---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-23-000097"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T21:06:58.889599+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# INNOVATE Q2 net loss narrows to $10.5M; CEO Wayne Barr passes, Paul Voigt appointed

## Summary
- Net loss attributable to common stockholders improved to $10.5M ($0.13/share) from $13.6M loss a year ago.
- Total adjusted EBITDA rose 36% to $16.5M; Infrastructure segment (DBM Global) posted $23.5M adj EBITDA.
- CEO Wayne Barr Jr. passed away; Paul Voigt appointed as CEO (previously President of Infrastructure).
- DBM Global revenue $362.4M, backlog $1.5B; MediBeacon filed Phase 3 Transdermal GFR Study Report with FDA.
- Purchased DBM Global Series A Preferred from CGIC for $42.2M ($7.1M cash + $35.1M note due 2026).

## SEC filing metadata
- accession: 0001006837-23-000097
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006837/000100683723000097/0001006837-23-000097-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683723000097/hchc-20230809.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-23-000097
- JSON: https://secwatch.observer/filing/0001006837-23-000097.json
- Plain text: https://secwatch.observer/filing/0001006837-23-000097.txt

## Key facts
- Earnings Releases
  INNOVATE Corp. reported the three and six months ended June 30, 2023 results: revenue $368.8 million, net income $(10.5) million, EPS $(0.13) per fully diluted share.
  - Period: the three and six months ended June 30, 2023
  - Revenue: $368.8 million
  - Net income: $(10.5) million
  - EPS: $(0.13) per fully diluted share
  - Result: reported results
  source text: $ 16.5 $ 12.1 36.4 % $ 21.4 $ 23.6 (9.3) % (1) Reconciliation of GAAP to Non-GAAP measures follows Commentary “INNOVATE reported strong second quarter results with revenue of $368.8 million and adjusted EBITDA of $16.5 million, as our operating segments are capitalizing on attractive market opportunities," said Avie Glazer, Chairman of INNOVATE. “The strength in the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006837/000100683723000097/0001006837-23-000097-index.htm

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