VATE— INNOVATE Corp.

MaterialsConstruction$165M mkt cap

Metric	FY2025	FY2024	FY2023	FY2022
Revenue	$1.25B+12.5%	$1.11B-22.2%	$1.42B-13.1%	$1.64B
Cost of revenue	$1.05B+16.5%	$898.3M-25.6%	$1.21B-14.8%	$1.42B
Gross profit	$199.7M-4.4%	$208.8M-3.3%	$216.0M-2.4%	$221.4M
Selling, general and administrative	$153.1M-4.4%	$160.2M-4.6%	$168.0M-6.7%	$180.1M
Depreciation and amortization	$17.5M-0.6%	$17.6M-12.9%	$20.2M-25.7%	$27.2M
Other operating loss (income)	$400K+104.4%	-$9.0M-792.3%	$1.3M+85.7%	$700K
Income (loss) from operations	$28.7M-28.2%	$40.0M+50.9%	$26.5M+97.8%	$13.4M
Interest expense	-$89.0M-19.5%	-$74.5M-9.2%	-$68.2M-31.2%	-$52.0M
Loss from equity investees	-$5.9M-156.5%	-$2.3M+75.5%	-$9.4M-623.1%	-$1.3M
Other income, net	$4.7M+38.2%	$3.4M-79.6%	$16.7M+1491.7%	-$1.2M
Loss from operations before income taxes	-$61.5M-84.1%	-$33.4M+2.9%	-$34.4M+16.3%	-$41.1M
Income tax expense	-$2.5M+60.3%	-$6.3M-40.0%	-$4.5M-400.0%	-$900K
Net loss	-$64.0M-61.2%	-$39.7M-2.1%	-$38.9M+7.4%	-$42.0M
Net loss attributable to non-controlling interests and redeemable non-controlling interests	$3.4M-33.3%	$5.1M+37.8%	$3.7M-39.3%	$6.1M
Net loss attributable to INNOVATE Corp.	-$60.6M-75.1%	-$34.6M+1.7%	-$35.2M+1.9%	-$35.9M
Less: Preferred stock dividends	$3.4M+183.3%	$1.2M-50.0%	$2.4M-51.0%	$4.9M
Net loss attributable to common stockholders and participating preferred stockholders, basic	-$64.0M-78.8%	-$35.8M+4.8%	-$37.6M+7.8%	-$40.8M
Net loss attributable to common stockholders and participating preferred stockholders, diluted	-$64.0M-78.8%	-$35.8M+4.8%	-$37.6M+7.8%	-$40.8M
Loss per common share - basic (in usd per share)	-$4.84-57.1%	-$3.08-541.7%	-$0.48+9.4%	-$0.53
Loss per common share - diluted (in usd per share)	-$4.84-57.1%	-$3.08-541.7%	-$0.48+9.4%	-$0.53
Weighted-average common shares outstanding - basic (in shares)	13.2M+23.6%	10.7M-86.3%	78.1M+0.8%	77.5M
Weighted-average common shares outstanding - diluted (in shares)	13.2M+23.6%	10.7M-86.3%	78.1M+0.8%	77.5M

Source: SEC EDGAR XBRL. % change vs prior period shown where available.

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Source: SEC EDGAR 10-K and 10-Q filings. Last 4 years annual and quarterly free, full history (up to 20 years) on Pro.