InnovAge Q2 FY2023 net loss $10.5M; revenue down 4.5%, Adjusted EBITDA negative $2.0M

InnovAge Holding Corp.

2023-Q2 EPS reported -$0.17 revenue$338,674,000

Net loss of $10.5M ($0.07 loss per share) vs net income of $1.1M in Q2 FY2022.
Revenue $167.5M, down 4.5% YoY; participant census fell to ~6,460 from 7,050.
Adjusted EBITDA negative $2.0M, down from $14.8M; margin negative 1.2%.
Center-level Contribution Margin $22.6M, down 45.4% YoY; margin 13.5% vs 23.6%.
Ended quarter with $99.5M cash and $84.6M in debt.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

InnovAge Holding Corp. reported the fiscal second quarter ended December 31, 2022 results: revenue $167,456, net income $(10,547), EPS $(0.07).

Period: the fiscal second quarter ended December 31, 2022
Revenue: $167,456
Net income: $(10,547)
EPS: $(0.07)
Result: reported results

Exact text from the filing

Ended Six Months Ended December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 in thousands, except percentages and per share amounts Total revenues $ 167,456 $ 175,350 $ 338,674 $ 348,420 Center-level Contribution Margin (1) 22,573 41,406 43,997 83,736 Net Income (Loss) (10,547) 1,106

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Source: SEC EDGAR

accession 0001558370-23-000971

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