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Innovage Holding Corp. logo

Innovage Holding Corp.

INNV

NASDAQHealthcareMedical - Care Facilities

Open in GoAI

Previous close

$10.96

+$0.24 · +2.24%

Aug 21, 4:00 PM ET

Pre-market

$11.27

+$0.31 · +2.83%

Aug 24, 7:33 AM ET

INNV company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

75

Undervalued

Momentum

70

Gaining

Sentiment

50

Mixed

Risk resilience

59

Elevated Risk

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Company profile

Company website

InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in its homes and communities. It manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. The company also offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to and from the PACE center and third-party medical appointments; and care management. It serves participants in the United States; and operates PACE centers in Colorado, California, New Mexico, Pennsylvania, Florida, and Virginia. The company was formerly known as TCO Group Holdings, Inc. and changed its name to InnovAge Holding Corp. in January 2021. InnovAge Holding Corp. was founded in 1989 and is headquartered in Denver, Colorado.

Industry
Medical - Care Facilities
Sector
Healthcare
Headquarters
US
CEO
Patrick Blair
Listed since
Mar 4, 2021
Employees
2,440

Market position

Day range

Current $10.96

52-week range

Current $10.96

Open
$11.49
Previous close
$10.72
Volume
366.08K
1.17× average
Average volume
312.35K
Average daily volume
Market cap
1.49B USD
Beta
0.4
Market reference 1
50-day average
$10.909
+0.47% above average
200-day average
$7.9606
+37.68% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
536.52M USD
P/E (TTM)
-67.78×
P/B (TTM)
6.49×
P/S (TTM)
1.57×
EV / EBITDA
159.49×
Earnings yield
-6.07%
Free cash flow yield
5.33%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
20.75%
Operating margin
3.91%
Net margin
-2.35%
Return on equity
-12.90%
Return on assets
-5.44%
Return on invested capital
-7.36%

Financial health

Debt / equity
0.41×
Current ratio
1.07×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends76%46%16%-15%Gross margin, FY2021: 25.37%Gross margin, FY2022: 19.38%Gross margin, FY2023: 14.72%Gross margin, FY2024: 17.29%Gross margin, FY2025: 68.50%Operating margin, FY2021: 11.73%Operating margin, FY2022: -0.63%Operating margin, FY2023: -7.18%Operating margin, FY2024: -3.03%Operating margin, FY2025: -3.49%Net margin, FY2021: -6.90%Net margin, FY2022: -0.93%Net margin, FY2023: -5.91%Net margin, FY2024: -2.79%Net margin, FY2025: -3.55%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 25.37%. Gross margin FY2022 19.38%. Gross margin FY2023 14.72%. Gross margin FY2024 17.29%. Gross margin FY2025 68.50%. Operating margin FY2021 11.73%. Operating margin FY2022 -0.63%. Operating margin FY2023 -7.18%. Operating margin FY2024 -3.03%. Operating margin FY2025 -3.49%. Net margin FY2021 -6.90%. Net margin FY2022 -0.93%. Net margin FY2023 -5.91%. Net margin FY2024 -2.79%. Net margin FY2025 -3.55%.

Income trends

Revenue

853.7M USD+11.76%

Operating income

−29.76M USD-28.39%

Net income

−30.31M USD-42.06%
Income trends across reported periods944.01M USD582.77M USD221.53M USD−139.7M USDRevenue, FY2021: 637.8M USDRevenue, FY2022: 698.64M USDRevenue, FY2023: 688.09M USDRevenue, FY2024: 763.86M USDRevenue, FY2025: 853.7M USDOperating income, FY2021: 74.82M USDOperating income, FY2022: −4.41M USDOperating income, FY2023: −49.4M USDOperating income, FY2024: −23.18M USDOperating income, FY2025: −29.76M USDNet income, FY2021: −43.99M USDNet income, FY2022: −6.52M USDNet income, FY2023: −40.67M USDNet income, FY2024: −21.34M USDNet income, FY2025: −30.31M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 637.8M USD. Revenue FY2022 698.64M USD. Revenue FY2023 688.09M USD. Revenue FY2024 763.86M USD. Revenue FY2025 853.7M USD. Operating income FY2021 74.82M USD. Operating income FY2022 −4.41M USD. Operating income FY2023 −49.4M USD. Operating income FY2024 −23.18M USD. Operating income FY2025 −29.76M USD. Net income FY2021 −43.99M USD. Net income FY2022 −6.52M USD. Net income FY2023 −40.67M USD. Net income FY2024 −21.34M USD. Net income FY2025 −30.31M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue853.7M USD763.86M USD688.09M USD698.64M USD637.8M USD
Cost of goods sold268.91M USD631.79M USD586.8M USD563.27M USD476.01M USD
Gross profit584.79M USD132.06M USD101.29M USD135.37M USD161.79M USD
Selling, general, and administrative150.28M USD136.29M USD135.26M USD125.85M USD154.57M USD
Operating expenses614.55M USD155.24M USD150.68M USD139.78M USD86.96M USD
Interest expense4.61M USD4.02M USD1.52M USD2.53M USD16.79M USD
Depreciation and amortization19.51M USD18.95M USD15.42M USD13.92M USD12.29M USD
Operating income−29.76M USD−23.18M USD−49.4M USD−4.41M USD74.82M USD
Net income−30.31M USD−21.34M USD−40.67M USD−6.52M USD−43.99M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 4 misses, 3 met estimates
Average EPS surprise
-84.84%
11 comparable reports
Latest EPS result
-0.22
Estimate 0.06 · Miss by 466.67%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.12-0.01-0.13-0.26Q4 '24MetQ1 '25MissQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26Estimate
Q4 2024, reported Nov 5, 2024: actual -0.04, estimate -0.04, surprise 0.00%, Met estimate. Q1 2025, reported Feb 4, 2025: actual -0.1, estimate -0.012, surprise -766.55%, Miss. Q2 2025, reported May 6, 2025: actual -0.08, estimate -0.02, surprise -300.00%, Miss. Q3 2025, reported Sep 9, 2025: actual -0.01, estimate -0.02, surprise +50.00%, Beat. Q4 2025, reported Nov 4, 2025: actual 0.06, estimate 0.01, surprise +500.00%, Beat. Q1 2026, reported Feb 3, 2026: actual 0.08, estimate 0.04, surprise +100.00%, Beat. Q2 2026, reported May 5, 2026: actual -0.22, estimate 0.06, surprise -466.67%, Miss. Q3 2026, reported Sep 8, 2026: actual —, estimate 0.075, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates262.02M239.1M216.18M193.25MQ4 '24BeatQ1 '25MissQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26Estimate
Q4 2024, reported Nov 5, 2024: actual 205.14M USD, estimate 203.33M USD, surprise +0.89%, Beat. Q1 2025, reported Feb 4, 2025: actual 209M USD, estimate 210.18M USD, surprise -0.56%, Miss. Q2 2025, reported May 6, 2025: actual 218.14M USD, estimate 214.12M USD, surprise +1.88%, Beat. Q3 2025, reported Sep 9, 2025: actual 221.42M USD, estimate 219.72M USD, surprise +0.77%, Beat. Q4 2025, reported Nov 4, 2025: actual 236.11M USD, estimate 226.5M USD, surprise +4.24%, Beat. Q1 2026, reported Feb 3, 2026: actual 239.71M USD, estimate 228.36M USD, surprise +4.97%, Beat. Q2 2026, reported May 5, 2026: actual 251.94M USD, estimate 234.34M USD, surprise +7.51%, Beat. Q3 2026, reported Sep 8, 2026: actual —, estimate 238.33M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$13.00

18.61% upside
Past 12 months12-month forecastHigh $13.00Average $13.00Low $13.00

Rating distribution

9 ratings
Strong buy00%
Buy111%
Hold667%
Sell222%
Strong sell00%

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ETFs holding INNV

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
7.56M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
6.15M
Weight
0.01%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
2.84M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
iShares Russell 2000 Growth ETF logoiShares Russell 2000 Growth ETFIWO
Market value
2.21M
Weight
0.01%
AUM
15.16B USD
Expense ratio
0.24%
Price / 1D
$387.37+1.24%
Dimensional - US Small Cap ETF logoDimensional - US Small Cap ETFDFAS
Market value
1.4M
Weight
0.01%
AUM
15.92B USD
Expense ratio
0.26%
Price / 1D
$83.02+0.73%
Vanguard Russell 2000 ETF logoVanguard Russell 2000 ETFVTWO
Market value
1.4M
Weight
0.01%
AUM
17.4B USD
Expense ratio
0.06%
Price / 1D
$121.25+0.74%
Federated Hermes MDT Small Cap Core ETF logoFederated Hermes MDT Small Cap Core ETFFSCC
Market value
1.39M
Weight
0.40%
AUM
309.3M USD
Expense ratio
0.50%
Price / 1D
$35.89+0.79%
Schwab U.S. Small-Cap ETF logoSchwab U.S. Small-Cap ETFSCHA
Market value
1.15M
Weight
0.00%
AUM
23.1B USD
Expense ratio
0.03%
Price / 1D
$34.83+0.52%

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