← InnovAge Holding Corp.

Annual Trend FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Net income $106.7m $149.9m $176.1m $170.0m $195.2m — — —
Depreciation and amortization — — $11.3m $12.3m $13.9m $15.4m $18.9m $19.5m
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
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
Deferred tax benefit $87k ($191k) $1.9m $319k ($1.4m) ($4.5m) ($1.5m) ($88.2m)
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 —
Operating lease rentals — — — — $0 $4.6m $5.3m $6.4m
(Loss) gain on cost and equity method investments — — — ($10.9m) — $0 ($2.8m) $1.4m
Operating lease liabilities — — — — $0 ($5.2m) ($5.6m) ($8.7m)
Proceeds from dissolution of equity method investments — — — — — $0 $4.8m $1.3m
Loss from disposal of property and equipment — $2k $1.3m $1.3m $2.1m $5k $2k $1.7m
Right-of-assets obtained in exchange for operating lease obligations — — — — $25.5m — — $16.4m
Net loss — — $25.8m ($44.7m) ($8.0m) ($43.6m) ($23.2m) ($35.3m)
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
Stock-based compensation — — $543k $1.7m $3.7m $4.6m $6.8m $7.6m
Other — — — — $0 $167k $1.4m $1.7m
Accounts receivable, net $15.3m $100.4m ($1.2m) $5.9m ($9.5m) $8.2m ($30.3m) $11.2m
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)
Accounts payable and accrued expenses — — ($1.0m) $6.1m $17.4m $34.9m $1.4m $20.4m
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
Deferred revenue ($17.9m) $1.9m $2k $15.8m $22.4m $28.1m ($28.1m) $0
Purchases of property and equipment ($553k) ($457k) ($11.8m) ($17.5m) ($38.2m) ($23.4m) ($7.9m) ($6.3m)
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
Property and equipment included in accounts payable — $2k $1.3m $1.3m $2.1m $882k $181k $1.7m
Property and equipment purchased under capital leases $553k $457k $1.4m $3.5m $8.1m $9.1m $4.1m $1.5m
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 — — — — ($1.8m) $9.0m ($6.1m) $29.1m
Investments loss (income) — — — $3.0m ($25.4m) $31.3m $5.7m ($8.7m)
Accounts payable $18.2m ($54.5m) $28.4m $18.7m $25.5m ($43.1m) ($37.2m) ($19.3m)
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
Cash acquired from acquisitions — — $10.2m — $9.7m $212k — $1.8m
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)
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 — —
Non-controlling interests from acquisitions — — — — — ($288k) — ($869k)
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) — —
Change in fair value of investment — — — ($25.8m) ($1.8m) $9.0m — —
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 — — — — — — —
Net cash provided by (used in) operating activities $107.3m $228.9m $43.8m ($7.5m) $27.3m $20.2m ($36.9m) $32.9m
Purchases of short-term investments — — — — $0 ($46.2m) ($2.4m) ($2.1m)
Proceeds from sale of short-term investments — — — — — $0 $3.0m $6.3m
Net cash used in investing activities ($553k) ($5.5m) ($11.7m) ($19.5m) ($40.2m) ($69.5m) ($26.4m) ($5.5m)
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) $21.2m $116.2m ($6.3m) ($7.9m) ($7.0m) ($19.1m)
Effect of foreign exchange rate changes on cash — — ($3.8m) ($282k) $1.5m ($108k) ($1.5m) ($9.2m)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS & RESTRICTED CASH ($64.2m) $72.1m $53.4m $89.1m ($19.3m) ($57.2m) ($70.3m) $7.2m
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)
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 — —
Cash and cash equivalents at end of the year $65.3m $137.4m $224.8m — — — — —
Interest paid — — $11.6m $18.0m $1.5m $4.0m $4.1m $4.3m
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)
Income taxes paid ($3.5m) ($7.0m) $4.7m $7.0m $84k $13k $4.5m $1k

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.