InnovAge (INNV) Financials

$4.10 -0.14 (-3.30%)

Closing price 04:00 PM Eastern

Extended Trading

$4.10 0.00 (0.00%)

As of 04:04 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	2024	2023	2022
Period end date	6/30/2024	6/30/2023	6/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-21	-41	-6.52
Consolidated Net Income / (Loss)	-23	-44	-7.96
Net Income / (Loss) Continuing Operations	-23	-44	-7.96
Total Pre-Tax Income	-22	-51	-7.24
Total Operating Income	-23	-49	-4.41
Total Gross Profit	535	476	518
Total Revenue	764	688	699
Operating Revenue	764	688	699
Total Cost of Revenue	229	212	180
Operating Cost of Revenue	229	212	180
Total Operating Expenses	558	525	523
Selling, General & Admin Expense	111	116	102
Marketing Expense	25	20	24
Depreciation Expense	19	15	14
Other Operating Expenses / (Income)	403	375	383
Total Other Income / (Expense), net	1.36	-1.40	-2.83
Interest & Investment Income	-1.18	-1.52	-2.53
Other Income / (Expense), net	2.54	0.12	-0.31
Income Tax Expense	1.40	-7.24	0.72
Net Income / (Loss) Attributable to Noncontrolling Interest	-1.88	-2.88	-1.44
Basic Earnings per Share	($0.16)	($0.30)	($0.05)
Weighted Average Basic Shares Outstanding	135.90M	135.59M	135.52M
Diluted Earnings per Share	($0.16)	($0.30)	($0.05)
Weighted Average Diluted Shares Outstanding	135.90M	135.59M	135.52M
Weighted Average Basic & Diluted Shares Outstanding	135.62M	135.88M	135.57M

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

Metric	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-13	-4.93	-1.70	-5.89	-3.45	-10	-11	-6.63	-9.79	-13	-13
Consolidated Net Income / (Loss)	-13	-5.71	-2.25	-6.18	-3.82	-11	-12	-7.31	-11	-14	-14
Net Income / (Loss) Continuing Operations	-13	-5.71	-2.25	-6.18	-3.82	-11	-12	-7.31	-11	-14	-14
Total Pre-Tax Income	-13	-5.31	-0.95	-6.41	-3.73	-11	-11	-8.68	-13	-17	-13
Total Operating Income	-13	-4.90	-4.88	-5.79	-1.79	-11	-11	-8.17	-14	-17	-12
Total Gross Profit	145	142	139	134	135	127	123	119	116	118	122
Total Revenue	209	205	199	193	189	182	177	173	167	171	173
Operating Revenue	209	205	199	193	189	182	177	173	167	171	173
Total Cost of Revenue	64	63	60	59	54	55	53	54	51	54	50
Operating Cost of Revenue	64	63	60	59	54	55	53	54	51	54	50
Total Operating Expenses	157	147	144	140	136	138	134	127	130	134	135
Selling, General & Admin Expense	28	28	30	28	25	29	29	28	29	30	27
Marketing Expense	7.70	6.49	6.54	7.18	5.86	5.38	6.13	5.31	3.77	4.41	5.09
Depreciation Expense	5.32	5.41	5.33	5.06	4.29	4.27	4.33	3.99	3.66	3.43	3.49
Other Operating Expenses / (Income)	108	107	103	100	101	99	95	90	94	96	99
Impairment Charge	8.50	-	-	-	0.00	-	-	-	-	-	-
Total Other Income / (Expense), net	-0.90	-0.41	3.94	-0.62	-1.94	-0.02	-0.55	-0.51	0.22	-0.57	-0.54
Interest & Investment Income	-0.76	-1.24	-	-0.12	-2.82	-0.66	-	-	-	-	-
Other Income / (Expense), net	-0.16	0.83	2.38	0.53	0.87	0.64	-0.26	-0.10	0.44	0.04	0.05
Income Tax Expense	0.03	0.40	1.31	-0.22	0.09	0.23	0.51	-1.37	-2.91	-3.47	0.64
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.27	-0.78	-0.55	-0.30	-0.37	-0.66	-0.82	-0.68	-0.75	-0.63	-0.82
Basic Earnings per Share	($0.10)	($0.04)	($0.01)	($0.04)	($0.03)	($0.08)	($0.08)	($0.05)	($0.07)	($0.10)	($0.10)
Weighted Average Basic Shares Outstanding	135.44M	135.77M	135.90M	135.91M	135.89M	135.79M	135.59M	135.60M	135.58M	135.57M	135.52M
Diluted Earnings per Share	($0.10)	($0.04)	($0.01)	($0.04)	($0.03)	($0.08)	($0.08)	($0.05)	($0.07)	($0.10)	($0.10)
Weighted Average Diluted Shares Outstanding	135.44M	135.77M	135.90M	135.91M	135.89M	135.79M	135.59M	135.60M	135.58M	135.57M	135.52M
Weighted Average Basic & Diluted Shares Outstanding	135.24M	135.46M	135.62M	135.99M	135.90M	135.88M	135.88M	135.63M	135.60M	135.57M	135.57M

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	2024	2023	2022
Period end date	6/30/2024	6/30/2023	6/30/2022
Net Change in Cash & Equivalents	-70	-57	-19
Net Cash From Operating Activities	-37	20	27
Net Cash From Continuing Operating Activities	-37	20	27
Net Income / (Loss) Continuing Operations	-23	-44	-7.96
Consolidated Net Income / (Loss)	-23	-44	-7.96
Depreciation Expense	19	15	14
Amortization Expense	0.43	0.43	0.43
Non-Cash Adjustments To Reconcile Net Income	17	8.48	12
Changes in Operating Assets and Liabilities, net	-50	39	8.66
Net Cash From Investing Activities	-26	-70	-40
Net Cash From Continuing Investing Activities	-26	-70	-40
Purchase of Property, Plant & Equipment	-7.91	-23	-38
Acquisitions	-24	0.00	-
Purchase of Investments	-2.39	-46	-2.00
Divestitures	4.84	0.00	-
Sale and/or Maturity of Investments	3.00	0.00	-
Net Cash From Financing Activities	-7.03	-7.90	-6.32
Net Cash From Continuing Financing Activities	-7.03	-7.90	-6.32
Repayment of Debt	-3.80	-3.79	-3.79
Repurchase of Common Equity	-0.18	0.00	-
Other Financing Activities, net	-3.06	-4.10	-2.53
Cash Interest Paid	4.06	4.00	1.47
Cash Income Taxes Paid	4.45	0.01	0.08

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	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Net Change in Cash & Equivalents	7.06	-18	2.85	0.01	-34	-39	5.54	22	-89	3.79	-15
Net Cash From Operating Activities	6.75	-7.52	1.87	3.51	-9.29	-33	13	29	-35	13	3.24
Net Cash From Continuing Operating Activities	6.75	-7.52	1.87	3.51	-9.29	-33	13	29	-35	13	3.24
Net Income / (Loss) Continuing Operations	-13	-5.71	-2.25	-6.18	-3.82	-11	-12	-7.31	-11	-14	-14
Consolidated Net Income / (Loss)	-13	-5.71	-2.25	-6.18	-3.82	-11	-12	-7.31	-11	-14	-14
Depreciation Expense	5.32	5.41	5.33	5.06	4.29	4.27	4.33	3.99	3.66	3.43	3.49
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	9.11	2.55	2.44	4.99	7.70	4.10	0.48	1.51	2.26	4.23	2.05
Changes in Operating Assets and Liabilities, net	5.71	-9.87	-3.75	-0.47	-18	-30	20	31	-31	19	11
Net Cash From Investing Activities	4.40	-2.79	0.93	-1.06	-23	-3.14	-5.19	-4.70	-52	-7.67	-17
Net Cash From Continuing Investing Activities	4.40	-2.79	0.93	-1.06	-23	-3.14	-5.19	-4.70	-52	-7.67	-17
Purchase of Property, Plant & Equipment	-1.34	-2.20	-3.31	-0.45	-1.59	-2.57	-4.03	-4.70	-6.97	-7.67	-18
Purchase of Investments	-0.56	-0.59	-0.60	-0.60	-0.61	-0.57	-1.17	-	-45	0.00	-
Net Cash From Financing Activities	-4.09	-7.62	0.04	-2.44	-1.91	-2.73	-2.42	-2.13	-1.68	-1.67	-1.65
Net Cash From Continuing Financing Activities	-4.09	-7.62	0.04	-2.44	-1.91	-2.73	-2.42	-2.13	-1.68	-1.67	-1.65
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	-1.09	-4.82	-	-	-	0.00	-	-	-	-	-
Other Financing Activities, net	-2.05	-1.85	1.17	-1.49	-0.96	-1.78	-1.47	-1.19	-0.73	-0.72	-0.70
Cash Interest Paid	1.12	1.18	1.17	1.64	0.85	0.40	1.17	1.10	1.03	0.70	0.02

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	2024	2023	2022
Period end date	6/30/2024	6/30/2023	6/30/2022
Total Assets	548	567	556
Total Current Assets	173	215	241
Cash & Equivalents	57	127	184
Restricted Cash	0.01	0.02	0.02
Short-Term Investments	46	46	0.00
Accounts Receivable	48	24	36
Prepaid Expenses	19	17	14
Current Deferred & Refundable Income Taxes	3.32	0.26	6.76
Plant, Property, & Equipment, net	193	192	176
Total Noncurrent Assets	181	160	138
Long-Term Investments	2.65	5.49	5.49
Goodwill	140	124	124
Intangible Assets	4.54	5.20	5.86
Other Noncurrent Operating Assets	34	25	2.81
Total Liabilities & Shareholders' Equity	548	567	556
Total Liabilities	248	253	202
Total Current Liabilities	139	148	105
Short-Term Debt	3.80	3.80	3.79
Accounts Payable	55	55	51
Other Current Liabilities	79	60	51
Total Noncurrent Liabilities	109	104	97
Long-Term Debt	61	65	68
Capital Lease Obligations	13	13	9.44
Noncurrent Deferred & Payable Income Tax Liabilities	7.46	6.24	18
Other Noncurrent Operating Liabilities	28	20	1.13
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	22	13	15
Total Equity & Noncontrolling Interests	278	302	338
Total Preferred & Common Equity	269	296	332
Total Common Equity	269	296	332
Common Stock	338	332	328
Retained Earnings	-68	-36	4.73
Treasury Stock	-0.18	0.00	-
Noncontrolling Interest	8.35	5.79	6.10

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	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023
Period end date	12/31/2024	9/30/2024	3/31/2024	12/31/2023	9/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	525	528	527	534	546	569	546	585
Total Current Assets	168	159	153	157	196	216	199	243
Cash & Equivalents	46	39	54	54	88	122	99	188
Restricted Cash	0.01	0.01	0.01	0.02	0.02	0.02	0.02	0.02
Short-Term Investments	41	47	45	45	47	46	45	-
Accounts Receivable	50	47	36	43	44	34	39	38
Prepaid Expenses	28	23	14	14	16	14	12	12
Current Deferred & Refundable Income Taxes	3.32	3.32	3.33	0.26	0.26	0.25	3.73	5.01
Plant, Property, & Equipment, net	179	190	191	196	190	0.00	186	181
Total Noncurrent Assets	178	179	183	182	159	353	161	161
Long-Term Investments	2.65	2.65	3.49	3.61	5.49	5.49	5.49	5.49
Goodwill	140	140	140	142	124	124	124	124
Intangible Assets	4.21	4.37	4.70	4.87	5.03	5.36	5.53	5.69
Other Noncurrent Operating Assets	31	32	35	32	25	218	26	26
Total Liabilities & Shareholders' Equity	525	528	527	534	546	569	546	585
Total Liabilities	247	237	229	231	241	244	214	244
Total Current Liabilities	145	131	122	123	139	138	106	131
Short-Term Debt	3.80	3.80	3.80	3.80	3.80	7.20	3.79	3.79
Accounts Payable	58	46	49	52	47	48	49	51
Other Current Liabilities	83	82	69	66	61	55	53	53
Total Noncurrent Liabilities	102	106	107	108	102	106	108	112
Long-Term Debt	60	61	62	63	64	66	67	67
Capital Lease Obligations	8.97	11	9.90	11	12	-	9.03	8.79
Noncurrent Deferred & Payable Income Tax Liabilities	7.90	7.86	6.16	6.56	6.46	5.71	11	14
Other Noncurrent Operating Liabilities	25	26	29	27	19	35	21	22
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	22	22	12	12	12	13	14	15
Total Equity & Noncontrolling Interests	256	269	287	291	293	312	318	327
Total Preferred & Common Equity	248	261	281	286	287	306	312	321
Total Common Equity	248	261	281	286	287	306	312	321
Common Stock	341	339	337	335	333	331	330	329
Retained Earnings	-86	-73	-56	-50	-46	-25	-18	-8.34
Treasury Stock	-6.09	-5.00	-	-	-	-	-	-
Noncontrolling Interest	7.89	8.11	5.58	5.64	5.71	5.86	5.95	6.02

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

Metric	2024	2023	2022
Period end date	6/30/2024	6/30/2023	6/30/2022
Growth Metrics	-	-	-
Revenue Growth	11.01%	-1.51%	9.54%
EBITDA Growth	96.23%	-446.64%	161.40%
EBIT Growth	58.11%	-945.87%	83.78%
NOPAT Growth	53.07%	-1,021.08%	64.29%
Net Income Growth	46.68%	-447.14%	82.21%
EPS Growth	46.67%	-500.00%	86.11%
Operating Cash Flow Growth	-282.34%	-25.88%	461.71%
Free Cash Flow Firm Growth	-927.86%	59.36%	61.71%
Invested Capital Growth	25.19%	-11.28%	6.02%
Revenue Q/Q Growth	3.04%	0.59%	0.18%
EBITDA Q/Q Growth	88.51%	5.48%	-69.99%
EBIT Q/Q Growth	29.65%	2.17%	-125.83%
NOPAT Q/Q Growth	20.72%	2.76%	-123.12%
Net Income Q/Q Growth	29.55%	3.41%	-166.96%
EPS Q/Q Growth	30.43%	6.25%	-145.45%
Operating Cash Flow Q/Q Growth	-44.02%	95.93%	-18.60%
Free Cash Flow Firm Q/Q Growth	-6.81%	58.82%	0.00%
Invested Capital Q/Q Growth	0.33%	-3.50%	0.41%
Profitability Metrics	-	-	-
Gross Margin	70.05%	69.15%	74.20%
EBITDA Margin	-0.16%	-4.86%	1.38%
Operating Margin	-3.03%	-7.18%	-0.63%
EBIT Margin	-2.70%	-7.16%	-0.67%
Profit (Net Income) Margin	-3.04%	-6.33%	-1.14%
Tax Burden Percent	106.43%	85.74%	109.99%
Interest Burden Percent	105.72%	103.09%	153.62%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-6.62%	-14.94%	-1.29%
ROIC Less NNEP Spread (ROIC-NNEP)	4.60%	-6.22%	2.85%
Return on Net Nonoperating Assets (RNNOA)	-0.93%	1.91%	-0.94%
Return on Equity (ROE)	-7.56%	-13.03%	-2.24%
Cash Return on Invested Capital (CROIC)	-28.99%	-2.99%	-7.14%
Operating Return on Assets (OROA)	-3.70%	-8.78%	-0.87%
Return on Assets (ROA)	-4.17%	-7.76%	-1.46%
Return on Common Equity (ROCE)	-6.95%	-12.25%	-2.10%
Return on Equity Simple (ROE_SIMPLE)	-8.62%	-14.70%	-2.40%
Net Operating Profit after Tax (NOPAT)	-16	-35	-3.08
NOPAT Margin	-2.12%	-5.03%	-0.44%
Net Nonoperating Expense Percent (NNEP)	-11.22%	-8.73%	-4.15%
Cost of Revenue to Revenue	29.95%	30.85%	25.80%
SG&A Expenses to Revenue	14.58%	16.81%	14.55%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	73.08%	76.33%	74.83%
Earnings before Interest and Taxes (EBIT)	-21	-49	-4.71
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1.26	-33	9.64
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	2.51	3.43	1.79
Price to Tangible Book Value (P/TBV)	5.41	6.10	2.93
Price to Revenue (P/Rev)	0.88	1.48	0.85
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)	2.49	4.31	2.07
Enterprise Value to Revenue (EV/Rev)	0.89	1.36	0.73
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	52.53
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)	0.00	46.38	18.55
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.26	0.26	0.23
Long-Term Debt to Equity	0.25	0.25	0.22
Financial Leverage	-0.20	-0.31	-0.33
Leverage Ratio	1.81	1.68	1.53
Compound Leverage Factor	1.92	1.73	2.35
Debt to Total Capital	20.65%	20.62%	18.71%
Short-Term Debt to Total Capital	1.00%	0.96%	0.87%
Long-Term Debt to Total Capital	19.64%	19.66%	17.84%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	8.09%	4.67%	4.91%
Common Equity to Total Capital	71.27%	74.72%	76.37%
Debt to EBITDA	-61.97	-2.45	8.45
Net Debt to EBITDA	21.78	2.91	-11.25
Long-Term Debt to EBITDA	-58.95	-2.33	8.05
Debt to NOPAT	-4.81	-2.36	-26.41
Net Debt to NOPAT	1.69	2.81	35.18
Long-Term Debt to NOPAT	-4.57	-2.25	-25.18
Altman Z-Score	2.80	3.40	3.30
Noncontrolling Interest Sharing Ratio	7.98%	5.97%	6.29%
Liquidity Ratios	-	-	-
Current Ratio	1.25	1.45	2.29
Quick Ratio	1.09	1.33	2.09
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-71	-6.91	-17
Operating Cash Flow to CapEx	-466.24%	86.65%	71.40%
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	1.37	1.23	1.29
Accounts Receivable Turnover	21.09	22.84	20.40
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	3.97	3.74	4.38
Accounts Payable Turnover	4.14	4.02	4.35
Days Sales Outstanding (DSO)	17.31	15.98	17.89
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	88.06	90.70	83.97
Cash Conversion Cycle (CCC)	-70.75	-74.72	-66.08
Capital & Investment Metrics	-	-	-
Invested Capital	272	218	245
Invested Capital Turnover	3.12	2.97	2.93
Increase / (Decrease) in Invested Capital	55	-28	14
Enterprise Value (EV)	678	939	506
Market Capitalization	674	1,017	594
Book Value per Share	$1.98	$2.18	$2.45
Tangible Book Value per Share	$0.92	$1.23	$1.49
Total Capital	378	397	435
Total Debt	78	82	81
Total Long-Term Debt	74	78	78
Net Debt	-27	-97	-108
Capital Expenditures (CapEx)	7.91	23	38
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-64	-103	-45
Debt-free Net Working Capital (DFNWC)	38	71	139
Net Working Capital (NWC)	35	67	136
Net Nonoperating Expense (NNE)	7.00	8.98	4.88
Net Nonoperating Obligations (NNO)	-27	-97	-108
Total Depreciation and Amortization (D&A)	19	16	14
Debt-free, Cash-free Net Working Capital to Revenue	-8.44%	-14.96%	-6.44%
Debt-free Net Working Capital to Revenue	5.02%	10.26%	19.96%
Net Working Capital to Revenue	4.52%	9.71%	19.42%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.16)	($0.30)	($0.05)
Adjusted Weighted Average Basic Shares Outstanding	135.90M	135.59M	135.52M
Adjusted Diluted Earnings per Share	($0.16)	($0.30)	($0.05)
Adjusted Weighted Average Diluted Shares Outstanding	135.90M	135.59M	135.52M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	135.62M	135.88M	135.57M
Normalized Net Operating Profit after Tax (NOPAT)	-16	-35	-3.08
Normalized NOPAT Margin	-2.12%	-5.03%	-0.44%
Pre Tax Income Margin	-2.86%	-7.38%	-1.04%
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	-0.77%	0.00%	0.00%

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

Metric	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022	6/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.64%	12.42%	12.74%	11.90%	12.80%	6.58%	2.32%	-2.72%	-4.50%	-1.07%	0.73%
EBITDA Growth	-308.92%	125.51%	143.40%	97.63%	136.84%	56.25%	22.28%	-59.93%	-248.35%	-189.42%	-163.07%
EBIT Growth	-1,295.50%	59.67%	77.66%	36.30%	93.12%	39.18%	8.91%	-25.97%	-544.01%	-248.35%	-215.41%
NOPAT Growth	-603.42%	54.32%	55.37%	29.09%	86.95%	35.45%	11.36%	-22.42%	-776.41%	-238.84%	-240.20%
Net Income Growth	-253.08%	47.91%	81.21%	15.40%	63.77%	19.98%	11.35%	-131.48%	-1,053.62%	-279.68%	-314.28%
EPS Growth	-233.33%	50.00%	87.50%	20.00%	57.14%	20.00%	20.00%	-150.00%	-800.00%	-266.67%	-266.67%
Operating Cash Flow Growth	172.66%	77.21%	-85.76%	-87.93%	73.53%	-351.28%	305.52%	486.74%	-418.72%	-36.15%	-65.79%
Free Cash Flow Firm Growth	146.79%	-52.73%	-391.03%	-483.51%	55.44%	-46.35%	188.66%	154.16%	80.73%	92.29%	0.00%
Invested Capital Growth	-6.40%	13.72%	25.19%	20.42%	6.95%	7.33%	-11.28%	-7.69%	14.93%	2.20%	6.02%
Revenue Q/Q Growth	1.88%	2.88%	3.28%	2.21%	3.51%	3.17%	2.51%	3.04%	-2.20%	-0.95%	-2.54%
EBITDA Q/Q Growth	-601.03%	-50.44%	3,063.64%	-106.17%	161.19%	15.70%	-62.07%	55.94%	27.33%	-49.76%	-233.51%
EBIT Q/Q Growth	-212.90%	-62.39%	52.51%	-88.61%	90.96%	10.04%	-35.42%	37.52%	20.10%	-34.75%	-87.27%
NOPAT Q/Q Growth	-156.45%	-0.25%	15.69%	-224.54%	83.35%	2.06%	-33.96%	40.29%	17.61%	-34.48%	-85.01%
Net Income Q/Q Growth	-136.27%	-153.33%	63.55%	-61.84%	65.14%	8.62%	-64.10%	30.69%	23.01%	-1.23%	-328.50%
EPS Q/Q Growth	-150.00%	-300.00%	75.00%	-33.33%	62.50%	0.00%	-60.00%	28.57%	30.00%	0.00%	-400.00%
Operating Cash Flow Q/Q Growth	189.85%	-501.28%	-46.61%	137.74%	71.82%	-350.82%	-54.77%	182.79%	-367.52%	304.78%	143.14%
Free Cash Flow Firm Q/Q Growth	124.52%	36.57%	-16.24%	-158.76%	19.95%	-220.87%	53.18%	130.06%	-162.94%	26.78%	6.44%
Invested Capital Q/Q Growth	-6.00%	1.94%	0.33%	-2.63%	14.21%	12.21%	-3.50%	-13.53%	14.62%	-7.25%	0.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.35%	69.10%	69.84%	69.40%	71.24%	69.72%	69.82%	68.73%	69.32%	68.72%	70.80%
EBITDA Margin	-3.49%	0.71%	1.47%	-0.05%	1.85%	-3.12%	-3.82%	-2.42%	-5.65%	-7.61%	-5.03%
Operating Margin	-6.01%	-2.39%	-2.45%	-3.00%	-0.95%	-5.87%	-6.19%	-4.73%	-8.17%	-9.70%	-7.14%
EBIT Margin	-6.08%	-1.98%	-1.25%	-2.73%	-0.48%	-5.52%	-6.33%	-4.79%	-7.90%	-9.68%	-7.11%
Profit (Net Income) Margin	-6.46%	-2.78%	-1.13%	-3.20%	-2.02%	-6.01%	-6.78%	-4.24%	-6.30%	-8.00%	-7.83%
Tax Burden Percent	100.25%	107.61%	238.01%	96.50%	102.49%	102.11%	104.40%	84.27%	78.36%	79.79%	104.98%
Interest Burden Percent	105.85%	130.59%	37.85%	121.64%	409.22%	106.56%	102.60%	104.90%	101.68%	103.64%	104.85%
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)	-12.57%	-5.04%	-5.35%	-6.27%	-1.77%	-12.19%	-12.88%	-9.65%	-16.16%	-21.02%	-14.66%
ROIC Less NNEP Spread (ROIC-NNEP)	10.32%	1.14%	-7.21%	-2.91%	3.64%	-8.23%	-8.66%	-8.22%	-15.25%	-19.41%	-10.50%
Return on Net Nonoperating Assets (RNNOA)	-0.73%	-0.14%	1.46%	0.59%	-0.55%	2.22%	2.67%	2.64%	4.63%	7.07%	3.47%
Return on Equity (ROE)	-13.30%	-5.18%	-3.88%	-5.67%	-2.31%	-9.97%	-10.21%	-7.01%	-11.53%	-13.95%	-11.19%
Cash Return on Invested Capital (CROIC)	-0.68%	-17.50%	-28.99%	-26.76%	-14.91%	-19.99%	-2.99%	-7.14%	-28.05%	-12.34%	-7.14%
Operating Return on Assets (OROA)	-9.27%	-2.90%	-1.72%	-3.69%	-0.64%	-6.83%	-7.76%	-5.82%	-9.86%	-11.95%	-9.14%
Return on Assets (ROA)	-9.83%	-4.08%	-1.55%	-4.33%	-2.70%	-7.43%	-8.31%	-5.14%	-7.86%	-9.89%	-10.06%
Return on Common Equity (ROCE)	-12.22%	-4.76%	-3.57%	-5.34%	-2.18%	-9.37%	-9.60%	-6.59%	-10.79%	-13.09%	-10.49%
Return on Equity Simple (ROE_SIMPLE)	-11.12%	-6.89%	0.00%	-11.72%	-11.94%	-14.21%	0.00%	-14.72%	-13.13%	-9.14%	0.00%
Net Operating Profit after Tax (NOPAT)	-8.79	-3.43	-3.42	-4.06	-1.25	-7.50	-7.66	-5.72	-9.58	-12	-8.64
NOPAT Margin	-4.21%	-1.67%	-1.71%	-2.10%	-0.66%	-4.11%	-4.33%	-3.31%	-5.72%	-6.79%	-5.00%
Net Nonoperating Expense Percent (NNEP)	-22.89%	-6.17%	1.87%	-3.35%	-5.40%	-3.96%	-4.22%	-1.43%	-0.91%	-1.61%	-4.16%
Return On Investment Capital (ROIC_SIMPLE)	-2.67%	-	-	-	-0.34%	-	-	-	-	-	-
Cost of Revenue to Revenue	30.65%	30.90%	30.16%	30.60%	28.76%	30.28%	30.18%	31.27%	30.68%	31.28%	29.20%
SG&A Expenses to Revenue	13.45%	13.42%	14.84%	14.27%	13.37%	15.86%	16.39%	16.02%	17.21%	17.63%	15.85%
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	75.35%	71.49%	72.29%	72.40%	72.19%	75.60%	76.00%	73.47%	77.49%	78.42%	77.94%
Earnings before Interest and Taxes (EBIT)	-13	-4.06	-2.50	-5.27	-0.91	-10	-11	-8.27	-13	-17	-12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-7.29	1.45	2.93	-0.10	3.49	-5.70	-6.76	-4.17	-9.47	-13	-8.70
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.14	3.12	2.51	2.15	2.86	2.83	3.43	3.53	3.12	2.49	1.79
Price to Tangible Book Value (P/TBV)	5.10	6.98	5.41	4.42	5.86	5.15	6.10	6.12	5.35	4.18	2.93
Price to Revenue (P/Rev)	0.66	1.03	0.88	0.81	1.13	1.16	1.48	1.58	1.41	1.14	0.85
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)	2.09	2.99	2.49	2.19	2.90	3.16	4.31	4.44	3.54	3.10	2.07
Enterprise Value to Revenue (EV/Rev)	0.68	1.06	0.89	0.80	1.12	1.10	1.36	1.46	1.34	1.01	0.73
Enterprise Value to EBITDA (EV/EBITDA)	0.00	140.90	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	52.53
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)	117.99	0.00	0.00	0.00	0.00	0.00	46.38	96.94	0.00	35.44	18.55
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	0.26	0.26	0.26	0.25	0.26	0.26	0.26	0.22	0.24	0.23	0.23
Long-Term Debt to Equity	0.25	0.25	0.25	0.24	0.25	0.25	0.25	0.20	0.23	0.22	0.22
Financial Leverage	-0.07	-0.12	-0.20	-0.20	-0.15	-0.27	-0.31	-0.32	-0.30	-0.36	-0.33
Leverage Ratio	1.82	1.80	1.81	1.76	1.70	1.75	1.68	1.63	1.58	1.59	1.53
Compound Leverage Factor	1.93	2.35	0.69	2.14	6.97	1.86	1.72	1.71	1.60	1.65	1.60
Debt to Total Capital	20.70%	20.57%	20.65%	20.31%	20.53%	20.75%	20.62%	18.29%	19.30%	18.98%	18.71%
Short-Term Debt to Total Capital	1.08%	1.04%	1.00%	1.01%	1.00%	0.99%	0.96%	1.81%	0.92%	0.90%	0.87%
Long-Term Debt to Total Capital	19.62%	19.53%	19.64%	19.29%	19.53%	19.76%	19.66%	16.48%	18.38%	18.08%	17.84%
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	8.42%	8.13%	8.09%	4.59%	4.58%	4.64%	4.67%	4.85%	4.86%	4.93%	4.91%
Common Equity to Total Capital	70.88%	71.30%	71.27%	75.11%	74.89%	74.62%	74.72%	76.86%	75.83%	76.09%	76.37%
Debt to EBITDA	-14.87	12.77	-61.97	-6.94	-5.96	-3.06	-2.45	-2.06	-2.35	-4.45	8.45
Net Debt to EBITDA	3.48	-2.21	21.78	2.45	1.84	2.33	2.91	2.83	2.10	6.34	-11.25
Long-Term Debt to EBITDA	-14.10	12.13	-58.95	-6.59	-5.67	-2.91	-2.33	-1.86	-2.24	-4.24	8.05
Debt to NOPAT	-3.68	-6.20	-4.81	-3.71	-3.54	-2.62	-2.36	-2.05	-2.30	-3.50	-26.41
Net Debt to NOPAT	0.86	1.07	1.69	1.31	1.09	2.00	2.81	2.82	2.06	4.98	35.18
Long-Term Debt to NOPAT	-3.49	-5.88	-4.57	-3.53	-3.37	-2.50	-2.25	-1.85	-2.19	-3.33	-25.18
Altman Z-Score	2.57	3.39	2.91	2.88	3.40	3.26	3.62	3.92	4.06	3.27	3.25
Noncontrolling Interest Sharing Ratio	8.08%	7.99%	7.98%	5.85%	5.90%	5.97%	5.97%	6.00%	6.44%	6.15%	6.29%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.16	1.21	1.25	1.25	1.27	1.41	1.45	1.57	1.88	1.85	2.29
Quick Ratio	0.94	1.01	1.09	1.11	1.16	1.29	1.33	1.47	1.73	1.72	2.09
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	9.06	-37	-58	-50	-19	-24	20	13	-43	-17	-23
Operating Cash Flow to CapEx	502.83%	-341.64%	56.67%	776.11%	-586.00%	-1,282.96%	326.73%	619.01%	-504.12%	171.24%	17.92%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-49.01	0.00	0.00	0.00	32.25	-194.82	-27.40	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	3.43	0.00	0.00	0.00	71.79	-157.48	21.77	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	2.99	0.00	0.00	0.00	60.19	-188.71	9.06	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.52	1.47	1.37	1.35	1.33	1.24	1.23	1.21	1.25	1.24	1.29
Accounts Receivable Turnover	17.31	17.30	21.09	20.98	17.56	17.12	22.84	20.70	19.15	21.15	20.40
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	4.31	4.14	3.97	0.00	3.78	3.77	3.74	0.00	4.08	4.31	4.38
Accounts Payable Turnover	4.47	5.11	4.14	4.57	4.28	4.38	4.02	4.65	4.57	4.59	4.35
Days Sales Outstanding (DSO)	21.09	21.10	17.31	17.39	20.79	21.32	15.98	17.64	19.06	17.26	17.89
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)	81.70	71.46	88.06	79.80	85.21	83.40	90.70	78.48	79.81	79.60	83.97
Cash Conversion Cycle (CCC)	-60.61	-50.37	-70.75	-62.41	-64.42	-62.08	-74.72	-60.85	-60.75	-62.34	-66.08
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	261	278	272	271	279	244	218	225	261	227	245
Invested Capital Turnover	2.99	3.01	3.12	2.98	2.67	2.97	2.97	2.91	2.83	3.10	2.93
Increase / (Decrease) in Invested Capital	-18	34	55	46	18	17	-28	-19	34	4.90	14
Enterprise Value (EV)	545	830	678	594	809	771	939	1,001	922	704	506
Market Capitalization	532	814	674	603	815	814	1,017	1,082	973	797	594
Book Value per Share	$1.83	$1.92	$1.98	$2.07	$2.10	$2.11	$2.18	$2.26	$2.30	$2.36	$2.45
Tangible Book Value per Share	$0.77	$0.86	$0.92	$1.00	$1.02	$1.16	$1.23	$1.30	$1.34	$1.41	$1.49
Total Capital	351	366	378	374	381	385	397	399	411	421	435
Total Debt	73	75	78	76	78	80	82	73	79	80	81
Total Long-Term Debt	69	71	74	72	74	76	78	66	76	76	78
Net Debt	-17	-13	-27	-27	-24	-61	-97	-100	-71	-114	-108
Capital Expenditures (CapEx)	1.34	2.20	3.31	0.45	1.59	2.57	4.03	4.70	6.97	7.67	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-60	-55	-64	-64	-61	-74	-103	-82	-48	-73	-45
Debt-free Net Working Capital (DFNWC)	27	31	38	35	38	61	71	85	97	115	139
Net Working Capital (NWC)	23	27	35	31	34	57	67	78	93	112	136
Net Nonoperating Expense (NNE)	4.70	2.28	-1.16	2.13	2.57	3.46	4.34	1.59	0.97	2.08	4.89
Net Nonoperating Obligations (NNO)	-17	-13	-27	-27	-24	-61	-97	-100	-71	-114	-108
Total Depreciation and Amortization (D&A)	5.43	5.52	5.44	5.17	4.40	4.38	4.44	4.10	3.77	3.54	3.60
Debt-free, Cash-free Net Working Capital to Revenue	-7.45%	-6.95%	-8.44%	-8.69%	-8.48%	-10.60%	-14.96%	-12.00%	-6.94%	-10.47%	-6.44%
Debt-free Net Working Capital to Revenue	3.32%	3.94%	5.02%	4.71%	5.22%	8.73%	10.26%	12.49%	14.09%	16.55%	19.96%
Net Working Capital to Revenue	2.85%	3.46%	4.52%	4.19%	4.69%	8.19%	9.71%	11.44%	13.54%	16.00%	19.42%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.10)	($0.04)	($0.01)	($0.04)	($0.03)	($0.08)	($0.08)	($0.05)	($0.07)	($0.10)	($0.10)
Adjusted Weighted Average Basic Shares Outstanding	135.44M	135.77M	135.90M	135.91M	135.89M	135.79M	135.59M	135.60M	135.58M	135.57M	135.52M
Adjusted Diluted Earnings per Share	($0.10)	($0.04)	($0.01)	($0.04)	($0.03)	($0.08)	($0.08)	($0.05)	($0.07)	($0.10)	($0.10)
Adjusted Weighted Average Diluted Shares Outstanding	135.44M	135.77M	135.90M	135.91M	135.89M	135.79M	135.59M	135.60M	135.58M	135.57M	135.52M
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	135.24M	135.46M	135.62M	135.99M	135.90M	135.88M	135.88M	135.63M	135.60M	135.57M	135.57M
Normalized Net Operating Profit after Tax (NOPAT)	-2.84	-3.43	-3.42	-4.06	-1.25	-7.50	-7.66	-5.72	-9.58	-12	-8.64
Normalized NOPAT Margin	-1.36%	-1.67%	-1.71%	-2.10%	-0.66%	-4.11%	-4.33%	-3.31%	-5.72%	-6.79%	-5.00%
Pre Tax Income Margin	-6.44%	-2.59%	-0.47%	-3.32%	-1.97%	-5.88%	-6.50%	-5.03%	-8.04%	-10.03%	-7.46%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	-5.15	0.00	0.00	0.00	-20.42	-59.35	-27.47	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	-3.97	0.00	0.00	0.00	-14.12	-42.94	-19.27	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-5.60	0.00	0.00	0.00	-32.02	-90.59	-40.19	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-4.41	0.00	0.00	0.00	-25.72	-74.18	-31.99	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	-22.04%	-27.83%	-0.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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. View InnovAge's forecast to see where analysts expect InnovAge to go next.

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 5/21/2025 by MarketBeat.com Staff

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InnovAge (INNV) Financials

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InnovAge (INNV) Financials

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