InnovAge (INNV) Financials

$2.75 -0.09 (-3.17%)

Closing price 04:00 PM Eastern

Extended Trading

$2.74 -0.01 (-0.36%)

As of 04:05 PM Eastern

Annual Income Statements for InnovAge

This table shows InnovAge's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-6.52	-41	-21
Consolidated Net Income / (Loss)	-7.96	-44	-23
Net Income / (Loss) Continuing Operations	-7.96	-44	-23
Total Pre-Tax Income	-7.24	-51	-22
Total Operating Income	-4.41	-49	-23
Total Gross Profit	518	476	535
Total Revenue	699	688	764
Operating Revenue	699	688	764
Total Cost of Revenue	180	212	229
Operating Cost of Revenue	180	212	229
Total Operating Expenses	523	525	558
Selling, General & Admin Expense	102	116	111
Marketing Expense	24	20	25
Depreciation Expense	14	15	19
Other Operating Expenses / (Income)	383	375	403
Total Other Income / (Expense), net	-2.83	-1.40	1.36
Interest & Investment Income	-2.53	-1.52	-1.18
Other Income / (Expense), net	-0.31	0.12	2.54
Income Tax Expense	0.72	-7.24	1.40
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.44	-2.88	-1.88
Basic Earnings per Share	($0.05)	($0.30)	($0.16)
Weighted Average Basic Shares Outstanding	135.52M	135.59M	135.90M
Diluted Earnings per Share	($0.05)	($0.30)	($0.16)
Weighted Average Diluted Shares Outstanding	135.52M	135.59M	135.90M
Weighted Average Basic & Diluted Shares Outstanding	135.57M	135.88M	135.62M

This table shows InnovAge's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Income / (Loss) Attributable to Common Shareholders	-13	-13	-9.79	-6.63	-11	-10	-3.45	-5.89	-1.70	-4.93	-13
Consolidated Net Income / (Loss)	-14	-14	-11	-7.31	-12	-11	-3.82	-6.18	-2.25	-5.71	-13
Net Income / (Loss) Continuing Operations	-14	-14	-11	-7.31	-12	-11	-3.82	-6.18	-2.25	-5.71	-13
Total Pre-Tax Income	-13	-17	-13	-8.68	-11	-11	-3.73	-6.41	-0.95	-5.31	-13
Total Operating Income	-12	-17	-14	-8.17	-11	-11	-1.79	-5.79	-4.88	-4.90	-13
Total Gross Profit	122	118	116	119	123	127	135	134	139	142	145
Total Revenue	173	171	167	173	177	182	189	193	199	205	209
Operating Revenue	173	171	167	173	177	182	189	193	199	205	209
Total Cost of Revenue	50	54	51	54	53	55	54	59	60	63	64
Operating Cost of Revenue	50	54	51	54	53	55	54	59	60	63	64
Total Operating Expenses	135	134	130	127	134	138	136	140	144	147	157
Selling, General & Admin Expense	27	30	29	28	29	29	25	28	30	28	28
Marketing Expense	5.09	4.41	3.77	5.31	6.13	5.38	5.86	7.18	6.54	6.49	7.70
Depreciation Expense	3.49	3.43	3.66	3.99	4.33	4.27	4.29	5.06	5.33	5.41	5.32
Other Operating Expenses / (Income)	99	96	94	90	95	99	101	100	103	107	108
Impairment Charge	-	-	-	-	-	-	0.00	-	-	-	8.50
Total Other Income / (Expense), net	-0.54	-0.57	0.22	-0.51	-0.55	-0.02	-1.94	-0.62	3.94	-0.41	-0.90
Interest & Investment Income	-	-	-	-	-	-0.66	-2.82	-0.12	-	-1.24	-0.76
Other Income / (Expense), net	0.05	0.04	0.44	-0.10	-0.26	0.64	0.87	0.53	2.38	0.83	-0.16
Income Tax Expense	0.64	-3.47	-2.91	-1.37	0.51	0.23	0.09	-0.22	1.31	0.40	0.03
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.82	-0.63	-0.75	-0.68	-0.82	-0.66	-0.37	-0.30	-0.55	-0.78	-0.27
Basic Earnings per Share	($0.10)	($0.10)	($0.07)	($0.05)	($0.08)	($0.08)	($0.03)	($0.04)	($0.01)	($0.04)	($0.10)
Weighted Average Basic Shares Outstanding	135.52M	135.57M	135.58M	135.60M	135.59M	135.79M	135.89M	135.91M	135.90M	135.77M	135.44M
Diluted Earnings per Share	($0.10)	($0.10)	($0.07)	($0.05)	($0.08)	($0.08)	($0.03)	($0.04)	($0.01)	($0.04)	($0.10)
Weighted Average Diluted Shares Outstanding	135.52M	135.57M	135.58M	135.60M	135.59M	135.79M	135.89M	135.91M	135.90M	135.77M	135.44M
Weighted Average Basic & Diluted Shares Outstanding	135.57M	135.57M	135.60M	135.63M	135.88M	135.88M	135.90M	135.99M	135.62M	135.46M	135.24M

This table details how cash moves in and out of InnovAge's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	-19	-57	-70
Net Cash From Operating Activities	27	20	-37
Net Cash From Continuing Operating Activities	27	20	-37
Net Income / (Loss) Continuing Operations	-7.96	-44	-23
Consolidated Net Income / (Loss)	-7.96	-44	-23
Depreciation Expense	14	15	19
Amortization Expense	0.43	0.43	0.43
Non-Cash Adjustments To Reconcile Net Income	12	8.48	17
Changes in Operating Assets and Liabilities, net	8.66	39	-50
Net Cash From Investing Activities	-40	-70	-26
Net Cash From Continuing Investing Activities	-40	-70	-26
Purchase of Property, Plant & Equipment	-38	-23	-7.91
Acquisitions	-	0.00	-24
Purchase of Investments	-2.00	-46	-2.39
Divestitures	-	0.00	4.84
Sale and/or Maturity of Investments	-	0.00	3.00
Net Cash From Financing Activities	-6.32	-7.90	-7.03
Net Cash From Continuing Financing Activities	-6.32	-7.90	-7.03
Repayment of Debt	-3.79	-3.79	-3.80
Repurchase of Common Equity	-	0.00	-0.18
Other Financing Activities, net	-2.53	-4.10	-3.06
Cash Interest Paid	1.47	4.00	4.06
Cash Income Taxes Paid	0.08	0.01	4.45

This table details how cash moves in and out of InnovAge's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Change in Cash & Equivalents	-15	3.79	-89	22	5.54	-39	-34	0.01	2.85	-18	7.06
Net Cash From Operating Activities	3.24	13	-35	29	13	-33	-9.29	3.51	1.87	-7.52	6.75
Net Cash From Continuing Operating Activities	3.24	13	-35	29	13	-33	-9.29	3.51	1.87	-7.52	6.75
Net Income / (Loss) Continuing Operations	-14	-14	-11	-7.31	-12	-11	-3.82	-6.18	-2.25	-5.71	-13
Consolidated Net Income / (Loss)	-14	-14	-11	-7.31	-12	-11	-3.82	-6.18	-2.25	-5.71	-13
Depreciation Expense	3.49	3.43	3.66	3.99	4.33	4.27	4.29	5.06	5.33	5.41	5.32
Amortization Expense	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11
Non-Cash Adjustments To Reconcile Net Income	2.05	4.23	2.26	1.51	0.48	4.10	7.70	4.99	2.44	2.55	9.11
Changes in Operating Assets and Liabilities, net	11	19	-31	31	20	-30	-18	-0.47	-3.75	-9.87	5.71
Net Cash From Investing Activities	-17	-7.67	-52	-4.70	-5.19	-3.14	-23	-1.06	0.93	-2.79	4.40
Net Cash From Continuing Investing Activities	-17	-7.67	-52	-4.70	-5.19	-3.14	-23	-1.06	0.93	-2.79	4.40
Purchase of Property, Plant & Equipment	-18	-7.67	-6.97	-4.70	-4.03	-2.57	-1.59	-0.45	-3.31	-2.20	-1.34
Purchase of Investments	-	0.00	-45	-	-1.17	-0.57	-0.61	-0.60	-0.60	-0.59	-0.56
Net Cash From Financing Activities	-1.65	-1.67	-1.68	-2.13	-2.42	-2.73	-1.91	-2.44	0.04	-7.62	-4.09
Net Cash From Continuing Financing Activities	-1.65	-1.67	-1.68	-2.13	-2.42	-2.73	-1.91	-2.44	0.04	-7.62	-4.09
Repayment of Debt	-0.95	-0.95	-0.95	-0.95	-0.95	-0.95	-0.95	-0.95	-0.95	-0.95	-0.95
Repurchase of Common Equity	-	-	-	-	-	0.00	-	-	-	-4.82	-1.09
Other Financing Activities, net	-0.70	-0.72	-0.73	-1.19	-1.47	-1.78	-0.96	-1.49	1.17	-1.85	-2.05
Cash Interest Paid	0.02	0.70	1.03	1.10	1.17	0.40	0.85	1.64	1.17	1.18	1.12

This table presents InnovAge's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	556	567	548
Total Current Assets	241	215	173
Cash & Equivalents	184	127	57
Restricted Cash	0.02	0.02	0.01
Short-Term Investments	0.00	46	46
Accounts Receivable	36	24	48
Prepaid Expenses	14	17	19
Current Deferred & Refundable Income Taxes	6.76	0.26	3.32
Plant, Property, & Equipment, net	176	192	193
Total Noncurrent Assets	138	160	181
Long-Term Investments	5.49	5.49	2.65
Goodwill	124	124	140
Intangible Assets	5.86	5.20	4.54
Other Noncurrent Operating Assets	2.81	25	34
Total Liabilities & Shareholders' Equity	556	567	548
Total Liabilities	202	253	248
Total Current Liabilities	105	148	139
Short-Term Debt	3.79	3.80	3.80
Accounts Payable	51	55	55
Other Current Liabilities	51	60	79
Total Noncurrent Liabilities	97	104	109
Long-Term Debt	68	65	61
Capital Lease Obligations	9.44	13	13
Noncurrent Deferred & Payable Income Tax Liabilities	18	6.24	7.46
Other Noncurrent Operating Liabilities	1.13	20	28
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	15	13	22
Total Equity & Noncontrolling Interests	338	302	278
Total Preferred & Common Equity	332	296	269
Total Common Equity	332	296	269
Common Stock	328	332	338
Retained Earnings	4.73	-36	-68
Treasury Stock	-	0.00	-0.18
Noncontrolling Interest	6.10	5.79	8.35

This table presents InnovAge's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Total Assets	585	546	569	546	534	527	528	525
Total Current Assets	243	199	216	196	157	153	159	168
Cash & Equivalents	188	99	122	88	54	54	39	46
Restricted Cash	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.01
Short-Term Investments	-	45	46	47	45	45	47	41
Accounts Receivable	38	39	34	44	43	36	47	50
Prepaid Expenses	12	12	14	16	14	14	23	28
Current Deferred & Refundable Income Taxes	5.01	3.73	0.25	0.26	0.26	3.33	3.32	3.32
Plant, Property, & Equipment, net	181	186	0.00	190	196	191	190	179
Total Noncurrent Assets	161	161	353	159	182	183	179	178
Long-Term Investments	5.49	5.49	5.49	5.49	3.61	3.49	2.65	2.65
Goodwill	124	124	124	124	142	140	140	140
Intangible Assets	5.69	5.53	5.36	5.03	4.87	4.70	4.37	4.21
Other Noncurrent Operating Assets	26	26	218	25	32	35	32	31
Total Liabilities & Shareholders' Equity	585	546	569	546	534	527	528	525
Total Liabilities	244	214	244	241	231	229	237	247
Total Current Liabilities	131	106	138	139	123	122	131	145
Short-Term Debt	3.79	3.79	7.20	3.80	3.80	3.80	3.80	3.80
Accounts Payable	51	49	48	47	52	49	46	58
Other Current Liabilities	53	53	55	61	66	69	82	83
Total Noncurrent Liabilities	112	108	106	102	108	107	106	102
Long-Term Debt	67	67	66	64	63	62	61	60
Capital Lease Obligations	8.79	9.03	-	12	11	9.90	11	8.97
Noncurrent Deferred & Payable Income Tax Liabilities	14	11	5.71	6.46	6.56	6.16	7.86	7.90
Other Noncurrent Operating Liabilities	22	21	35	19	27	29	26	25
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	15	14	13	12	12	12	22	22
Total Equity & Noncontrolling Interests	327	318	312	293	291	287	269	256
Total Preferred & Common Equity	321	312	306	287	286	281	261	248
Total Common Equity	321	312	306	287	286	281	261	248
Common Stock	329	330	331	333	335	337	339	341
Retained Earnings	-8.34	-18	-25	-46	-50	-56	-73	-86
Treasury Stock	-	-	-	-	-	-	-5.00	-6.09
Noncontrolling Interest	6.02	5.95	5.86	5.71	5.64	5.58	8.11	7.89

This table displays calculated financial ratios and metrics derived from InnovAge's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	9.54%	-1.51%	11.01%
EBITDA Growth	161.40%	-446.64%	96.23%
EBIT Growth	83.78%	-945.87%	58.11%
NOPAT Growth	64.29%	-1,021.08%	53.07%
Net Income Growth	82.21%	-447.14%	46.68%
EPS Growth	86.11%	-500.00%	46.67%
Operating Cash Flow Growth	461.71%	-25.88%	-282.34%
Free Cash Flow Firm Growth	61.71%	59.36%	-927.86%
Invested Capital Growth	6.02%	-11.28%	25.19%
Revenue Q/Q Growth	0.18%	0.59%	3.04%
EBITDA Q/Q Growth	-69.99%	5.48%	88.51%
EBIT Q/Q Growth	-125.83%	2.17%	29.65%
NOPAT Q/Q Growth	-123.12%	2.76%	20.72%
Net Income Q/Q Growth	-166.96%	3.41%	29.55%
EPS Q/Q Growth	-145.45%	6.25%	30.43%
Operating Cash Flow Q/Q Growth	-18.60%	95.93%	-44.02%
Free Cash Flow Firm Q/Q Growth	0.00%	58.82%	-6.81%
Invested Capital Q/Q Growth	0.41%	-3.50%	0.33%
Profitability Metrics	-	-	-
Gross Margin	74.20%	69.15%	70.05%
EBITDA Margin	1.38%	-4.86%	-0.16%
Operating Margin	-0.63%	-7.18%	-3.03%
EBIT Margin	-0.67%	-7.16%	-2.70%
Profit (Net Income) Margin	-1.14%	-6.33%	-3.04%
Tax Burden Percent	109.99%	85.74%	106.43%
Interest Burden Percent	153.62%	103.09%	105.72%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-1.29%	-14.94%	-6.62%
ROIC Less NNEP Spread (ROIC-NNEP)	2.85%	-6.22%	4.60%
Return on Net Nonoperating Assets (RNNOA)	-0.94%	1.91%	-0.93%
Return on Equity (ROE)	-2.24%	-13.03%	-7.56%
Cash Return on Invested Capital (CROIC)	-7.14%	-2.99%	-28.99%
Operating Return on Assets (OROA)	-0.87%	-8.78%	-3.70%
Return on Assets (ROA)	-1.46%	-7.76%	-4.17%
Return on Common Equity (ROCE)	-2.10%	-12.25%	-6.95%
Return on Equity Simple (ROE_SIMPLE)	-2.40%	-14.70%	-8.62%
Net Operating Profit after Tax (NOPAT)	-3.08	-35	-16
NOPAT Margin	-0.44%	-5.03%	-2.12%
Net Nonoperating Expense Percent (NNEP)	-4.15%	-8.73%	-11.22%
Cost of Revenue to Revenue	25.80%	30.85%	29.95%
SG&A Expenses to Revenue	14.55%	16.81%	14.58%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	74.83%	76.33%	73.08%
Earnings before Interest and Taxes (EBIT)	-4.71	-49	-21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	9.64	-33	-1.26
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.79	3.43	2.51
Price to Tangible Book Value (P/TBV)	2.93	6.10	5.41
Price to Revenue (P/Rev)	0.85	1.48	0.88
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.07	4.31	2.49
Enterprise Value to Revenue (EV/Rev)	0.73	1.36	0.89
Enterprise Value to EBITDA (EV/EBITDA)	52.53	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.55	46.38	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.23	0.26	0.26
Long-Term Debt to Equity	0.22	0.25	0.25
Financial Leverage	-0.33	-0.31	-0.20
Leverage Ratio	1.53	1.68	1.81
Compound Leverage Factor	2.35	1.73	1.92
Debt to Total Capital	18.71%	20.62%	20.65%
Short-Term Debt to Total Capital	0.87%	0.96%	1.00%
Long-Term Debt to Total Capital	17.84%	19.66%	19.64%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	4.91%	4.67%	8.09%
Common Equity to Total Capital	76.37%	74.72%	71.27%
Debt to EBITDA	8.45	-2.45	-61.97
Net Debt to EBITDA	-11.25	2.91	21.78
Long-Term Debt to EBITDA	8.05	-2.33	-58.95
Debt to NOPAT	-26.41	-2.36	-4.81
Net Debt to NOPAT	35.18	2.81	1.69
Long-Term Debt to NOPAT	-25.18	-2.25	-4.57
Altman Z-Score	3.30	3.40	2.80
Noncontrolling Interest Sharing Ratio	6.29%	5.97%	7.98%
Liquidity Ratios	-	-	-
Current Ratio	2.29	1.45	1.25
Quick Ratio	2.09	1.33	1.09
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-17	-6.91	-71
Operating Cash Flow to CapEx	71.40%	86.65%	-466.24%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00
Efficiency Ratios	-	-	-
Asset Turnover	1.29	1.23	1.37
Accounts Receivable Turnover	20.40	22.84	21.09
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	4.38	3.74	3.97
Accounts Payable Turnover	4.35	4.02	4.14
Days Sales Outstanding (DSO)	17.89	15.98	17.31
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	83.97	90.70	88.06
Cash Conversion Cycle (CCC)	-66.08	-74.72	-70.75
Capital & Investment Metrics	-	-	-
Invested Capital	245	218	272
Invested Capital Turnover	2.93	2.97	3.12
Increase / (Decrease) in Invested Capital	14	-28	55
Enterprise Value (EV)	506	939	678
Market Capitalization	594	1,017	674
Book Value per Share	$2.45	$2.18	$1.98
Tangible Book Value per Share	$1.49	$1.23	$0.92
Total Capital	435	397	378
Total Debt	81	82	78
Total Long-Term Debt	78	78	74
Net Debt	-108	-97	-27
Capital Expenditures (CapEx)	38	23	7.91
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-45	-103	-64
Debt-free Net Working Capital (DFNWC)	139	71	38
Net Working Capital (NWC)	136	67	35
Net Nonoperating Expense (NNE)	4.88	8.98	7.00
Net Nonoperating Obligations (NNO)	-108	-97	-27
Total Depreciation and Amortization (D&A)	14	16	19
Debt-free, Cash-free Net Working Capital to Revenue	-6.44%	-14.96%	-8.44%
Debt-free Net Working Capital to Revenue	19.96%	10.26%	5.02%
Net Working Capital to Revenue	19.42%	9.71%	4.52%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.05)	($0.30)	($0.16)
Adjusted Weighted Average Basic Shares Outstanding	135.52M	135.59M	135.90M
Adjusted Diluted Earnings per Share	($0.05)	($0.30)	($0.16)
Adjusted Weighted Average Diluted Shares Outstanding	135.52M	135.59M	135.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	135.57M	135.88M	135.62M
Normalized Net Operating Profit after Tax (NOPAT)	-3.08	-35	-16
Normalized NOPAT Margin	-0.44%	-5.03%	-2.12%
Pre Tax Income Margin	-1.04%	-7.38%	-2.86%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-0.77%

This table displays calculated financial ratios and metrics derived from InnovAge's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.73%	-1.07%	-4.50%	-2.72%	2.32%	6.58%	12.80%	11.90%	12.74%	12.42%	10.64%
EBITDA Growth	-163.07%	-189.42%	-248.35%	-59.93%	22.28%	56.25%	136.84%	97.63%	143.40%	125.51%	-308.92%
EBIT Growth	-215.41%	-248.35%	-544.01%	-25.97%	8.91%	39.18%	93.12%	36.30%	77.66%	59.67%	-1,295.50%
NOPAT Growth	-240.20%	-238.84%	-776.41%	-22.42%	11.36%	35.45%	86.95%	29.09%	55.37%	54.32%	-603.42%
Net Income Growth	-314.28%	-279.68%	-1,053.62%	-131.48%	11.35%	19.98%	63.77%	15.40%	81.21%	47.91%	-253.08%
EPS Growth	-266.67%	-266.67%	-800.00%	-150.00%	20.00%	20.00%	57.14%	20.00%	87.50%	50.00%	-233.33%
Operating Cash Flow Growth	-65.79%	-36.15%	-418.72%	486.74%	305.52%	-351.28%	73.53%	-87.93%	-85.76%	77.21%	172.66%
Free Cash Flow Firm Growth	0.00%	92.29%	80.73%	154.16%	188.66%	-46.35%	55.44%	-483.51%	-391.03%	-52.73%	146.79%
Invested Capital Growth	6.02%	2.20%	14.93%	-7.69%	-11.28%	7.33%	6.95%	20.42%	25.19%	13.72%	-6.40%
Revenue Q/Q Growth	-2.54%	-0.95%	-2.20%	3.04%	2.51%	3.17%	3.51%	2.21%	3.28%	2.88%	1.88%
EBITDA Q/Q Growth	-233.51%	-49.76%	27.33%	55.94%	-62.07%	15.70%	161.19%	-106.17%	3,063.64%	-50.44%	-601.03%
EBIT Q/Q Growth	-87.27%	-34.75%	20.10%	37.52%	-35.42%	10.04%	90.96%	-88.61%	52.51%	-62.39%	-212.90%
NOPAT Q/Q Growth	-85.01%	-34.48%	17.61%	40.29%	-33.96%	2.06%	83.35%	-224.54%	15.69%	-0.25%	-156.45%
Net Income Q/Q Growth	-328.50%	-1.23%	23.01%	30.69%	-64.10%	8.62%	65.14%	-61.84%	63.55%	-153.33%	-136.27%
EPS Q/Q Growth	-400.00%	0.00%	30.00%	28.57%	-60.00%	0.00%	62.50%	-33.33%	75.00%	-300.00%	-150.00%
Operating Cash Flow Q/Q Growth	143.14%	304.78%	-367.52%	182.79%	-54.77%	-350.82%	71.82%	137.74%	-46.61%	-501.28%	189.85%
Free Cash Flow Firm Q/Q Growth	6.44%	26.78%	-162.94%	130.06%	53.18%	-220.87%	19.95%	-158.76%	-16.24%	36.57%	124.52%
Invested Capital Q/Q Growth	0.41%	-7.25%	14.62%	-13.53%	-3.50%	12.21%	14.21%	-2.63%	0.33%	1.94%	-6.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	70.80%	68.72%	69.32%	68.73%	69.82%	69.72%	71.24%	69.40%	69.84%	69.10%	69.35%
EBITDA Margin	-5.03%	-7.61%	-5.65%	-2.42%	-3.82%	-3.12%	1.85%	-0.05%	1.47%	0.71%	-3.49%
Operating Margin	-7.14%	-9.70%	-8.17%	-4.73%	-6.19%	-5.87%	-0.95%	-3.00%	-2.45%	-2.39%	-6.01%
EBIT Margin	-7.11%	-9.68%	-7.90%	-4.79%	-6.33%	-5.52%	-0.48%	-2.73%	-1.25%	-1.98%	-6.08%
Profit (Net Income) Margin	-7.83%	-8.00%	-6.30%	-4.24%	-6.78%	-6.01%	-2.02%	-3.20%	-1.13%	-2.78%	-6.46%
Tax Burden Percent	104.98%	79.79%	78.36%	84.27%	104.40%	102.11%	102.49%	96.50%	238.01%	107.61%	100.25%
Interest Burden Percent	104.85%	103.64%	101.68%	104.90%	102.60%	106.56%	409.22%	121.64%	37.85%	130.59%	105.85%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-14.66%	-21.02%	-16.16%	-9.65%	-12.88%	-12.19%	-1.77%	-6.27%	-5.35%	-5.04%	-12.57%
ROIC Less NNEP Spread (ROIC-NNEP)	-10.50%	-19.41%	-15.25%	-8.22%	-8.66%	-8.23%	3.64%	-2.91%	-7.21%	1.14%	10.32%
Return on Net Nonoperating Assets (RNNOA)	3.47%	7.07%	4.63%	2.64%	2.67%	2.22%	-0.55%	0.59%	1.46%	-0.14%	-0.73%
Return on Equity (ROE)	-11.19%	-13.95%	-11.53%	-7.01%	-10.21%	-9.97%	-2.31%	-5.67%	-3.88%	-5.18%	-13.30%
Cash Return on Invested Capital (CROIC)	-7.14%	-12.34%	-28.05%	-7.14%	-2.99%	-19.99%	-14.91%	-26.76%	-28.99%	-17.50%	-0.68%
Operating Return on Assets (OROA)	-9.14%	-11.95%	-9.86%	-5.82%	-7.76%	-6.83%	-0.64%	-3.69%	-1.72%	-2.90%	-9.27%
Return on Assets (ROA)	-10.06%	-9.89%	-7.86%	-5.14%	-8.31%	-7.43%	-2.70%	-4.33%	-1.55%	-4.08%	-9.83%
Return on Common Equity (ROCE)	-10.49%	-13.09%	-10.79%	-6.59%	-9.60%	-9.37%	-2.18%	-5.34%	-3.57%	-4.76%	-12.22%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-9.14%	-13.13%	-14.72%	0.00%	-14.21%	-11.94%	-11.72%	0.00%	-6.89%	-11.12%
Net Operating Profit after Tax (NOPAT)	-8.64	-12	-9.58	-5.72	-7.66	-7.50	-1.25	-4.06	-3.42	-3.43	-8.79
NOPAT Margin	-5.00%	-6.79%	-5.72%	-3.31%	-4.33%	-4.11%	-0.66%	-2.10%	-1.71%	-1.67%	-4.21%
Net Nonoperating Expense Percent (NNEP)	-4.16%	-1.61%	-0.91%	-1.43%	-4.22%	-3.96%	-5.40%	-3.35%	1.87%	-6.17%	-22.89%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-0.34%	-	-	-	-2.67%
Cost of Revenue to Revenue	29.20%	31.28%	30.68%	31.27%	30.18%	30.28%	28.76%	30.60%	30.16%	30.90%	30.65%
SG&A Expenses to Revenue	15.85%	17.63%	17.21%	16.02%	16.39%	15.86%	13.37%	14.27%	14.84%	13.42%	13.45%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	77.94%	78.42%	77.49%	73.47%	76.00%	75.60%	72.19%	72.40%	72.29%	71.49%	75.35%
Earnings before Interest and Taxes (EBIT)	-12	-17	-13	-8.27	-11	-10	-0.91	-5.27	-2.50	-4.06	-13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-8.70	-13	-9.47	-4.17	-6.76	-5.70	3.49	-0.10	2.93	1.45	-7.29
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.79	2.49	3.12	3.53	3.43	2.83	2.86	2.15	2.51	3.12	2.14
Price to Tangible Book Value (P/TBV)	2.93	4.18	5.35	6.12	6.10	5.15	5.86	4.42	5.41	6.98	5.10
Price to Revenue (P/Rev)	0.85	1.14	1.41	1.58	1.48	1.16	1.13	0.81	0.88	1.03	0.66
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.07	3.10	3.54	4.44	4.31	3.16	2.90	2.19	2.49	2.99	2.09
Enterprise Value to Revenue (EV/Rev)	0.73	1.01	1.34	1.46	1.36	1.10	1.12	0.80	0.89	1.06	0.68
Enterprise Value to EBITDA (EV/EBITDA)	52.53	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	140.90	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.55	35.44	0.00	96.94	46.38	0.00	0.00	0.00	0.00	0.00	117.99
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.23	0.23	0.24	0.22	0.26	0.26	0.26	0.25	0.26	0.26	0.26
Long-Term Debt to Equity	0.22	0.22	0.23	0.20	0.25	0.25	0.25	0.24	0.25	0.25	0.25
Financial Leverage	-0.33	-0.36	-0.30	-0.32	-0.31	-0.27	-0.15	-0.20	-0.20	-0.12	-0.07
Leverage Ratio	1.53	1.59	1.58	1.63	1.68	1.75	1.70	1.76	1.81	1.80	1.82
Compound Leverage Factor	1.60	1.65	1.60	1.71	1.72	1.86	6.97	2.14	0.69	2.35	1.93
Debt to Total Capital	18.71%	18.98%	19.30%	18.29%	20.62%	20.75%	20.53%	20.31%	20.65%	20.57%	20.70%
Short-Term Debt to Total Capital	0.87%	0.90%	0.92%	1.81%	0.96%	0.99%	1.00%	1.01%	1.00%	1.04%	1.08%
Long-Term Debt to Total Capital	17.84%	18.08%	18.38%	16.48%	19.66%	19.76%	19.53%	19.29%	19.64%	19.53%	19.62%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	4.91%	4.93%	4.86%	4.85%	4.67%	4.64%	4.58%	4.59%	8.09%	8.13%	8.42%
Common Equity to Total Capital	76.37%	76.09%	75.83%	76.86%	74.72%	74.62%	74.89%	75.11%	71.27%	71.30%	70.88%
Debt to EBITDA	8.45	-4.45	-2.35	-2.06	-2.45	-3.06	-5.96	-6.94	-61.97	12.77	-14.87
Net Debt to EBITDA	-11.25	6.34	2.10	2.83	2.91	2.33	1.84	2.45	21.78	-2.21	3.48
Long-Term Debt to EBITDA	8.05	-4.24	-2.24	-1.86	-2.33	-2.91	-5.67	-6.59	-58.95	12.13	-14.10
Debt to NOPAT	-26.41	-3.50	-2.30	-2.05	-2.36	-2.62	-3.54	-3.71	-4.81	-6.20	-3.68
Net Debt to NOPAT	35.18	4.98	2.06	2.82	2.81	2.00	1.09	1.31	1.69	1.07	0.86
Long-Term Debt to NOPAT	-25.18	-3.33	-2.19	-1.85	-2.25	-2.50	-3.37	-3.53	-4.57	-5.88	-3.49
Altman Z-Score	3.25	3.27	4.06	3.92	3.62	3.26	3.40	2.88	2.91	3.39	2.57
Noncontrolling Interest Sharing Ratio	6.29%	6.15%	6.44%	6.00%	5.97%	5.97%	5.90%	5.85%	7.98%	7.99%	8.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.29	1.85	1.88	1.57	1.45	1.41	1.27	1.25	1.25	1.21	1.16
Quick Ratio	2.09	1.72	1.73	1.47	1.33	1.29	1.16	1.11	1.09	1.01	0.94
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-23	-17	-43	13	20	-24	-19	-50	-58	-37	9.06
Operating Cash Flow to CapEx	17.92%	171.24%	-504.12%	619.01%	326.73%	-1,282.96%	-586.00%	776.11%	56.67%	-341.64%	502.83%
Free Cash Flow to Firm to Interest Expense	0.00	-27.40	-194.82	32.25	0.00	0.00	0.00	-49.01	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	21.77	-157.48	71.79	0.00	0.00	0.00	3.43	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	9.06	-188.71	60.19	0.00	0.00	0.00	2.99	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.29	1.24	1.25	1.21	1.23	1.24	1.33	1.35	1.37	1.47	1.52
Accounts Receivable Turnover	20.40	21.15	19.15	20.70	22.84	17.12	17.56	20.98	21.09	17.30	17.31
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	4.38	4.31	4.08	0.00	3.74	3.77	3.78	0.00	3.97	4.14	4.31
Accounts Payable Turnover	4.35	4.59	4.57	4.65	4.02	4.38	4.28	4.57	4.14	5.11	4.47
Days Sales Outstanding (DSO)	17.89	17.26	19.06	17.64	15.98	21.32	20.79	17.39	17.31	21.10	21.09
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	83.97	79.60	79.81	78.48	90.70	83.40	85.21	79.80	88.06	71.46	81.70
Cash Conversion Cycle (CCC)	-66.08	-62.34	-60.75	-60.85	-74.72	-62.08	-64.42	-62.41	-70.75	-50.37	-60.61
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	245	227	261	225	218	244	279	271	272	278	261
Invested Capital Turnover	2.93	3.10	2.83	2.91	2.97	2.97	2.67	2.98	3.12	3.01	2.99
Increase / (Decrease) in Invested Capital	14	4.90	34	-19	-28	17	18	46	55	34	-18
Enterprise Value (EV)	506	704	922	1,001	939	771	809	594	678	830	545
Market Capitalization	594	797	973	1,082	1,017	814	815	603	674	814	532
Book Value per Share	$2.45	$2.36	$2.30	$2.26	$2.18	$2.11	$2.10	$2.07	$1.98	$1.92	$1.83
Tangible Book Value per Share	$1.49	$1.41	$1.34	$1.30	$1.23	$1.16	$1.02	$1.00	$0.92	$0.86	$0.77
Total Capital	435	421	411	399	397	385	381	374	378	366	351
Total Debt	81	80	79	73	82	80	78	76	78	75	73
Total Long-Term Debt	78	76	76	66	78	76	74	72	74	71	69
Net Debt	-108	-114	-71	-100	-97	-61	-24	-27	-27	-13	-17
Capital Expenditures (CapEx)	18	7.67	6.97	4.70	4.03	2.57	1.59	0.45	3.31	2.20	1.34
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-45	-73	-48	-82	-103	-74	-61	-64	-64	-55	-60
Debt-free Net Working Capital (DFNWC)	139	115	97	85	71	61	38	35	38	31	27
Net Working Capital (NWC)	136	112	93	78	67	57	34	31	35	27	23
Net Nonoperating Expense (NNE)	4.89	2.08	0.97	1.59	4.34	3.46	2.57	2.13	-1.16	2.28	4.70
Net Nonoperating Obligations (NNO)	-108	-114	-71	-100	-97	-61	-24	-27	-27	-13	-17
Total Depreciation and Amortization (D&A)	3.60	3.54	3.77	4.10	4.44	4.38	4.40	5.17	5.44	5.52	5.43
Debt-free, Cash-free Net Working Capital to Revenue	-6.44%	-10.47%	-6.94%	-12.00%	-14.96%	-10.60%	-8.48%	-8.69%	-8.44%	-6.95%	-7.45%
Debt-free Net Working Capital to Revenue	19.96%	16.55%	14.09%	12.49%	10.26%	8.73%	5.22%	4.71%	5.02%	3.94%	3.32%
Net Working Capital to Revenue	19.42%	16.00%	13.54%	11.44%	9.71%	8.19%	4.69%	4.19%	4.52%	3.46%	2.85%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.10)	($0.10)	($0.07)	($0.05)	($0.08)	($0.08)	($0.03)	($0.04)	($0.01)	($0.04)	($0.10)
Adjusted Weighted Average Basic Shares Outstanding	135.52M	135.57M	135.58M	135.60M	135.59M	135.79M	135.89M	135.91M	135.90M	135.77M	135.44M
Adjusted Diluted Earnings per Share	($0.10)	($0.10)	($0.07)	($0.05)	($0.08)	($0.08)	($0.03)	($0.04)	($0.01)	($0.04)	($0.10)
Adjusted Weighted Average Diluted Shares Outstanding	135.52M	135.57M	135.58M	135.60M	135.59M	135.79M	135.89M	135.91M	135.90M	135.77M	135.44M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	135.57M	135.57M	135.60M	135.63M	135.88M	135.88M	135.90M	135.99M	135.62M	135.46M	135.24M
Normalized Net Operating Profit after Tax (NOPAT)	-8.64	-12	-9.58	-5.72	-7.66	-7.50	-1.25	-4.06	-3.42	-3.43	-2.84
Normalized NOPAT Margin	-5.00%	-6.79%	-5.72%	-3.31%	-4.33%	-4.11%	-0.66%	-2.10%	-1.71%	-1.67%	-1.36%
Pre Tax Income Margin	-7.46%	-10.03%	-8.04%	-5.03%	-6.50%	-5.88%	-1.97%	-3.32%	-0.47%	-2.59%	-6.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-27.47	-59.35	-20.42	0.00	0.00	0.00	-5.15	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	-19.27	-42.94	-14.12	0.00	0.00	0.00	-3.97	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	-40.19	-90.59	-32.02	0.00	0.00	0.00	-5.60	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	-31.99	-74.18	-25.72	0.00	0.00	0.00	-4.41	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.77%	-27.83%	-22.04%

Frequently Asked Questions About InnovAge's Financials

When does InnovAge's fiscal year end?

According to the most recent income statement we have on file, InnovAge's financial year ends in June. Their financial year 2024 ended on June 30, 2024.

How has InnovAge's net income changed over the last 2 years?

InnovAge's net income appears to be on an upward trend, with a most recent value of -$23.22 million in 2024, rising from -$7.96 million in 2022. The previous period was -$43.55 million in 2023.

What is InnovAge's operating income?

InnovAge's total operating income in 2024 was -$23.18 million, based on the following breakdown:

Total Gross Profit: $535.07 million
Total Operating Expenses: $558.25 million

How has InnovAge revenue changed over the last 2 years?

Over the last 2 years, InnovAge's total revenue changed from $698.64 million in 2022 to $763.86 million in 2024, a change of 9.3%.

How much debt does InnovAge have?

InnovAge's total liabilities were at $247.85 million at the end of 2024, a 1.9% decrease from 2023, and a 22.8% increase since 2022.

How much cash does InnovAge have?

In the past 2 years, InnovAge's cash and equivalents has ranged from $56.95 million in 2024 to $184.43 million in 2022, and is currently $56.95 million as of their latest financial filing in 2024.

How has InnovAge's book value per share changed over the last 2 years?

Over the last 2 years, InnovAge's book value per share changed from 2.45 in 2022 to 1.98 in 2024, a change of -19.3%.

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This page (NASDAQ:INNV) was last updated on 4/17/2025 by MarketBeat.com Staff

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InnovAge (INNV) Financials

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InnovAge (INNV) Financials

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