The company projects revenue between $1.05 billion and $1.09 billion for the coming fiscal year, exceeding the analyst consensus of $1.04 billion. This forward-looking confidence follows a strong fiscal fourth quarter, during which revenue grew 18% to $262 million.

Profitability metrics also signaled a sharp recovery. InnovAge reported a net income of $8.3 million, or 6 cents per share, marking a stark contrast to the $785,000 loss recorded during the same period last year. Having already doubled in value since the start of the year, the stock’s latest rally highlights investor reaction to the firm’s improved financial trajectory.