---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-26-000013"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2026-03-26T23:59:59+00:00"
generated_at: "2026-05-15T08:46:40.559266+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001006837-26-000013
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2026-03-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006837/000100683726000013/0001006837-26-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683726000013/vate-20260326.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-26-000013
- JSON: https://secwatch.observer/filing/0001006837-26-000013.json
- Plain text: https://secwatch.observer/filing/0001006837-26-000013.txt

## Key facts
- Earnings Releases
  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
  source text: 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) %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006837/000100683726000013/0001006837-26-000013-index.htm

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