InnovAge Maintains Fiscal 2027 Outlook as Quarterly Revenue Rises 12.1%

InnovAge Holding Corp. (InnovAge) kept its fiscal 2027 revenue and adjusted EBITDA outlook unchanged Nov. 3 after posting 12.1% revenue growth in its first quarter.

For the three months ended Sept. 30, 2026, revenue was $264.8 million, compared with $236.1 million a year earlier. Net income rose to $20.9 million from $7.7 million, and adjusted EBITDA increased to $31.3 million from $17.6 million.

The fiscal 2027 outlook matches guidance InnovAge issued Sept. 8: revenue of $1.05 billion to $1.085 billion and adjusted EBITDA of $105 million to $115 million. It also includes census of 8,625 to 8,850 and total member months of 101,000 to 102,500. InnovAge’s fiscal year ends June 30.

InnovAge provides care to frail seniors, most of whom qualify for both Medicare and Medicaid, through the Program of All-inclusive Care for the Elderly (PACE). As of Sept. 30, the company served about 8,420 participants at 20 centers in six states.

Adjusted EBITDA is a non-GAAP measure. InnovAge provided no fiscal 2027 net income guidance and did not reconcile its adjusted EBITDA outlook to a GAAP measure, saying it could not estimate certain items without unreasonable effort. The company cautioned that actual results could differ materially from its outlook.