InnovAge Reports Improved Adjusted EBITDA Margin Amid Fiscal Recovery
InnovAge Holding Corp (NASDAQ:INNV) reported fiscal 2026 revenue of $989.7 million, a 15.9% increase year-over-year. The company's non-GAAP adjusted EBITDA rose to $94.6 million from $34.5 million in the prior period, with an improved margin of 9.6%. This marks significant progress compared to its previous financial struggles and GAAP net loss narrowing to just $0.7 million for fiscal 2026. The company's PACE model has driven growth through increased participant numbers, reaching approximately 8,230 from 7,740 a year earlier. This expansion helped improve the center-level contribution margin by five percentage points to 23%. The fourth quarter also delivered $9.8 million in consolidated GAAP net income, reinforcing signs of recovery. Looking ahead, InnovAge provided fiscal 2027 guidance for revenue between $1.05 billion and $1.085 billion with adjusted EBITDA expected to grow by up to 16.3%. However, the company did not forecast GAAP net income due to uncertainties in reconciling its non-GAAP metrics.
Tickers: $INNV
Topics: adjusted EBITDA PACE model revenue growth senior care