# INNOVATE Corp.: financial statements, quarterly

VATE · NYSE · CIK 1006837 · [Industrials](/sectors/industrials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/vate.md) · [Financials](/companies/vate/financials.md) · [Filings](/companies/vate/filings.md) · [Insiders](/companies/vate/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/vate/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [375](/filings/0001006837-24-000155.md) | [361 d](/filings/0001006837-24-000023.md) | [315](/filings/0001006837-24-000079.md) | [313](/filings/0001006837-24-000122.md) | [242](/filings/0001006837-24-000155.md) | [237 d](/filings/0001006837-26-000014.md) | [274](/filings/0001006837-26-000039.md) | [242](/filings/0001006837-26-000063.md) | [347](/filings/0001006837-25-000127.md) | [383 d](/filings/0001006837-26-000014.md) | [365](/filings/0001006837-26-000039.md) | [422](/filings/0001006837-26-000063.md) |
| Cost of revenue | $m | [317](/filings/0001006837-24-000155.md) | [300 d](/filings/0001006837-25-000021.md) | [267](/filings/0001006837-25-000045.md) | [248](/filings/0001006837-25-000104.md) | [194](/filings/0001006837-25-000127.md) | [190 d](/filings/0001006837-26-000014.md) | [229](/filings/0001006837-26-000039.md) | [196](/filings/0001006837-26-000063.md) | [297](/filings/0001006837-25-000127.md) | [324 d](/filings/0001006837-26-000014.md) | [311](/filings/0001006837-26-000039.md) | [342](/filings/0001006837-26-000063.md) |
| Gross profit | $m | [58.7](/filings/0001006837-24-000155.md) | [61.1 d](/filings/0001006837-25-000021.md) | [48.6](/filings/0001006837-25-000045.md) | [65.6](/filings/0001006837-25-000104.md) | [48.2](/filings/0001006837-25-000127.md) | [46.4 d](/filings/0001006837-26-000014.md) | [45.5](/filings/0001006837-26-000039.md) | [45.6](/filings/0001006837-26-000063.md) | [49.7](/filings/0001006837-25-000127.md) | [58.9 d](/filings/0001006837-26-000014.md) | [53.5](/filings/0001006837-26-000039.md) | [79.5](/filings/0001006837-26-000063.md) |
| Selling, general and administrative | $m | [43.8](/filings/0001006837-24-000155.md) | [41.4 d](/filings/0001006837-25-000021.md) | [39.5](/filings/0001006837-25-000045.md) | [42.9](/filings/0001006837-25-000104.md) | [37.4](/filings/0001006837-25-000127.md) | [40.4 d](/filings/0001006837-26-000014.md) | [37.8](/filings/0001006837-26-000039.md) | [35.1](/filings/0001006837-26-000063.md) | [39.6](/filings/0001006837-25-000127.md) | [40.6 d](/filings/0001006837-26-000014.md) | [39.4](/filings/0001006837-26-000039.md) | [41.5](/filings/0001006837-26-000063.md) |
| Operating income | $m | [10.7](/filings/0001006837-24-000155.md) | [14.0 d](/filings/0001006837-25-000021.md) | [2.8](/filings/0001006837-25-000045.md) | [28.8](/filings/0001006837-25-000104.md) | [5.9](/filings/0001006837-25-000127.md) | [2.5 d](/filings/0001006837-26-000014.md) | [3.4](/filings/0001006837-26-000039.md) | [4.9](/filings/0001006837-26-000063.md) | [6.1](/filings/0001006837-25-000127.md) | [14.3 d](/filings/0001006837-26-000014.md) | [10.0](/filings/0001006837-26-000039.md) | [34.5](/filings/0001006837-26-000063.md) |
| Interest expense | $m | [17.1](/filings/0001006837-23-000128.md) | [19.2 d](/filings/0001006837-24-000023.md) | [17.2](/filings/0001006837-24-000079.md) | [16.5](/filings/0001006837-25-000104.md) | [21.2](/filings/0001006837-25-000127.md) | [19.6 d](/filings/0001006837-26-000014.md) | [20.2](/filings/0001006837-26-000039.md) | [21.4](/filings/0001006837-26-000063.md) | [23.4](/filings/0001006837-25-000127.md) | [24.0 d](/filings/0001006837-26-000014.md) | [24.5](/filings/0001006837-26-000039.md) | [27.6](/filings/0001006837-26-000063.md) |
| Income tax | $m | [1.1](/filings/0001006837-24-000155.md) | [1.3 d](/filings/0001006837-25-000021.md) | [3.3](/filings/0001006837-25-000045.md) | [(2.5)](/filings/0001006837-25-000104.md) | [3.1](/filings/0001006837-25-000127.md) | [2.4 d](/filings/0001006837-26-000014.md) | [7.1](/filings/0001006837-26-000039.md) | [4.2](/filings/0001006837-26-000063.md) | [(7.1)](/filings/0001006837-25-000127.md) | [(1.7) d](/filings/0001006837-26-000014.md) | [2.9](/filings/0001006837-26-000039.md) | [13.1](/filings/0001006837-26-000063.md) |
| Net income | $m | [(7.0)](/filings/0001006837-24-000155.md) | [(9.3) d](/filings/0001006837-25-000021.md) | [(17.4)](/filings/0001006837-25-000045.md) | [14.4](/filings/0001006837-25-000104.md) | [(15.0)](/filings/0001006837-25-000127.md) | [(16.6) d](/filings/0001006837-26-000014.md) | [(24.5)](/filings/0001006837-26-000039.md) | [(19.8)](/filings/0001006837-26-000063.md) | [(8.9)](/filings/0001006837-25-000127.md) | [(7.4) d](/filings/0001006837-26-000014.md) | [(16.8)](/filings/0001006837-26-000039.md) | [10.7](/filings/0001006837-26-000063.md) |
| Diluted EPS | $ per share | [(0.93)](/filings/0001006837-24-000155.md) | not reported | [(2.21)](/filings/0001006837-25-000045.md) | [1.03](/filings/0001006837-25-000104.md) | [(1.18)](/filings/0001006837-25-000127.md) | not reported | [(1.89)](/filings/0001006837-26-000039.md) | [(1.67)](/filings/0001006837-26-000063.md) | [(0.71)](/filings/0001006837-25-000127.md) | not reported | [(1.29)](/filings/0001006837-26-000039.md) | [0.71](/filings/0001006837-26-000063.md) |
| Basic EPS | $ per share | [(0.93)](/filings/0001006837-24-000155.md) | not reported | [(2.21)](/filings/0001006837-25-000045.md) | [1.11](/filings/0001006837-25-000104.md) | [(1.18)](/filings/0001006837-25-000127.md) | not reported | [(1.89)](/filings/0001006837-26-000039.md) | [(1.67)](/filings/0001006837-26-000063.md) | [(0.71)](/filings/0001006837-25-000127.md) | not reported | [(1.29)](/filings/0001006837-26-000039.md) | [0.74](/filings/0001006837-26-000063.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues
- Cost of revenue: us-gaap:CostOfRevenue
- Gross profit: us-gaap:GrossProfit
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [55.7](/filings/0001006837-24-000155.md) | [80.8](/filings/0001006837-26-000014.md) | [38.4](/filings/0001006837-25-000045.md) | [80.2](/filings/0001006837-25-000104.md) | [51.0](/filings/0001006837-25-000127.md) | [41.8](/filings/0001006837-26-000063.md) | [33.3](/filings/0001006837-26-000039.md) | [27.8](/filings/0001006837-26-000063.md) | [35.5](/filings/0001006837-25-000127.md) | [108](/filings/0001006837-26-000063.md) | [135](/filings/0001006837-26-000039.md) | [87.8](/filings/0001006837-26-000063.md) |
| Current assets | $m | [553](/filings/0001006837-23-000128.md) | [518](/filings/0001006837-25-000021.md) | [429](/filings/0001006837-24-000079.md) | [395](/filings/0001006837-24-000122.md) | [400](/filings/0001006837-24-000155.md) | [391](/filings/0001006837-26-000014.md) | [372](/filings/0001006837-25-000045.md) | [398](/filings/0001006837-25-000104.md) | [421](/filings/0001006837-25-000127.md) | [451](/filings/0001006837-26-000063.md) | [406](/filings/0001006837-26-000039.md) | [479](/filings/0001006837-26-000063.md) |
| Total assets | $m | [1,096](/filings/0001006837-23-000128.md) | [1,044](/filings/0001006837-25-000021.md) | [944](/filings/0001006837-24-000079.md) | [899](/filings/0001006837-24-000122.md) | [897](/filings/0001006837-24-000155.md) | [891](/filings/0001006837-26-000014.md) | [868](/filings/0001006837-25-000045.md) | [891](/filings/0001006837-25-000104.md) | [913](/filings/0001006837-25-000127.md) | [950](/filings/0001006837-26-000063.md) | [937](/filings/0001006837-26-000039.md) | [1,007](/filings/0001006837-26-000063.md) |
| Current liabilities | $m | [558](/filings/0001006837-23-000128.md) | [414](/filings/0001006837-25-000021.md) | [349](/filings/0001006837-24-000079.md) | [289](/filings/0001006837-24-000122.md) | [468](/filings/0001006837-24-000155.md) | [483](/filings/0001006837-26-000014.md) | [848](/filings/0001006837-25-000045.md) | [873](/filings/0001006837-25-000104.md) | [974](/filings/0001006837-25-000127.md) | [1,034](/filings/0001006837-26-000063.md) | [1,020](/filings/0001006837-26-000039.md) | [1,083](/filings/0001006837-26-000063.md) |
| Total liabilities | $m | [1,223](/filings/0001006837-23-000128.md) | [1,180](/filings/0001006837-25-000021.md) | [1,078](/filings/0001006837-24-000079.md) | [1,009](/filings/0001006837-24-000122.md) | [1,023](/filings/0001006837-24-000155.md) | [1,035](/filings/0001006837-26-000014.md) | [1,037](/filings/0001006837-25-000045.md) | [1,080](/filings/0001006837-25-000104.md) | [1,121](/filings/0001006837-25-000127.md) | [1,165](/filings/0001006837-26-000063.md) | [1,169](/filings/0001006837-26-000039.md) | [1,227](/filings/0001006837-26-000063.md) |
| Long-term debt | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Current portion of debt | $m | [163](/filings/0001006837-23-000128.md) | [30.5](/filings/0001006837-25-000021.md) | [34.2](/filings/0001006837-24-000079.md) | [50.2](/filings/0001006837-24-000122.md) | [189](/filings/0001006837-24-000155.md) | [162](/filings/0001006837-26-000014.md) | [524](/filings/0001006837-25-000045.md) | [478](/filings/0001006837-25-000104.md) | [572](/filings/0001006837-25-000127.md) | [519](/filings/0001006837-26-000063.md) | [611](/filings/0001006837-26-000039.md) | [554](/filings/0001006837-26-000063.md) |
| Shareholders' equity | $m | [(158)](/filings/0001006837-23-000128.md) | [(166)](/filings/0001006837-25-000021.md) | [(184)](/filings/0001006837-24-000079.md) | [(149)](/filings/0001006837-24-000122.md) | [(163)](/filings/0001006837-24-000155.md) | [(180)](/filings/0001006837-26-000014.md) | [(204)](/filings/0001006837-25-000045.md) | [(225)](/filings/0001006837-25-000104.md) | [(233)](/filings/0001006837-25-000127.md) | [(240)](/filings/0001006837-26-000063.md) | [(256)](/filings/0001006837-26-000039.md) | [(243)](/filings/0001006837-26-000063.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: not reported
- Current portion of debt: us-gaap:LongTermDebtCurrent
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [26.1 d](/filings/0001006837-24-000155.md) | [61.2 d](/filings/0001006837-25-000021.md) | [(25.4)](/filings/0001006837-25-000045.md) | [21.5 d](/filings/0001006837-25-000104.md) | [(28.4) d](/filings/0001006837-25-000127.md) | [41.4 d](/filings/0001006837-26-000014.md) | [(14.1)](/filings/0001006837-26-000039.md) | [40.4 d](/filings/0001006837-26-000063.md) | [19.2 d](/filings/0001006837-25-000127.md) | [101 d](/filings/0001006837-26-000014.md) | [45.5](/filings/0001006837-26-000039.md) | [(24.6) d](/filings/0001006837-26-000063.md) |
| Capital expenditure | $m | [5.7](/filings/0001006837-24-000155.md) | [4.5 d](/filings/0001006837-25-000021.md) | [5.6](/filings/0001006837-25-000045.md) | [3.1](/filings/0001006837-24-000122.md) | [3.1](/filings/0001006837-24-000155.md) | [7.2 d](/filings/0001006837-25-000021.md) | [4.7](/filings/0001006837-25-000045.md) | [(4.4) d](/filings/0001006837-26-000063.md) | [0.2 d](/filings/0001006837-25-000127.md) | [0.0 d](/filings/0001006837-26-000014.md) | [0.2](/filings/0001006837-26-000039.md) | [0.1 d](/filings/0001006837-26-000063.md) |
| Dividends paid | $m | [0.2 d](/filings/0001006837-24-000155.md) | [0.4 d](/filings/0001006837-25-000021.md) | [0.3](/filings/0001006837-25-000045.md) | [0.3 d](/filings/0001006837-25-000104.md) | [0.3 d](/filings/0001006837-25-000127.md) | [0.3 d](/filings/0001006837-26-000014.md) | [0.3](/filings/0001006837-26-000039.md) | [0.8 d](/filings/0001006837-26-000063.md) | [0.4 d](/filings/0001006837-25-000127.md) | [0.7 d](/filings/0001006837-26-000014.md) | [0.4](/filings/0001006837-26-000039.md) | [0.3 d](/filings/0001006837-26-000063.md) |
| Share repurchases | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets, us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Dividends paid: us-gaap:PaymentsOfDividends
- Share repurchases: not reported

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [77.6](/filings/0001006837-23-000128.md) | [77.7](/filings/0001006837-24-000079.md) | [77.9](/filings/0001006837-24-000122.md) | [7.8](/filings/0001006837-24-000155.md) | [7.9](/filings/0001006837-25-000045.md) | [14.4](/filings/0001006837-25-000104.md) | [13.0](/filings/0001006837-25-000127.md) | [13.1](/filings/0001006837-26-000039.md) | [13.1](/filings/0001006837-26-000063.md) | [13.3](/filings/0001006837-25-000127.md) | [13.3](/filings/0001006837-26-000039.md) | [14.0](/filings/0001006837-26-000063.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 13,641,866 at 2026-08-03, from the cover of the [10-Q filed 2026-08-06](/filings/0001006837-26-000063.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:30 ET. No prices; not investment advice.