XML 235 R3.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Jun. 30, 2022
Current Assets    
Cash and cash equivalents $ 127,249 $ 184,429
Short-term investments 46,213 0
Restricted cash 16 17
Accounts receivable, net of allowance ($4,161 – June 30, 2023 and $3,403 – June 30, 2022) 24,344 35,907
Prepaid expenses 17,145 13,842
Income tax receivable 262 6,761
Total current assets 215,229 240,956
Noncurrent Assets    
Property and equipment, net 192,188 176,260
Operating lease assets 21,210 0
Investments 5,493 5,493
Deposits and other 3,823 2,812
Goodwill 124,217 124,217
Other intangible assets, net 5,198 5,858
Total noncurrent assets 352,129 314,640
Total assets 567,358 555,596
Current Liabilities    
Accounts payable and accrued expenses 54,935 50,562
Reported and estimated claims 42,999 38,454
Due to Medicaid and Medicare 9,142 9,130
Income tax payable 1,212 0
Current portion of long-term debt 3,795 3,793
Current portion of finance lease obligations 4,722 3,368
Current portion of operating lease obligations 3,530 0
Deferred revenue 28,115 0
Total current liabilities 148,450 105,307
Noncurrent Liabilities    
Deferred tax liability, net 6,236 17,761
Finance lease obligations 13,114 9,440
Operating lease obligations 18,828 0
Other noncurrent liabilities 1,086 1,134
Long-term debt, net of debt issuance costs 64,844 68,210
Total liabilities 252,558 201,852
Commitments and Contingencies (See Note 9)
Redeemable Noncontrolling Interests (See Note 4) 12,708 15,278
Stockholders’ Equity    
Common stock, $0.001 par value; 500,000,000 authorized as of June 30, 2023 and 2022; 135,639,845 and 135,532,811 issued shares as of June 30, 2023 and June 30, 2022, respectively 136 136
Additional paid-in capital 332,107 327,499
Retained earnings (deficit) (35,944) 4,729
Total InnovAge Holding Corp. 296,299 332,364
Noncontrolling interests 5,793 6,102
Total stockholders’ equity 302,092 338,466
Total liabilities and stockholders’ equity $ 567,358 $ 555,596