InnovAge Q4 revenue beats estimates, driven by higher participant census

• InnovAge sees fiscal 2027 revenue between $1.05 bln and $1.085 bln
• Company expects fiscal 2027 adjusted EBITDA of $105 mln to $115 mln
• InnovAge projects fiscal 2027 census of 8,625 to 8,850 participants
• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
• Wall Street's median 12-month price target for InnovAge Holding Corp is $10.00, about 7% below its September 4 closing price of $10.75
• The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 20 three months ago

• US senior care provider's fiscal Q4 revenue grew and beat analyst expectations
• Adjusted EPS for fiscal Q4 was positive, but no analyst estimate available
• Company reduced full-year net loss and improved adjusted EBITDA and margin

Key details

Higher revenue was driven by increased participant census and capitation revenue. Center-level contribution margin rose to $227.8 mln, up 48.3% from the prior year, and margin increased to 23% of revenue.