InnovAge Q3 revenue up 13.5% to $177.4M; net loss narrows but adjusted EBITDA drops 90%

InnovAge Holding Corp.

2022-Q3 EPS reported $0.05 revenue$525,780,000

Net loss $3.2M, EPS -$0.02 diluted vs -$0.09 a year ago; adjusted EBITDA $1.9M vs $20.3M.
Center-level contribution margin fell 32.3% to $28.0M; margin rate down 10.7 ppt to 15.8%.
Census ~6,800 participants, up 2.1% YoY; revenue growth driven by higher per-member rates.
CMO Dr. Melissa Welch leaving mid-June; Dr. Ann M. Wells named interim CMO.

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