InnovAge reports FY2023 net loss of $40.7M; revenue down 1.5% to $688.1M

InnovAge Holding Corp.

Q4 total revenue $176.9M, net loss $11.2M ($0.09 loss per share); adjusted EBITDA $0.7M.
FY2023 total revenue $688.1M (down 1.5% YoY), net loss $40.7M vs $6.5M loss in FY2022.
Center-level contribution margin fell 25% to $101.3M, 14.7% of revenue vs 19.4% in FY2022.
Participant census ~6,400, down from 6,650; adjusted EBITDA margin negative 0.2%.
CEO cites "strongest foundation" and expects responsible, profitable growth in fiscal 2024.

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 financial results for the fiscal fourth quarter and full year ended June 30, 2023.

Period: the fiscal fourth quarter and full year ended June 30, 2023
Result: reported results

Exact text from the filing

On September 12, 2023, InnovAge Holding Corp. issued a press release announcing financial results for the fiscal fourth quarter and full year ended June 30, 2023, and related matters.

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Source: SEC EDGAR

accession 0001834376-23-000016

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