InnovAge Inc., a provider of home-based care services, reported strong fiscal 2026 results Tuesday, surpassing its revenue and profitability targets and driving a post-market-close surge in shares. The company’s total revenue climbed to $989.7 million, a 15.9% year-over-year increase, while adjusted EBITDA expanded by 175% to $94.6 million, pushing its margin to 9.6%—ahead of schedule for its long-term goal of exceeding 10%. Net loss narrowed sharply to $0.7 million, down from $35.3 million in fiscal 2025, with diluted net loss per share improving to $0.02 from $0.22 the prior year. The company’s center-level contribution margin rose 48.2% year-over-year to $227.8 million, representing 23.0% of revenue, up from 18.0% in fiscal 2025. Cash reserves stood at $141.3 million, while total debt was $63.3 million as of the end of the period.
Operational growth was robust, with the company operating 20 centers and serving 8,230 participants, a 6.3% increase from the prior year. Fourth-quarter member months rose 6.6% year-over-year.
For fiscal 2027, InnovAge expects revenue to range between $1.05 billion and $1.085 billion, adjusted EBITDA between $105 million and $115 million, and an adjusted EBITDA margin of 10.0% to 10.6%. Participant growth is projected at 5% to 7.5%, with de novo losses expected to decline to $0.4 million to $0.8 million from $10.6 million in fiscal 2026.
The company’s leadership highlighted fiscal 2026 as an “exceptional year” and a milestone in its transition to InnovAge 3.0, a phase focused on scaling capabilities and building a more sophisticated value-based care platform. CEO Patrick Blair emphasized quality and compliance as non-negotiable.
Shares of InnovAge (INNV) fell 2.14% in regular trading to close at $10.52, but surged 9.03% in after-hours trading to $11.47, reflecting investor enthusiasm. The stock’s 52-week range spans $3.818 to $12.64, with a financial health score of 3.03/5 from InvestingPro.
