InnovAge Holding (INNV) Operating Expenses (2020 - 2026)
InnovAge Holding's (INNV) quarterly Operating Expenses came in at $281.0 million in Q1 2026, up 23.09% YoY 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) Operating Expenses (2020 - 2026) Analysis & Trends
InnovAge Holding (INNV) has 7 years of Operating Expenses data on file, last reported at $281.0 million in Q1 2026.
- Quarterly Operating Expenses rose 23.09% year-over-year to $281.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $958.9 million (up 10.96% YoY) and the FY2025 annual result came in at $883.5 million, up 12.25% from the prior year.
- Operating Expenses grew to $281.0 million in Q1 2026, from $226.4 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $281.0 million in Q1 2026 to a low of $180.7 million in Q1 2023.
- A 5-year average of $206.6 million and a median of $198.9 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses fell 1.81% — and 2026, when it rose 23.09%.
- Tracing INNV's Operating Expenses over 5 years: stood at $181.1 million in 2022, then grew by 5.27% to $190.7 million in 2023, then rose by 16.19% to $221.6 million in 2024, then increased by 2.21% to $226.4 million in 2025, then increased 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 88.19 Bn | 90.61 Bn | 15.19 Bn | 17.74 Bn |
| 2 | Tenet Healthcare | 21.59 Bn | 21.56 Bn | 4.45 Bn | 3.00 Mn |
| 3 | Encompass Health | 12.19 Bn | 12.86 Bn | 1.34 Bn | 1.31 Bn |
| 4 | Davita | 11.52 Bn | 12.39 Bn | 1.16 Bn | 2.98 Bn |
| 5 | Ensign | 10.59 Bn | 10.27 Bn | 306.24 Mn | 1.32 Bn |
| 6 | Universal Health Services | 8.79 Bn | 8.72 Bn | 3.29 Bn | 4.12 Bn |
| 7 | Pacs | 7.04 Bn | 6.88 Bn | 338.46 Mn | 1.32 Bn |
| 8 | Chemed | 6.96 Bn | 6.92 Bn | 221.47 Mn | 584.05 Mn |
| 9 | Concentra Group Holdings Parent | 4.52 Bn | 4.38 Bn | 192.10 Mn | 490.51 Mn |
| 10 | InnovAge Holding | 1.44 Bn | 1.31 Bn | 174.27 Mn | 281.02 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |