INNOVATE Corp.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
VATE$5.42+3.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(in millions, except share amounts)
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $48.8 | $80.8 |
| Accounts receivable, net | 194.0 | 278.4 |
| Contract assets | 106.3 | 118.6 |
| Inventory | 20.8 | 22.4 |
| Other current assets | 21.0 | 17.7 |
| Total current assets | 390.9 | 517.9 |
| Investments | 3.6 | 1.8 |
| Deferred tax asset | 1.6 | 2.0 |
| Property, plant and equipment, net | 133.6 | 154.6 |
| Goodwill | 126.7 | 127.1 |
| Intangibles, net | 172.4 | 178.9 |
| Other assets | 62.3 | 61.3 |
| Total assets | $891.1 | $1,043.6 |
| Liabilities, temporary equity and stockholders’ deficit | ||
| Current liabilities | ||
| Accounts payable | $84.8 | $142.9 |
| Accrued liabilities | 109.7 | 70.8 |
| Current portion of debt obligations | 162.2 | 30.5 |
| Contract liabilities | 109.1 | 153.5 |
| Other current liabilities | 17.2 | 16.1 |
| Total current liabilities | 483.0 | 413.8 |
| Deferred tax liability | 4.4 | 4.1 |
| Debt obligations | 500.6 | 679.3 |
| Other liabilities | 46.8 | 82.7 |
| Total liabilities | 1,034.8 | 1,179.9 |
| Commitments and contingencies (Note 13) | ||
| Temporary equity | ||
| Preferred Stock Series A-3 and Preferred Stock Series A-4, $0.001 par value | 16.1 | 16.4 |
| Shares authorized: 20,000,000; Shares issued and outstanding: 6,125 of Series A-3 and 10,000 of Series A-4 | ||
| Redeemable non-controlling interest | (0.5) | (1.0) |
| Total temporary equity | 15.6 | 15.4 |
| Stockholders’ deficit | ||
| Common stock, $0.001 par value (1) | — | — |
| Shares authorized: 250,000,000 and 160,000,000, respectively | ||
| Shares issued: 13,410,179 and 8,072,300 (1), respectively | ||
| Shares outstanding: 13,261,379 and 7,923,500 (1), respectively | ||
| Additional paid-in capital (1) | 350.1 | 328.3 |
| Treasury stock, at cost: 148,800 (1) shares | (5.4) | (5.4) |
| Accumulated deficit | (521.9) | (487.3) |
| Accumulated other comprehensive loss | (3.2) | (1.1) |
| Total INNOVATE Corp. stockholders’ deficit | (180.4) | (165.5) |
| Non-controlling interest | 21.1 | 13.8 |
| Total stockholders’ deficit | (159.3) | (151.7) |
| Total liabilities, temporary equity and stockholders’ deficit | $891.1 | $1,043.6 |
(1)Common stock, Shares issued, Shares outstanding, Additional paid-in capital, and Treasury stock as of December 31, 2023, have been retroactively adjusted to reflect the 1-for-10 reverse stock split effected on August 8, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.