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INNOVATE (VATE) is a Industrials company in the Russell 2000. Latest news and coverage below.
INNOVATE revenue & net income history (FY2016–FY2025)
RevenueNet income
| FY2016Dec 2016 | FY2017Dec 2017 | FY2018Dec 2018 | FY2019Dec 2019 | FY2020Dec 2020 | FY2021Dec 2021 | FY2022Dec 2022 | FY2023Dec 2023 | FY2024Dec 2024 | FY2025Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.56B | $1.63B | $1.98B | $1.08B | $716.9M | $1.21B | $1.64B | $1.42B | $1.11B | $1.25B |
| Growth (year over year) | +39.0% | +4.9% | +21.0% | −45.5% | −33.4% | +68.1% | +35.9% | −13.1% | −22.2% | +12.5% |
| Gross profit | $304.1M | $321.0M | $391.5M | $481.0M | $128.4M | $183.7M | $221.4M | $216.0M | $208.8M | $199.7M |
| Gross margin | 19.5% | 19.6% | 19.8% | 44.7% | 17.9% | 15.2% | 13.5% | 15.2% | 18.9% | 16.0% |
| Operating income | −$1.50M | −$1.10M | −$55.8M | $25.3M | −$28.3M | −$10.6M | $13.4M | $26.5M | $40.0M | $28.7M |
| Operating margin | −0.1% | −0.1% | −2.8% | 2.3% | −3.9% | −0.9% | 0.8% | 1.9% | 3.6% | 2.3% |
| Net income | −$94.5M | −$46.9M | $162.0M | −$31.5M | −$92.0M | −$227.5M | −$35.9M | −$35.2M | −$34.6M | −$60.6M |
| Net margin | −6.1% | −2.9% | 8.2% | −2.9% | −12.8% | −18.9% | −2.2% | −2.5% | −3.1% | −4.9% |
| EPS (diluted) | −$28.30 | −$116.00 | — | −$7.00 | −$18.80 | −$29.80 | −$5.30 | −$4.81 | −$3.08 | −$4.84 |
| Balance sheet | ||||||||||
| Cash and equivalents | $115.4M | $97.9M | $300.7M | $23.3M | $43.8M | $45.5M | $80.4M | $80.8M | $41.8M | $108.2M |
| Total assets | $2.84B | $3.22B | $6.50B | $6.96B | $6.72B | $1.08B | $1.15B | $1.04B | $891.1M | $950.1M |
| Total liabilities | $2.74B | $3.00B | $6.28B | $6.49B | $6.11B | $1.07B | $1.18B | $1.18B | $1.03B | $1.17B |
| Long-term debt | $428.5M | — | — | $1.03B | $127.9M | $556.8M | $683.8M | $679.3M | $500.6M | $80.3M |
| Shareholders' equity | $44.2M | $73.1M | $88.1M | $349.8M | $559.8M | −$84.3M | −$121.3M | −$165.5M | −$180.4M | −$240.1M |
| Cash flow | ||||||||||
| Operating cash flow | $79.1M | $6.60M | $341.4M | $110.7M | $41.1M | $27.0M | −$9.50M | $26.5M | $9.10M | $146.6M |
| Capital expenditure | $29.0M | $31.9M | $39.7M | $24.7M | $17.8M | $24.1M | $20.7M | $18.4M | $19.0M | $500.0K |
| Free cash flow | $50.1M | −$25.3M | $301.7M | $86.0M | $23.3M | $2.90M | −$30.2M | $8.10M | −$9.90M | $146.1M |
| Dividends paid | $1.30M | $500.0K | $500.0K | — | — | $2.90M | $5.20M | $2.20M | $1.20M | $2.20M |
RevenueNet income
| Q3 FY24Sep 2024 | Q4 FY24†Dec 2024 | Q1 FY25Mar 2025 | Q2 FY25Jun 2025 | Q3 FY25Sep 2025 | Q4 FY25†Dec 2025 | Q1 FY26Mar 2026 | Q2 FY26Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $242.2M | $236.6M | $274.2M | $242.0M | $347.1M | $382.7M | $364.8M | $421.6M |
| Growth (year over year) | −35.5% | −34.5% | −13.0% | −22.7% | +43.3% | +61.7% | +33.0% | +74.2% |
| Gross profit | $48.2M | $46.4M | $45.5M | $45.6M | $49.7M | $58.9M | $53.5M | $79.5M |
| Gross margin | 19.9% | 19.6% | 16.6% | 18.8% | 14.3% | 15.4% | 14.7% | 18.9% |
| Operating income | $5.90M | $2.50M | $3.40M | $4.90M | $6.10M | $14.3M | $10.0M | $34.5M |
| Operating margin | 2.4% | 1.1% | 1.2% | 2.0% | 1.8% | 3.7% | 2.7% | 8.2% |
| Net income | −$15.0M | −$16.6M | −$24.5M | −$19.8M | −$8.90M | −$7.40M | −$16.8M | $10.7M |
| Net margin | −6.2% | −7.0% | −8.9% | −8.2% | −2.6% | −1.9% | −4.6% | 2.5% |
| EPS (diluted) | −$1.18 | −$0.72 | −$1.89 | −$1.67 | −$0.71 | −$0.57 | −$1.29 | $0.71 |
| Balance sheet | ||||||||
| Cash and equivalents | $51.0M | $41.8M | $33.3M | $27.8M | $35.5M | $108.2M | $134.6M | $87.8M |
| Total assets | $897.2M | $891.1M | $868.0M | $890.9M | $913.2M | $950.1M | $936.8M | $1.01B |
| Total liabilities | $1.02B | $1.03B | $1.04B | $1.08B | $1.12B | $1.17B | $1.17B | $1.23B |
| Long-term debt | $502.4M | $500.6M | $139.9M | $160.1M | $97.3M | $80.3M | $68.8M | $62.1M |
| Shareholders' equity | −$163.1M | −$180.4M | −$204.2M | −$224.8M | −$233.3M | −$240.1M | −$256.3M | −$243.2M |
| Cash flow | ||||||||
| Operating cash flow | −$28.4M | $41.4M | −$14.1M | $40.4M | $19.2M | $101.1M | $45.5M | −$24.6M |
| Capital expenditure | $3.10M | $7.20M | $4.70M | −$4.40M | $200.0K | $0 | $200.0K | $100.0K |
| Free cash flow | −$31.5M | $34.2M | −$18.8M | $44.8M | $19.0M | $101.1M | $45.3M | −$24.7M |
| Dividends paid | $300.0K | $300.0K | $300.0K | $800.0K | $400.0K | $700.0K | $400.0K | $300.0K |
From INNOVATE's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
About INNOVATE
- Headquarters
- New York, New York From SEC filings, Oct 2026
Recent News (1)
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