INNOVATE Corp. (VATE) — Financial statements
Income statement, balance sheet, and cash flow for INNOVATE Corp. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 1,246↑12.5% | 1,107↓22.2% | 1,423↓13.1% | 1,637↑35.9% | 1,205 | |
| Cost of Revenue | 1,064↑18.4% | 898↓25.6% | 1,207↓14.8% | 1,416↑38.6% | 1,022 | |
| Gross Profit | 182↓12.7% | 209↓3.3% | 216↓2.4% | 221↑20.5% | 184 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 148 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other Expenses | 0.00↓100.0% | 169↓10.9% | 190↓8.9% | 208↑7.1% | 194 | |
| Operating Expenses | 148↓12.3% | 169↓10.9% | 190↓8.9% | 208↑7.1% | 194 | |
| Total Costs & Expenses | 1,212↑13.6% | 1,067↓23.6% | 1,397↓14.0% | 1,624↑33.6% | 1,216 | |
| Operating Results | ||||||
| Operating Income | 34↓14.5% | 40↑50.9% | 27↑97.8% | 13↑226.4% | -11 | |
| Depreciation & Amortization | 30↓7.6% | 33↓8.6% | 36↓14.7% | 42↑12.2% | 38 | |
| EBITDA | 65↓11.4% | 73↑15.5% | 63↑0.5% | 63↑97.5% | 32 | |
| EBIT | 34↓14.5% | 40↑47.6% | 27↑31.6% | 21↑455.2% | -6 | |
| Interest & Other Income | ||||||
| Net Interest Income | -88↓22.8% | -72↓5.4% | -68↓31.2% | -52↑12.0% | -59 | |
| Interest Income | 0.70↓73.1% | 3 | 0.00 | 0.00 | 0.00 | |
| Interest Expense | 89↑19.5% | 75↑9.2% | 68↑31.2% | 52↓12.0% | 59 | |
| Non-Operating Income | 0.00 | 0.00↑100.0% | -0.60↑91.7% | -7↓50.0% | -5 | |
| Other Income / Expenses | -96↓30.4% | -73↓20.5% | -61↓11.7% | -55↑22.3% | -70 | |
| Income Before Tax | -62↓84.1% | -33↑2.9% | -34↑16.3% | -41↑49.1% | -81 | |
| Income Tax Expense | 3↓60.3% | 6↑40.0% | 5↑400.0% | 0.90↓83.9% | 6 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | -64↓61.2% | -40↓2.1% | -39↑7.4% | -42↑51.3% | -86 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00↑100.0% | -150 | |
| Net Income | -61↓75.1% | -35↑1.7% | -35↑1.9% | -36↑84.2% | -228 | |
| Bottom-Line Net Income | -64↓78.8% | -36↑4.8% | -38↑7.8% | -41↑48.9% | -80 | |
| EPS (Basic) | -4.84↓77.3% | -2.73↑42.9% | -4.78↑9.1% | -5.26↑49.2% | -10.35 | |
| EPS (Diluted) | -4.84↓77.3% | -2.73↑42.9% | -4.78↑9.1% | -5.26↑49.2% | -10.35 | |
| Weighted Average Shares | 13↑0.9% | 13↑66.5% | 8↑1.5% | 8↑0.5% | 8 | |
| Weighted Average Diluted Shares | 13↑0.9% | 13↑66.5% | 8↑1.5% | 8↑0.5% | 8 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.