InnovAge's first quarter 2027 revenue and EPS beat expectations as census growth reached 8,420

InnovAge delivered a strong start to fiscal 2027, reporting double-digit revenue growth and a significant bottom-line improvement that surpassed consensus estimates. Total revenue rose 12.1% year-over-year, supported by robust participant enrollment and disciplined operational execution that drove meaningful margin expansion across the PACE center network.

Key Highlights

• Total Census grew to 8,420 participants, a 6.7% increase over the prior-year period and significantly ahead of the 7,150 estimated.
• Adjusted EBITDA surged by $13.6 million year-over-year to $31.3 million, resulting in an Adjusted EBITDA margin expansion of 430 basis points to 11.8%.
• Center-level contribution margin reached 24.0%, up from 21.8% in the first quarter of fiscal 2026, reflecting improved clinical value initiatives and cost management.