InnovAge Holding Corp 2025年季度报告

InnovAge Holding Corp.(Exact name of registrant as specified in its charter)_______________________________________________________ Securities registered pursuant to Section 12(b) of the Securities Act: Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNoAs of April 30, 2025, there were 135,012,952 of the registrant’s common stock outstanding. TABLE OF CONTENTS Part IFinancial InformationItem 1.Financial Statements (Unaudited)5Condensed Consolidated Balance Sheets as of March31, 2025(Unaudited) and June30, 20245Condensed Consolidated Statements of Operations for the three and ninemonths endedMarch31, 2025and 2024(Unaudited)6Condensed Consolidated Statements of Stockholders’ Equity for the three andninemonths ended March31, 2025and 2024(Unaudited)7Condensed Consolidated Statements of Cash Flows for the ninemonths endedMarch31, 2025and 2024(Unaudited)9Notes to Condensed Consolidated Financial Statements as of March31,2025(Unaudited)11Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations31Item 3.Quantitative and Qualitative Disclosures About Market Risk45Item 4.Controls and Procedures46Part IIOther Information47Item 1.Legal Proceedings47Item 1A.Risk Factors47Item 2.Unregistered Sales of Equity Securities and Use of Proceeds47Item 3.Defaults Upon Senior Securities47Item 4.Mine Safety Disclosures47Item 5.Other Information47Item 6.Exhibits48Exhibit Index48 Table of Contents InnovAge Holding Corp. and SubsidiariesQuarterly Report on Form 10-QFor the quarterly period ended March 31, 2025 Cautionary Note on Forward-Looking StatementsThroughout this Quarterly Report on Form 10-Q, we make “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the“Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). ThisQuarterly Report contains forward-looking statements that are subject to risks and uncertainties. All statements otherthan statements of historical fact included in this Quarterly Report on Form 10-Q are forward-looking statements.Forward-looking statements give our current expectations and projections relating to our financial condition, resultsof operations, plans, objectives, future performance and business. You can identify forward-looking statements bythe fact that they do not relate strictly to historical or current facts. These statements may include words such as“anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,”“likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature offuture operating or financial performance or other events. For example, all statements we make relating to ourestimated and projected costs, expenditures, cash flows, growth rates and financial results, our plans and objectivesfor future operations, growth opportunities or initiatives, strategies, the expected outcome or impact of pending orthreatened litigation or the expected impact of government policies and the macroeconomic environment areforward-looking statements. All forward-looking statements are subject to risks and uncertainties that may causeactual results to differ materially from those that we expected, including: •the viability of our growth strategy, including our ability to attract new participants and retain existingparticipants in new and existing centers and our ability to obtain licenses to open de novo centers, includingin Downey and Bakersfield, California;•the impact on our business from ongoi