Filing Flows › InnovAge Holding (INNV) › Q4 FY25
InnovAge Holding (INNV) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Sep 9, 2025
InnovAge Holding (INNV) reported revenue of $221M for the fourth quarter fiscal 2025 (Q4 FY25), +11% from a year earlier and +2% from the quarter before. Operating margin was -1.0%, net loss $5.0M (2.3% of revenue).
InnovAge Holding, Q4 FY25: revenue $221M (+11% year over year), operating margin -1.0%, net loss $5.0M, operating cash flow $9.0M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $221M | +2% | +11% |
| Operating profit | −$2.1M | — | — |
| Net earnings | −$5.0M | — | — |
| Operating cash flow | $9.0M | -63% | +381% |
What changed
Revenue was $221.4M in Q4 FY25, up 11% year over year and up 2% from the previous quarter. Capitation revenue was the largest line at 100% of revenue.
Gross margin was 18.6%, up 0.3 points from a year earlier. Operating costs exceeded revenue by $2.1M, an operating margin of -1.0%. Operating expenses grew 5% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+60%). The quarter ended with a net loss of $5.0M, narrower than the previous quarter's $11.1M loss. Minority interests bore $4.2M of it: to shareholders the quarter was a loss of $785K.
Operating cash flow was $9.0M (up 381% year over year). Non-cash charges added back $3.4M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items added $9.1M. Capital expenditures of −$179K left free cash flow of $9.2M.
Questions
What was InnovAge Holding's revenue in the fourth quarter fiscal 2025?
InnovAge Holding (INNV) reported revenue of $221M for the fourth quarter fiscal 2025 (Q4 FY25), +11% from a year earlier and +2% from the quarter before.
Was InnovAge Holding profitable in the fourth quarter fiscal 2025?
Operating loss was $2.1M (-1.0% of revenue) and net loss $5.0M.
Source: InnovAge Holding 10-K on SEC EDGAR.