Filing Flows › InnovAge Holding (INNV) › Q4 FY26
InnovAge Holding (INNV) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Sep 9, 2026
InnovAge Holding (INNV) reported revenue of $262M for the fourth quarter fiscal 2026 (Q4 FY26), +18% from a year earlier and +4% from the quarter before. Operating margin was 3.9%, net earnings $8.3M (3.2% of revenue).
InnovAge Holding, Q4 FY26: revenue $262M (+18% year over year), operating margin 3.9%, net earnings $8.3M, operating cash flow $21.3M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $262M | +4% | +18% |
| Gross profit | $62.6M | +3% | +52% |
| Operating profit | $10.1M | — | — |
| Net earnings | $8.3M | — | — |
| Operating cash flow | $21.3M | +17% | +137% |
| Free cash flow | $17.0M | +17% | +85% |
What changed
Revenue was $262.0M in Q4 FY26, up 18% year over year and up 4% from the previous quarter. Capitation revenue was the largest line at 100% of revenue.
Gross margin was 23.9%, up 5.2 points from Q4 FY25. Operating profit was $10.1M, a 3.9% margin (up 4.8 points year over year). Operating expenses grew 21% against revenue growth of 18%. The fastest-growing cost line was Sales & marketing (+40%). Net earnings were $8.3M. The effective tax rate was -1.2%.
Operating cash flow was $21.3M (up 137% year over year), 218% of net income including minority interests. Non-cash charges added back $6.4M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $3.4M. Capital expenditures of $4.3M left free cash flow of $17.0M.
Questions
What was InnovAge Holding's revenue in the fourth quarter fiscal 2026?
InnovAge Holding (INNV) reported revenue of $262M for the fourth quarter fiscal 2026 (Q4 FY26), +18% from a year earlier and +4% from the quarter before.
Was InnovAge Holding profitable in the fourth quarter fiscal 2026?
Operating profit was $10.1M (3.9% of revenue) and net earnings $8.3M.
Source: InnovAge Holding 10-K on SEC EDGAR.