{"id":684861,"date":"2022-09-13T16:08:37","date_gmt":"2022-09-13T20:08:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/innovage-announces-financial-results-for-the-fiscal-year-and-fourth-quarter-ended-june-30-2022\/"},"modified":"2022-09-13T16:08:37","modified_gmt":"2022-09-13T20:08:37","slug":"innovage-announces-financial-results-for-the-fiscal-year-and-fourth-quarter-ended-june-30-2022","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/innovage-announces-financial-results-for-the-fiscal-year-and-fourth-quarter-ended-june-30-2022\/","title":{"rendered":"InnovAge Announces Financial Results for the Fiscal Year and Fourth Quarter Ended June 30, 2022"},"content":{"rendered":"
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DENVER, Sept. 13, 2022 (GLOBE NEWSWIRE) — InnovAge Holding Corp. (the \u201cCompany\u201d or \u201cInnovAge\u201d) (Nasdaq: INNV), a market leading healthcare delivery platform for high-cost, dual-eligible seniors, announced financial results for its fiscal fourth quarter and full year ended June 30, 2022.<\/p>\n

\u201cWe ended the fiscal year with a census of approximately 6,650 participants and generated $698.6 million of revenue. Our results reflect the ongoing transformational journey at InnovAge and the core investments we are making in our business,\u201d said Patrick Blair, President and Chief Executive Officer of InnovAge. \u201cWe have made measurable progress on our near-term operational improvements and strengthening our enterprise capabilities, and I am confident that we are on the right path to achieve our long-term aspirations for the Company.\u201d<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n Financial Results<\/u>
\n <\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Year Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n June\u00a030,\u00a02022<\/strong>\n <\/td>\n\u00a0<\/td>\n\n June\u00a030,\u00a02021<\/strong>\n <\/td>\n\u00a0<\/td>\n\n June\u00a030,\u00a02022<\/strong>\n <\/td>\n\u00a0<\/td>\n\n June\u00a030,\u00a02021<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n in thousands, except percentages and per share amounts<\/em>\n <\/td>\n<\/tr>\n
Total revenues<\/td>\n$<\/td>\n172,860<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n171,616<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n698,640<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n637,800<\/td>\n\u00a0<\/td>\n<\/tr>\n
Center-level Contribution Margin(1)<\/sup><\/td>\n\u00a0<\/td>\n23,631<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48,033<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n135,372<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n174,080<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Income (Loss)<\/td>\n\u00a0<\/td>\n(13,532<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,315<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,960<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(44,740<\/td>\n)<\/td>\n<\/tr>\n
Net Income (Loss) margin<\/td>\n\u00a0<\/td>\n(7.8<\/td>\n)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1.1<\/td>\n)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7.0<\/td>\n)%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Income (Loss) Attributable to InnovAge Holding Corp.<\/td>\n\u00a0<\/td>\n(12,709<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,474<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,521<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(43,986<\/td>\n)<\/td>\n<\/tr>\n
Net income (Loss) per share – basic and diluted<\/td>\n$<\/td>\n(0.09<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n0.05<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.05<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.36<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBITDA(1)<\/sup><\/td>\n$<\/td>\n(642<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n19,348<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n34,253<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n85,333<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBITDA margin(1)<\/sup><\/td>\n\u00a0<\/td>\n(0.4<\/td>\n)%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.4<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

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Fiscal Year 2022 Financial Performance<\/u>
\n <\/strong>\n <\/p>\n