InnovAge swings to operating income on 15.9% revenue growth, but $989.7M DOJ accrual and Medicaid cuts loom

Filed September 9, 2026 · Period ending June 30, 2026 · Compared to 10-K Sep 9, 2025 · ~1 min read

Key Changes

• high

  Revenue rose 15.9% to $989.7M, and operating income swung from a loss, driven by higher capitation rates and enrollment.

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• high

  Net loss narrowed, but a litigation expense increase, including a accrual for DOJ civil investigative demands, weighed on results.

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• high

  California paused all new PACE center applications for at least two years, and Colorado Medicaid premium rates are expected to decrease retroactively to July 1, 2026.

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