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This preliminary prospectus supplement and the accompanying prospectus relate to an effective registration statement under the Securities Act of 1933, but the information in this preliminary prospectus supplement is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities and are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

Filed Pursuant to Rule 424(b)(7)

Registration No. 333-297888

SUBJECT TO COMPLETION, DATED SEPTEMBER 22, 2026

Preliminary Prospectus Supplement
(To Prospectus dated August 4, 2026)

10,000,000 Shares

InnovAge Holding Corp.

Common Stock Offered by the Selling Security Holders

The selling security holders identified in this prospectus supplement (the “selling security holders”) are offering 10,000,000 shares of common stock, par value $0.001 per share (“common stock”), of InnovAge Holding Corp. (the “Company”, “InnovAge”, “we” or “us”). We will not receive any proceeds from the sale of common stock to be offered by the selling security holders.

The selling security holders have granted the underwriters the option to purchase up to an additional 1,500,000 shares from the selling security holders on the same terms and conditions noted below within 30 days of the date of this prospectus supplement. We will not receive any proceeds from the sale of our common stock by the selling security holders pursuant to any exercise of the underwriters’ option to purchase additional shares.

The Company’s common stock is listed on The Nasdaq Global Select Market (“Nasdaq”) under the symbol “INNV.” The last reported sale price of the Company’s common stock on Nasdaq on September 21, 2026 was $10.60 per share.

Per Share

Total

Public offering price

Underwriting discounts and commissions(1)

Proceeds, before expenses, to the selling security holders

(1)

See “Underwriting” for a description of compensation payable to the underwriters.

Investing in our common stock involves certain risks. See “Risk Factors” on page S-5 of this prospectus supplement and in our other filings with the U.S. Securities and Exchange Commission (the “SEC”) incorporated by reference in this prospectus supplement for a discussion of the factors you should carefully consider before investing in our common stock.

Neither the SEC nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.

The underwriters expect to deliver the shares of common stock to purchasers on or about , 2026.

Barclays

Goldman Sachs & Co. LLC

Wells Fargo Securities

The date of this prospectus supplement is , 2026.

	Page
ABOUT THIS PROSPECTUS SUPPLEMENT		S-ii
WHERE YOU CAN FIND MORE INFORMATION		S-ii
INCORPORATION BY REFERENCE		S-ii
FORWARD-LOOKING STATEMENTS		S-iv
PROSPECTUS SUPPLEMENT SUMMARY		S-1
THE OFFERING		S-3
RISK FACTORS		S-5
USE OF PROCEEDS		S-8
SELLING SECURITY HOLDERS		S-9
DIVIDEND POLICY		S-12
MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS		S-13
UNDERWRITING		S-17
LEGAL MATTERS		S-25
EXPERTS		S-25

	Page
ABOUT THIS PROSPECTUS		ii
WHERE YOU CAN FIND MORE INFORMATION		ii
INCORPORATION BY REFERENCE		ii
FORWARD-LOOKING STATEMENTS		iv
ABOUT INNOVAGE		1
RISK FACTORS		3
USE OF PROCEEDS		4
DESCRIPTION OF CAPITAL STOCK		5
SELLING SECURITY HOLDERS		11
PLAN OF DISTRIBUTION		14
LEGAL MATTERS		17
EXPERTS		17

Name of Selling Security holder	Shares Beneficially Owned Before the Offering				Shares Offered Hereby (No Option Exercise)		Shares Beneficially Owned After the Offering (No Option Exercise)				Shares Offered Hereby (Full Option Exercise)		Shares Beneficially Owned After the Offering (Full Option Exercise)
	(#)		(%)				(#)		(%)				(#)		(%)
TCO Group Holdings, L.P.(1)		112,576,555		82.5%		10,000,000		102,576,555		75.2%		11,500,000		101,076,555		74.1%

Underwriters			Number of Shares
Barclays Capital Inc.
Goldman Sachs & Co. LLC
Wells Fargo Securities, LLC
Total

	Shares Beneficially Owned Before the Offering				Shares Being Offered		Shares Beneficially Owned After the Offering(*)
Name of Selling Security holder	(#)		(%)		(#)		(#)		(%)
TCO Group Holdings, L.P.(1)		112,988,070		83.2%		112,988,070		—		—