Innovage Announces Pricing Of Secondary Offering Of Common Stock By Selling Stockholders

Worthington Enterprises (NYSE:WOR) shares rose 15.9% in pre-market trading after reporting Q1 earnings of $0.82 per share, beating estimates of $0.75, and sales of $343.89M, exceeding expectations of $331.27M.

InnovAge Holding Corp. (INNV) shares dropped 9.43% in after-hours trading after announcing a secondary offering of 10 million shares at $9.25 each by selling stockholders. The company will not receive proceeds. Barclays, Goldman Sachs, and Wells Fargo are lead managers. INNV has a market cap of $1.45B and shares rose 121.52% over the past year.

InnovAge Holding Corp. (INNV) shares dropped 11.4% after hours as existing stockholders, including funds from Apax Partners and Welsh, Carson, Anderson & Stowe, announced a secondary offering of 10M shares. The company will not receive proceeds but will cover sale costs. Barclays, Goldman Sachs, and Wells Fargo are managing the offering.

InnovAge's stock fell 9.5% in after-hours trading after affiliated investment funds of Apax Partners and Welsh, Carson, Anderson & Stowe announced a secondary offering of 10 million shares. The company will not receive proceeds, signaling insider distribution. The broader market's performance did not mitigate the decline. InnovAge's Q4 revenue exceeded estimates, but earnings per share fell short. Barclays, Goldman Sachs, and Wells Fargo are managing the deal.

InnovAge reported Q4 2026 revenue of $262M (up 18.3% YoY) and net income of $9.78M, reversing a $5M loss from Q4 2025. Full-year revenue rose 15.9% to $989M, with a net loss of $683K, improved from $35.3M in 2025. CEO Patrick Blair highlighted operational improvements and growth investments, while CFO Benjamin Adams noted potential rate challenges in 2027.

InnovAge Holding Corp. (INNV) reported strong Q4 and fiscal 2026 results, with adjusted EBITDA up 175% YoY to $94.6M. Revenue rose 15.9% to $989.7M, and net income improved significantly. Management expects continued growth in fiscal 2027, with revenue guidance of $1.05B to $1.085B and adjusted EBITDA of $105M to $115M. The company highlighted operational improvements, cost reductions, and strategic investments.