INNOVATE Q2 net income $10.4M vs loss; revenue up 74% to $421.6M; DBMG record quarter

INNOVATE Corp.

Revenue $421.6M (+74.2% YoY); diluted EPS $0.71 vs ($1.67); Total Adj. EBITDA $46.3M (+194.9%).
Infrastructure (DBMG) revenue $414.0M (+77.6%), net income $26.4M, Adj. EBITDA $48.7M; adjusted backlog $2.7B.
Broadcasting refinanced with $105M loan; INNOVATE agreed to sell ~75% stake to CONX, retaining ~25%.
Life Sciences: MediBeacon engaged with 100+ institutions; R2 revenue $2.2M, opex cut 50% YoY.
Pursuing asset dispositions including sale of DBMG assets/equity and majority of Broadcasting.

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