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InnovAge Holding (INNV)
NASDAQ:INNV
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
-$0.01Last Year’s EPS
-$0.03Same Quarter Last Year
Moderate Sell
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: -30.97%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive trajectory in revenue and operational metrics, driven by strategic growth and effective cost management. However, challenges remain with de novo center losses, regulatory compliance, and enrollment processing delays. Overall, the company is making significant progress, with strong leadership and employee engagement contributing positively.Company Guidance
During the InnovAge Q1 2025 earnings call, the company provided guidance that reflects robust growth and operational enhancements. InnovAge reported total revenues of $205.1 million, a 12% increase from the same quarter last year, and an adjusted EBITDA of $6.5 million, marking a 500% improvement from the previous year's $1.3 million. The census grew to approximately 7,210 participants, reflecting a 10% year-over-year increase. The company also reaffirmed its annual guidance, projecting total revenue between $815 million and $865 million and an adjusted EBITDA of $24 million to $31 million. De novo losses are expected to range from $18 million to $20 million. InnovAge highlighted its focus on clinical and operational initiatives, which have started to yield tangible results in participant satisfaction and financial performance, evidenced by a new high Net Promoter Score of 56 and an employee engagement score of 79%.Significant Revenue and EBITDA Growth
Total revenues reached $205.1 million, a 12.4% increase from $182.5 million in the first quarter of fiscal year 2024. Adjusted EBITDA increased by approximately 500% from $1.3 million in Q1 FY2024 to $6.5 million.
Improvement in Census and Enrollment
Census increased to approximately 7,210, reflecting a 10% year-over-year growth compared to Q1 FY2024. Enrollment trends improved with a 7% increase in qualified lead volume.
Employee and Participant Engagement
Employee engagement score reached 79%, while the Net Promoter Score for participant satisfaction hit a new high of 56.
Operational Improvements and Cost Management
Center level contribution margin improved to 16.8% from 15.3% in Q1 FY2024. External provider costs per participant decreased due to efficient management.
Leadership Transition
Appointment of Michael Scarbrough as President and COO, bringing extensive experience in scaling healthcare programs.
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INNV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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INNV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $6.07 | $6.30 | +3.79% |
| Sep 10, 2024 | $6.18 | $5.78 | -6.47% |
| May 07, 2024 | $4.26 | $4.26 | 0.00% |
| Feb 06, 2024 | $5.33 | $5.12 | -3.94% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does InnovAge Holding (INNV) report earnings?
InnovAge Holding (INNV) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is InnovAge Holding (INNV) earnings time?
InnovAge Holding (INNV) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INNV EPS forecast?
INNV EPS forecast for the fiscal quarter 2025 (Q2) is -$0.01.
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