The earnings call highlighted strong revenue growth, improved contribution margins, and significant EBITDA improvements. Despite reporting a net loss and the anticipated challenges from Medicaid redeterminations and the V28 payment model transition, the company demonstrated strong strategic initiatives and partnerships that indicate positive future prospects.

Company Guidance

During the InnovAge Fourth Quarter 2025 Earnings Conference Call, the company provided guidance for fiscal year 2026, projecting a participant census of 7,900 to 8,100 and member months ranging from 91,600 to 94,400. Total revenue is expected to be between $900 million and $950 million, with adjusted EBITDA estimated at $56 million to $65 million. The company anticipates de novo losses of $13.4 million to $15.4 million. InnovAge aims to achieve adjusted EBITDA margins of 8% to 9% over the next few years, reflecting continued operational improvements and strategic initiatives. The guidance incorporates anticipated Medicare and Medicaid rate increases and adjustments related to the V28 Medicare Advantage payment model transition. Despite projected headwinds from Medicaid redeterminations, InnovAge expects robust gross enrollment trends to continue, supporting overall growth and margin expansion.

Strong Revenue Growth

Fourth quarter revenue was $221.4 million, up 11% from Q4 last year. Full-year revenue was $853.7 million, up nearly 12% year over year.

Improved Contribution Margin

Center-level contribution margin increased to 18% for the full year, up 70 basis points from FY '24.

Significant EBITDA Improvement

Adjusted EBITDA more than doubled year over year to $34.5 million, with margins improving from 2.2% in FY '24 to approximately 4% in FY '25.

Successful Expansion Strategies

Census increased 10% year over year in FY '25, with strong partnerships formed, including a joint venture with Orlando Health and Tampa General Hospital.

Effective Cost Management

Disciplined cost management led to reduced external provider costs per participant and overall improved financial outcomes.

Strategic Partnerships and Growth Initiatives

Announced strategic partnerships and new pathways such as a Medicare-only option to expand access and create growth channels.

InnovAge Holding (INNV) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

INNV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2026 (Q1)	0.01 / -	-0.04	―	―	―
Sep 09, 2025	2025 (Q4)	-0.01 / -0.01	-0.01	0.00% (0.00)	―
May 06, 2025	2025 (Q3)	-0.01 / -0.08	-0.04	-100.00% (-0.04)	―
Feb 04, 2025	2025 (Q2)	-0.01 / -0.10	-0.03	-233.33% (-0.07)	―
Nov 05, 2024	2025 (Q1)	-0.04 / -0.04	-0.08	50.00% (+0.04)	―
Sep 10, 2024	2024 (Q4)	-0.02 / -0.01	-0.09	88.89% (+0.08)	―
May 07, 2024	2024 (Q3)	-0.04 / -0.04	-0.05	20.00% (+0.01)	―
Feb 06, 2024	2024 (Q2)	-0.03 / -0.03	-0.07	57.14% (+0.04)	―
Nov 07, 2023	2024 (Q1)	-0.04 / -0.08	-0.1	20.00% (+0.02)	―
Sep 12, 2023	2023 (Q4)	-0.04 / -0.09	-0.09	0.00% (0.00)	―

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
Sep 09, 2025	$4.27	$4.15	-2.81%
May 06, 2025	$2.85	$3.26	+14.39%
Feb 04, 2025	$3.69	$3.36	-8.94%
Nov 05, 2024	$6.07	$6.30	+3.79%

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 (INNV) report earnings?

InnovAge Holding (INNV) is schdueled to report earning on Nov 11, 2025, After Close (Confirmed).

What is InnovAge Holding (INNV) earnings time?

InnovAge Holding (INNV) earnings time is at Nov 11, 2025, 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 (Q1) is 0.02.

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