---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-23-000127"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T05:59:48.502520+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# INNOVATE Q3 rev $375M (-11% YoY), Adj EBITDA $22.1M (+35%); extends note maturity to 2025

## Summary
- Net loss $7.3M ($0.09/sh) flat YoY; Adj EBITDA $22.1M vs $16.4M (+34.8%).
- Infrastructure DBM Global rev $369.3M (-10.5%), Adj EBITDA margin 8.3% (+170bps), backlog $1.3B.
- Spectrum rev $5.4M (-41%) due to Azteca closure; exploring datacasting partnerships with HPE and PBS.
- Life Sciences rev $0.6M, loss narrows; MediBeacon continues FDA approval process.
- Post-quarter: extended $69.7M secured notes maturity to Aug 2025; INNOVATE to use sale proceeds for repayment.

## SEC filing metadata
- accession: 0001006837-23-000127
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006837/000100683723000127/0001006837-23-000127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683723000127/hchc-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-23-000127
- JSON: https://secwatch.observer/filing/0001006837-23-000127.json
- Plain text: https://secwatch.observer/filing/0001006837-23-000127.txt

## Key facts
- Earnings Releases
  INNOVATE Corp. reported third quarter 2023 results: revenue $375.3 million, net income Net loss attributable to common stockholders of $7.3 million, EPS $0.09 per fully diluted share.
  - Period: third quarter 2023
  - Revenue: $375.3 million
  - Net income: Net loss attributable to common stockholders of $7.3 million
  - EPS: $0.09 per fully diluted share
  - Result: reported results
  source text: Adjusted EBITDA (1) $ 22.1 $ 16.4 34.8 % $ 43.5 $ 40.0 8.7 % (1) Reconciliation of GAAP to Non-GAAP measures follows Commentary “INNOVATE delivered third quarter revenue of $375.3 million and experienced strong Adjusted EBITDA growth of 34.8%, which was primarily driven by our Infrastructure and Life Sciences operating segments," said Avie Glazer, Chairman of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006837/000100683723000127/0001006837-23-000127-index.htm

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