Innovage Holding Corp. Stock Price, News & Analysis

InnovAge (Nasdaq: INNV), the largest provider of the Program of All-inclusive Care for the Elderly (PACE), is actively engaging with lawmakers to promote and protect senior care services. PACE, available in 33 states and DC, offers comprehensive healthcare services including in-home care, transportation, primary and specialty care, meals, therapy, dental, vision, and social activities for seniors who might otherwise require nursing home care.

The program has demonstrated significant benefits, with research showing 44% fewer preventable hospitalizations compared to nursing home residents. Additionally, PACE generates approximately $6,000 annual savings per person in Medicaid spending compared to nursing homes. The Federal Department of Health and Human Services recognized PACE as a 'high performer' in its 2021 report, highlighting its effectiveness in providing comprehensive senior care while maintaining cost efficiency.

InnovAge (Nasdaq: INNV), a leading provider of comprehensive healthcare programs through the Program of All-inclusive Care for the Elderly (PACE), has announced its participation in the upcoming KeyBanc Capital Markets Healthcare Forum. The company's CEO Patrick Blair and CFO Ben Adams will be presenting at the virtual event on March 18, 2025, at 3:45 p.m. PT. Investors and interested parties can access the live webcast through the investor relations section of InnovAge's website.

InnovAge (NASDAQ: INNV) reported its fiscal Q2 2025 financial results, showing mixed performance. Total revenue increased 10.6% to $209.0 million compared to $188.9 million in Q2 2024. However, the company's loss before income taxes widened significantly to $13.5 million, up from $3.7 million in the prior year period.

Key metrics include a census growth to approximately 7,480 participants from 6,780 in Q2 2024. Center-level Contribution Margin increased 10.3% to $37.1 million, while Adjusted EBITDA decreased to $5.9 million from $6.9 million, with margin declining to 2.8% from 3.7%. The company ended the quarter with $46.1 million in cash, $40.8 million in short-term investments, and $78.3 million in debt.

For fiscal year 2025, InnovAge maintained its guidance with projected total revenues between $815-865 million and Adjusted EBITDA of $24-31 million.

InnovAge Holding Corp. (Nasdaq: INNV) announced it will release its 2025 fiscal second quarter financial results on Tuesday, February 4, 2025, after market close.

The company will also host a conference call at 5 p.m. E.T. to review the results. A live audio webcast of the call will be available on InnovAge's website, and a replay will be accessible shortly after the call's completion.

InnovAge is a leader in providing comprehensive healthcare programs to frail, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE). The company aims to enable older adults to age independently at home while improving care quality and reducing high-cost care utilization. As of September 30, 2024, InnovAge served approximately 7,210 participants across 20 centers in six states.

For more information, visit the company's website or contact Investor Relations at Ryan Kubota (rkubota@innovage.com) or Media Relations at Lara Hazenfield (lhazenfield@innovage.com).

InnovAge Holding Corp. (Nasdaq: INNV), the largest Program of All-inclusive Care for the Elderly (PACE) provider in the U.S., marks its 35th anniversary of transforming senior care. Since its 1989 founding, InnovAge has expanded from one pilot location to 20 centers across 6 states, serving approximately 7,210 current participants and a total of 24,440 seniors throughout its history.

PACE, available in 33 states and D.C., offers comprehensive care for seniors who might otherwise require nursing home care, funded primarily through Medicare and Medicaid. The company continues to enhance its services with new technologies, PACE-customized electronic medical records, in-house dental and behavioral health care, Medicaid enrollment assistance, and 24/7 support. With proposed federal legislation including the PACE Anytime and Elizabeth Dole Acts, InnovAge aims to expand access to more eligible seniors.

InnovAge (INNV) reported fiscal Q1 2025 results showing improved financial performance. Total revenue increased 12.4% to $205.1 million compared to $182.5 million in Q1 2024. Net loss improved to $5.7 million ($0.04 per share) from $11.0 million ($0.08 per share) year-over-year. Adjusted EBITDA grew significantly to $6.5 million from $1.3 million, with margin expanding to 3.2%. Census grew to 7,210 participants from 6,580. The company maintains its FY2025 guidance with projected revenue of $815-865 million and Adjusted EBITDA of $24-31 million.

InnovAge Holding Corp (Nasdaq: INNV) announces key leadership changes effective November 4th, 2024. Michael Scarbrough joins as President and Chief Operating Officer, replacing Christine Bent who is stepping down. Scarbrough brings over 30 years of healthcare experience, most recently serving as CEO of Optum at Home. Additionally, Maria Lozzano is promoted to President, Pharmacy Services. Lozzano previously served as Senior Vice President and Chief Business Development Operations Officer at InnovAge. The company, which manages care for dual-eligible seniors through PACE programs, currently serves approximately 7,020 participants across 20 centers in six states.

InnovAge Holding Corp. (Nasdaq: INNV), the largest provider of Program of All-inclusive Care for the Elderly (PACE) by participant numbers, plans to showcase its clinical, operational, and business transformations at the 2024 National PACE Association (NPA) Conference. Under CEO Patrick Blair, InnovAge has implemented innovations to improve clinical operations and enhance employee experience across its 20 centers.

Key developments include:

• A new operating model strengthening collaboration between operations, physicians, and nurses
• Partnership with Epic to develop PACE-specific EHR workflows, analytics, and integrations
• Implementation of auditing and quality assurance programs

InnovAge executives will participate in several panel discussions at the NPA Conference, covering topics such as care communication, Medicare risk adjustment, CMS audits, and behavioral health integration.

InnovAge Holding Corp. (NASDAQ: INNV) has announced an increase in its share repurchase program. The Board of Directors has authorized an additional $2.5 million for common stock repurchases, on top of the $5.0 million initially approved in June 2024. Since the program's inception, InnovAge has already repurchased 837,372 shares with an aggregate market value of $5.0 million.

The expanded program allows for open market purchases, including under Rule 10b-18 safe harbor, privately negotiated transactions, and other compliant methods. Timing and volume of repurchases will depend on various factors, including stock price and market conditions. The company retains the flexibility to suspend or discontinue the program at any time.