INNOVATE Corp
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
VATE$5.11-5.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Stockholders’ Deficit
| Common Stock · Additional Paid-In Capital · Treasury Stock · Accumulated Deficit · Accumulated Comprehensive Income (Loss) (a) · Total INNOVATE Stockholders' (Deficit) Equity · Non-controlling Interest · Total Stockholders' (Deficit) Equity · Temporary Equity | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount | ||||||||||
| Balance as of March 31, 2024 | 79.9 | $0.1 | $327.7 | $(5.4) | $(504.7) | $(2.1) | $(184.4) | $11.2 | $(173.2) | $38.6 |
| Share-based compensation | — | — | 0.4 | — | — | — | 0.4 | — | 0.4 | — |
| Preferred stock dividends | — | — | (0.3) | — | — | — | (0.3) | — | (0.3) | — |
| Issuance of common stock | 0.6 | — | — | — | — | — | — | — | — | — |
| Issuance of preferred stock | — | — | — | — | — | — | — | — | — | 6.3 |
| Rights offering, net of transaction costs | 5.3 | — | 2.4 | — | — | — | 2.4 | — | 2.4 | 1.3 |
| Series C Preferred Share Conversion | 44.7 | — | 31.3 | — | — | — | 31.3 | — | 31.3 | (31.3) |
| Effect of Series D investment in R2 Technologies | — | — | (13.2) | — | — | — | (13.2) | 12.1 | (1.1) | 1.1 |
| Transactions with non-controlling interests | — | — | — | — | — | — | — | (0.1) | (0.1) | — |
| Other | — | — | — | — | — | — | — | — | — | 0.1 |
| Net income (loss) | — | — | — | — | 14.4 | — | 14.4 | (0.3) | 14.1 | (0.2) |
| Other comprehensive income | — | — | — | — | — | 0.4 | 0.4 | — | 0.4 | — |
| Balance as of June 30, 2024 | 130.5 | $0.1 | $348.3 | $(5.4) | $(490.3) | $(1.7) | $(149.0) | $22.9 | $(126.1) | $15.9 |
| Common Stock · Additional Paid-In Capital · Treasury Stock · Accumulated Deficit · Accumulated Comprehensive Income (Loss) (a) · Total INNOVATE Stockholders' (Deficit) Equity · Non-controlling Interest · Total Stockholders' (Deficit) Equity · Temporary Equity | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount | ||||||||||
| Balance as of December 31, 2023 | 79.2 | $0.1 | $328.2 | $(5.4) | $(487.3) | $(1.1) | $(165.5) | $13.8 | $(151.7) | $15.4 |
| Share-based compensation | — | — | 0.8 | — | — | — | 0.8 | — | 0.8 | — |
| Preferred stock dividends | — | — | (0.6) | — | — | — | (0.6) | — | (0.6) | (0.3) |
| Issuance of common stock | 1.3 | — | — | — | — | — | — | — | — | — |
| Issuance of preferred stock in private placement | — | — | — | — | — | — | — | — | — | 31.3 |
| Rights offering, net of transaction costs | 5.3 | — | 1.9 | — | — | — | 1.9 | — | 1.9 | — |
| Series C Preferred Share Conversion | 44.7 | — | 31.3 | — | — | — | 31.3 | — | 31.3 | (31.3) |
| Effect of Series D investment in R2 Technologies | — | — | (13.2) | — | — | — | (13.2) | 12.1 | (1.1) | 1.1 |
| Transactions with non-controlling interests | — | — | — | — | — | — | — | (0.1) | (0.1) | — |
| Other | — | — | (0.1) | — | — | — | (0.1) | — | (0.1) | 0.1 |
| Net loss | — | — | — | — | (3.0) | — | (3.0) | (2.8) | (5.8) | (0.4) |
| Other comprehensive loss | — | — | — | — | — | (0.6) | (0.6) | (0.1) | (0.7) | — |
| Balance as of June 30, 2024 | 130.5 | $0.1 | $348.3 | $(5.4) | $(490.3) | $(1.7) | $(149.0) | $22.9 | $(126.1) | $15.9 |
(a) Inclusive of other comprehensive income (loss), foreign currency cumulative translation adjustments totaled a loss of $3.0 million as of June 30, 2024.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT
| Common Stock · Additional Paid-In Capital · Treasury Stock · Accumulated Deficit · Accumulated Comprehensive Income (Loss) (a) · Total INNOVATE Stockholders' (Deficit) Equity · Non-controlling Interest · Total Stockholders' (Deficit) Equity · Temporary Equity | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount | ||||||||||
| Balance as of March 31, 2023 | 79.0 | $0.1 | $326.8 | $(5.4) | $(461.1) | $(1.5) | $(141.1) | $23.0 | $(118.1) | $12.1 |
| Share-based compensation | — | — | 0.7 | — | — | — | 0.7 | — | 0.7 | — |
| Preferred stock dividends | — | — | (0.4) | — | — | — | (0.4) | — | (0.4) | (0.3) |
| Issuance of common stock | 0.2 | — | — | — | — | — | — | — | — | — |
| Transactions with non-controlling interests | — | — | (0.1) | — | — | — | (0.1) | 0.1 | — | (0.2) |
| Net loss | — | — | — | — | (9.9) | — | (9.9) | (0.1) | (10.0) | (1.7) |
| Other comprehensive (loss) income | — | — | — | — | — | (0.1) | (0.1) | (0.2) | (0.3) | 0.2 |
| Balance as of June 30, 2023 | 79.2 | $0.1 | $327.0 | $(5.4) | $(471.0) | $(1.6) | $(150.9) | $22.8 | $(128.1) | $10.1 |
| Common Stock · Additional Paid-In Capital · Treasury Stock · Accumulated Deficit · Accumulated Comprehensive Income (Loss) (a) · Total INNOVATE Stockholders' (Deficit) Equity · Non-controlling Interest · Total Stockholders' (Deficit) Equity · Temporary Equity | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount | ||||||||||
| Balance as of December 31, 2022 | 78.8 | $0.1 | $330.1 | $(5.3) | $(452.1) | $5.9 | $(121.3) | $30.7 | $(90.6) | $61.0 |
| Share-based compensation | — | — | 1.2 | — | — | — | 1.2 | — | 1.2 | — |
| Taxes paid in lieu of shares issued for share-based compensation | (0.1) | — | — | (0.1) | — | — | (0.1) | — | (0.1) | — |
| Preferred stock dividends | — | — | (1.3) | — | — | — | (1.3) | — | (1.3) | (0.6) |
| Issuance of common stock | 0.5 | — | — | — | — | — | — | — | — | — |
| Distributions to non-controlling interests | — | — | — | — | — | — | — | (10.7) | (10.7) | (5.2) |
| Transactions with non-controlling interests | — | — | (3.0) | — | — | — | (3.0) | 3.1 | 0.1 | (0.1) |
| DBMGi preferred stock repurchase | — | — | — | — | — | — | — | — | — | (41.8) |
| Net (loss) income | — | — | — | — | (18.9) | — | (18.9) | 2.1 | (16.8) | (2.9) |
| Other comprehensive loss | — | — | — | — | — | (7.5) | (7.5) | (2.4) | (9.9) | (0.3) |
| Balance as of June 30, 2023 | 79.2 | $0.1 | $327.0 | $(5.4) | $(471.0) | $(1.6) | $(150.9) | $22.8 | $(128.1) | $10.1 |
(a) Inclusive of other comprehensive loss, foreign currency cumulative translation adjustments totaled a loss of $2.9 million as of June 30, 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.