What is InnovAge Holdings, Inc.'s net debt?

InnovAge Holdings, Inc. (INNV) reported net debt of -$1.7M in Q1 2026.

How has InnovAge Holdings, Inc.'s net debt changed year-over-year?

InnovAge Holdings, Inc.'s net debt decreased by 103.8% year-over-year, from $44.92M to -$1.7M.

What is the long-term trend for InnovAge Holdings, Inc.'s net debt?

Over 4 years (2021 to 2025), InnovAge Holdings, Inc.'s net debt has grown at a -25.7% compound annual growth rate (CAGR), from -$121.07M to $36.94M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

InnovAge Holdings, Inc. INNV Net debt

Discontinued — last reported Q3 '26

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Other financials

Income statement

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Revenue$251.9M+15.5%

Operating income-$29.1M-186%

Net income-$29.5M-159%

EPS (diluted)-$0.22-175%

Balance sheet

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Cash & equivalents$95.5M+58.0%

Total debt$93.8M-11.0%

Total equity$229.0M-3.8%

Total assets$547.4M+2.0%

Cash flow

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Operating cash flow$18.1M-26.3%

CapEx$3.6M+24.3%

Free cash flow$14.5M-33.1%

Valuation

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Market cap$1.31B+150%

Enterprise value$1.31B+130%

P/S1.4×+0.7×

Profitability

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Operating margin-1%-0.4pp

Net margin-1.2%-0.5pp

FCF margin4.5%+2.6pp

Returns & leverage

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Return on equity-5%-1.8pp

Debt / equity0.4×0.0×

Current ratio1×+0.3×

Where this comes from

Calculated from InnovAge Holdings, Inc.’s reported figures.

$93.8Mtotal debt−$95.5Mcash and equivalents=-$1.7M

The official record: InnovAge Holdings, Inc.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is InnovAge Holdings, Inc.'s net debt?: InnovAge Holdings, Inc. (INNV) reported net debt of -$1.7M in Q1 2026.
How has InnovAge Holdings, Inc.'s net debt changed year-over-year?: InnovAge Holdings, Inc.'s net debt decreased by 103.8% year-over-year, from $44.92M to -$1.7M.
What is the long-term trend for InnovAge Holdings, Inc.'s net debt?: Over 4 years (2021 to 2025), InnovAge Holdings, Inc.'s net debt has grown at a -25.7% compound annual growth rate (CAGR), from -$121.07M to $36.94M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.