INNOVATE Corp.
For the period ended Dec 31, 2025. Filed Mar 26, 2026.
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FY2025 · Filed Mar 26, 2026
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, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $112.1 | $48.8 |
| Accounts receivable, net | 241.1 | 194.0 |
| Contract assets | 64.1 | 106.3 |
| Inventory | 16.0 | 20.8 |
| Other current assets | 18.2 | 21.0 |
| Total current assets | 451.5 | 390.9 |
| Investments | 1.8 | 3.6 |
| Deferred tax asset | 2.0 | 1.6 |
| Property, plant and equipment, net | 141.8 | 133.6 |
| Goodwill | 127.0 | 126.7 |
| Intangibles, net | 165.2 | 172.4 |
| Other assets | 60.8 | 62.3 |
| Total assets | $950.1 | $891.1 |
| Liabilities, temporary equity and stockholders’ deficit | ||
| Current liabilities | ||
| Accounts payable | $141.4 | $84.8 |
| Accrued liabilities | 122.5 | 109.7 |
| Current portion of debt obligations | 581.4 | 162.2 |
| Contract liabilities | 171.9 | 109.1 |
| Other current liabilities | 16.9 | 17.2 |
| Total current liabilities | 1,034.1 | 483.0 |
| Deferred tax liability | 4.7 | 4.4 |
| Debt obligations | 80.3 | 500.6 |
| Other liabilities | 46.3 | 46.8 |
| Total liabilities | 1,165.4 | 1,034.8 |
| Commitments and contingencies (Note 13) | ||
| Temporary equity | ||
| Preferred Stock Series A-3 and Preferred Stock Series A-4, $0.001 par value | 9.3 | 16.1 |
| Shares authorized: 20,000,000; Shares issued and outstanding: 6,125 and 6,125 of Series A-3; 1,937 and 10,000 of Series A-4, respectively. | ||
| Redeemable non-controlling interests | 1.6 | (0.5) |
| Total temporary equity | 10.9 | 15.6 |
| Stockholders’ deficit | ||
| Common stock, $0.001 par value | — | — |
| Shares issued: 13,818,904 and 13,410,179, respectively | ||
| Shares outstanding: 13,655,062 and 13,261,379, respectively | ||
| Additional paid-in capital | 350.1 | 350.1 |
| Treasury stock, at cost: 163,842 and 148,800 shares, respectively | (5.6) | (5.4) |
| Accumulated deficit | (582.5) | (521.9) |
| Accumulated other comprehensive loss | (2.1) | (3.2) |
| Total INNOVATE Corp. stockholders’ deficit | (240.1) | (180.4) |
| Non-controlling interests | 13.9 | 21.1 |
| Total stockholders’ deficit | (226.2) | (159.3) |
| Total liabilities, temporary equity and stockholders’ deficit | $950.1 | $891.1 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.