InnovAge Holding Corp 2026 Year Quarterly Report

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” 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 for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. As of January30, 2026, there were 135,699,471 of the registrant’s common stock outstanding. Part IFinancial Information Item 1.Financial Statements (Unaudited)Condensed Consolidated Balance Sheets as of December 31, 2025 (Unaudited) and June 30, 2025Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2025and 2024 (Unaudited)Condensed Consolidated Statements of Stockholders’ Equity for the three and six months ended December31, 2025 and 2024 (Unaudited)Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2025 and 2024(Unaudited)Notes to Condensed Consolidated Financial Statements as of December 31, 2025 (Unaudited)Item 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPart IIOther InformationItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsExhibit IndexSignatures Table of Contents InnovAge Holding Corp. and SubsidiariesQuarterly Report on Form 10-Q Cautionary Note on Forward-Looking Statements Throughout this Quarterly Report on Form 10-Q, we make “forward-looking statements” within the meaning of the U.S. PrivateSecurities Litigation Reform Act of1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). This Quarterly Report contains forward-lookingstatements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this QuarterlyReport on Form 10-Q are forward-looking statements. Forward-looking statements give our current expectations and projectionsrelating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the 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 •the viability of our growth strategy, including our ability to find suitable geographies for new centers and obtain licenses toopen such centers (including in Downey and Bakersfield, California), our ability to ramp up our de novo centers (including in Florida), and the outcome of our organizational and enterprise efficiency initiatives;•our ability to identify, successfully complete and integrate acquisitions, joint ventures and strategic partnerships;•our ability to attract new participants and retain existing participants to implement our growth strategy;•the impact on our business from ongoing macroeconomic related challenges, including labor shortages, labor competition,inflation, tariffs and trade disputes;•the results of periodic inspections, reviews, audits and investigations under the federal and state government programs, andour ability to sufficiently cure any deficiencies identified by the respective federal and state government programs;•the adverse impact of legal proceedings, enforcement actions and litigation and disputes, including the current civilinvestigative demands initiated by federal and state agencies, as well as the litigation and other proceedings initiated by, or onbehalf, of our stockholders;•the risk that the cost of providing services will exceed our compensation under the Program of All Inclusive Care for theElderly (“PACE”);•our increased costs and expenditures and our inability to execute or realize the benef