INNOVATE Q4 rev surges 62% to $382.7M; net loss narrows to $7.8M; backlog $1.8B

INNOVATE Corp.

Q4 revenue $382.7M (+61.7% YoY); net loss $7.8M ($0.58 EPS) vs $16.9M loss a year ago.
FY 2025 revenue $1.246B (+12.5%); net loss $64.0M ($4.84 EPS) vs $35.8M loss in 2024.
Q4 total Adjusted EBITDA $24.5M (+63.3% YoY); FY Adj EBITDA $67.2M, down 5.8% from $71.3M.
DBMG (Infrastructure) backlog $1.8B, up from $1.1B a year ago; Q4 segment revenue $373.9M (+65.7%).
R2 Life Sciences secured 600-system minimum purchase commitment in China; MediBeacon got FDA approval for next-gen TGFR.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INNOVATE Corp. reported the fourth quarter and full year ended December 31, 2025 results: revenue $ 382.7, net income $ (7.8), EPS $(0.58).

Period: the fourth quarter and full year ended December 31, 2025
Revenue: $ 382.7
Net income: $ (7.8)
EPS: $(0.58)
Result: reported results

Exact text from the filing

Summary (in millions, except per share amounts) Three Months Ended December 31, Year Ended December 31, 2025 2024 Increase / (Decrease) 2025 2024 Increase / (Decrease) Revenue $ 382.7 $ 236.6 61.7 % $ 1,246.0 $ 1,107.1 12.5 % Net loss attributable to common stockholders and participating preferred stockholders $ (7.8) $ (16.9) 53.8 % $ (64.0) $ (35.8) (78.8) %

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Source: SEC EDGAR

accession 0001006837-26-000013

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