Welcome to our dedicated page for Innovage Holding news (Ticker: INNV), a resource for investors and traders seeking the latest updates and insights on Innovage Holding stock.
InnovAge Holding Corp (INNV) operates a specialized healthcare platform delivering integrated care for seniors through the PACE program. This page aggregates official company announcements, financial disclosures, and operational updates for investors and industry observers.
Access timely press releases covering earnings reports, care model innovations, regulatory developments, and strategic partnerships. Our curated collection helps stakeholders track INNV's performance in senior care markets while monitoring implementation of their capitated payment model.
Key updates include Medicare/Medicaid compliance changes, center expansions, clinical quality improvements, and leadership announcements. Bookmark this page for centralized access to verified InnovAge communications, maintained with neutral reporting standards.
InnovAge Holding Corp. (Nasdaq: INNV) reported financial results for its fiscal second quarter ending December 31, 2022. Total revenues were $167.5 million, down 4.5% from $175.4 million year-over-year. The company faced a net loss of $10.5 million, contrasting with a net income of $1.1 million in the same period last year. Adjusted EBITDA also fell to negative $2.0 million, compared to $14.8 million previously. The Center-level Contribution Margin decreased significantly by 45.4%, now at $22.6 million. As of the quarter's end, InnovAge held $99.5 million in cash and equivalents, with $84.6 million in debt, reflecting ongoing financial challenges.
InnovAge Holding Corp. (Nasdaq: INNV) is set to announce its fiscal second quarter financial results on February 7, 2023, after market close. This will be followed by a conference call at 5 p.m. E.T. which will be made available via live audio webcast on the company’s website. InnovAge specializes in managing care for high-cost, dual-eligible seniors through the PACE program. As of September 30, 2022, the company serves approximately 6,540 participants across 18 centers in five states, aiming to improve care quality while minimizing high-cost care settings.
InnovAge Holding Corp. (Nasdaq: INNV) announced the release of enrollment sanctions for its six Colorado centers by the Centers for Medicare & Medicaid Services (CMS) and the Colorado Department of Healthcare Policy and Finance (HCPF). This allows the company to resume enrolling eligible Colorado seniors into its Program of All-Inclusive Care for the Elderly (PACE) across its centers. InnovAge previously faced sanctions, but following corrective actions and monitoring, it aims to enhance care quality. The company had also received a sanction release for its Sacramento center in November 2022 and is awaiting further actions from California's health authorities.
InnovAge Holding Corp. (Nasdaq: INNV), a leader in healthcare delivery for dual-eligible seniors, announced that CEO Patrick Blair will present at the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 3:45 p.m. PT. The presentation will be available via a live webcast on the company's investor relations page. InnovAge specializes in the Program of All-Inclusive Care for the Elderly (PACE), aiming to improve care quality while minimizing high-cost care usage. As of September 30, 2022, InnovAge served about 6,540 participants across 18 centers in five states.
InnovAge Holding Corp. (Nasdaq: INNV) announced the release of sanctions by the Centers for Medicare & Medicaid Services (CMS) for its Sacramento, California center, allowing it to resume normal Medicare enrollment. However, the California Department of Health Care Services (DHCS) continues its audit, which will impact Medicaid enrollment. CEO Patrick Blair emphasized ongoing improvements in operations and expressed commitment to providing quality care for eligible seniors.
InnovAge Holding Corp. (Nasdaq: INNV) reported a fiscal Q1 2023 revenue of $171.2 million, down 1.1% from $173.1 million in Q1 2022. The net loss increased to $13.7 million from a net income of $7.6 million year-over-year, resulting in a loss per share of $(0.10). The company's Center-level Contribution Margin dropped 49.4% to $21.4 million. Adjusted EBITDA was negative $3.8 million, a steep decrease of $22 million compared to the previous year. As of September 30, 2022, InnovAge had $188.2 million in cash and $84.8 million in debt.
InnovAge Holding Corp. (Nasdaq: INNV) will announce its fiscal Q1 2023 financial results on November 8, 2022, post-market close. Following this, a conference call will be held at 5 p.m. E.T. to discuss the results. Interested parties can access a live audio webcast via InnovAge's website, and a replay will also be available post-call. InnovAge specializes in managing care for high-cost, dual-eligible seniors, serving approximately 6,650 participants across 18 centers in five states as of June 30, 2022.
InnovAge Holding Corp. (Nasdaq: INNV) reported its fiscal fourth quarter and full year results for 2022, with total revenues of $698.6 million, marking a 9.5% increase from 2021. Despite the revenue growth, the company faced a net loss of $8 million, improving from a $44.7 million loss in 2021. Adjusted EBITDA was $34.3 million, down significantly from $85.3 million in the previous year. The census decreased from approximately 6,850 to 6,650 participants. The company ended the year with $184.4 million in cash and equivalents and $86.4 million in debt.
InnovAge Holding Corp. (Nasdaq: INNV) will release its fiscal 2022 fourth quarter financial results on September 13, 2022, after market close. A conference call to discuss the results will be held at 5 p.m. E.T. Participants can access a live audio webcast on the company's website, with a replay available shortly after. InnovAge focuses on managing care for high-cost, dual-eligible seniors, serving approximately 6,800 participants across 18 centers in five states as of March 31, 2022.
InnovAge has appointed Kathy Andreasen as Chief People Officer, effective August 29, 2022. With over 25 years of experience in HR across various sectors, she aims to enhance the company’s organizational culture and talent management. InnovAge, a leader in healthcare for frail seniors through the PACE program, currently serves around 6,800 participants in five states. The company is focused on value-based care, partnering with Medicare and Medicaid, to ensure seniors can live independently while improving care quality and reducing costs.
