InnovAge Q2 EPS $0.01 (down from $0.08); revenue +11.5% but profit and margins fall on medical normalization

InnovAge Holding Corp.

2022-Q2 EPS reported $0.07 revenue$348,420,000

Net income $1.1M vs $9.6M YoY; diluted EPS $0.01 vs $0.08.
Revenue $175.4M, +11.5% YoY on census growth to ~7,050 (+6%).
Center-level Contribution Margin $41.4M (-6.1%); margin 23.6% (down 4.4pp) on medical cost normalization and center re-openings.
Adjusted EBITDA $14.8M vs $22.6M; margin 8.4% vs 14.5%.
Company addressing audit deficiencies in Sacramento and Colorado; CEO notes COVID, labor pressures.

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