Innovage Holding Corp. · NASDAQ:INNV
Innovage — Q3 2026 Earnings Presentation
11 slides from Innovage's earnings presentation, May 5, 2026
Slide 1: Fiscal 2026 Third Quarter Earning Call
Fiscal 2026 Third Quarter Earning Call For the Period Ended March 31, 2026 Tuesday, May 5, 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 fiscal third quarter earnings call. With me today is Patrick
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 investor community for your continued trust and support. The work our teams do every day to
Slide 4: Given the complexity of the PACE population we serve, these long-term investments are essential.
Given the complexity of the PACE population we serve, these long-term investments are essential. Our goal is to deliver strong, sustainable performance while continuing to invest in the model and be a responsible partner to the states and the federal government. In the PACE model, financial performan
Slide 5: Much of our clinical AI work is being led by Dr. Paul Taheri
Much of our clinical AI work is being led by Dr. Paul Taheri. Although Paul has only been with us a short time, he has quickly stepped in to help shape our approach—bringing a strong focus on practical application, clinical rigor, and ensuring these tools are designed to support, not replace, clinic
Slide 6: At the same time, we are beginning to evaluate a broader set of potential growth alternatives
At the same time, we are beginning to evaluate a broader set of potential growth alternatives that could allow us to expand our model to more seniors over time. These may include acquisitions, joint ventures, partnerships, or participation in new programs and demonstration models that align with our
Slide 7: Ben Adams, Chief Financial Officer
So, while we have benefited from a more favorable rate environment in fiscal 2026 and are planning for a more tempered environment in fiscal 2027, we remain confident in the durability of the model and our ability to execute through the cycle. As we approach the end of the fiscal year, we believe InnovAg
Slide 8: External provider costs and cost of care
over-year increase was driven by growth in member months, partially offset by a reduction in cost per participant. Lower cost per participant was primarily attributable to reduced permanent nursing facility utilization and lower pharmacy expense following the transition to in-house pharmacy services.
Slide 9: Corporate, general and administrative expenses and net loss
Corporate, general and administrative expenses of $76.5 million dollars increased 98.3 percent compared to the third quarter of fiscal year 2025 primarily driven by an increase in litigation liability. Corporate, general and administrative expenses increased 187.6 percent compared to the second quart
Slide 10: As we enter the final quarter of fiscal 2026 and begin planning for fiscal 2027
As we enter the final quarter of fiscal 2026 and begin planning for fiscal 2027, I’d like to share a few observations on where we stand today and how we’re thinking about the year ahead. First, the business is performing well overall. Our sustained focus on quality, compliance, and operational discipli
Slide 11: Forward-Looking Statements – Safe Harbor
Forward-Looking Statements – Safe Harbor Our prepared remarks may 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,