NASDAQ · Financial Statements

InnovAge Holding Corp. (INNV) Financial Statements

$9.55 NASDAQ: INNV Market Cap $1.30B

InnovAge Holding Corp. most recently reported annual revenue of $990.0M, a net loss of $3.0M. Revenue grew at an average annual rate of 9.2% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

InnovAge Holding Corp.: Revenue rose from $466.0M in 2019 to $990.0M in 2026, a change of +112.4% over 7 years; net profit was positive in 2 of 8 reported years; operating margin moved from 8.5% to 6.7%, a shift of -1.8 percentage points; the most recent year shows a net loss of $3.0M.

Income Statement — 8 Years (USD millions)

Metric20192020202120222023202420252026
Revenue$466.0M$567.0M$638.0M$699.0M$688.0M$764.0M$854.0M$990.0M
Operating Expenses$426.0M$516.0M$563.0M$703.0M$737.0M$787.0M$883.0M$923.0M
Operating Profit$40.0M$51.0M$75.0M$-4.0M$-49.0M$-23.0M$-30.0M$66.0M
Operating Margin8.5%9.0%11.7%-0.6%-7.2%-3.0%-3.5%6.7%
Other Income$-14.0M$-15.0M$-110.0M$-3.0M$-1.0M$1.0M$-4.0M$-66.0M
Interest$10.0M$15.0M$17.0M$3.0M$2.0M$4.0M$5.0M$4.0M
Depreciation$9.0M$11.0M$12.0M$14.0M$15.0M$19.0M$20.0M$21.0M
Profit Before Tax$25.0M$36.0M$-35.0M$-7.0M$-51.0M$-22.0M$-34.0M$0
Tax$24.9M$27.7M$-27.9M$-10.0M$14.3M$-6.4M$-3.9M$356.8M
Net Profit$20.0M$26.0M$-44.0M$-7.0M$-41.0M$-21.0M$-30.0M$-3.0M
EPS$0.15$0.20$-0.33$-0.05$-0.30$-0.16$-0.22$-0.02
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$182.0M$189.0M$193.0M$199.0M$205.0M$209.0M$218.0M$218.0M$236.0M$240.0M$252.0M$262.0M
Operating Expenses$193.0M$191.0M$199.0M$204.0M$210.0M$222.0M$228.0M$228.0M$228.0M$224.0M$229.0M$246.0M
Operating Profit$-11.0M$-2.0M$-6.0M$-5.0M$-5.0M$-13.0M$-10.0M$-10.0M$8.0M$16.0M$23.0M$16.0M
Operating Margin-5.9%-0.9%-3.0%-2.5%-2.4%-6.0%-4.7%-4.7%3.5%6.7%9.0%6.1%
Interest$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M
Profit Before Tax$-11.0M$-4.0M$-6.0M$-1.0M$-5.0M$-13.0M$-11.0M$-11.0M$8.0M$12.0M$-30.0M$10.0M
Tax$-2.1M$-2.5M$3.5M$-138.3M$-7.6M$-250,000$-650,000$-650,000$3.1M$5.2M$-560,000$-1.2M
Net Profit$-10.0M$-3.0M$-6.0M$-2.0M$-5.0M$-13.0M$-11.0M$-11.0M$8.0M$11.0M$-29.0M$8.0M
EPS$-0.08$-0.03$-0.04$-0.01$-0.04$-0.10$-0.08$-0.08$0.06$0.08$-0.22$0.06

Over the 8 years reported for InnovAge Holding Corp., borrowings decreased from $195.0M in 2019 to $87.0M in 2026, cash stood at $98.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.05 times.

Balance Sheet — 8 Years (USD millions)

Metric20192020202120222023202420252026
Total Assets$363.0M$410.0M$539.0M$563.0M$548.0M$580.0M$557.0M$557.0M
Current Assets$119.0M$167.0M$251.0M$241.0M$173.0M$173.0M$176.0M$214.0M
Cash$61.0M$115.0M$204.0M$184.0M$57.0M$57.0M$64.0M$98.0M
Inventory$0$0$0$0$0$0$0$0
Receivables$55.0M$48.0M$38.0M$43.0M$51.0M$51.0M$40.0M$46.0M
Fixed Assets$101.0M$102.0M$143.0M$176.0M$221.0M$221.0M$195.0M$187.0M
Capital Work in Progress$0$0$0$0$0$0$0$0
Investments$15.0M$16.0M$3.0M$5.0M$48.0M$51.0M$44.0M$43.0M
Other Assets$117.0M$116.0M$124.0M$124.0M$140.0M$140.0M$0$142.0M
Total Liabilities$282.0M$302.0M$181.0M$209.0M$248.0M$280.0M$294.0M$289.0M
Current Liabilities$83.0M$77.0M$79.0M$105.0M$139.0M$139.0M$165.0M$204.0M
Borrowings$195.0M$218.0M$83.0M$85.0M$113.0M$113.0M$101.0M$87.0M
Other Liabilities$87.0M$84.0M$98.0M$124.0M$135.0M$167.0M$193.0M$202.0M
Equity$0$0$0$0$0$0$0$0
Reserves$74.0M$101.0M$335.0M$332.0M$269.0M$269.0M$235.0M$236.0M

For InnovAge Holding Corp., operating cash flow was positive in 5 of 8 reported years; free cash flow in the latest year was $50.0M; free cash flow was positive in 4 of 8 years.

Cash Flow Statement — 8 Years (USD millions)

Metric20192020202120222023202420252026
Operating Cash Flow$26.0M$44.0M$-8.0M$27.0M$-37.0M$-37.0M$33.0M$65.0M
Investing Cash Flow$-67.0M$-24.0M$-37.0M$-78.0M$-34.0M$-34.0M$-12.0M$-27.0M
Financing Cash Flow$-12.0M$0$265.0M$0$1.0M$1.0M$-9.0M$1.0M
Net Cash Flow$11.0M$53.0M$89.0M$-19.0M$-70.0M$-70.0M$8.0M$34.0M
Free Cash Flow$11.0M$32.0M$-25.0M$-11.0M$-45.0M$-45.0M$27.0M$50.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.21
EV / EBITDA38.58
FCF Yield4.15%
Quick Ratio1.05
Interest Coverage14.85
Return 1Y179.75%
Return 3Y55.42%
Return 5Y-36.42%

InnovAge Holding Corp. (INNV) financials — frequently asked questions

What is InnovAge Holding Corp.'s annual revenue?

InnovAge Holding Corp. (INNV) reported annual revenue of $990.0M in its most recent fiscal year.

What is InnovAge Holding Corp.'s net profit?

InnovAge Holding Corp. (INNV) reported a net loss of $3.0M in its most recent fiscal year.

What is INNV EV/EBITDA?

InnovAge Holding Corp.'s enterprise value to EBITDA (EV/EBITDA) ratio is 38.58.

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