INNOVATE reports Q4 revenue down 34.5% to $236.6M; net loss widens to $16.9M; MediBeacon TGFR receives FDA approval

INNOVATE Corp.

2025-Q1 EPS reported -$1.89 revenue$274,200,000

Q4 2024 revenue $236.6M (-34.5% YoY); net loss attributable to common $16.9M ($1.29 loss per share).
Full year 2024 revenue $1.11B (-22.2% YoY); Adjusted EBITDA $71.3M (+9.7% YoY).
Infrastructure segment Q4 revenue $225.7M (-36.2%); adjusted backlog $1.1B; added >$500M to backlog post-year-end.
MediBeacon TGFR received FDA approval Jan 2025 for kidney function assessment; also NMPA approval in China Feb 2025.
Broadcasting Q4 revenue $6.8M (+19.3% YoY); Life Sciences revenue $4.1M (R2 unit sales +113% Q4 YoY).

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