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InnovAge Holding Second Quarter 2024 Earnings: Beats Expectations

InnovAge Holding (NASDAQ:INNV) Second Quarter 2024 Results

Key Financial Results

  • Revenue: US$188.9m (up 13% from 2Q 2023).

  • Net loss: US$3.45m (loss narrowed by 65% from 2Q 2023).

  • US$0.025 loss per share (improved from US$0.072 loss in 2Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

InnovAge Holding Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Healthcare industry in the US.

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Performance of the American Healthcare industry.

The company's shares are down 3.2% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on InnovAge Holding's balance sheet health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.