---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-24-000078"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T15:19:08.615477+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# INNOVATE Q1 revenue $315M (-0.8%); net loss $17.7M, adj EBITDA $12.8M (+161%)

## Summary
- Revenue $315.2M (down 0.8% YoY); net loss attributable to common $17.7M vs $10.2M loss in Q1 2023.
- Total adjusted EBITDA $12.8M (up 161% YoY), driven by margin expansion at DBMG and cost cuts at R2.
- Infrastructure revenue $307.9M, net income $4.4M; backlog $0.9B reported, $1.2B adjusted.
- Life Sciences: R2 record North America system sales (400+ units); MediBeacon in ongoing FDA discussions.
- Closed rights offering Apr 24: issued 5.3M common at $0.70 ($3.7M) and 31.3K preferred to Lancer ($31.3M).

## SEC filing metadata
- accession: 0001006837-24-000078
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000078/0001006837-24-000078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000078/hchc-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-24-000078
- JSON: https://secwatch.observer/filing/0001006837-24-000078.json
- Plain text: https://secwatch.observer/filing/0001006837-24-000078.txt

## Key facts
- Earnings Releases
  INNOVATE Corp. reported the quarter ended March 31, 2024 results: revenue $315.2 million, net income $17.7 million, EPS $0.22 per fully diluted share.
  - Period: the quarter ended March 31, 2024
  - Revenue: $315.2 million
  - Net income: $17.7 million
  - EPS: $0.22 per fully diluted share
  - Result: reported results
  source text: stockholders $ (0.22) $ (0.13) (69.2) % Total Adjusted EBITDA (1) $ 12.8 $ 4.9 161.2 % (1) Reconciliation of GAAP to Non-GAAP measures follows Commentary “INNOVATE delivered $315.2 million in revenue in the first quarter as the three business segments experienced a strong start to 2024,” said Avie Glazer, Chairman of INNOVATE. “Infrastructure's first quarter top
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000078/0001006837-24-000078-index.htm

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