Filing Flows › InnovAge Holding (INNV) › Q3 FY26
InnovAge Holding (INNV) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed May 8, 2026
InnovAge Holding (INNV) reported revenue of $252M for the third quarter fiscal 2026 (Q3 FY26), +15% from a year earlier and +5% from the quarter before. Operating margin was -11.5%, net loss $29.9M (11.9% of revenue).
InnovAge Holding, Q3 FY26: revenue $252M (+16% year over year), operating margin -11.5%, net loss $29.9M, operating cash flow $18.1M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $252M | +5% | +15% |
| Operating profit | −$29.1M | -319% | — |
| Net earnings | −$29.9M | -382% | — |
| Operating cash flow | $18.1M | -15% | -26% |
| Free cash flow | $14.5M | -23% | -33% |
What changed
Revenue was $251.9M in Q3 FY26, up 15% year over year and up 5% from the previous quarter. Capitation revenue was the largest line at 100% of revenue. Capitation revenue added $33.7M year over year (up 15%), 100% of the total change.
Gross margin was 24.2%, up 5.5 points from Q3 FY25. Operating costs exceeded revenue by $29.1M, an operating margin of -11.5%. Operating expenses grew 77% against revenue growth of 15%. The fastest-growing cost line was General & admin (+98%). The quarter ended with a net loss of $29.9M, after a profit of $11.8M the previous quarter. Minority interests bore $479K of it: to shareholders the quarter was a loss of $29.5M.
Operating cash flow was $18.1M (down 26% year over year). Non-cash charges added back $4.8M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items added $41.5M. Capital expenditures of $3.6M left free cash flow of $14.5M.
Questions
What was InnovAge Holding's revenue in the third quarter fiscal 2026?
InnovAge Holding (INNV) reported revenue of $252M for the third quarter fiscal 2026 (Q3 FY26), +15% from a year earlier and +5% from the quarter before.
Was InnovAge Holding profitable in the third quarter fiscal 2026?
Operating loss was $29.1M (-11.5% of revenue) and net loss $29.9M.
Source: InnovAge Holding 10-Q on SEC EDGAR.