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InnovAge Holding Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

InnovAge Holding (NASDAQ:INNV) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$193.1m (up 12% from 3Q 2023).

  • Net loss: US$5.89m (loss narrowed by 11% from 3Q 2023).

  • US$0.043 loss per share (improved from US$0.049 loss in 3Q 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 Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Healthcare industry in the US.

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Performance of the American Healthcare industry.

The company's shares are up 4.4% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on InnovAge Holding's balance sheet.

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.