---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-24-000017"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2024-03-04T23:59:59+00:00"
generated_at: "2026-06-05T04:31:05.774353+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# INNOVATE Q4 revenue down 11.8% to $361M; NYSE notifies of $1 non-compliance

## Summary
- Q4 net loss attributable to common stock $9.6M ($0.12 EPS) vs $7.0M ($0.09) a year ago.
- Infrastructure segment (DBM Global) revenue $353.8M; gross margin expanded 200 bps to 16.4%.
- Spectrum segment revenue fell to $5.7M from $10.7M due to Azteca network termination.
- NYSE notified company of non-compliance with $1 minimum average closing price; 6-month cure period.
- Life Sciences: R2 sold out Glacial fx inventory; MediBeacon continues pursuing FDA approval in 2024.

## SEC filing metadata
- accession: 0001006837-24-000017
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2024-03-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1006837/000100683724000017/0001006837-24-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000017/hchc-20240304.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-24-000017
- JSON: https://secwatch.observer/filing/0001006837-24-000017.json
- Plain text: https://secwatch.observer/filing/0001006837-24-000017.txt

## Key facts
- Earnings Releases
  INNOVATE Corp. reported the fourth quarter and full year ended December 31, 2023 results: revenue $361.0 million, net income $(9.6) million, EPS $(0.12) per fully diluted share.
  - Period: the fourth quarter and full year ended December 31, 2023
  - Revenue: $361.0 million
  - Net income: $(9.6) million
  - EPS: $(0.12) per fully diluted share
  - Result: reported results
  source text: compared to $2.5 million in the prior year quarter. 2 Fourth Quarter 2023 Financial Highlights • Revenue: For the fourth quarter of 2023, INNOVATE's consolidated revenue was $361.0 million, a decrease of 11.8%, compared to $409.3 million for the prior year quarter. The decrease was primarily driven by our Infrastructure segment, and, to a lesser extent, our
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000017/0001006837-24-000017-index.htm

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