secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATE Corp. (VATE)
CIK:        0001006837
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0001006837-22-000116
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1006837/000100683722000116/0001006837-22-000116-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1006837/000100683722000116/hchc-20221027.htm
  HTML page:      https://secwatch.observer/filing/0001006837-22-000116

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