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Innovage Holding Corp. (INNV)
NASDAQ:INNV
Earnings Data
Report Date
May 12, 2026After Close (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
0.06Last Year’s EPS
-0.08Same Quarter Last Year
Moderate Sell
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed meaningful operational and financial progress: strong revenue growth, a return to profitability, achievement of the company’s adjusted EBITDA margin target (9.2%), raised full-year guidance, improved cash generation, and tangible improvements in revenue integrity and clinical cost management. Offsetting risks include ongoing de novo center losses, rising certain care and restructuring costs, retention/disenrollment headwinds, and policy/rate uncertainty from Medicare risk model changes. Management emphasized continued work to reduce variation, improve participant experience and retention, and the phased nature of policy impacts.Company Guidance
Revenue Growth
Total revenues of $239.7M in Q2, up 14.7% year-over-year from $209.0M and up 1.5% sequentially, driven by higher member months and capitation rates.
Adjusted EBITDA Turnaround and Margin Target Achieved
Adjusted EBITDA of $22.2M in Q2 (vs. $5.9M in 2025 and $17.6M in 2026), yielding an adjusted EBITDA margin of 9.2%, exceeding the company's intermediate-term 8%–9% target and improving from 2.8% in 2025 (a ~640 bps increase).
Net Income Improvement
Net income of $11.8M in Q2 versus a net loss of $13.5M in 2025; net income per share of $0.08 with ~136.4M diluted shares outstanding.
Enrollment and Member Month Growth
Census of ~8,010 participants as of 12/31/2025 (7.1% growth vs. 2025; 1.5% sequential). Member months of 23,960 in Q2, up ~7.9% year-over-year and ~2% sequentially, aided by reinstatements after Medicaid redetermination work.
Improved Contribution Margin and Cost Management
Central/center-level contribution margin of $52.8M in Q2 (22% of revenue), up ~430 basis points vs. 17.7% in 2025. Stronger medical cost management noted, with decreases in cost-per-participant driven by lower permanent nursing facility utilization and pharmacy cost reductions from insourcing.
Raised Fiscal 2026 Guidance
Updated FY26 guidance raised: member months 92,900–95,700; total revenue $925M–$950M; adjusted EBITDA $70M–$75M; ending census unchanged at 7,900–8,100, reflecting confidence from first-half results.
Stronger Operating Cash and Balance Sheet Position
Quarter-end liquidity of $83.2M cash plus $42.8M short-term investments, total debt of $69.9M, positive operating cash flow of $21.4M in the quarter, and modest capex of $2.4M.
Operational and Governance Progress
Company reported disciplined execution: improved revenue integrity (Medicaid eligibility/redeterminations), standardized center operations, lower corporate G&A (down 5.3% vs. 2025 and 12.1% vs. Q1 2026), pharmacy insourcing stabilization, and board governance changes to strengthen oversight.
INNV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
INNV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 03, 2026 | $5.66 | $7.78 | +37.46% |
Nov 04, 2025 | $4.84 | $3.99 | -17.56% |
Sep 09, 2025 | $4.27 | $4.15 | -2.81% |
May 06, 2025 | $2.85 | $3.26 | +14.39% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Innovage Holding Corp. (INNV) report earnings?
Innovage Holding Corp. (INNV) is schdueled to report earning on May 12, 2026, After Close (Confirmed).
What is Innovage Holding Corp. (INNV) earnings time?
Innovage Holding Corp. (INNV) earnings time is at May 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INNV EPS forecast?
INNV EPS forecast for the fiscal quarter 2026 (Q3) is 0.06.