---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-22-000116"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2022-11-02T23:59:59+00:00"
generated_at: "2026-06-22T11:26:52.029528+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# INNOVATE Q3 revenue up 7.1% to $423M; net loss narrows but NYSE issues $1.00 minimum price notice

## Summary
- Revenue $423.0M (+7.1% YoY); Net loss attrib. to common $6.6M vs $213.0M prior year (incl. disc. ops). Diluted EPS -$0.09.
- Infrastructure (DBM Global) rev. $412.7M (+7.8%), backlog $1.9B, Adj. EBITDA $27.6M (+13.1%).
- Life Sciences: MediBeacon pivotal study 85% enrolled; R2 shipped 215 GLACIAL devices YTD.
- Spectrum rev. down 10.8% to $9.1M; exiting Azteca; Adj. EBITDA $0.3M vs $1.8M prior year.
- NYSE notified VATE: avg. closing price <$1.00 over 30 days; 6-month cure period to regain compliance.

## SEC filing metadata
- accession: 0001006837-22-000116
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2022-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 3.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006837/000100683722000116/0001006837-22-000116-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683722000116/hchc-20221027.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-22-000116
- JSON: https://secwatch.observer/filing/0001006837-22-000116.json
- Plain text: https://secwatch.observer/filing/0001006837-22-000116.txt

## Key facts
- Earnings Releases
  INNOVATE Corp. reported three and nine months ended September 30, 2022 results: revenue $423.0 million, net income Net loss attributable to common stock and participating preferred stockholders of $6.6 million, EPS $0.09 per fully diluted share.
  - Period: three and nine months ended September 30, 2022
  - Revenue: $423.0 million
  - Net income: Net loss attributable to common stock and participating preferred stockholders of $6.6 million
  - EPS: $0.09 per fully diluted share
  - Result: reported results
  source text: million in the prior year quarter. 2 Third Quarter Financial Highlights • Revenue: For the third quarter of 2022, INNOVATE's consolidated revenue from continuing operations was $423.0 million, an increase of 7.1% compared to $394.8 million for the prior year quarter. The increase in revenue was due to contributions from the Company’s Infrastructure segment. REVENUE by
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006837/000100683722000116/0001006837-22-000116-index.htm
- Listing & Compliance Notices
  INNOVATE Corp. received a nyse noncompliance notice notice regarding minimum bid price (rules 802.01C).
  - Exchange: nyse
  - Notice: noncompliance notice
  - Deficiency: minimum bid price
  - Rules: 802.01C
  source text: October 27, 2022, INNOVATE Corp. (the “Company”) received a written notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) that it was not in compliance with the continued listing standard set forth in Section 802.01C of the NYSE’s Listed Company Manual (“Section 802.01C”), as the average closing price of the Company’s common stock (the “Common Stock”) was less than $1.00 per share over a consecutive 30 trading-day period. The Notice has no immediate impact on the listing of the Company’s Common Stock on the NYSE, subject to the Company’s compliance with the NYSE’s other continued
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006837/000100683722000116/0001006837-22-000116-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.