InnovAge Reports Q4 2026 Earnings with Strong Revenue Growth but Faces Legal Costs
InnovAge (INNV) posted strong financial results for its fiscal year ending June 30, 2026. Total revenue reached $989.7 million, up 15.9% from the previous year due to increased member months and higher capitation rates. Adjusted EBITDA surged by 174.2% to $94.6 million as a result of improved business durability and favorable rate developments. Despite these gains, InnovAge reported a net loss of $700,000 for the year due primarily to one-time legal accruals totaling $52.4 million. In Q4 alone, revenue rose 18.3% year-over-year to $262.0 million and net income reached $9.8 million driven by Medicare risk adjustment reconciliation. Looking ahead, InnovAge provided FY 2027 guidance with projected total revenue between $1.05 billion and $1.085 billion and adjusted EBITDA of $105–$115 million. The company also noted ongoing challenges in Medicaid rate finalization for California and Colorado, which account for 70% of its census.
Tickers: $INNV
Topics: Adjusted EBITDA Census Expansion Cost Management Net Loss/Income Revenue Growth