INNOVATE Q1 revenue up 33% to $364.8M; net loss narrows to $17.2M; adjusted EBITDA rises 174% to $19.7M

INNOVATE Corp.

2026-Q1 EPS reported -$1.29 revenue$364,800,000

Infrastructure segment revenue $357.9M (+35.1% YoY); DBMG reported backlog $1.6B, adjusted backlog $1.8B.
Life Sciences: MediBeacon received CE mark under EU MDR for Transdermal GFR Monitor and Reusable Sensor.
Spectrum revenue $5.3M (down 14.5% YoY) on advertising softness; collaborative trials underway with major carrier.
Net loss per diluted share improved to ($1.29) from ($1.89) YoY; Total Adjusted EBITDA $19.7M vs $7.2M.
Cash and cash equivalents $134.6M at March 31, 2026; non-operating corporate cash $2.5M.

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