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NASDAQ · SERVICES-HEALTH SERVICES · MID CAP

InnovAge Holding Corp. INNV

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$989.7M
▲ 15.9% YoY
$-2.5M
$50.4M
▲ 89.5% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

InnovAge Holding Corp. provides all-inclusive, capitated care to high-cost seniors, many of whom are dual-eligible. As of June 30, 2025, the Company served approximately 7,740 PACE participants and operated 20 PACE centers across California, Colorado, Florida, New Mexico, Pennsylvania and Virginia. As of June 30, 2025, it had approximately 2,440 employees, including over 1,600 clinical professionals. InnovAge is headquartered in Denver, Colorado, and manages its business as one reportable segment, PACE. Through its Program of All-Inclusive Care for the Elderly ("PACE"), it fulfills medical and ancillary services for seniors, including in-home care services, in-center services such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities, transportation to and from the PACE center and third-party medical appointments, and care management. It directly contracts with government payors, such as Medicare and Medicaid, and does not rely on third-party administrative organizations or health plans. InnovAge Holding Corp. and certain wholly owned subsidiaries were formed as for-profit corporations effective May 13, 2016, to purchase the outstanding common stock of Total Community Options, Inc., which was formed in May 2007. In connection with its initial public offering in March 2021, it changed the name of the company from TCO Group Holdings, Inc. to InnovAge Holding Corp.

Written from the business description in InnovAge Holding Corp.'s annual report to the U.S. Securities and Exchange Commission, filed 9 September 2025. Every sentence was checked against that document before publication.

Growth

USD 989.7M
Revenue, FY2025 · full 7-year series below
Revenue $M Net income $M
FY2025 · Revenue 989.7 · Net income -2.5
400M800M
201920222025
Compound annual growth
+12.9%
+9.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +9.2% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−0 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 0.3% · Net -0.1%
5%-2%-4%-6%
201920222025
ROE
FY2025 · ROE -1.1%
10%20%-10%-20%
201920222025
Three returns, three denominators.

Each USD of equity lost 1 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 50.4
20M40M-20M-40M
201920222025
Net buybacks $M Dividends $M
FY2020 · Dividends 9.5 · Net buybacks 77.6
40M80MDividendsNet buybacks
2020

Total assetsUSD 557.4M
EquityUSD 235.6M
CashUSD 97.9M
Gross debtUSD 48.1M
Net debtUSD -49.8M
Current ratio1.05×

The company holds more cash than debt.

The 7-year record

7 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
INNV, 7-year financial record
Metric 2025202420232022202120202019
Revenue $B1.00.90.80.70.70.60.6
Operating income $B0.0−0.0−0.0−0.0−0.0−0.00.1
EBITDA $B0.0−0.0−0.0−0.00.0−0.00.1
Income tax $B0.00.00.0−0.00.00.00.0
Net income $B−0.0−0.0−0.0−0.0−0.0−0.00.0
Free cash flow $B0.10.0−0.0−0.0−0.0−0.00.0
EPS, diluted $−0.02−0.22−0.16−0.30−0.05−0.360.19
Dividend / sh $◌◌◌◌◌◌◌
Payout %—————−22—
ROE %−1.1−12.0−7.5−12.9−2.0−20.226.0
Shares out B0.140.140.140.14◌◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures · 5 divergences in 33 reconciliationsAUDITED

Reconciled in 2 of the 7 fiscal years we could check. 5 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 24 checks were skipped: the balance sheet is not tagged before 2019. 12 checks were skipped: EPS is not tagged before 2019. 12 checks were skipped: revenue is not tagged before 2019.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures5 divergent
ActivityServices-Health Services
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsJune 30
SEC categorysmaller reporting company
Data on record since2019

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