Business
InnovAge Announces Financial Results for the Fiscal Third Quarter Ended March 31, 2025
DENVER, May 06, 2025 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (“InnovAge” or the “Company”) (Nasdaq: INNV), an industry leader in providing comprehensive
About this update from Innovage Holding Corp.
[{"type":"text","content":"DENVER, May 06, 2025 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (“InnovAge” or the “Company”) (Nasdaq: INNV), an industry leader in providing comprehensive healthcare programs to frail, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE), today announced financial results for its fiscal third quarter ended March 31, 2025. “Our third quarter results reflect continued strength in topline growth, disciplined cost management, and effective medical expense control,” said CEO Patrick Blair. “We are executing with greater consistency, and we are focused on building a PACE platform that delivers better outcomes for participants, generates meaningful savings for the healthcare system, and creates long-term value for our shareholders.” Financial Results Three Months Ended March 31, 2025 2024 in thousands, except percentages and per share amounts Total revenues$218,142 $193,071 Loss Before Income Taxes (11,061) (6,408)Net Loss (11,133) (6,184)Net Loss margin(5.1)% (3.2)% Net Loss Attributable to InnovAge Holding Corp. (11,378) (5,887)Net Loss per share - basic and diluted$(0.08) $(0.04) Center-level Contribution Margin(1)$40,747 $33,997 Adjusted EBITDA(1)$10,792 $2,955 Adjusted EBITDA margin(1) 4.9% 1.5% Fiscal Third Quarter 2025 Financial Performance Total revenue of $218.1 million, increased approximately 13.0% compared to $193.1 million in the third quarter of fiscal year 2024Loss Before Income Taxes of $11.1 million increased approximately 72.6%, compared to a Loss Before Income Taxes of $6.4 million in the third quarter of fiscal year 2024Loss Before Income Taxes as a percent of revenue was 5.1%, an increase of 1.8 percentage points, compared to Loss Before Income Tax as a percent of revenue of 3.3% in the third quarter of fiscal year 2024Center-level Contribution Margin(1) of $40.7 million, increased 19.9% compared to $34.0 million in the third quarter of fiscal year 2024Center-level Contribution Margin(1) as a percent of revenue of 18.7%, increased 1.1 percentage points compared to 17.6% in the third quarter of fiscal year 2024Net loss of $11.1 million, compared to net loss of $6.2 million in the third quarter of fiscal year 2024Net loss margin of 5.1%, an increase of 1.9 percentage points compared to a net loss margin of 3.2% in the third quarter of fiscal year 2024Net loss attributa...