InnovAge shares rose after the company's outlook for the new fiscal year came in ahead of expectations.
The stock climbed 11% to $11.67 in after-hours trading. Through the close, shares had doubled this year.
In the new fiscal year, the healthcare provider expects $1.05 billion to $1.09 billion in revenue. Analysts were projecting less than $1.04 billion for the year.
In the fiscal fourth quarter, revenue rose 18% to $262.0 million.
InnovAge swung to a profit of $8.3 million, or 6 cents a share, compared with a loss of $785 million, or 1 cent a share, the year before.
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