INNV

EX-99.1

2 innv-20261103xexx991.htm

EX-99.1

Document

Exhibit 99.1

INNOVAGE ANNOUNCES FINANCIAL RESULTS FOR THE

FISCAL FIRST QUARTER ENDED SEPTEMBER 30, 2026

DENVER, CO., November 3, 2026 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (“InnovAge” or the “Company”) (Nasdaq: INNV), an industry leader in providing comprehensive healthcare programs to frail, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE), today announced financial results for its fiscal first quarter ended September 30, 2026.

“We are pleased with our strong stat to fiscal 2027, as continued census growth along with disciplined clinical and operational execution drove strong financial performance,” said Patrick Blair, Chief Executive Officer of InnovAge. “Our first quarter results reinforce the progress we have made over the past serval years and our confidence in the long-term potential of the business. As we move forward, we remain focused on strengthening our capabilities, supporting continued growth, and positioning InnovAge to serve more participants over time.”

Financial Results

Three Months Ended September 30,

20262025

in thousands, except percentages and per share amounts

Total revenues$264,757 $236,105

Income Before Income Taxes20,037 7,916

Net Income20,878 7,669

Net Income margin7.9 %3.2 %

Net Income Attributable to InnovAge Holding Corp.19,553 8,019

Net Income per share - basic and diluted$0.14 $0.06

Center-level Contribution Margin(1)

$63,587 $51,356

Adjusted EBITDA(1) $31,251 $17,642

Adjusted EBITDA margin(1) 11.8 %7.5 %

Fiscal First Quarter 2027 Financial Performance

•Total revenues of $264.8 million, increased approximately 12.1% compared to $236.1 million in the first quarter of fiscal year 2026

•Income Before Income Taxes of $20.0 million increased approximately 153.1%, compared to a Income Before Income Taxes of $7.9 million in the first quarter of fiscal year 2026

•Income Before Income Taxes as a percent of revenue was 7.6%, an increase of 4.2 percentage points, compared to Income Before Income Tax as a percent of revenue of 3.4% in the first quarter of fiscal year 2026

•Center-level Contribution Margin(1) of $63.6 million, increased 23.8% compared to $51.4 million in the first quarter of fiscal year 2026

•Center-level Contribution Margin(1) as a percent of revenue was 24.0%, an increase of 2.2 percentage points compared to 21.8% in the first quarter of fiscal year 2026

•Net Income of $20.9 million, compared to Net Income of $7.7 million in the first quarter of fiscal year 2026

•Net Income margin of 7.9%, an increase of 4.6 percentage points, compared to a Net Income margin of 3.2% in the first quarter of fiscal year 2026

•Net Income attributable to InnovAge Holding Corp. of $19.6 million, or earnings per share of $0.14, compared to Net Income attributable to InnovAge Holding Corp. of $8.0 million, or earnings per share of $0.06 in the first quarter of fiscal year 2026

•Adjusted EBITDA(1) of $31.3 million, an increase of $13.6 million, compared to Adjusted EBITDA of $17.6 million in the first quarter of fiscal year 2026

•Adjusted EBITDA margin(1) of 11.8%, an increase of 4.3 percentage points, compared to 7.5% in the first quarter of fiscal year 2026

•Census of approximately 8,420 participants compared to 7,890 participants in the first quarter of fiscal year 2026

•Member months of approximately 25,070 compared to 23,500 in first quarter of fiscal year 2026

•Ended the first quarter of fiscal year 2027 with $119.3 million in cash and cash equivalents plus $43.7 million in short-term investments, and $61.4 million in debt on the balance sheet, representing debt under the Company’s senior secured term loan, revolving credit facility and finance lease obligations

(1) Center-level Contribution Margin and Center-level Contribution Margin as a percentage of revenue, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures. For more details and for a definition and reconciliation of these non-GAAP measures to the most closely comparable GAAP measures for the periods indicated, see “Note Regarding Use of Non-GAAP Financial Measures” and “Reconciliation of GAAP and Non-GAAP Measures” below.

Full Fiscal Year 2027 Financial Guidance

Based on information as of today, November 3, 2026, InnovAge is confirming the following financial guidance for fiscal year 2027.

LowHigh

dollars in millions

Census8,625 8,850

Total Member Months(1) 101,000 102,500

Total revenues$1,050 $1,085

Adjusted EBITDA(2) $105 $115

Expected results and estimates may be impacted by factors outside the Company’s control, and actual results may be materially different from this guidance. See “Forward-Looking Statements - Safe Harbor” included herein.

(1) We define Total Member Months as the total number of participants multiplied by the number of months within the respective reporting period in which each participant was enrolled in our program. Management believes this i

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