INNOVATE Corp.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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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.
Sep 30, 2025 · Filed Nov 12, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Stockholders’ Deficit
| Temporary Equity · Stockholders' (Deficit) Equity | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Preferred Stock and Redeemable Non-Controlling Interest · 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 | ||||||||||
| Shares(thousands) · Amount | ||||||||||
| Balance as of June 30, 2025 | $17.1 | 13,336.1 | $— | $349.2 | $(5.6) | $(566.2) | $(2.2) | $(224.8) | $18.4 | $(206.4) |
| Share based compensation expense | — | — | — | 0.7 | — | — | — | 0.7 | — | 0.7 |
| Dividends | 0.3 | — | — | (0.5) | — | — | — | (0.5) | (0.5) | (1.0) |
| Issuance of common stock, net of forfeitures | — | 319.0 | — | — | — | — | — | — | — | — |
| Exchange of preferred stock for debt | (9.1) | — | — | — | — | — | — | — | — | — |
| Transactions with noncontrolling interests | — | — | — | (0.1) | — | — | — | (0.1) | 0.1 | — |
| Other | — | — | — | 0.5 | — | — | — | 0.5 | — | 0.5 |
| Net loss | (0.1) | — | — | — | — | (8.9) | — | (8.9) | (0.6) | (9.5) |
| Other comprehensive loss | — | — | — | — | — | — | (0.2) | (0.2) | — | (0.2) |
| Balance as of September 30, 2025 | $8.2 | 13,655.1 | $— | $349.8 | $(5.6) | $(575.1) | $(2.4) | $(233.3) | $17.4 | $(215.9) |
| Balance as of December 31, 2024 | $15.6 | 13,261.4 | $— | $350.1 | $(5.4) | $(521.9) | $(3.2) | $(180.4) | $21.1 | $(159.3) |
| Share based compensation expense | — | — | — | 2.2 | — | — | — | 2.2 | — | 2.2 |
| Shares withheld to satisfy tax withholdings | — | (15.1) | — | — | (0.2) | — | — | (0.2) | — | (0.2) |
| Dividends | 2.1 | — | — | (3.0) | — | — | — | (3.0) | (1.0) | (4.0) |
| Issuance of common stock, net of forfeitures | — | 408.8 | — | — | — | — | — | — | — | — |
| Exchange of preferred stock for debt | (9.1) | — | — | — | — | — | — | — | — | — |
| Other | — | — | — | 0.5 | — | — | — | 0.5 | — | 0.5 |
| Net loss | (0.4) | — | — | — | — | (53.2) | — | (53.2) | (2.8) | (56.0) |
| Other comprehensive income | — | — | — | — | — | — | 0.8 | 0.8 | 0.1 | 0.9 |
| Balance as of September 30, 2025 | $8.2 | 13,655.1 | $— | $349.8 | $(5.6) | $(575.1) | $(2.4) | $(233.3) | $17.4 | $(215.9) |
(a) Inclusive of other comprehensive loss, foreign currency cumulative translation adjustments totaled a loss of $3.7 million and $4.5 million as of September 30, 2025 and December 31, 2024, respectively.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT
| Temporary Equity · Stockholders' (Deficit) Equity | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Preferred Stock and Redeemable Non-Controlling Interest · 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 | ||||||||||||||||||
| Shares(thousands) · Amount | ||||||||||||||||||
| Balance as of June 30, 2024 | $15.9 | 13,053.0 | $— | $348.4 | $(5.4) | $(490.3) | $(1.7) | $(149.0) | $22.9 | $(126.1) | ||||||||
| Share-based compensation | — | — | — | 0.3 | — | — | — | 0.3 | — | 0.3 | ||||||||
| Preferred stock dividends | — | — | — | (0.3) | — | — | — | (0.3) | — | (0.3) | ||||||||
| Reverse stock split | — | 113.1 | — | — | — | — | — | — | — | — | ||||||||
| Transactions with non-controlling interests | — | — | — | — | — | — | — | — | 0.1 | 0.1 | ||||||||
| Net loss | (0.1) | — | — | — | — | (15.0) | — | (15.0) | (1.1) | (16.1) | ||||||||
| Other comprehensive income | — | — | — | — | — | — | 0.9 | 0.9 | 0.1 | 1.0 | ||||||||
| Balance as of September 30, 2024 | $15.8 | 13,166.1 | $— | $348.4 | $(5.4) | $(505.3) | $(0.8) | $(163.1) | $22.0 | $(141.1) | ||||||||
| Balance as of December 31, 2023 | $15.4 | 7,923.5 | $— | $328.3 | $(5.4) | $(487.3) | $(1.1) | $(165.5) | $13.8 | $(151.7) | ||||||||
| Share-based compensation | — | — | — | 1.1 | — | — | — | 1.1 | — | 1.1 | ||||||||
| Preferred stock dividends | (0.3) | — | — | (0.9) | — | — | — | (0.9) | — | (0.9) | ||||||||
| Issuance of common stock | — | 129.5 | — | — | — | — | — | — | — | — | ||||||||
| Issuance of preferred stock in private placement | 31.3 | — | — | — | — | — | — | — | — | — | ||||||||
| Rights offering, net of transaction costs | — | 530.6 | — | 1.9 | — | — | — | 1.9 | — | 1.9 | ||||||||
| Series C Preferred Share Conversion | (31.3) | 4,469.4 | — | 31.3 | — | — | — | 31.3 | — | 31.3 | ||||||||
| Reverse stock split | — | 113.1 | — | — | — | — | — | — | — | — | ||||||||
| Effect of Series D investment in R2 Technologies | 1.1 | — | — | (13.2) | — | — | — | (13.2) | 12.1 | (1.1) | ||||||||
| Transactions with non-controlling interests | 0.1 | — | — | (0.1) | — | — | — | (0.1) | — | (0.1) | ||||||||
| Net loss | (0.5) | — | — | — | — | (18.0) | — | (18.0) | (3.9) | (21.9) | ||||||||
| Other comprehensive income | — | — | — | — | — | — | 0.3 | 0.3 | — | 0.3 | ||||||||
| Balance as of September 30, 2024 | $15.8 | 13,166.1 | $— | $348.4 | $(5.4) | $(505.3) | $(0.8) | $(163.1) | $22.0 | $(141.1) | ||||||||
(a) Inclusive of other comprehensive loss, foreign currency cumulative translation adjustments totaled a loss of $2.1 million and $2.4 million as of September 30, 2024 and December 31, 2023, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.