INNOVATE Corp. (VATE)

NYSE: VATE · Fabricated Structural Metal Products · New York, NY · filing with the SEC since 1996

Grade3.5

◀ Past 2.2● Present 3.4▶ Future 4.9

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

Income statement, as filed

In thousands of US dollars (USD), as filed; per-share figures in US dollars; share counts. The fiscal year ends in December.

Income statement, by fiscal year, newest first
Fiscal year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Report filed	Mar 26, 2026	Mar 31, 2025	Mar 6, 2024	Mar 14, 2023	Mar 9, 2022	Mar 10, 2021	Mar 16, 2020	Mar 12, 2019	Mar 14, 2018	Mar 9, 2017
Revenue	1,246,000	1,107,100	1,423,000	1,637,300	1,205,200	716,900	1,077,000^r	1,976,700	1,634,100^r	1,558,100^r
For insurers
Premiums earned	·	·	·	·	·	115,100	116,900	94,400	80,500^r	79,400^r
Net investment income	·	·	·	·	·	188,900	203,800	116,600	66,100^r	58,000^r
Cost of revenue	1,046,300	898,300	1,207,000	1,415,900	1,021,500	588,500	596,000^r	1,585,200	1,313,100^r	1,254,000^r
Gross profit	199,700	208,800	216,000	221,400	183,700	128,400	·	·	·	·
Selling, general and administrative	153,100	160,200	168,000	180,100	168,300	145,500^r	177,300^r	218,400	182,800^r	152,900^r
Total operating expenses	·	·	·	·	·	·	·	2,032,500	1,635,200^r	1,559,600^r
Total costs and expenses	·	·	·	·	·	1,009,900	1,051,700^r	2,032,500	·	·
Operating income	28,700	40,000	26,500	13,400	-10,600	-28,300^r	25,300^r	-55,800	-1,100^r	-1,500^r
Interest expense	89,000	74,500	68,200	52,000	59,100	74,800^r	76,100^r	75,700	55,100^r	43,400^r
Interest and investment income	700	2,600	1,300	·	·	·	·	·	·	·
Share of profit of equity-method investments	-5,900	-2,300	-9,400	-1,300	-2,800	-3,400	1,600^r	15,400	17,800^r	10,800^r
Other income (expense), net	4,700	3,400	16,700	-1,200	4,300	69,200^r	6,300^r	77,900^r	-12,800^r	-2,800^r
Income before income taxes	-61,500	-33,400	-34,400	-41,100	-80,700	-46,700^r	-41,800^r	182,300	-39,800^r	-45,800^r
Income tax expense	2,500	6,300	4,500	900	5,600	7,000^r	-19,600^r	2,400	10,700^r	51,600^r
Income from continuing operations	·	·	·	-42,000	-86,300	-53,700^r	-22,200	·	-50,491	-97,431
Income from discontinued operations	·	·	·	0	-149,900	-48,400^r	-13,900	·	0	0
Net income including non-controlling interests	-64,000	-39,700	-38,900	-42,000	-236,200	-102,100	-36,100	179,900	-50,500^r	-97,400^r
Net income to non-controlling interests	-3,400	-5,100	-3,700	-6,100	-8,700	-10,100	-4,600	17,900	-3,600^r	-2,900^r
Net income	-60,600	-34,600	-35,200	-35,900	-227,500	-92,000	-31,500	162,000	-46,900^r	-94,500^r
Net income to common shareholders	-64,000	-35,800	-37,600	-40,800	-229,700	-95,600	-31,500	155,600	-49,700^r	-105,400^r
Earnings per share, basic	-4.84	-3.08	-4.81^r	-5.30^b	-29.80^b	-18.80^b	-7.00^b	·	·	-28.30^b
Earnings per share, diluted	-4.84	-3.08	-4.81^r	-5.30^b	-29.80^b	-18.80^b	-7.00^b	·	·	-28.30^b
Earnings per share, basic and diluted	·	·	·	·	·	·	·	·	-11.60^b	-28.30^b
Weighted average shares, basic	13,217,593	10,696,274	7,814,620^r	7,750,000^b	7,710,000^b	5,030,000^b	4,480,000^b	4,430,000^b	4,280,000^rb	3,730,000^rb
Weighted average shares, diluted	13,217,593	10,696,274	7,814,620^r	7,750,000^b	7,710,000^b	5,030,000^rb	4,480,000^b	4,680,000^b	4,280,000^b	3,730,000^rb
Weighted average shares, basic and diluted	·	·	·	·	·	·	·	·	4,282,400^b	3,726,000^b

As filed with the SEC, each figure from the newest report that carries it, and linked to it. Nothing here is computed.Share counts and per-share figures are on the newest report's basis, after the 1-for-10 reverse split of Aug 2024.A dot is a line not tagged for that period. ^r restated by the company in a later report; ^b a share figure put on the newest basis or filed in the wrong unit. Hover a figure for its filing and note.

What each line is, and the XBRL concept behind it

Revenue what customers paid for what it sold

us-gaap:Revenues
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax

Premiums earned insurance premiums earned in the periodus-gaap:PremiumsEarnedNet

Net investment income what its investments earnedus-gaap:NetInvestmentIncome

Cost of revenue what it cost to make or buy what it soldus-gaap:CostOfRevenue

Gross profit revenue less the cost of what it soldus-gaap:GrossProfit

Selling, general and administrative the cost of selling and of running the companyus-gaap:SellingGeneralAndAdministrativeExpense

Total operating expenses the running costs togetherus-gaap:OperatingExpenses

Total costs and expenses every operating cost, the cost of revenue includedus-gaap:CostsAndExpenses

Operating income profit from running the business, before interest and taxus-gaap:OperatingIncomeLoss

Interest expense what its borrowing cost

us-gaap:InterestExpenseNonoperating
us-gaap:InterestExpense

Interest and investment income what its cash and investments earnedus-gaap:InvestmentIncomeInterest

Share of profit of equity-method investments its share of companies it partly ownsus-gaap:IncomeLossFromEquityMethodInvestments

Other income (expense), net gains and costs outside the businessus-gaap:OtherNonoperatingIncomeExpense

Income before income taxes profit before taxus-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Income tax expense tax charged on the period's profitus-gaap:IncomeTaxExpenseBenefit

Income from continuing operations profit from the businesses it keepsus-gaap:IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest

Income from discontinued operations profit or loss from businesses it sold or closedus-gaap:IncomeLossFromDiscontinuedOperationsNetOfTax

Net income including non-controlling interests the whole group's profit, minority holders' share includedus-gaap:ProfitLoss

Net income to non-controlling interests the share that belongs to minority holdersus-gaap:NetIncomeLossAttributableToNoncontrollingInterest

Net income the profit or loss that belongs to the company's shareholdersus-gaap:NetIncomeLoss

Net income to common shareholders what is left for common shareholdersus-gaap:NetIncomeLossAvailableToCommonStockholdersBasic

Earnings per share, basic net income per share outstandingus-gaap:EarningsPerShareBasic

Earnings per share, diluted net income per share, counting every share that could be issuedus-gaap:EarningsPerShareDiluted

Earnings per share, basic and diluted net income per share, where both counts are the sameus-gaap:EarningsPerShareBasicAndDiluted

Weighted average shares, basic the average count of shares outstandingus-gaap:WeightedAverageNumberOfSharesOutstandingBasic

Weighted average shares, diluted the average count with every share that could be issuedus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Weighted average shares, basic and diluted the average count, where both counts are the sameus-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted

SI Assistanton VATE · research, not advice