and begin my everyone. who gratitude Thank investors I appreciation afternoon, partners, continue employees, InnovAge want good and you, participants, support to by government Ryan, us. extending to to our deepest and
progress in brief Results year and our and Today, several areas. quarter, XXXX, fiscal year a provide the we focus guidance regulatory for XXXX fourth fiscal will for update, updates. initial key
me with fiscal XXXX. year start Let
of a approximately and contribution adjusted XX.X% revenue For year. year, represents for reported million fiscal full XXXX, to the margin $X.X compared we million, level X.X% million, negative decline of which the $XXX.X margin. Consolidated fiscal a was EBITDA year of $XXX.X center
potential, our While in of a were in impacted line Colorado go-forward negatively not these enrollment that was our results restrictions reflective expectations and with period by Sacramento. in
center reported quarter, well to sequential to Moving represents million, revenue to improvement considerable $XXX.X of which $XX.X and $XXX,XXX was this Consolidated compared we our the EBITDA XX.X% X.X% the a a focus and quarter. fourth in year Overall, of positions adjusted level momentum. million, of the on for third areas demonstrated us approximately contribution quarter, margin. core build progress
XXXX level center to XX% Second million. contribution of contribution half half $XX of of margin center fiscal first $XX.X margin increase relative approximately an million, year was level
Importantly, XX% centers center a we we novos capacity are our our have serve is opening. slack of still the across de top the in approximately each center capacity seniors Florida priority. portfolio, additional Utilizing to excluding
team we we of built and bolster regulatory that last and been audit compliance to relationships but costs, financial entering margin resolved medical to our I our core improving instance the Epic’s restrictions months care for efficient and pleased year sense, compliance with keeping and we our the more the We proud with the top while for and our all lifted. with rising of a us challenges payer better state broadly, now performance. participant weathered to have will recapture. have in in a essential We difficult deficiencies of improved of acknowledge EMR centers, foundation are solid position what I processes in priority. believe capabilities every impacts accomplished XX manage and XX partners. implemented center. The XXXX. want progress humility, fiscal which of period federal phase more a we But sanctions us we will now our strengthened every and PACE-specific in XX make our a grit had our We We and am growth enrollment negative all are operational capabilities,
the it Turning XX,XXX, does It to is means year this revenue guidance to performance consolidated important of and X,XXX includes business. we long-term EBITDA a to X,XXX, the to is of XXXX million reflect note fiscal conservatism a capacity Fiscal and total ratios, not filling $XXX and in guidance our of member continue centers. XX,XXX in growth, $XXX of project million, to of $XX where $XX by million to we million. reach as guidance, census range XXXX stronger adjusted some given resume that months targeted waypoint we our year optimism our is no staffing are journey destination, excess a financial to
profitability a we we exiting the at progresses in as year As change and continue run until to the seeing of increase a our in mature to margins. rate. higher anticipate year the rate we profitability result, reach Further, expect improvement
wider We the most adjusted appreciate initial that EBITDA than range is precedents.
guidance understand growth our the end going second going for the the quarter. is better to are how initiatives cost, to mature, will impact improvement we performance evaluate of year we and As our refining after
the mid-year this point We business. community investor to of the on also our drivers plan critical inflection to refresh use
hosting review first be to Investor business we’ll detail. the such, Day after second As earnings in our quarter
and sector. to healthcare contributions best six the the finance Officer, Ben her to Financial take over organization the high-impact Adams, and years brings wish endeavors. continue of thank new addition innumerable leadership, strategic leadership our we future to with all to the her Regarding for the I Barb Chief additional a expertise Ben the talent. latest the team. is operational moment last Gutierrez in within to want organization experience enhance decades also
ahead. We Audit years Committee. the in finance the and serve Teresa’s also welcomed us healthcare Board public and Sparks to well Teresa to will expertise company
fiscal deserving seniors from to many the benefit access to would PACE of to program. enter who enthusiastic are goals expand XXXX growth the our to pursue and unencumbered We responsible
we’ve company’s believe I history responsible, the put, new strongest this growth. laser-focus As of margin we foundation year will is believe business, consistent, on excellence. in our operational strengthened result we recapture, profitable in which Simply execution, this year methodically the begin and a with
Sacramento of in begin continue I released my front, On me our appreciation compliant to the care ongoing let seriousness, in CMS by government us have to post-sanction highly to consistent endeavor utmost spirit their happy and the the early the take monitoring expressing results. trust us, and Notably, for our regulatory partners we we in report of strong of will deliver and centers. each to for partnership. confidence from the state in because partners by were placed with audit our and state our We CMS am and
near-term Our and responsible, profitable compliant growth remain a to strategy. business a unchanged, operationally excellent delivers that sustain executing while priorities exceptional care highly patient
in leads, by we sequential experience lead we’ve gross six improvements metric in the growth, seen to this and existing-center Regarding enrollments approximately months. market. XX% continue over increase sales every last prospect almost volumes to qualified Specific
from We and are referral digital productivity the marketing and also the of volumes making significant lead teams, strides campaigns, enrollment partners. digital coming channel our effectiveness of the in our our
team cost-effective on enable moving process our sales this to enrollment the volume also small metrics. increased are to through focus enrollment internal a us more In increase We field-based specialists lead manner in will will prospects conversion to that in a investing the enable quickly. our pre-qualify time,
ramp enrollment expectations. is Colorado formerly in our The and our markets, tracking sanctioned Sacramento, to
continues execution our gross We the portfolio at the At of improved a in enrollment and growth new rest or and positively our important InnovAge of time, are process enrollment. this is and joint reflecting currently trending remember levels to in the Colorado market, our pre-sanction is in at It effort activate above with every to levels same almost monthly enrollments who area. partners a between Sacramento. applications pre-sanction state in perform that
enrollment the applications, constraints some state the recent this further we ongoing processes may have states. redetermination and to in in which We resource some delays by attribute observed exacerbated of become Medicaid processing
not seek and cause can impact of our delay solutions. participants the it this participants, eligibility does to other prospective enrollments potentially eligible While
each improve the funnel continue of stage and month. to enrollment each We be ourselves efficient productive, more challenge to consistent, to
of earnings open of sturdy centers pivot Orlando, we we to administrative a We In in Florida, and we the recently State continue new received have to Orlando. Readiness Readiness Review Tampa new-center completed Tampa. license that Adult building provide in As inspection future the In and on schedule State Daycare Review. strong onsite base requirements with to pipeline paramount. a our progress State centers the to is the embedded make growth, will working are
double of We both fluctuate, be quickly operational centers ourselves timeline two remaining we will excited centers administrative Depending increase possible. by two our XX%, hold census top get over to the the at that accountable the These these on coming meaningfully continue over open around as opportunity year. we end and calendar to centers the the expand steps, growth visibility which can and line digit to center of are anticipate total into as years. capacity will the our
our the market to state with the application We of large Angeles. Services when sanction are worked Health our also years suspended Sacramento resume we a in California the ago. Department that issued application have Care pleased announce Los Recall, to southeast Downey, was two of
would year the enable of believe timing process XXXX. open increase the in us of could application we the to the control, addition mid-calendar this in entirely While Downey remains state’s center California strategic the We by healthcare. to our be affordable, XXX support market. high-quality to integrated, of more in highly deliver couldn’t in this state census approximately California excited their mission capacity participants The
as the in across over dual these forward-looking, community-based are in foreseeable to the remain are interest care model struggling we growth horizon. highest most also the of care state seeing serving eligibles the believe gold-standard viewed We independent. PACE Lastly, compelling, the for of country. programs source dual the cost models Increasingly, increased government eligibles is PACE
a on addition observe to as pipeline to acquisitions focus existing-center well. we for new-center partnership In tuck-in the healthy and continue our opportunities, and new
difficult seeing could that of key delivery of unlock markets. partnerships in significant multi-pronged of timing Healthcare confidence the level that is While a are in remain can value we to we opportunities growth predict, market the the and also us hyper-local, inorganic of strategy. some facet our our gives remains activity transactions believe
opportunistic collaborating We and on with participant-centric will commitment share and to focus care. that be organizations quality our
We savings data-driven Ben our demonstrate value to rate to that us we but paid be negotiations model is with let goal and for compared the what It delivering for rate be suitable drives services through walk financially states. we’re when you offer. expecting, to I’ll rates, believe meaningful PACE alternatives. incumbent and our a overarching Regarding are to more the on our government proactive partners the in empirically is we
costs, on the executing and momentum, medical Initiatives Clinical medical portfolio management. to Value every we’re at fundamentals our is day better building Turning of of getting cost
trend medical and core up You’ll recall stood in fiscal this manner. XXXX manage a we more capability in professionalized that foundational to impactful
have P&L trend track and up accountability the ideation structure, analytics, set continuously impact. models We our and execution to to team opportunities to identify mitigation from
examples. To few provide a
while the our long-term. annualized more of external are reducing than We our anticipate run- in deliver rate We improving initiatives provider improvement will quality our the networks, million of current $X costs.
short our that XX% utilization reduced fiscal ended saves year improvement This have or nursing XX-basis improvement, stay points approximately $X reduction We is estimate over basis X%. a fiscal million. We approximately skilled which every at XX point of rate the XXXX. year
admits expanding participants utilization. our emergency the support our the room capabilities avoidable inpatient case risk to reduce most of are to needs We management of complex and
elevated will core begin to pre-sanction believe observed. we remained we relative levels to our trends have medical initiatives the portfolio at our trends periods, mitigate elevated of While have
of of external in profitability. external revenue approximately levels, XXXX. that above get where an one quality of $X XX.X% line pre-sanction while is million improvement context, almost year to in care provider these levels provider possible. in annualized costs well a were we priority XX.X% fiscal XXXX, X% results year our represents revenue Clinical percentage with historical back number in fiscal basis, of costs as improving estimate As On a of incremental costs
comments You’ll work are with remains. last not significant pleased these will while and recall from quarter, progress, switches, we our my be dials,
XX the have Lastly, now Epic on XX of live new our we centers EMR.
enabler and satisfaction forward. we Epic previously, clinical as discussed compliance, have efficiency, we staff of a increased As operational chief productivity, view going
system. As and positive That to achieve I it from that our take teams. and by clinical we’re are mentioned administrative full the operational last expected highly efficiencies adoption emerging quarter, encouraged and benefits feedback the new the will said, the months of
impact unlock the we has moved improvement incremental the by We areas XX months breakthrough I year the last additional team over to our privilege mindset. catalysts lead to balance over our and as owners’ new an closing, the with transform value am us time. In of forward demonstrate to of to to a enter to organization to business focus we intentional continuing over quarter potential. the mountains an this full position group deliver and our quarter caregivers’ each look and heart while seek in humbled
will I Ben? over for on turn to that, additional With Ben insight call the the financials.
