Growth Metrics

InnovAge Holding (INNV) Operating Expenses (2020 - 2026)

InnovAge Holding posted quarterly Operating Expenses of $281.0 million for Q1 2026, up 23.09% year-on-year from $228.3 million in Q1 2025, and up 24.1% on a QoQ basis from $226.4 million in Q4 2025.

InnovAge Holding (INNV) has 7 years of Operating Expenses data on file, last reported at $281.0 million in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses rose 23.09% year-over-year to $281.0 million; the trailing twelve-month figure through Mar 2026 stood at $958.9 million (up 10.96% YoY), and the FY2025 full-year result was $883.5 million, up 12.25% from the prior year.
  • Operating Expenses for Q1 2026 stood at $281.0 million, up from $226.4 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $281.0 million in Q1 2026 and bottomed at $180.7 million in Q1 2023.
  • The 5-year median for Operating Expenses is $198.9 million (2024), against an average of $206.6 million.
  • The widest annual swing landed in 2023, when Operating Expenses fell 1.81%; it then rose 23.09% in 2026.
  • A 5-year view of Operating Expenses shows it stood at $181.1 million in 2022, then increased by 5.27% to $190.7 million in 2023, then gained by 16.19% to $221.6 million in 2024, then rose by 2.21% to $226.4 million in 2025, then rose by 24.1% to $281.0 million in 2026.
  • The last three Operating Expenses figures came in at $281.0 million (Q1 2026), $226.4 million (Q4 2025), and $227.8 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 HCA Healthcare 84.64 Bn 87.02 Bn 16.26 Bn 16.82 Bn
2 Tenet Healthcare 15.22 Bn 14.39 Bn 4.41 Bn 27.00 Mn
3 Davita 13.10 Bn 13.96 Bn 1.07 Bn 2.93 Bn
4 Encompass Health 10.50 Bn 11.12 Bn 1.34 Bn 1.29 Bn
5 Ensign 9.69 Bn 9.09 Bn 293.37 Mn 1.26 Bn
6 Universal Health Services 8.92 Bn 8.88 Bn 3.21 Bn 3.99 Bn
7 Fresenius Medical Care AG 7.31 Bn 4.93 Bn 22,843.10 Bn 820.65 Mn
8 Chemed 5.83 Bn 5.81 Bn 215.76 Mn 572.94 Mn
9 Pacs 5.76 Bn 5.51 Bn 345.96 Mn 1.30 Bn
10 InnovAge Holding 1.03 Bn 938.20 Mn 243.20 Mn 281.02 Mn

Historic Data

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DateValue
Mar 31, 2026 281.02 Mn
Dec 31, 2025 226.45 Mn
Sep 30, 2025 227.82 Mn
Jun 30, 2025 223.57 Mn
Mar 31, 2025 228.30 Mn
Dec 31, 2024 221.56 Mn
Sep 30, 2024 210.04 Mn
Jun 30, 2024 204.28 Mn
Mar 31, 2024 198.86 Mn
Dec 31, 2023 190.68 Mn
Sep 30, 2023 193.20 Mn
Jun 30, 2023 187.82 Mn
Mar 31, 2023 180.71 Mn
Dec 31, 2022 181.14 Mn
Sep 30, 2022 187.82 Mn
Jun 30, 2022 185.21 Mn
Mar 31, 2022 184.03 Mn
Dec 31, 2021 172.40 Mn
Sep 30, 2021 161.41 Mn
Jun 30, 2021 160.95 Mn
Mar 31, 2021 161.67 Mn
Dec 31, 2020 136.77 Mn
Sep 30, 2020 190.75 Mn
Jun 30, 2020 132.32 Mn
Mar 31, 2020 131.80 Mn