← InnovAge Holding Corp.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net loss | — | — | $25.8m | ($44.7m) | ($8.0m) | ($43.6m) | ($23.2m) | ($35.3m) | — | |
| Net income | $106.7m |
$149.9m
+40.45%
|
$176.1m
+17.46%
|
$170.0m
-3.46%
|
$195.2m
+14.83%
|
— | — | — | ($15.5m) | |
| Depreciation and amortization | — | — | $11.3m | $12.3m | $13.9m | $15.4m | $18.9m | $19.5m | $18.2m | |
| Amortization of deferred financing costs | — | — | $550k | $1.1m | $429k | $429k | $429k | $429k | — | |
| Depreciation of property and equipment | $1.2m | $655k | $555k | $745k | $1.1m | $1.2m | $1.1m | $1.2m | $18.2m | |
| Amortization of intangible assets | $24k | $26k | $1.7m | $4.1m | $7.0m | $7.0m | $7.0m | $6.5m | — | |
| Amortization of right-of-use assets-operating lease | — | — | — | — | $6.3m | $7.1m | $7.3m | $6.6m | — | |
| Amortization of the Right-of-use assets | — | — | — | — | $6.3m | — | — | — | — | |
| Deferred income taxes | — | — | $3.2m | $6.4m | $2.1m | ($11.5m) | $1.2m | $1.3m | $1.3m | |
| Deferred tax benefit | $87k | ($191k) | $1.9m | $319k | ($1.4m) | ($4.5m) | ($1.5m) | ($88.2m) | — | |
| Stock-based compensation | — | — | $543k | $1.7m | $3.7m | $4.6m | $6.8m | $7.6m | $6.9m | |
| Taxes paid related to net settlements of stock-based compensation awards | ($3.5m) | ($7.0m) | $4.7m | $7.0m | $84k | $0 | ($1.3m) | ($1.9m) | — | |
| Impairments and loss on assets held for sale | — | — | — | — | — | — | $0 | $13.6m | — | |
| Impairment for goodwill | — | — | — | — | — | — | — | $186.2m | — | |
| Impairment for intangible assets | — | — | — | — | — | — | — | $398.8m | — | |
| Impairment of long-term investments | — | — | — | ($22.8m) | — | $11.8m | $10.4m | — | — | |
| (Loss) gain on cost and equity method investments | — | — | — | ($10.9m) | — | $0 | ($2.8m) | $1.4m | — | |
| Proceeds from dissolution of equity method investments | — | — | — | — | — | $0 | $4.8m | $1.3m | — | |
| Accounts receivable, net | $15.3m | $100.4m | ($1.2m) | $5.9m | ($9.5m) | $8.2m | ($30.3m) | $11.2m | $15.8m | |
| Accounts payable and accrued expenses | — | — | ($1.0m) | $6.1m | $17.4m | $34.9m | $1.4m | $20.4m | $28.8m | |
| Property and equipment included in accounts payable | — | $2k | $1.3m | $1.3m | $2.1m | $882k | $181k | $1.7m | — | |
| Accounts payable | $18.2m | ($54.5m) | $28.4m | $18.7m | $25.5m | ($43.1m) | ($37.2m) | ($19.3m) | $28.8m | |
| Deferred revenue | ($17.9m) | $1.9m | $2k | $15.8m | $22.4m | $28.1m | ($28.1m) | $0 | — | |
| Accrued salary and employee benefits | $316k | $4.6m | $8.0m | $6.4m | ($14.1m) | $2.3m | $7.6m | ($7.3m) | — | |
| Accrued expenses and other current liabilities | ($161k) | $6.5m | ($852k) | $3.8m | ($100.3m) | $7.3m | ($20.8m) | $1.6m | — | |
| Other | — | — | — | — | $0 | $167k | $1.4m | $1.7m | — | |
| Net cash provided by (used in) operating activities | $107.3m |
$228.9m
+113.34%
|
$43.8m
-80.85%
|
($7.5m)
-117.22%
|
$27.3m
+461.71%
|
$20.2m
-25.88%
|
($36.9m)
-282.34%
|
$32.9m
+189.07%
|
$52.4m
+59.51%
|
|
| Purchases of property and equipment | ($553k) | ($457k) | ($11.8m) | ($17.5m) | ($38.2m) | ($23.4m) | ($7.9m) | ($6.3m) | ($9.9m) | |
| Property and equipment purchased under capital leases | $553k | $457k | $1.4m | $3.5m | $8.1m | $9.1m | $4.1m | $1.5m | — | |
| Loss from disposal of property and equipment | — | $2k | $1.3m | $1.3m | $2.1m | $5k | $2k | $1.7m | — | |
| Purchases of short-term investments | — | — | — | — | $0 | ($46.2m) | ($2.4m) | ($2.1m) | — | |
| Proceeds from sale of short-term investments | — | — | — | — | — | $0 | $3.0m | $6.3m | — | |
| Investments loss (income) | — | — | — | $3.0m | ($25.4m) | $31.3m | $5.7m | ($8.7m) | — | |
| Proceeds from long term investments | — | — | — | — | — | $521k | $444k | $150.2m | — | |
| Payment for long term investments | — | ($5.0m) | — | ($113.7m) | ($107.0m) | ($63.9m) | ($19.5m) | ($156.0m) | — | |
| Cash acquired from acquisitions | — | — | $10.2m | — | $9.7m | $212k | — | $1.8m | — | |
| Non-controlling interests from acquisitions | — | — | — | — | — | ($288k) | — | ($869k) | — | |
| Net cash used in investing activities | ($553k) | ($5.5m) | ($11.7m) | ($19.5m) | ($40.2m) | ($69.5m) | ($26.4m) | ($5.5m) | ($6.5m) | |
| Principal payments on long-term debt | — | — | ($1.9m) | ($512.7m) | ($3.8m) | ($3.8m) | ($3.8m) | ($3.8m) | — | |
| Dividend distributions to shareholders | ($228.5m) | ($104.6m) | — | — | — | — | — | — | — | |
| Non-cash dividend distribution to shareholders | $104.6m | — | — | — | — | — | — | — | — | |
| Net cash used in financing activities | ($170.9m) |
($151.4m)
+11.42%
|
$21.2m
+114.03%
|
$116.2m
+447.40%
|
($6.3m)
-105.44%
|
($7.9m)
-24.98%
|
($7.0m)
+10.92%
|
($19.1m)
-171.28%
|
($9.7m)
+49.34%
|
|
| INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS & RESTRICTED CASH | ($64.2m) | $72.1m | $53.4m | $89.1m | ($19.3m) | ($57.2m) | ($70.3m) | $7.2m | ||
| CASH, CASH EQUIVALENTS & RESTRICTED CASH, BEGINNING OF PERIOD | $114.6m | $203.7m | $184.4m | $127.3m | $57.0m | $64.1m | ||||
| Cash and cash equivalents at beginning of the year | $129.4m | $65.3m | $137.4m | $224.8m | $240.9m | $175.3m | — | — | — | |
| Net change in cash, cash equivalents and restricted cash including cash of $1.05 million reclassified to assets held for sale | — | — | — | — | — | — | ($70.3m) | $8.2m | — | |
| Less: change in cash and restricted cash reclassified to assets held for sale | — | — | — | — | — | — | $0 | ($1.1m) | — | |
| Effect of foreign exchange rate changes on cash | — | — | ($3.8m) | ($282k) | $1.5m | ($108k) | ($1.5m) | ($9.2m) | — | |
| Additional Supplementary Disclosures | ||||||||||
| Additional Supplementary Disclosures | ||||||||||
| Loss on disposal of assets | — | — | $1.0m | $18k | $305k | $1.1m | $78k | $508k | — | |
| Provision for uncollectible accounts | $6.8m | $854k | $6.2m | $8.6m | $6.2m | $3.3m | $7.0m | $524k | — | |
| Operating lease rentals | — | — | — | — | $0 | $4.6m | $5.3m | $6.4m | — | |
| Prepaid expenses | ($24.4m) | $18.6m | ($1.1m) | ($5.0m) | ($4.7m) | ($3.3m) | ($703k) | ($4.0m) | — | |
| Income tax receivable | — | — | $2.0m | ($3.7m) | ($1.4m) | $6.5m | ($3.1m) | $14k | — | |
| Deposits and other | $66k | ($258k) | $1.1m | ($874k) | ($475k) | ($1.3m) | ($2.8m) | ($6.4m) | — | |
| Reported and estimated claims | — | — | $2.0m | $2.6m | $5.2m | $4.5m | $12.3m | $3.6m | — | |
| Due to Medicaid and Medicare | — | — | ($8.1m) | ($5.2m) | $2.0m | $12k | $6.1m | ($814k) | — | |
| Income taxes payable | $1.0m | $419k | $146k | ($299k) | $0 | $1.2m | ($1.2m) | $0 | — | |
| Operating lease liabilities | — | — | — | — | $0 | ($5.2m) | ($5.6m) | ($8.7m) | — | |
| Acquisition of business | — | — | — | — | — | $0 | ($23.9m) | ($4.8m) | — | |
| Payments for finance lease obligations | — | — | ($1.8m) | ($1.8m) | ($2.5m) | ($4.1m) | ($4.6m) | ($6.1m) | — | |
| Repurchase of equity securities | — | — | — | — | — | $0 | ($179k) | ($7.3m) | — | |
| Contribution from joint venture partner | — | — | — | — | — | $0 | $2.9m | $0 | — | |
| Interest paid | — | — | $11.6m | $18.0m | $1.5m | $4.0m | $4.1m | $4.3m | $4.2m | |
| Income taxes paid | ($3.5m) | ($7.0m) | $4.7m | $7.0m | $84k | $13k | $4.5m | $1k | — | |
| Change in fair value of contingent consideration | — | — | $14.1m | $33.6m | ($13.1m) | $5.6m | — | — | — | |
| Change in fair value of warrant liabilities | — | — | ($3.9m) | ($16.4m) | ($10.8m) | ($170k) | — | — | — | |
| Change in fair value of investment in marketable security | — | — | — | ($25.8m) | ($1.8m) | $9.0m | ($6.1m) | $29.1m | — | |
| Capital contribution by non-controlling shareholders | — | — | — | — | — | $1.8m | $245k | — | — | |
| Proceeds from (advance to) related parties | — | — | — | — | — | $760k | $355k | ($100k) | — | |
| Proceeds from bank loan | — | — | — | — | $5.0m | $5.0m | — | — | — | |
| Repayment of bank loan | — | — | — | — | — | ($10.0m) | — | — | — | |
| Share repurchase | — | — | — | — | ($16.5m) | ($2.7m) | ($736k) | — | — | |
| Issuance of Class A ordinary shares for achievement of earnout target | — | — | — | $200.1m | $117.3m | $13.1m | $10.0m | — | — | |
| Shares to be issued for achievement of earnout target | — | — | $200.1m | $128.1m | $13.1m | $10.0m | — | — | — | |
| Right-of-assets obtained in exchange for operating lease obligations | — | — | — | — | $25.5m | — | — | $16.4m | — | |
| Payment for acquisition | — | — | — | — | ($13.8m) | ($3.5m) | — | — | — | |
| Recognition of contingent consideration | — | — | $306.6m | — | $19.9m | — | — | — | — | |
| Issuance of Class A ordinary shares for acquisition | — | — | $175.0m | — | $127.5m | — | — | — | — | |
| Issuance of Class B ordinary shares for achievement of earnout target | — | — | — | — | $10.9m | $13.1m | $10.0m | — | — | |
| Shares to be issued for Weiliantong Acquisition | — | — | — | — | $20.8m | — | — | — | — | |
| Non-controlling interests from Acquisition of SJ Verse Global Media LLC | — | — | — | — | — | ($288k) | — | — | — | |
| Payment to acquisition | — | — | ($50.0m) | — | ($13.8m) | ($3.5m) | — | — | — | |
| Net proceeds from private placement | — | — | — | $15.3m | — | — | — | — | — | |
| Repayment for bank loan | — | — | ($57.4m) | — | — | ($10.0m) | — | — | — | |
| Conversion of convertible notes and rights | — | — | $4.0m | $13.5m | — | — | — | — | — | |
| Net cash acquired in the reverse recapitalization | — | — | $32.7m | — | — | — | — | — | — | |
| Repayments from related parties | $59.2m | $31.0m | $22.3m | — | — | — | — | — | — | |
| Loan to related parties | — | ($44.1m) | ($14.0m) | — | — | — | — | — | — | |
| Payment of listing cost | — | ($1.3m) | ($6.9m) | — | — | — | — | — | — | |
| Issuance of Class A ordinary shares for settlement of underwriting fee | — | — | $14.1m | — | — | — | — | — | — | |
| Issuance of Class A ordinary shares to underwriter and advisors | — | — | $18.7m | — | — | — | — | — | — | |
| Capital distribution due to reorganization | ($10.0m) | ($32.3m) | — | — | — | — | — | — | — | |
| Issuance of Class A ordinary shares for BeeLive acquisition | — | — | $175.0m | — | — | — | — | — | — | |
| Capital contribution | $8.4m | — | — | — | — | — | — | — | — | |
| Cash and cash equivalents at end of the year | $65.3m | $137.4m | $224.8m | — | — | — | — | — | — |