On this page of StockholderLetter.com we present the 10/27/2023 shareholder letter from InnovAge Holding Corp. — ticker symbol INNV. Reading current and past INNV letters to shareholders can bring important insights into the investment thesis.

 •  10/27/2023 Letter Continued (Full PDF)
 •  10/25/2024 INNV Stockholder Letter
 •  10/23/2025 INNV Stockholder Letter
 •  More "Diagnostics" Category Stockholder Letters
 •  INNV Benford's Law Stock Score = 100

INNV 10/27/2023 Shareholder/Stockholder Letter Transcript:

PROGRAM OF ALL-INCLUSIVE CARE FOR THE ELDERLY     PACE
ANNUAL
REPORT
2023
InnovAge.com

We are a value-based
provider serving
high-cost seniors with
complex medical needs
who meet a nursing home
level of care.

We deliver comprehensive, personalized care which includes all Medicare
and Medicaid services
We believe we can deliver better health outcomes, improved quality, and
increased satisfaction while lowering costs
We leverage a comprehensive care model, integrating multiple streams of
resources, to enable individuals to live in their homes and communities
BY THE
NUMBERS
As of 06/30/2023
17 CENTERS
5 STATES
~6,400
PARTICIPANTS
$688mm
2.2mm

Addressable Lives
FY2023 Total Revenue
(1)
$235bn
$ $101mm
Addressable Market
Opportunity (2)




Center-Level Contribution
Margin(3)
$(1.3)mm
Adjusted EBITDA(3)
(0.2)%
Adjusted EBITDA Margin(3)
(1) Based on data from the U.S. Census Bureau from 2018.
(2) Based on internal estimates.
(3) Center-Level Contribution Margin, Adjusted EBITDA and Adjusted EBITDA margin are
non-GAAP measures. For a de   nition and reconciliation of these non-GAAP measures
to the most closely comparable GAAP measures for the periods indicated, see    Note
Regarding Use of Non-GAAP Financial Measures    and    Reconciliation of GAAP and
Non-GAAP Measures    in the attached Form 10-K

ANNUAL
REPORT

2023

ANNUAL MEETING
The Annual Meeting will be held on Wednesday, December 13, 2023 at 9:00 AM ET, virtually at
www.virtualshareholdermeeting.com/INNV2023.
Stockholders will be able to submit questions and vote electronically during the meeting by logging in using
the 16-digit control number included on the Notice of Internet availability of proxy materials, proxy card, or
voter instruction form.
Board of Directors
James G. Carlson
Chairmen of the Board
Teresa Sparks
Director
Patricia Fontneau
Director
Andrew Cavanna
Director
Marilyn Tavenner
Director
Ted Kennedy, Jr.
Director
Thomas Scully
Director
John Ellis Bush
Director
Richard Zoretic
Director
Richard Feifer
Chief Medical Officer
Nicole D   Amato
Chief Legal Officer and
Corporate Secretary
Executive Officers
Patrick Blair
President and Chief
Executive Officer
Benjamin C. Adams
Chief Financial Officer
Common Stock Listed (INNV)
NASDAQ Stock Exchange
Christine Bent
Chief Operations Officer
Independent Accountants
Deloitte & Touche LLP
1601 Wewatta Street, Suite 400
Denver, CO 80203
(303) 292-5400
www.deloitte.com
Transfer Agent
Equiniti Trust Company, LLC
6201 15th Avenue
Brooklyn, NY 11219
Toll Free: 1-800-401-1957
https://equiniti.com/us/ast-access/

10/27/2023 Letter Continued (Full PDF)

 

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