InnovAge 2026: Revenue $264.76M, Net income $19.55M, EPS $0.14— 10-Q Summary

What happened

InnovAge reported revenue of $264.76 million and net income of $19.55 million for 2026, up 12.1% and 143.8% from the prior year. Diluted earnings per share, or profit per share, was $0.14 versus $0.06.

Confirmed

Global impact / market context

Net income grew much faster than revenue, which means more of each dollar of sales reached the bottom line, helped by lower external provider costs per participant even as care-center costs rose. Stronger profit per share can support investor confidence and fund future center conversions.

Analyst inference

Growth came from higher capitation revenue, which means fixed payments per member, and a 6.7% rise in participant census to about 8,420 across California, Colorado and Florida. However, paused new PACE applications, a program for older adults needing care, in California and Colorado may delay expansion.

Analyst inference

What to watch

1. InnovAge began converting two Pennsylvania centers to alternate care settings, with completion expected in the second quarter. Watch whether that conversion is finished on schedule and whether it changes center-level care costs. Confirmed
2. External provider costs per participant fell 0.4% while center-level care costs rose on higher wages, staffing and service expenses. Watch whether wage and staffing pressure keeps lifting costs faster than revenue growth. Analyst inference
3. California and Colorado paused new PACE applications and expansions, which may delay the company's expansion plans. Watch for any update on when those states reopen applications or how InnovAge adjusts growth spending. Proposed

Evidence

• Original source link unavailable