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).
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.
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.
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