Senior care provider InnovAge's Q1 revenue beats as participants increase
INNV•InnovAge's fiscal Q1 revenue rose 12% year over year to $264.8 million, beating the $257.09 million consensus, while net income more than doubled to $20.9 million. The company expects fiscal 2027 revenue of $1.05 billion to $1.09 billion.
1. Quarterly results
InnovAge reported fiscal Q1 revenue of $264.8 million, up 12% year over year and above analyst expectations of $257.09 million. Net income was $20.9 million, and adjusted EBITDA margin increased to 11.8% from 7.5%.
2. Fiscal 2027 outlook
The company expects fiscal 2027 revenue of $1.05 billion to $1.09 billion and adjusted EBITDA of $105 million to $115 million. It projects a census of 8,625 to 8,850 participants. CEO Patrick Blair said participant growth contributed to higher revenue and profitability; the company also cited operational execution and higher center-level contribution margin.
