INNOVATE Corp.

For the period ended Dec 31, 2024. Filed Mar 31, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

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.

See the whole filing, with its images and exhibits

Contents

Consolidated Statements of Operations

(in millions, except shares and per share amounts)

	Year Ended December 31,
	2024	2023
Revenue	$1,107.1	$1,423.0
Cost of revenue	898.3	1,207.0
Gross profit	208.8	216.0
Operating expenses:
Selling, general and administrative	160.2	168.0
Depreciation and amortization	17.6	20.2
Other operating (income) loss	(9.0)	1.3
Income from operations	40.0	26.5
Other (expense) income:
Interest expense	(74.5)	(68.2)
Loss from equity investees	(2.3)	(9.4)
Other income, net	3.4	16.7
Loss from operations before income taxes	(33.4)	(34.4)
Income tax expense	(6.3)	(4.5)
Net loss	(39.7)	(38.9)
Net loss attributable to non-controlling interests and redeemable non-controlling interests	5.1	3.7
Net loss attributable to INNOVATE Corp.	(34.6)	(35.2)
Less: Preferred dividends	1.2	2.4
Net loss attributable to common stockholders and participating preferred stockholders	$(35.8)	$(37.6)
Loss per common share - basic and diluted (1)	$(3.08)	$(4.81)
Weighted-average common shares outstanding - basic and diluted (1)	10,696,274	7,814,620

(1)Basic and diluted loss per common share and weighted-average common shares outstanding for the year ended December 31, 2023, have been retroactively adjusted to reflect the 1-for-10 reverse stock split effected on August 8, 2024.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.