InnovAge Holding Corp
NASDAQ:INNV
InnovAge Holding Corp
InnovAge Holding Corp. engages in the provision of a healthcare delivery platform. The company is headquartered in Denver, Colorado and currently employs 1,800 full-time employees. The company went IPO on 2021-03-04. The firm delivers its patient-centered care through the InnovAge Platform. InnovAge Platform is focused on frail, dual-eligible seniors, and it serve participants primarily through Program of All-inclusive Care for the Elderly (PACE). InnovAge Platform provides complete, coordinated healthcare to enable its frail, nursing home-eligible seniors to live independently in their homes and communities. The InnovAge Platform consists of Interdisciplinary Care Teams and community-based care delivery model. The firm's subsidiaries include TCO Intermediate Holdings, Inc., Total Community Options, Inc., InnovAge Investment Holdings, LLC, TCO Eastern Holdings, LLC, InnovAge Pennsylvania LIFE, LLC, InnovAge Virginia PACE Roanoke Valley, LLC, InnovAge Virginia PACE II, LLC, InnovAge Virginia PACE Charlottesville, LLC, Total Longterm Care Solutions, LLC, Total Longterm Care, Inc. and InnovAge Greater Colorado PACE-Loveland, LLC.
InnovAge Holding Corp. engages in the provision of a healthcare delivery platform. The company is headquartered in Denver, Colorado and currently employs 1,800 full-time employees. The company went IPO on 2021-03-04. The firm delivers its patient-centered care through the InnovAge Platform. InnovAge Platform is focused on frail, dual-eligible seniors, and it serve participants primarily through Program of All-inclusive Care for the Elderly (PACE). InnovAge Platform provides complete, coordinated healthcare to enable its frail, nursing home-eligible seniors to live independently in their homes and communities. The InnovAge Platform consists of Interdisciplinary Care Teams and community-based care delivery model. The firm's subsidiaries include TCO Intermediate Holdings, Inc., Total Community Options, Inc., InnovAge Investment Holdings, LLC, TCO Eastern Holdings, LLC, InnovAge Pennsylvania LIFE, LLC, InnovAge Virginia PACE Roanoke Valley, LLC, InnovAge Virginia PACE II, LLC, InnovAge Virginia PACE Charlottesville, LLC, Total Longterm Care Solutions, LLC, Total Longterm Care, Inc. and InnovAge Greater Colorado PACE-Loveland, LLC.
Revenue Growth: InnovAge reported second quarter revenue of $239.7 million, up 14.7% year-over-year, driven by growth in member months and higher capitation rates.
Profitability Improvement: Adjusted EBITDA reached $22.2 million with a margin of 9.2% for the quarter, meeting the company’s intermediate-term target for the first time.
Guidance Raised: Full-year 2026 outlook was increased, with expected revenue of $925–950 million and adjusted EBITDA of $70–75 million.
Operational Progress: Strong results were attributed to improvements in Medicaid redeterminations, medical cost management, center efficiency, and SG&A discipline.
Regulatory Update: Management noted PACE’s partial insulation from Medicare rate changes due to the frailty adjuster and phase-in of the new risk adjustment model.
Census Growth: Participant census grew 7.1% year-over-year, with member months in the quarter up 7.9% year-over-year, exceeding expectations.
