InnovAge Holding Corp (NAS:INNV)

Q1 2026 InnovAge Holding Corp Earnings Call Transcript

Nov 4, 2025 / 10:00 PM GMT

Release Date Price: $4.84 (+2.11%)

Transcript 10-Q8-K

Key Points

Positve

InnovAge Holding Corp (INNV) reported a 15% increase in total revenue compared to the first quarter of fiscal 2025, reaching $236.1 million.
The company achieved an all-time high census of 7,890 participants, reflecting nearly 2% growth quarter over quarter.
Adjusted EBITDA more than doubled compared to the previous year, reaching $17.6 million.
InnovAge's model demonstrated resilience in a challenging operating environment, with a decline in total participant expense per month.
The company reported positive net income for the first time since 2021, indicating improved financial performance.

Negative

The operating environment remains challenging with lower or declining reimbursement levels and growing regulatory scrutiny.
InnovAge faces competition from Medicare Advantage and special needs plans, which could impact its market positioning.
There are inherent risks and uncertainties in forward-looking statements, which could affect actual results.
The company experienced leadership changes, including the departure of its President and COO, which could impact continuity.
First quarter results should not be annualized due to the small scale of the business and inherent seasonality, indicating potential volatility in future performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

INNV.OQ - InnovAge Holding Corp
Q1 2026 InnovAge Holding Corp Earnings Call
Nov 04, 2025 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the Innovage first quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised.

To withdraw your question, please press 11 again.

Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Ryan Caboda, Director of Investor relations. Please go ahead.

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