 11.97M | 11.97M | 11.98M |
| Buildings | 148.86M | 148.86M | 143.92M | 156.06M | 124.26M | 122.08M |
| Machinery | 75.03M | 75.03M | 72.37M | 69.50M | 57.75M | 47.55M |
| Construction In Progress | 15.38M | 15.38M | 8.00M | 12.23M | 42.22M | 35.48M |
Cash flow statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -2.54M | -2.54M | -30.31M | -21.34M | -40.67M | -6.52M |
| Depreciation & Amortization | 21.14M | 21.14M | 19.51M | 18.95M | 15.42M | 13.92M |
| Other Amortization | 772.00K | 772.00K | 429.00K | 429.00K | 429.00K | 429.00K |
| Loss (Gain) From Sale of Assets | -418.00K | -418.00K | 508.00K | 78.00K | 1.11M | 305.00K |
| Asset Writedown & Restructuring Costs | 3.15M | 3.15M | 13.62M | |||
| Loss (Gain) on Equity Investments | 1.39M | -2.84M | ||||
| Stock-Based Compensation | 7.05M | 7.05M | 7.62M | 6.83M | 4.61M | 3.74M |
| Provision & Write-off of Bad Debts | 524.00K | 7.01M | 3.34M | 6.18M | ||
| Other Operating Activities | 12.07M | 12.07M | 4.35M | 6.13M | -9.63M | 622.00K |
| Change in Accounts Receivable | -6.02M | -6.02M | 11.21M | -30.33M | 8.22M | -9.51M |
| Change in Accounts Payable | 38.45M | 38.45M | 20.43M | 1.37M | 6.79M | 17.38M |
| Change in Unearned Revenue | -28.11M | 28.11M | ||||
| Change in Income Taxes | 34.00K | 34.00K | 14.00K | -4.27M | 7.71M | -1.36M |
| Change in Other Net Operating Assets | -8.98M | -8.98M | -16.42M | 9.21M | -5.20M | 2.11M |
| Operating Cash Flow | 64.71M | 64.71M | 32.87M | -36.90M | 20.24M | 27.30M |
| Capital Expenditures | -14.31M | -14.31M | -6.26M | -7.91M | -23.35M | -38.24M |
| Sale of Property, Plant & Equipment | 3.72M | 3.72M | ||||
| Cash Acquisitions | -4.77M | -23.92M | ||||
| Investment in Securities | -1.75M | -1.75M | 5.49M | 5.46M | -46.17M | -2.00M |
| Investing Cash Flow | -12.34M | -12.34M | -5.55M | -26.37M | -69.52M | -40.24M |
| Long-Term Debt Issued | 60.08M | 60.08M | ||||
| Long-Term Debt Repaid | -76.49M | -76.49M | -9.91M | -8.43M | -7.90M | -6.32M |
| Net Debt Issued (Repaid) | -16.41M | -16.41M | -9.91M | -8.43M | -7.90M | -6.32M |
| Repurchase of Common Stock | -1.70M | -1.70M | -9.18M | -1.50M | ||
| Other Financing Activities | -423.00K | -423.00K | 2.90M | |||
| Financing Cash Flow | -18.53M | -18.53M | -19.08M | -7.03M | -7.90M | -6.32M |
| Miscellaneous Cash Flow Adjustments | -82.00K | -82.00K | -1.05M | |||
| Net Cash Flow | 33.76M | 33.76M | 7.18M | -70.31M | -57.18M | -19.25M |
| Free Cash Flow | 50.41M | 50.41M | 26.60M | -44.81M | -3.12M | -10.94M |
| Free Cash Flow Margin | 5.09% | 5.09% | 3.12% | -5.87% | -0.45% | -1.57% |
| Free Cash Flow Per Share | 0.37 | 0.37 | 0.20 | -0.33 | -0.02 | -0.08 |
| Levered Free Cash Flow | 49.48M | 49.48M | 40.50M | -39.83M | 16.56M | -3.51M |
| Unlevered Free Cash Flow | 52.55M | 52.55M | 43.83M | -35.56M | 19.20M | -2.36M |
| Cash Interest Paid | 4.21M | 4.21M | 4.35M | 4.06M | 4.00M | 1.47M |
| Cash Income Tax Paid | 627.00K | 627.00K | 1.00K | 4.45M | 13.00K | 84.00K |
| Change in Working Capital | 23.48M | 23.48M | 15.23M | -52.15M | 45.64M | 8.62M |
Ratios
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.22B | 1.61B | 498.44M | 674.50M | 1.02B | 593.60M |
| Enterprise Value | 1.16B | 1.59B | 531.83M | 704.27M | 980.31M | 502.65M |
| Last Close Price | 8.92 | 11.85 | 3.69 | 4.96 | 7.50 | 4.38 |
| Forward PE | 20.26 | 27.90 | 259.99 | 74.73 | 74.73 | 38.66 |
| PS Ratio | 1.23 | 1.62 | 0.58 | 0.88 | 1.48 | 0.85 |
| PB Ratio | 5.15 | 5.98 | 1.90 | 2.25 | 3.23 | 1.68 |
| P/TBV Ratio | 13.47 | 17.80 | 5.60 | 5.41 | 6.09 | 2.93 |
| P/FCF Ratio | 24.15 | 31.91 | 18.74 | |||
| P/OCF Ratio | 18.81 | 24.86 | 15.17 | 50.27 | 21.74 | |
| PEG Ratio | 3.28 | 3.28 | 3.28 | 3.28 | 3.28 | |
| EV/Sales Ratio | 1.17 | 1.61 | 0.62 | 0.92 | 1.43 | 0.72 |
| EV/EBITDA Ratio | 43.20 | 59.21 | 39.50 | 36.85 | ||
| EV/EBIT Ratio | 201.45 | 276.09 | ||||
| EV/FCF Ratio | 23.07 | 31.62 | 19.99 | |||
| Debt / Equity Ratio | 0.32 | 0.32 | 0.38 | 0.38 | 0.35 | 0.24 |
| Debt / EBITDA Ratio | 2.58 | 2.58 | 5.09 | 78.66 | 6.22 | |
| Debt / FCF Ratio | 1.73 | 1.73 | 3.80 | |||
| Net Debt / Equity Ratio | -0.20 | -0.20 | -0.02 | 0.03 | -0.20 | -0.28 |
| Net Debt / EBITDA Ratio | -2.02 | -2.02 | -0.36 | -2.42 | 1.90 | -7.30 |
| Net Debt / FCF Ratio | -1.08 | -1.08 | -0.18 | -0.23 | 20.73 | 9.11 |
| Asset Turnover | 1.83 | 1.83 | 1.59 | 1.37 | 1.23 | 1.28 |
| Quick Ratio | 0.92 | 0.92 | 0.88 | 1.11 | 1.33 | 2.16 |
| Current Ratio | 1.05 | 1.05 | 1.07 | 1.25 | 1.45 | 2.29 |
| Return on Equity (ROE) | -0.26% | -0.26% | -12.56% | -7.56% | -13.03% | -2.24% |
| Return on Assets (ROA) | 0.66% | 0.66% | -0.70% | -2.60% | -5.50% | -0.03% |
| Return on Invested Capital (ROIC) | -6.92% | -6.27% | -2.13% | -8.28% | -19.59% | -0.11% |
| Return on Capital Employed (ROCE) | 1.60% | 1.60% | -1.70% | -5.70% | -11.80% | -0.10% |
| Earnings Yield | -0.22% | -0.16% | -6.08% | -3.16% | -4.00% | -1.10% |
| FCF Yield | 4.14% | 3.13% | 5.34% | -6.64% | -0.31% | -1.84% |
| Buyback Yield / Dilution | -0.23% | -0.23% | 0.38% | -0.23% | -0.05% | -9.63% |