INNOVAGE ANNOUNCES FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FISCAL YEAR ENDED JUNE 30, 2026 (Form 8-K)

INNOVAGE ANNOUNCES FINANCIAL RESULTS FOR THE

FOURTH QUARTER AND FISCAL YEAR ENDED JUNE 30, 2026

DENVER, CO., September 8, 2026 - InnovAge Holding Corp. ("InnovAge" or the "Company") (Nasdaq: INNV), an industry leader in providing comprehensive healthcare programs to frail, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE), today announced financial results for its fiscal fourth quarter and full year ended June 30, 2026.

"Fiscal 2026 was an exceptional year for InnovAge and reflects the significant progress we have made strengthening the company," said Patrick Blair, Chief Executive Officer of InnovAge. "We enter Fiscal 2027 in a strong position, with a durable foundation to serve more seniors and to deliver high-quality care. We remain focused on disciplined execution and creating sustainable long-term value for all of our stakeholders."

Financial Results

			Three Months Ended												Year Ended
			June 30, 2026						June 30, 2025						June 30, 2026						June 30, 2025
in thousands, except percentages and per share amounts
Total revenues			$	261,951					$	221,417					$	989,707					$	853,699
Income (Loss) Before Income Taxes			9,667						(4,202)						266						(34,027)
Net Income (Loss)			9,783						(5,009)						(683)						(35,343)
Net Income (Loss) margin			3.7		%				(2.3)		%				(0.1)		%				(4.1)		%
Net Income (Loss) Attributable to InnovAge Holding Corp.			$	8,287					$	(785)					$	(2,537)					$	(30,313)
Net Income (Loss) per share - basic and diluted			0.06						(0.01)						(0.02)						(0.22)
Center-level Contribution Margin(1)			$	62,562					$	41,287					$	227,764					$	153,639
Adjusted EBITDA(1)			24,282						11,326						94,571						34,462
Adjusted EBITDA margin(1)			9.3		%				5.1		%				9.6		%				4.0		%

Fiscal Year 2026 Financial Performance

•Total revenues of $989.7 million, increased approximately 15.9% compared to $853.7 million in 2025

•Income Before Income Taxes of $0.3 million, increased by 100.8% compared to a Loss Before Income Taxes of $34.0 million in 2025

•Income Before Income Taxes as a percent of revenue increased 4.0 percentage points compared to a Loss Before Income Tax as a percent of revenue of 4.0% in 2025

•Net loss of $0.7 million decreased 98%, compared to a net loss of $35.3 million in 2025

•Net loss margin of 0.1%, increased 4.1 percentage points compared to a net loss margin of 4.1% in 2025

•Net loss attributable to InnovAge Holding Corp. of $2.5 million, or loss of $0.02 per share, compared to a net loss of $30.3 million, or loss of $0.22 per share in 2025

•Center-level Contribution Margin(1) of $227.8 million, increased 48.3% compared to $153.6 million in 2025

•Center-level Contribution Margin(1) as a percent of revenue of 23.0%, increased 5.0 percentage points compared to 18.0% in 2025

•Adjusted EBITDA(1) of $94.6 million, an increase of $60.1 million compared to $34.5 million in 2025

•Adjusted EBITDA(1) margin of 9.6%, an increase of 5.5 percentage points compared to 4.0% in 2025

•Census of approximately 8,230 participants compared to 7,740 participants in 2025

•Member months of approximately 96,050 compared to 89,130 in 2025

(1) Center-level Contribution Margin, Center-level Contribution Margin as a percent of revenue, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures. For more details and for a definition and reconciliation of these non-GAAP measures to the most closely comparable GAAP measures for the periods indicated, see "Note Regarding Use of Non-GAAP Financial Measures" and "Reconciliation of GAAP and Non-GAAP Measures."

Full Fiscal Year 2027 Financial Guidance

Based on information as of today, September 8, 2026, InnovAge is issuing the following financial guidance.

			Low						High
			dollars in millions
Census			8,625						8,850
Total Member Months(1)			101,000						102,500
Total revenues			$	1,050					$	1,085
Adjusted EBITDA(2)			105						115

Expected results and estimates may be impacted by factors outside the Company's control, and actual results may be materially different from this guidance. See "Forward-Looking Statements - Safe Harbor" included herein.

(1) We define Total Member Months as the total number of participants multiplied by the number of months within the respective reporting period in which each participant was enrolled in our program. Management believes this is a useful metric as it more precisely tracks the number of participants the Company serves throughout the year.

(2)Adjusted EBITDA is a non-GAAP measure. See "Note Regarding Use of Non-GAAP Financial Measures" and "Reconciliation of GAAP and Non-GAAP Measures" for a definition of historical Adjusted EBITDA and a reconciliation to net income (loss), the most closely comparable GAAP measure. The Company is unable to provide guidance for net income (loss) or a reconciliation of the Company's Adjusted EBITDA guidance because it cannot provide a meaningful or accurate calculation or estimation of certain reconciling items without unreasonable effort. The Company's inability to do so is due to the inherent difficulty in forecasting and quantifying certain amounts that

are necessary for such reconciliation, including variations in effective tax rate, expenses to be incurred for acquisition activities and other one-time or exceptional items.

Conference Call

The Company will host a conference call this afternoon at 5:00 p.m. Eastern Time. A live audio webcast of the call will be available on the Company's website, https://investor.innovage.com/. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for a limited time. To access the call by phone, please go to this link (registration link), for dialing instructions and a unique access pin. We encourage participants to dial into the call fifteen minutes ahead of the scheduled start time.

About InnovAge

InnovAge is a market leader in managing the care of high-cost, frail, and predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE). With a mission of enabling older adults to age independently in their own homes for as long as safely possible, InnovAge's patient-centered care model is designed to improve the quality of care its participants receive while reducing over-utilization of high-cost care settings. InnovAge believes its PACE healthcare model is one in which all constituencies - participants, their families, providers and government payors - "win." As of June 30, 2026, InnovAge served approximately 8,230 participants across 20 centers in six states. https://www.innovage.com/.

Investor Contact:

Ryan Kubota

[email protected]

Media Contact:

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