INNOVATE Corp.
For the period ended Jun 30, 2026. Filed Aug 6, 2026.
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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, 2026 · Filed Aug 6, 2026
VATE$5.11-5.7%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(Unaudited, in millions)
| Six Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net loss | $(4.7) | $(46.8) |
| Adjustments to reconcile net loss to cash provided by operating activities | ||
| Share-based compensation expense | 1.0 | 1.5 |
| Depreciation and amortization (including amounts in cost of revenue) | 14.4 | 15.3 |
| Amortization of deferred financing costs and debt discount | 15.2 | 11.9 |
| (Gain) loss on extinguishment of debt | (18.4) | 0.3 |
| Loss from equity investees | — | 5.9 |
| Gain on lease modifications | — | (0.1) |
| Loss (gain) on investments | 0.1 | (4.9) |
| Deferred income tax expense | (0.1) | 0.1 |
| Other operating activities, net | 1.3 | 1.7 |
| Changes in assets and liabilities: | ||
| Accounts receivable | (45.3) | (49.7) |
| Contract assets | 11.5 | 23.3 |
| Other current assets | (12.3) | 1.4 |
| Inventory | 1.2 | 0.1 |
| Other assets | 11.4 | 5.5 |
| Accounts payable | (2.5) | (5.1) |
| Accrued liabilities | 43.7 | 9.3 |
| Contract liabilities | 10.8 | 63.7 |
| Other current liabilities | 2.0 | (0.1) |
| Other liabilities | (8.4) | (7.0) |
| Cash provided by operating activities | 20.9 | 26.3 |
| Cash flows from investing activities | ||
| Purchase of property, plant and equipment | (19.9) | (10.8) |
| Proceeds from disposal of property, plant and equipment | 0.1 | 1.2 |
| Purchase of investments | (0.5) | (0.3) |
| Cash paid for asset acquisitions | (0.3) | (0.3) |
| Cash used in investing activities | (20.6) | (10.2) |
| Cash flows from financing activities | ||
| Proceeds from lines of credit, net of deferred financing costs | — | 71.2 |
| Payments on lines of credit | (15.0) | (86.8) |
| Proceeds from other debt obligations, net of deferred financing costs | 105.0 | 20.8 |
| Principal payments for other debt obligations | (109.0) | (36.2) |
| Deferred financing costs paid to third parties | (2.8) | — |
| Dividend payments | (0.7) | (1.1) |
| Other financing activities | (0.1) | (0.1) |
| Cash used in financing activities | (22.6) | (32.2) |
| Effects of exchange rate changes on cash, cash equivalents and restricted cash | — | 0.8 |
| Net decrease in cash and cash equivalents, including restricted cash and cash classified within assets held for sale | (22.3) | (15.3) |
| Decrease in cash and cash equivalents from assets held for sale | 1.9 | 1.4 |
| Net decrease in cash and cash equivalents, including restricted cash | (20.4) | (13.9) |
| Cash, cash equivalents and restricted cash, beginning of period | 108.8 | 42.3 |
| Cash, cash equivalents and restricted cash, end of period | $88.4 | $28.4 |
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