secwatch.observer — SEC 8-K summary
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Issuer:     InnovAge Holding Corp. (INNV)
CIK:        0001834376
Form:       8-K
Filed at:   2023-09-12T23:59:59+00:00
Accession:  0001834376-23-000016
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1834376/000183437623000016/0001834376-23-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1834376/000183437623000016/innv-20230912.htm
  HTML page:      https://secwatch.observer/filing/0001834376-23-000016

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer