By Ben Glickman
Shares of InnovAge Holding fell after the company posted a wider-than-expected loss in the fiscal fourth quarter.
The stock was down 6.9% to $6.05 in after-hours trading Tuesday. Shares are down 9.5% this year.
The Denver-based company, which provides healthcare programs for seniors through the Program of All-Inclusive Care for the Elderly, posted a fiscal fourth-quarter loss of $11.18 million, or 9 cents a share, compared with a loss of $12.71 million, or 9 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 4 cents.
InnovAge logged revenue of $176.9 million, up from $172.9 million a year earlier. Analysts polled by FactSet expected revenue of $175.8 million.
The company said it expects fiscal 2024 revenue between $725 million and $775 million, roughly in line with the $748.9 million forecast by analysts.
Write to Ben Glickman at [email protected]
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