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InnovAge vs Privia Health: revenue, profit, margins and growth compared

InnovAge brought in $989.7M of revenue in fiscal 2026, Privia Health $2.1B in fiscal 2025. Revenue changed by +15.9% at InnovAge and +22.3% at Privia Health on the year before, so Privia Health grew faster. InnovAge kept -0.3% of its revenue as net profit, Privia Health 1.1%.

Side by side, latest fiscal year

INNVPRVA
Fiscal year endedFY2026 (June 30, 2026)FY2025 (December 31, 2025)
Revenue$989.7M$2.1B
Revenue growth+15.9%+22.3%
Net income-$2.5M$22.9M
Net margin-0.3%1.1%
Free cash flow$50.4Mn/a
Free cash flow margin5.1%n/a
Earnings per share (diluted)-$0.02$0.18
Cash$97.9M$479.7M
Debt$48.8Mn/a
Price to earningsn/a109.5
Market value$1.2B$2.5B
Dividend yieldn/an/a
Rank by revenue in sector#145 of 523 · Health care#106 of 523 · Health care

Over the years

Revenue
INNV FY2021: $567.2MINNV FY2021: $637.8MINNV FY2022: $698.6MINNV FY2023: $688.1MINNV FY2024: $763.9MINNV FY2025: $853.7MINNV FY2026: $989.7MPRVA FY2019: $786.4MPRVA FY2021: $817.1MPRVA FY2021: $966.2MPRVA FY2022: $1.4BPRVA FY2023: $1.7BPRVA FY2024: $1.7BPRVA FY2025: $2.1BFY19FY21FY22FY23FY24FY25FY26
INNV $989.7MPRVA $2.1B
Net income
INNV FY2021: $26.3MINNV FY2021: -$44MINNV FY2022: -$6.5MINNV FY2023: -$40.7MINNV FY2024: -$21.3MINNV FY2025: -$30.3MINNV FY2026: -$2.5MPRVA FY2019: $8.2MPRVA FY2021: $31.2MPRVA FY2021: -$188.2MPRVA FY2022: -$8.6MPRVA FY2023: $23.1MPRVA FY2024: $14.4MPRVA FY2025: $22.9MFY19FY21FY22FY23FY24FY25FY26
INNV -$2.5MPRVA $22.9M
Net margin
INNV FY2021: 4.6%INNV FY2021: -6.9%INNV FY2022: -0.9%INNV FY2023: -5.9%INNV FY2024: -2.8%INNV FY2025: -3.6%INNV FY2026: -0.3%PRVA FY2019: 1.0%PRVA FY2021: 3.8%PRVA FY2021: -19.5%PRVA FY2022: -0.6%PRVA FY2023: 1.4%PRVA FY2024: 0.8%PRVA FY2025: 1.1%FY19FY21FY22FY23FY24FY25FY26
INNV -0.3%PRVA 1.1%
Revenue growth
INNV FY2021: +12.4%INNV FY2022: +9.5%INNV FY2023: -1.5%INNV FY2024: +11.0%INNV FY2025: +11.8%INNV FY2026: +15.9%PRVA FY2021: +3.9%PRVA FY2021: +18.3%PRVA FY2022: +40.4%PRVA FY2023: +22.2%PRVA FY2024: +4.7%PRVA FY2025: +22.3%FY21FY22FY23FY24FY25FY26
INNV +15.9%PRVA +22.3%
Free cash flow
INNV FY2021: $32MINNV FY2021: -$25.1MINNV FY2022: -$10.9MINNV FY2023: -$3.1MINNV FY2024: -$44.8MINNV FY2025: $26.6MINNV FY2026: $50.4MPRVA FY2019: $18.6MPRVA FY2021: $38.5MPRVA FY2021: $54.5MPRVA FY2022: $47.1MPRVA FY2023: $80.7MFY19FY21FY22FY23FY24FY25FY26
INNV $50.4MPRVA $80.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about InnovAge and Privia Health

Which is bigger by revenue, InnovAge or Privia Health?

Privia Health is bigger by revenue: $2.1B in fiscal 2025, against $989.7M for InnovAge in fiscal 2026.

Which keeps more of its revenue as profit, InnovAge or Privia Health?

InnovAge had a net margin of -0.3% in fiscal 2026; Privia Health had 1.1% in fiscal 2025.

Which grew revenue faster, InnovAge or Privia Health?

In their latest fiscal years revenue changed by +15.9% at InnovAge and +22.3% at Privia Health.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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