{"schema_version":"secwatch.filing_event.v1","accession":"0001006837-23-000062","form_type":"8-K","ticker":"VATE","cik":"0001006837","company_name":"INNOVATE Corp.","filed_at":"2023-05-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.559401+00:00","generated_at":"2026-06-15T05:40:00.279065+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"INNOVATE Q1 revenue down 23% to $317.9M; adj. EBITDA $4.9M vs $11.5M","bullets":["Net loss attributable to common $10.2M ($0.13/shr) improved from $13.6M loss ($0.18/shr).","Infrastructure revenue $311.7M (-22.5%); adj. EBITDA $16.3M vs $20.5M; backlog $1.6B.","Life Sciences: R2 shipped 273 GLACIAL devices, three new FDA clearances; MediBeacon submission Q2.","Spectrum revenue $5.7M (down 42%) as Azteca ended; adj. EBITDA $0.4M vs $1.3M.","Cash $16.6M (from $80.4M year-end); drew $8M on revolver post-quarter to $13M."],"urls":{"canonical":"https://secwatch.observer/filing/0001006837-23-000062","json":"https://secwatch.observer/filing/0001006837-23-000062.json","markdown":"https://secwatch.observer/filing/0001006837-23-000062.md","text":"https://secwatch.observer/filing/0001006837-23-000062.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1006837/000100683723000062/0001006837-23-000062-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1006837/000100683723000062/hchc-20230510.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T05:40:00.279065+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"f0751003203631298b8397e35794820c2614a492","claim":"INNOVATE Corp. reported three months ended March 31, 2023 results: revenue $317.9 million, net income $(10.2) million, EPS $(0.13) per fully diluted share.","evidence_excerpt":"to enhance patient outcomes. And at Spectrum, we continue to expect better profitability in that business once the new channels are at run rate.\" “We achieved revenue of $317.9 million and adjusted EBITDA of $4.9 million amid a difficult first quarter operating environment for our businesses,” said Wayne Barr, Jr., Chief Executive Officer of INNOVATE. “In","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1006837/000100683723000062/0001006837-23-000062-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three months ended March 31, 2023"},{"label":"Revenue","value":"$317.9 million"},{"label":"Net income","value":"$(10.2) million"},{"label":"EPS","value":"$(0.13) per fully diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}