INNOVATE Q1 revenue $274.2M (-13% YoY); net loss widens to $24.8M; MediBeacon TGFR gets FDA approval

INNOVATE Corp.

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

Revenue $274.2M, down 13% YoY; net loss attributable to common $24.8M ($1.89 per share), vs $17.7M loss YoY.
DBM Global revenue $264.9M (-14% YoY); adjusted backlog $1.4B, added over $500M in new awards.
MediBeacon TGFR system received FDA approval in Jan to assess kidney function; also NMPA China approval.
Life Sciences R2 revenue tripled to $3.1M; unit sales up 163% YoY.
Spectrum revenue $6.2M; signed contract for two new OTA networks; datacasting revenue expected by year-end.

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