INNOVATE Corp.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $1.2B | $1.1B | $1.4B | $1.6B | $1.2B |
| Cost of revenue | $1.0B | $898.3M | $1.2B | $1.4B | $1.0B |
| Gross profit | $199.7M | $208.8M | $216.0M | $221.4M | $183.7M |
| Selling, general & administrative | $153.1M | $160.2M | $168.0M | $180.1M | $168.3M |
| Operating income | $28.7M | $40.0M | $26.5M | $13.4M | -$10.6M |
| Interest expense | $89.0M | $74.5M | $68.2M | $52.0M | $59.1M |
| Pretax income | -$61.5M | -$33.4M | -$34.4M | -$41.1M | -$80.7M |
| Income tax expense | $2.5M | $6.3M | $4.5M | $900,000 | $5.6M |
| Net income | -$60.6M | -$34.6M | -$35.2M | -$35.9M | -$227.5M |
| Balance Sheet | |||||
| Cash and equivalents | $112.1M | $48.8M | $80.8M | $80.4M | $45.5M |
| Current assets | $451.5M | $390.9M | $517.9M | $536.4M | $442.6M |
| Total assets | $950.1M | $891.1M | $1.0B | $1.2B | $1.1B |
| Current liabilities | $1.0B | $483.0M | $413.8M | $417.2M | $439.5M |
| Total liabilities | $1.2B | $1.0B | $1.2B | $1.2B | $1.1B |
| Total debt | $687.1M | $667.7M | $720.4M | $723.2M | $630.7M |
| Stockholders' equity | -$240.1M | -$180.4M | -$165.5M | -$121.3M | -$84.3M |
| Cash Flow Statement | |||||
| Cash from operations | $146.6M | $9.1M | $26.5M | -$9.5M | $27.0M |
| Depreciation and amortization | $30.4M | $32.9M | $36.0M | $42.2M | $37.6M |
| Stock-based compensation | $2.7M | $3.4M | $2.2M | $2.4M | $2.4M |
| Capital expenditure | $500,000 | $19.0M | $18.4M | $20.7M | $24.1M |
| Free cash flow | $146.1M | -$9.9M | $8.1M | -$30.2M | $2.9M |
| Dividends paid | $2.2M | $1.2M | $2.2M | $5.2M | $2.9M |
| Impairments | $0 | $100,000 | $1.8M | $2.1M | $2.8M |
Shares outstanding 13.6M · Free float 41.3%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.