Innovage Holding Corp. · NASDAQ:INNV
Innovage — Q4 2026 Earnings Presentation
16 slides from Innovage's earnings presentation, Sep 8, 2026
Slide 1: Earnings Call for the InnovAge 2026 Fiscal Fourth Quarter and Year End
Earnings Call for the InnovAge 2026 Fiscal Fourth Quarter and Year End Earning Call For the Period Ended June 30, 2026 Tuesday, September 8, 2026
Slide 2: Corporate Participants
Corporate Participants Ryan Kubota, Director, Investor Relations Patrick Blair, Chief Executive Officer Ben Adams, Chief Financial Officer Ryan Kubota, Director, Investor Relations Good afternoon, and thank you all for joining the InnovAge 2026 fourth quarter and fiscal year end earnings call. With me to
Slide 3: Patrick Blair, Chief Executive Officer
Patrick Blair, Chief Executive Officer Thank you, Ryan, and good afternoon, everyone. I’d like to begin by thanking our InnovAge colleagues, our participants and their families, our government partners, and our shareholders for their continued trust and support. As we close fiscal 2026 and begin fiscal
Slide 4: The organization transitioned from its non-profit roots
The organization transitioned from its non-profit roots to become a for-profit and ultimately a publicly traded company. We expanded geographically, opened and acquired centers, invested significant capital and established a national PACE platform capable of serving thousands of seniors. InnovAge 2.0 w
Slide 5: Evaluating opportunities to increase physical and operating capacity
We are evaluating opportunities to increase the physical and operating capacity of our existing centers. We are beginning to more actively evaluate de novo markets, M&A opportunities, joint ventures and other partnership models that could expand our reach over time, and we intend to remain energetic
Slide 6: Consistency across centers and improving participant experience
consistency across centers, strengthening center-level accountability, improving our use of Epic across the entire interdisciplinary care team, improving the participant experience, and building the operating and analytical capabilities necessary to support our next phase of growth. There are severa
Slide 7: AI pilots and specialist-level perspectives
information and specialist-level perspectives to inform their evaluation of a participant. In our pilot, the tool helped physicians manage a broader range of clinical needs within the interdisciplinary care team and was associated with fewer external specialist referrals. We also piloted a medicatio
Slide 8: Continues to serve only a small portion of the population
continues to serve only a small portion of the population that could potentially benefit from the program. So, understanding barriers to growth, whether they involve awareness, enrollment, eligibility, program requirements, development timelines or other structural issues, is essential if the country
Slide 9: Supporting the model and fiscal 2027 guidance
supporting the model, an aging population, increasing pressure on institutional care and a high level of engagement from federal policymakers makes this a key moment for PACE. Let me now turn to fiscal 2027. We are targeting ending census of approximately 8,625 – 8,850 participants, representing cens
Slide 10: Ben Adams, Chief Financial Officer
It’s a senior who can remain living in his or her home and community. It is a family with greater peace of mind. It is a caregiver who knows there is an interdisciplinary team managing the complexity of their loved one’s care. That is our purpose. Today, we are operating from a very different positio
Slide 11: Decrease in permanent nursing facility and short stay utilization
• A decrease in permanent nursing facility and short stay nursing facility utilization, and • A decrease in pharmacy expenses associated with the transition to in-house pharmacy services. The decrease in external provider cost per participant was partially offset by an annual increase in assisted liv
Slide 12: Corporate, general and administrative expenses increased 36.4 percent
Corporate, general and administrative expenses increased 36.4 percent to $166.5 million dollars compared to fiscal year 2025. The increase was primarily due to: • The $36.8 million dollar net increase in our litigation and settlement expenses primarily related to the accrual for various legal matters
Slide 13: Debt on the balance sheet and fiscal 2027 guidance
debt on the balance sheet (representing debt under our senior secured term loan and finance lease obligations). Turning to fiscal 2027 Guidance, which we included in today’s press release and based on information as of today: • We expect our ending census for fiscal year 2027 to be between 8,625 and 8,
Slide 14: In closing
In closing, fiscal 2026 marked a meaningful step forward for InnovAge. We improved profitability, strengthened center-level performance, and ended the year with a strong balance sheet. Looking ahead to fiscal 2027, our focus will be on disciplined execution. While the rate environment is expected to be
Slide 15: Forward-Looking Statements – Safe Harbor
Forward-Looking Statements – Safe Harbor Our prepared remarks contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “estimate,” “e
Slide 16: Forward-looking statements (continued)
obligations or penalties; and (xi) our ability to adhere to complex and changing government laws and regulations in the healthcare industry. Forward-looking statements are based only on information currently available to us and speaks only as of the date on which it is made. Except as required by la