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Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease. Themes include Geriatric Care.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Weak multi-year price returns
3Y Excs Rtn is -8.0%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -4.5 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.5%

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 31x

Stock price has recently run up significantly
6M Rtn6 month market price return is 131%, 12M Rtn12 month market price return is 189%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 123%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.9%

Key risks
INNV key risks include [1] a documented history of regulatory sanctions for compliance failures, Show more.

0 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease. Themes include Geriatric Care.
1 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
2 Weak multi-year price returns
3Y Excs Rtn is -8.0%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -4.5 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.5%
4 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 31x
5 Stock price has recently run up significantly
6M Rtn6 month market price return is 131%, 12M Rtn12 month market price return is 189%
6 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 123%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.9%
8 Key risks
INNV key risks include [1] a documented history of regulatory sanctions for compliance failures, Show more.

INNV in ETFs

Weight = INNV's share of each fund

VTI0.00%
IWM0.01%
IWO0.02%
DFAS0.01%
SCHA0.01%
VTWO0.00%
SCHB0.00%
DFAC0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/1/2026

InnovAge (INNV) stock has gained about 50% since 3/31/2026 because of the following key factors:

1. Strong Fiscal Third Quarter 2026 Financial Results Exceeded Expectations.

InnovAge announced robust financial results for its fiscal third quarter ended March 31, 2026, on May 5, 2026, which surpassed analyst estimates. The company reported an Earnings Per Share (EPS) of US$0.078, exceeding analyst expectations by 101%. Additionally, revenue reached US$239.7 million, beating estimates by 5.0% and marking a 15% increase compared to the fiscal third quarter of 2025. InnovAge also achieved a net income of US$10.6 million for the quarter, a significant turnaround from a net loss in the prior year, with a profit margin of 4.4%. As of March 31, 2026, the company served approximately 8,050 participants across its 20 centers, indicating continued growth in its core business.

2. Upgraded Fiscal Year 2026 Guidance and Analyst Price Target Increases.

Following strong financial performance, the consensus outlook for InnovAge's fiscal year 2026 saw an increase in EPS estimates from US$0.23 to US$0.253. Concurrently, the consensus price target for the stock was raised from US$5.00 to US$7.00, reflecting enhanced analyst confidence in the company's future earnings potential and valuation. This upward revision in guidance and price targets signaled improved prospects for the company.

Show more
Updated on 7/1/2026

InnovAge (INNV) stock has gained about 50% since 3/31/2026 because of the following key factors:

1. Strong Fiscal Third Quarter 2026 Financial Results Exceeded Expectations.

InnovAge announced robust financial results for its fiscal third quarter ended March 31, 2026, on May 5, 2026, which surpassed analyst estimates. The company reported an Earnings Per Share (EPS) of US$0.078, exceeding analyst expectations by 101%. Additionally, revenue reached US$239.7 million, beating estimates by 5.0% and marking a 15% increase compared to the fiscal third quarter of 2025. InnovAge also achieved a net income of US$10.6 million for the quarter, a significant turnaround from a net loss in the prior year, with a profit margin of 4.4%. As of March 31, 2026, the company served approximately 8,050 participants across its 20 centers, indicating continued growth in its core business.

2. Upgraded Fiscal Year 2026 Guidance and Analyst Price Target Increases.

Following strong financial performance, the consensus outlook for InnovAge's fiscal year 2026 saw an increase in EPS estimates from US$0.23 to US$0.253. Concurrently, the consensus price target for the stock was raised from US$5.00 to US$7.00, reflecting enhanced analyst confidence in the company's future earnings potential and valuation. This upward revision in guidance and price targets signaled improved prospects for the company.

3. Appointment of New President and Chief Operating Officer.

InnovAge strengthened its leadership team with the appointment of Jennifer Browne as President and Chief Operating Officer, effective June 8, 2026. This strategic addition to the executive team, bringing extensive experience, likely contributed to positive investor sentiment, suggesting a renewed focus on operational efficiencies and strategic execution.

4. Improving Investor Sentiment and Significant Decrease in Short Interest.

InnovAge's stock demonstrated considerable positive momentum, with a rise of 27.44% in the two weeks leading up to June 29, 2026. During this period, the stock received "buy signals" from both short and long-term Moving Averages, indicating a positive technical outlook. Furthermore, short interest in InnovAge recently decreased by 33.39%, suggesting an improvement in overall investor sentiment and a reduction in bearish positions against the company's stock.

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Stock Movement Drivers

Fundamental Drivers

The 49.5% change in INNV stock from 3/31/2026 to 7/5/2026 was primarily driven by a 44.2% change in the company's P/S Multiple.
(LTM values as of)33120267052026Change
Stock Price ($)8.0211.9949.5%
Change Contribution By: 
Total Revenues ($ Mil)9159493.7%
P/S Multiple1.21.744.2%
Shares Outstanding (Mil)1361360.0%
Cumulative Contribution49.5%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/5/2026
ReturnCorrelation
INNV49.5% 
Market (SPY)14.5%16.3%
Sector (XLV)11.7%32.8%

Fundamental Drivers

The 131.0% change in INNV stock from 12/31/2025 to 7/5/2026 was primarily driven by a 115.5% change in the company's P/S Multiple.
(LTM values as of)123120257052026Change
Stock Price ($)5.1911.99131.0%
Change Contribution By: 
Total Revenues ($ Mil)8859497.3%
P/S Multiple0.81.7115.5%
Shares Outstanding (Mil)136136-0.1%
Cumulative Contribution131.0%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/5/2026
ReturnCorrelation
INNV131.0% 
Market (SPY)9.5%15.9%
Sector (XLV)6.2%30.6%

Fundamental Drivers

The 224.9% change in INNV stock from 6/30/2025 to 7/5/2026 was primarily driven by a 185.8% change in the company's P/S Multiple.
(LTM values as of)63020257052026Change
Stock Price ($)3.6911.99224.9%
Change Contribution By: 
Total Revenues ($ Mil)83294914.1%
P/S Multiple0.61.7185.8%
Shares Outstanding (Mil)135136-0.4%
Cumulative Contribution224.9%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/5/2026
ReturnCorrelation
INNV224.9% 
Market (SPY)21.6%18.7%
Sector (XLV)23.1%32.4%

Fundamental Drivers

The 59.9% change in INNV stock from 6/30/2023 to 7/5/2026 was primarily driven by a 38.8% change in the company's Total Revenues ($ Mil).
(LTM values as of)63020237052026Change
Stock Price ($)7.5011.9959.9%
Change Contribution By: 
Total Revenues ($ Mil)68494938.8%
P/S Multiple1.51.715.3%
Shares Outstanding (Mil)136136-0.1%
Cumulative Contribution59.9%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/5/2026
ReturnCorrelation
INNV59.9% 
Market (SPY)74.0%23.5%
Sector (XLV)29.1%27.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
INNV Return-79%44%-16%-34%32%126%-52%
Peers Return61%-3%21%10%23%29%229%
S&P 500 Return27%-19%24%23%16%9%99%

Monthly Win Rates [3]
INNV Win Rate30%67%67%33%42%57% 
Peers Win Rate72%47%56%50%71%52% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
INNV Max Drawdown--48%-35%-44%-34%-33% 
Peers Max Drawdown-18%-38%-28%-37%-36%-28% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ACHC, GMRS, PARK, HCA, THC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/2/2026 (YTD)

How Low Can It Go

EventINNVS&P 500
2025 US Tariff Shock
  % Loss-21.6%-18.8%
  % Gain to Breakeven27.6%23.1%
  Time to Breakeven30 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-28.6%-9.5%
  % Gain to Breakeven40.0%10.5%
  Time to Breakeven826 days24 days
2023 SVB Regional Banking Crisis
  % Loss-25.2%-6.7%
  % Gain to Breakeven33.6%7.1%
  Time to Breakeven42 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-30.1%-24.5%
  % Gain to Breakeven43.1%32.4%
  Time to Breakeven9 days427 days

Compare to ACHC, GMRS, PARK, HCA, THC

In The Past

InnovAge's stock fell -21.6% during the 2025 US Tariff Shock. Such a loss loss requires a 27.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventINNVS&P 500
2025 US Tariff Shock
  % Loss-21.6%-18.8%
  % Gain to Breakeven27.6%23.1%
  Time to Breakeven30 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-28.6%-9.5%
  % Gain to Breakeven40.0%10.5%
  Time to Breakeven826 days24 days
2023 SVB Regional Banking Crisis
  % Loss-25.2%-6.7%
  % Gain to Breakeven33.6%7.1%
  Time to Breakeven42 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-30.1%-24.5%
  % Gain to Breakeven43.1%32.4%
  Time to Breakeven9 days427 days

Compare to ACHC, GMRS, PARK, HCA, THC

In The Past

InnovAge's stock fell -21.6% during the 2025 US Tariff Shock. Such a loss loss requires a 27.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About InnovAge (INNV)

InnovAge Holding Corp. (INNV) specializes in providing comprehensive healthcare and support services to seniors, enabling them to live independently in their homes and communities. The company operates under the Program of All-Inclusive Care for the Elderly (PACE) model, which integrates medical and social services to meet the individualized needs of its participants.

InnovAge’s service offerings are diverse, encompassing both in-home and in-center care. In-home services include skilled nursing, personal care, and unskilled support. Its PACE centers provide primary medical care, various therapies (physical, occupational, speech), dental services, mental health support, meals, and social activities. The company also manages transportation to centers and medical appointments, alongside overall care management for its participants.

The company primarily serves seniors requiring a high level of coordinated care, with approximately 6,850 PACE participants currently under its care. InnovAge's operations span five U.S. states—Colorado, California, New Mexico, Pennsylvania, and Virginia—where it manages a network of 18 PACE centers.

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Kaiser Permanente for seniors, but focused on keeping them independent in their homes and communities.

A 'one-stop-shop' like Sam's Club or Costco, but for all the medical, social, and daily living needs of seniors who want to live independently at home.

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  • Program of All-Inclusive Care for the Elderly (PACE): An integrated healthcare model that provides comprehensive medical and ancillary services to seniors allowing them to live independently.
  • In-Home Care Services: Direct care provided in participants' homes, encompassing skilled nursing, unskilled assistance, and personal care.
  • In-Center Services: A variety of medical, therapeutic, nutritional, and social services delivered at dedicated PACE centers.
  • Transportation Services: Coordinated transportation for participants to attend appointments at PACE centers and other third-party medical facilities.
  • Care Management: Professional oversight and coordination of all aspects of a participant's individualized care plan.

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InnovAge (INNV) primarily sells its services directly to individuals. The company manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities through the Program of All-Inclusive Care for the Elderly (PACE) approach.

The categories of customers it serves are:

  1. Seniors and Elderly Individuals: The company's core mission is to serve older adults who require comprehensive care and support to maintain their independence and live in their homes and communities.
  2. Participants in the Program of All-Inclusive Care for the Elderly (PACE): InnovAge's customer base consists of individuals enrolled in the PACE program. These participants are typically 55 years or older, certified by their state to need nursing home-level care, and able to live safely in the community with PACE services. The company serves approximately 6,850 PACE participants.

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Patrick Blair, Chief Executive Officer

Patrick Blair was appointed CEO of InnovAge in January 2022. He has a tenure of over four years with the company.

Ben Adams, Chief Financial Officer

Ben Adams joined InnovAge as Chief Financial Officer in July 2023. He previously served as CFO of Kepro, a physician-led, technology-enabled company, and RxSense, LLC. Earlier in his career, Adams spent over two decades as a senior healthcare investment banker.

Christine Bent, Chief Operations Officer

Christine Bent was named Chief Operations Officer of InnovAge in March 2023. Prior to joining InnovAge, she was Senior Vice President and COO at Prime Therapeutics LLC, a privately held pharmacy benefit manager. She also held clinical and operations leadership roles at Allina Health for 12 years, and leadership positions at Atrius Health and Partners Community Healthcare.

Paul Taheri, MD, MBA, Chief Medical Officer

Dr. Paul Taheri was appointed Chief Medical Officer of InnovAge in November 2025. He previously served as Clinical Quality Advisor to Welsh, Carson, Anderson & Stowe (WCAS), a private equity firm that is a major shareholder in InnovAge. Dr. Taheri's prior experience includes roles as CEO and Deputy Dean for Clinical Affairs at Yale School of Medicine, and President and CEO of the University of Vermont Medical Group.

Nicole D'Amato, Chief Legal Officer & Corporate Secretary

Nicole D'Amato has served as InnovAge's Chief Legal Officer and Corporate Secretary since July 2021. Before InnovAge, she was Senior Vice President at MacAndrews & Forbes, a company that owned a majority stake in Revlon, Inc. and was a major shareholder of Scientific Games, among other private companies. She also held senior legal roles at DIAGEO North America, Inc. and Samsonite, LLC, where she was involved in Samsonite's initial public offering on the Hong Kong Stock Exchange.

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Key Risks to InnovAge (INNV)

  1. Regulatory Scrutiny and Dependence on Government Payors: InnovAge operates under the Program of All-Inclusive Care for the Elderly (PACE) model, making its revenue highly dependent on government payors like Medicare and Medicaid. This exposes the company to significant regulatory risks, including audits, policy changes, and potential sanctions for non-compliance. InnovAge has previously faced enrollment suspensions and citations for care deficiencies from the Centers for Medicare & Medicaid Services (CMS) and state regulators, directly impacting its ability to enroll new participants and grow its business.
  2. Cost Management Challenges within a Capitated Model: As a PACE provider, InnovAge assumes 100% of the healthcare costs for its participants under a capitated payment model. While this model aims to incentivize preventive care and cost reduction, there is a substantial risk that the cost of providing comprehensive services, especially to its high-acuity population with an average of ten chronic conditions, could exceed the fixed compensation received. Challenges in managing these costs effectively, coupled with rising care expenses and losses from new centers, could hinder the company's path to consistent profitability.
  3. Staffing Shortages and Maintaining Quality of Care: InnovAge faces challenges related to workforce shortages in the healthcare sector, particularly for geriatric and primary care. Current and former employees have cited understaffing, high caseloads, and organizational dysfunction leading to delayed or inadequate care for participants. Such issues directly impact the quality of care provided, patient satisfaction, and can lead to regulatory actions and reputational damage, all of which are critical for the long-term success of a healthcare service provider.
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The increasing trend among Medicare Advantage (MA) plans to offer comprehensive supplemental benefits, including in-home support, transportation, meal delivery, and enhanced care coordination, which directly overlap with and provide an alternative to the all-inclusive services offered by the Program of All-Inclusive Care for the Elderly (PACE) model.

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The total addressable market for InnovAge's main product and service, the Program of All-Inclusive Care for the Elderly (PACE), is estimated to be $260 billion in the United States.

This market size is based on an estimated 2.3 million PACE-eligible individuals in the U.S. as of 2023. InnovAge targets frail, high-cost seniors who are dually eligible for Medicare and Medicaid and meet nursing home eligibility criteria. Currently, only a small fraction of these eligible individuals are enrolled in PACE programs, with approximately 77,000 participants as of June 2024.

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InnovAge Holding Corp. (INNV) is expected to drive future revenue growth over the next two to three years through several key strategies:

  1. Participant Growth (Census Growth): InnovAge consistently emphasizes increasing its participant base within its Program of All-Inclusive Care for the Elderly (PACE). The company reported serving approximately 8,010 participants across 20 centers as of December 31, 2025, marking a 7.1% growth compared to the second quarter of fiscal year 2025. InnovAge's fiscal year 2026 guidance projects an ending census of 7,900 to 8,100 participants.
  2. Increased Capitation Rates: A significant portion of InnovAge's revenue is derived from capitation rates, which include annual adjustments from Medicaid and Medicare. Increases in these capitation rates directly contribute to revenue growth.
  3. Expansion of De Novo Centers: InnovAge is actively expanding its footprint by opening new "de novo" centers, such as those in Florida. While these new centers initially incur losses during their ramp-up phase, they are anticipated to become substantial contributors to revenue as they mature and increase participant enrollment.
  4. Successful Medicaid Reinstatements: The company has seen revenue growth driven by its success in reinstating participants who had previously lost Medicaid coverage. This initiative directly contributes to census growth and, consequently, revenue.
  5. Operational Efficiencies and Revenue Integrity: InnovAge is improving its revenue through enhanced revenue integrity processes, including a reduction in revenue write-offs and a strengthened Medicaid eligibility tracking system. These operational improvements ensure the company effectively captures the revenue it is entitled to, thereby contributing to overall revenue growth and profitability.

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Share Repurchases

  • InnovAge reported a repurchase of equity securities totaling approximately $5.912 million in a period within fiscal year 2025.

Share Issuance

  • InnovAge completed its Initial Public Offering (IPO) in March 2021, issuing 16,666,667 shares of common stock at a price of $21.00 per share, raising approximately $350.07 million in gross proceeds.
  • Including a partial exercise of the underwriters' option to purchase additional shares, the IPO ultimately involved 18,995,901 shares, generating approximately $399 million in gross proceeds.

Inbound Investments

  • Prior to its IPO, InnovAge was a portfolio company backed by private equity firms Apax Partners LLP and Welsh, Carson, Anderson and Stowe LP.

Capital Expenditures

  • For the second quarter of fiscal year 2026 (ended December 31, 2025), InnovAge incurred $2.4 million in capital expenditures.
  • The company anticipates requiring significant capital expenditures to grow and evolve its operational and financial operations, including ensuring personnel licensing and training.
  • InnovAge's investments aim to improve health outcomes and reduce medical costs for participants, with long-term plans to reinvest savings back into the InnovAge Platform.

Better Bets vs. InnovAge (INNV)

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

INNVACHCGMRSPARKHCATHCMedian
NameInnovAge Acadia H.GMR Solu.Park Den.HCA Heal.Tenet He. 
Mkt Price11.9931.9114.5220.91410.50203.7226.41
Mkt Cap1.62.9--91.817.710.3
Rev LTM9493,371--76,38821,86812,620
Op Inc LTM-4393--11,9733,8332,113
FCF LTM42-292--7,9273,3491,696
FCF 3Y Avg8-318--6,1022,1721,090
CFO LTM52182--12,9994,3662,274
CFO 3Y Avg18247--10,9313,0511,649

Growth & Margins

INNVACHCGMRSPARKHCATHCMedian
NameInnovAge Acadia H.GMR Solu.Park Den.HCA Heal.Tenet He. 
Rev Chg LTM14.1%6.8%--6.7%6.5%6.8%
Rev Chg 3Y Avg11.6%7.7%--7.9%4.1%7.8%
Rev Chg Q15.5%7.6%--4.3%10.7%9.1%
QoQ Delta Rev Chg LTM3.7%1.8%--1.0%2.6%2.2%
Op Inc Chg LTM81.4%-16.6%--10.4%25.2%17.8%
Op Inc Chg 3Y Avg47.3%-5.8%--8.9%18.0%13.5%
Op Mgn LTM-0.5%11.7%--15.7%17.5%13.7%
Op Mgn 3Y Avg-2.4%14.8%--15.1%15.0%14.9%
QoQ Delta Op Mgn LTM-2.0%-0.0%---0.2%1.4%-0.1%
CFO/Rev LTM5.5%5.4%--17.0%20.0%11.3%
CFO/Rev 3Y Avg1.7%7.8%--15.2%14.4%11.1%
FCF/Rev LTM4.5%-8.7%--10.4%15.3%7.4%
FCF/Rev 3Y Avg0.6%-10.1%--8.5%10.2%4.5%

Valuation

INNVACHCGMRSPARKHCATHCMedian
NameInnovAge Acadia H.GMR Solu.Park Den.HCA Heal.Tenet He. 
Mkt Cap1.62.9--91.817.710.3
P/S1.70.9--1.20.81.0
P/Op Inc-365.37.3--7.74.66.0
P/EBIT-176.4-3.1--7.64.40.6
P/E-140.2-2.6--13.510.43.9
P/CFO31.015.9--7.14.111.5
Total Yield-0.7%-38.3%--8.1%9.6%3.7%
Dividend Yield0.0%0.0%--0.7%0.0%0.0%
FCF Yield 3Y Avg0.7%-9.6%--6.5%16.1%3.6%
D/E0.10.9--0.50.70.6
Net D/E-0.00.9--0.50.60.6

Returns

INNVACHCGMRSPARKHCATHCMedian
NameInnovAge Acadia H.GMR Solu.Park Den.HCA Heal.Tenet He. 
1M Rtn64.2%30.4%33.2%10.3%10.5%25.7%28.0%
3M Rtn57.6%33.2%3.9%17.4%-12.8%8.3%12.8%
6M Rtn131.0%123.3%3.9%41.3%-12.4%2.1%22.6%
12M Rtn188.9%37.6%3.9%104.0%9.7%18.3%27.9%
3Y Rtn87.9%-58.3%3.9%104.0%42.7%154.8%65.3%
1M Excs Rtn67.7%32.3%38.5%6.4%13.6%26.2%29.3%
3M Excs Rtn35.7%21.0%-9.9%6.9%-27.2%-6.7%0.1%
6M Excs Rtn119.4%109.9%-4.6%60.0%-21.5%-7.3%27.7%
12M Excs Rtn182.8%15.1%-16.9%83.3%-14.6%-5.9%4.6%
3Y Excs Rtn-8.0%-130.5%-67.0%33.1%-29.7%85.9%-18.9%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Program of All-Inclusive Care for the Elderly (PACE)853763687697636
All other11112
Total854764688699638


Price Behavior

Price Behavior
Market Price$11.99 
Market Cap ($ Bil)1.6 
First Trading Date03/04/2021 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$7.38$8.99
DMA Trendupup
Distance from DMA62.6%33.4%
 3M1YR
Volatility50.0%83.4%
Downside Capture-82.1351.04
Upside Capture123.75166.10
Correlation (SPY)18.3%19.0%
INNV Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta0.490.350.590.901.221.11
Up Beta3.323.261.952.122.431.41
Down Beta0.260.07-0.690.360.680.69
Up Capture276%98%98%178%219%136%
Bmk +ve Days11244067140429
Stock +ve Days15253765130361
Down Capture-284%-205%-85%-23%49%104%
Bmk -ve Days10172358112321
Stock -ve Days6162556114363

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with INNV
INNV203.4%83.4%1.68-
Sector ETF (XLV)21.4%15.6%1.0532.0%
Equity (SPY)21.7%12.5%1.2918.9%
Gold (GLD)23.1%27.7%0.7311.8%
Commodities (DBC)21.3%18.6%0.90-2.7%
Real Estate (VNQ)13.6%13.8%0.6831.0%
Bitcoin (BTCUSD)-42.0%42.7%-1.1512.5%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with INNV
INNV-11.3%74.6%0.17-
Sector ETF (XLV)7.2%14.9%0.3025.8%
Equity (SPY)13.3%17.1%0.6027.0%
Gold (GLD)17.9%18.3%0.798.3%
Commodities (DBC)6.9%19.5%0.252.8%
Real Estate (VNQ)3.1%18.9%0.0629.1%
Bitcoin (BTCUSD)12.2%53.8%0.4112.9%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with INNV
INNV-6.8%73.1%0.14-
Sector ETF (XLV)10.6%16.6%0.5225.5%
Equity (SPY)15.4%18.0%0.7326.7%
Gold (GLD)12.1%16.1%0.618.0%
Commodities (DBC)5.7%18.0%0.252.6%
Real Estate (VNQ)5.5%20.7%0.2328.3%
Bitcoin (BTCUSD)59.0%66.2%0.9913.3%

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Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity0.8 Mil
Short Interest: % Change Since 5312026-33.4%
Average Daily Volume0.4 Mil
Days-to-Cover Short Interest2.1 days
Basic Shares Quantity135.7 Mil
Short % of Basic Shares0.6%

Earnings Returns History

Updated 6/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/20262.0%-5.2%-9.5%
2/3/202637.5%47.9%68.4%
11/4/2025-17.6%12.0%3.9%
9/9/2025-2.8%21.3%36.8%
5/6/202514.4%38.9%39.3%
2/4/2025-9.1%-8.9%-6.8%
11/5/20243.8%-5.4%-20.8%
9/10/2024-6.5%-3.7%-8.3%
...
SUMMARY STATS   
# Positive101211
# Negative11910
Median Positive5.0%13.0%15.9%
Median Negative-6.8%-5.6%-9.6%
Max Positive37.5%52.3%68.4%
Max Negative-24.9%-41.8%-43.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/5/20262.0%-5.2%-9.5%
2/3/202637.5%47.9%68.4%
11/4/2025-17.6%12.0%3.9%
9/9/2025-2.8%21.3%36.8%
5/6/202514.4%38.9%39.3%
2/4/2025-9.1%-8.9%-6.8%
11/5/20243.8%-5.4%-20.8%
9/10/2024-6.5%-3.7%-8.3%
5/7/20240.0%-5.6%13.4%
2/6/2024-3.9%-3.0%-8.1%
11/7/2023-2.0%14.0%1.8%
9/12/2023-2.9%8.0%-9.7%
5/9/20230.6%1.9%25.0%
2/7/20231.9%2.7%-15.2%
11/8/2022-11.4%3.9%10.4%
9/13/202222.0%52.3%17.8%
5/10/20226.2%1.1%12.6%
2/9/2022-16.9%-11.3%-9.5%
11/9/202111.8%26.9%15.9%
9/21/2021-24.9%-41.8%-43.9%
5/10/2021-6.8%-18.3%-19.6%
SUMMARY STATS   
# Positive101211
# Negative11910
Median Positive5.0%13.0%15.9%
Median Negative-6.8%-5.6%-9.6%
Max Positive37.5%52.3%68.4%
Max Negative-24.9%-41.8%-43.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202502/03/202610-Q
09/30/202511/04/202510-Q
06/30/202509/09/202510-K
03/31/202505/06/202510-Q
12/31/202402/04/202510-Q
09/30/202411/05/202410-Q
06/30/202409/10/202410-K
03/31/202405/07/202410-Q
12/31/202302/06/202410-Q
09/30/202311/07/202310-Q
06/30/202309/12/202310-K
03/31/202305/09/202310-Q
12/31/202202/07/202310-Q
09/30/202211/08/202210-Q
06/30/202209/13/202210-K
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202502/03/202610-Q
09/30/202511/04/202510-Q
06/30/202509/09/202510-K
03/31/202505/06/202510-Q
12/31/202402/04/202510-Q
09/30/202411/05/202410-Q
06/30/202409/10/202410-K
03/31/202405/07/202410-Q
12/31/202302/06/202410-Q
09/30/202311/07/202310-Q
06/30/202309/12/202310-K
03/31/202305/09/202310-Q
12/31/202202/07/202310-Q
09/30/202211/08/202210-Q
06/30/202209/13/202210-K
03/31/202205/10/202210-Q
12/31/202102/09/202210-Q
09/30/202111/09/202110-Q
06/30/202109/23/202110-K
03/31/202105/11/202110-Q
12/31/202003/05/2021424B4

Recent Forward Guidance

Updated 6/1/2026

Latest: Q3 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Census7,9008,0008,1000 AffirmedGuidance: 8,000 for 2026
2026 Total Member Months92,90094,30095,7000 AffirmedGuidance: 94,300 for 2026
2026 Revenue950.00 Mil962.50 Mil975.00 Mil2.7% RaisedGuidance: 937.50 Mil for 2026
2026 Adjusted EBITDA85.00 Mil87.50 Mil90.00 Mil20.7% RaisedGuidance: 72.50 Mil for 2026

Prior: Q2 2026 Earnings Reported 2/3/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Census7,9008,0008,1000 AffirmedGuidance: 8,000 for 2026
2026 Total Member Months92,90094,30095,7001.4% RaisedGuidance: 93,000 for 2026
2026 Revenue925.00 Mil937.50 Mil950.00 Mil1.4% RaisedGuidance: 925.00 Mil for 2026
2026 Adjusted EBITDA70.00 Mil72.50 Mil75.00 Mil19.8% RaisedGuidance: 60.50 Mil for 2026

Insider Activity

Updated 7/2/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Scarbrough, Michael AnthonyPresident and COODirectSell111720254.9033,000161,700586,123Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Scarbrough, Michael AnthonyPresident and COODirectSell111720254.9033,000161,700586,123Form
Core Cache Last Updated: 7/5/2026