OverviewSuggest Edit

InnovAge Holding Corp is a company that provides senior care programs and services. It helps older adults through the Program of All-inclusive Care for the Elderly (PACE). This program takes a holistic approach to treating and caring for older adults by providing a variety of services, including medical and dental treatment, physical therapy, meals, transportation, activities, etc.

TypePublic
Founded1990
HQDenver, CO, US
Websiteinnovage.com
Employee Ratings2.9

Latest Updates

Employees (est.) (Jun 2020)1,910
Revenue (FY, 2020)$567.2 M(+22%)
Share Price (Sept 2021)$14(+2%)
Cybersecurity ratingAMore

Key People/Management at InnovAge

Maureen Hewitt

Maureen Hewitt

President and CEO, Director
Heather Edwards

Heather Edwards

Center Director
Professional Bio

Professional Bio

Center Director
Melissa Welch

Melissa Welch

Chief Medical Officer
Malaika A. Mason

Malaika A. Mason

Executive Director
Tom Scully

Tom Scully

Chair
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InnovAge Office Locations

InnovAge has offices in Denver, Albuquerque, Charlottesville, Philadelphia and in 1 other location
Denver, CO, US (HQ)
8950 E Lowry Blvd
Albuquerque, NM, US
904 Las Lomas Rd NE
Charlottesville, VA, US
1335 Carlton Ave
Philadelphia, PA, US
1940 W Allegheny Ave
San Bernardino, CA, US
410 Parkcenter Cir
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InnovAge Financials and Metrics

InnovAge Revenue

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InnovAge's revenue was reported to be $567.19 m in FY, 2020 which is a 21.8% increase from the previous period.
USD

Revenue (H1, 2021)

309.9m

Gross profit (H1, 2021)

84.7m

Gross profit margin (H1, 2021), %

27.3%

Net income (H1, 2021)

(40.2m)

EBIT (H1, 2021)

(17.6m)

Market capitalization (17-Sept-2021)

1.9b

Closing stock price (17-Sept-2021)

14.0

Cash (31-Mar-2021)

201.5m

EV

1.8b
InnovAge's current market capitalization is $1.9 b.
Annual
USDFY, 2019FY, 2020

Revenue

465.6m567.2m

Revenue growth, %

22%

Cost of goods sold

355.0m425.9m

Gross profit

110.6m141.3m
Half Year
USDH1, 2020H1, 2021

Revenue

269.9m309.9m

Cost of goods sold

208.5m225.2m

Gross profit

61.4m84.7m

Gross profit Margin, %

23%27%
Annual
USDFY, 2019FY, 2020

Cash

59.7m112.9m

Accounts Receivable

51.3m46.3m

Current Assets

119.5m166.9m

PP&E

101.2m102.5m
Quarterly
USDQ2, 2021Q3, 2021

Cash

77.3m201.5m

Accounts Receivable

39.4m44.4m

Prepaid Expenses

3.6m

Current Assets

123.1m251.9m
Annual
USDFY, 2019FY, 2020

Net Income

19.1m25.8m

Depreciation and Amortization

9.0m11.3m

Accounts Payable

9.4m(1.0m)

Cash From Operating Activities

25.9m43.8m
Quarterly
USDQ2, 2020Q2, 2021Q3, 2021

Net Income

5.8m(40.2m)(50.5m)

Depreciation and Amortization

5.5m6.0m9.3m

Accounts Payable

5.4m2.4m7.7m

Cash From Operating Activities

13.4m(743.0k)(17.0m)
USDFY, 2019

Debt/Equity

2.4 x

Debt/Assets

0.5 x

Financial Leverage

4.5 x
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InnovAge Operating Metrics

FY, 2019H1, 2020FY, 2020H1, 2021

PACE Centers

16161617

Members

5.9 k6.3 k6.4 k6.6 k

Member Months

65.1 k36.9 k74.9 k39.1 k
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InnovAge Acquisitions / Subsidiaries

Company NameDateDeal Size
Continental Community Housing, Inc.
InnovAge California PACE-Los Angeles, LLC
InnovAge California PACE – Sacramento, LLC
InnovAge Florida II, LLC
InnovAge Florida PACE, LLC
InnovAge Greater Colorado PACE-Loveland, LLC
InnovAge Home Care – Aspen, LLC
InnovAge Home Care North, LLC
InnovAge Investment Holdings, LLC
InnovAge Kentucky PACE, LLC
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InnovAge Revenue Breakdown

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InnovAge revenue breakdown by business segment: 99.6% from PACE and 0.4% from Other

InnovAge Cybersecurity Score

Cybersecurity ratingPremium dataset

A

93/100

SecurityScorecard logo

InnovAge Online and Social Media Presence

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InnovAge News and Updates

InnovAge to Announce Fiscal Fourth Quarter 2021 Financial Results and Host Conference Call Tuesday, September 21, 2021

DENVER, Aug. 31, 2021 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (the “Company” or “InnovAge”) (Nasdaq: INNV) will release its 2021 fiscal fourth quarter and year-end financial results on Tuesday, September 21, 2021, after market close. In conjunction, the company will host a conference call to re…

InnovAge PACE Centers in Virginia and New Mexico Recognized for Quality of Patient Care

Virginia Centers Join Centers in Three Other States in Achieving Certification by the National Committee for Quality Assurance Virginia Centers Join Centers in Three Other States in Achieving Certification by the National Committee for Quality Assurance

InnovAge Makes Equity Investment in Jetdoc, Partnering to Develop PACE-Specific Telehealth and Remote Patient Monitoring Platform

DENVER, Aug. 04, 2021 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (“InnovAge”) (Nasdaq: INNV) today announced that it has made an equity investment in telehealth platform Jetdoc, a telehealth and virtual urgent care app dedicated to connecting users with medical professionals in an effective way. I…

InnovAge Pennsylvania LIFE Centers Recognized for Quality of Patient Care

Certification by National Committee for Quality Assurance Reinforces InnovAge's Continued Commitment to Delivering Patient-centered Senior Healthcare Certification by National Committee for Quality Assurance Reinforces InnovAge's Continued Commitment to Delivering Patient-centered Senior Healthcare

InnovAge Opens New Care Center for Seniors in Roanoke Valley

DENVER, June 30, 2021 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (the “Company” or “InnovAge”) (Nasdaq: INNV) today announced the opening of its new Program of All-inclusive Care for the Elderly (PACE) center in Virginia's Roanoke Valley. The state-of-the-art center, located at 1606 Lynchburg Turn…

InnovAge to Participate in Upcoming Investor Conferences

DENVER, May 26, 2021 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (the “Company” or “InnovAge”) (Nasdaq: INNV), a market leading healthcare delivery platform for high-cost, dual-eligible seniors, announced that Maureen Hewitt, Chief Executive Officer, and Barb Gutierrez, Chief Financial Officer, wil…
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InnovAge Frequently Asked Questions

  • When was InnovAge founded?

    InnovAge was founded in 1990.

  • Who are InnovAge key executives?

    InnovAge's key executives are Maureen Hewitt, Heather Edwards and Professional Bio.

  • How many employees does InnovAge have?

    InnovAge has 1,910 employees.

  • What is InnovAge revenue?

    Latest InnovAge annual revenue is $567.2 m.

  • What is InnovAge revenue per employee?

    Latest InnovAge revenue per employee is $297 k.

  • Who are InnovAge competitors?

    Competitors of InnovAge include naviHealth, Nurse Next Door and CBI Health Group.

  • Where is InnovAge headquarters?

    InnovAge headquarters is located at 8950 E Lowry Blvd, Denver.

  • Where are InnovAge offices?

    InnovAge has offices in Denver, Albuquerque, Charlottesville, Philadelphia and in 1 other location.

  • How many offices does InnovAge have?

    InnovAge has 5 offices.