InnovAge Reports Q1 2027 Revenue Growth and Improved EBITDA Margins
InnovAge (INNV) reported strong financial results for the first quarter of fiscal 2027, highlighted by a 12.1% year-over-year revenue increase to $264.8 million. This growth was primarily driven by an expansion in member months across California, Colorado, and Florida, alongside higher capitation rates. The company also saw significant margin expansion, with adjusted EBITDA rising to $31.3 million from $17.6 million in the prior year's first quarter. Despite rising costs of care due to increased headcount and wage rates, InnovAge demonstrated operational discipline through a reduction in corporate, general, and administrative expenses. Management reaffirmed its full-year fiscal 2027 guidance for revenue between $1.05 billion and $1.085 billion and adjusted EBITDA between $105 million and $115 million. Looking ahead, the company expects a modest increase in Medicare rates starting January 2027.
Tickers: $AAPL $AMZN $GOOG $INNV $META $MSFT $NVDA $SPCX $TSLA
Topics: EBITDA margin member expansion net income revenue growth