Computershare, Inc. ("Computershare"), the Company's transfer agent, is acting as the exchange agent for the Reverse Stock Split. Stockholders holding their shares electronically in book-entry form will not need to take any action. Stockholders holding certificated shares will be required to turn in their existing certificates, and all new shares will be issued in book-entry form, unless such stockholder requests otherwise. NEW YORK, July 19, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. ("INNOVATE" or the "Compa ...

The primary goal of the reverse stock split is to increase the per share market price of the Company's Common Stock to meet the minimum per share bid price requirement for continued listing on the NYSE. The reverse stock split was approved by the Company's stockholders at its annual meeting of stockholders held on June 18, 2024. Computershare, Inc. ("Computershare"), the Company's transfer agent, is acting as the exchange agent for the Reverse Stock Split. Stockholders holding their shares electronically in ...

About INNOVATE Dial-in instructions for the conference call and the replay are outlined below. This conference call will also be broadcast live over the internet and can be accessed by all interested parties through INNOVATE's Investor Relations website at www.innovate-ir.com. To listen to the live call, please go to the "Investor Relations" section of the Company's website at least 15 minutes prior to the start of the call to register and download any necessary audio software. For those who are not able to ...

INNOVATE Corp. (NYSE:VATE) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET Company Participants Paul Voigt – Interim Chief Executive Officer Mike Sena – Chief Financial Officer Conference Call Participants Operator Good afternoon, and welcome to INNOVATE Corp.’s First Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. After the prepared remarks and presentation, there will be a question-and-answer session. Please note this event is being recorded. I would now like ...

INNOVATE Corp. Q1 2024 Earnings Release Supplement INNOVATE Corp. ™ 2024 Cautionary Statement Regarding Forward-Looking Statements The Company believes these judgments are reasonable, but these statements are not guarantees of performance, results or the creation of stockholder value and the Company's actual results could differ materially from those expressed or implied in the forward-looking statements due to a variety of important factors, both positive and negative, including those that may be identifie ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File No. 001-35210 INNOVATE CORP. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) Delaware 54-1708481 (State or other jurisdiction of incorporation or organization) 295 Madison Ave ...

- Spectrum: Broadcasting's revenue growth driven by launch of new networks - NEW YORK, NY, May 7, 2024 - INNOVATE Corp. ("INNOVATE" or the "Company") (NYSE: VATE) announced today its consolidated results for the first quarter. FOR IMMEDIATE RELEASE INNOVATE Corp. Announces First Quarter 2024 Results - Infrastructure: DBM Global achieved first quarter revenue of $307.9 million - - Life Sciences: R2 delivered record North America system sales in the first quarter 2024 - Financial Summary | (in millions, excep ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission File No. 001-35210 INNOVATE CORP. (Exact name of registrant as specified in its charter) Delaware 54-1708481 (State or other jurisdiction of incorporation or organization) 295 Madison Ave., 12 ...

Financial Data and Key Metrics Changes - INNOVATE reported revenues of $361 million in Q4 2023, a decrease of 11.8% compared to $409.3 million in the prior-year period [41] - Adjusted EBITDA for Q4 2023 was $21.5 million, down from $28.1 million in the prior-year period, driven by declines in multiple segments [42] - The net loss attributable to common stockholders for Q4 2023 was $9.6 million or $0.12 per share, compared to a net loss of $7 million or $0.09 per share in the prior-year period [20] Business Line Data and Key Metrics Changes - DBM Global achieved revenues of $353.8 million in Q4 2023, with adjusted EBITDA of $30 million, and expanded gross margins by approximately 200 basis points [6] - R2 Technologies experienced a 173% increase in monthly patients treated year-over-year and a 106% increase in average monthly utilization per Glacial provider [7] - Spectrum's revenue decreased to $5.7 million, down $5 million compared to Q4 2022, primarily due to the elimination of advertising revenues at Azteca [46] Market Data and Key Metrics Changes - R2 Technologies reported a 213% increase in social media impressions and a 491% increase in provider location searches from 2022 to 2023 [36] - The reported backlog for DBM was $1.1 billion as of December 31, 2023, down from $1.8 billion at the end of 2022 [22] Company Strategy and Development Direction - The company is focused on optimizing the value of its assets and is encouraged by future prospects, particularly in the Life Sciences and Infrastructure segments [12][34] - INNOVATE is launching a fully backstop $35 million rights offering to shore up liquidity needs for 2024 [17] - The company is actively exploring opportunities in 5G broadcasting and has filed an application with the FCC for converting existing stations to 5G [38] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the overall M&A market and hopes to reach resolutions in 2024 regarding non-cash-flowing businesses [39] - The company expects 2024 results for DBM to be slightly lower than 2023 but remains optimistic about future opportunities [35] - Management highlighted the importance of addressing the capital structure as a key driver for stock price performance [39] Other Important Information - As of December 31, 2023, INNOVATE had total principal outstanding indebtedness of $722.8 million, a slight decrease from $725.3 million at the end of 2022 [48] - The company reported adjusted EBITDA losses for the non-operating corporate segment improved to $2.5 million in Q4 2023 from $1.2 million in the prior-year period [47] Q&A Session Summary Question: What are the expectations for DBM's performance in 2024? - Management expects DBM's results in 2024 to be slightly lower than in 2023 but is optimistic about strong opportunities exiting the year into 2025 and beyond [35] Question: How is the company addressing its capital structure? - The company is focused on utilizing non-cash-flowing assets to address its capital structure and is optimistic about the M&A market [39]

FOR IMMEDIATE RELEASE INNOVATE Corp. Announces Fourth Quarter and Full Year 2023 Results - Infrastructure: DBM Global achieved fourth quarter revenue of $353.8 million - - Life Sciences: R2 experienced strong North America unit sales in the fourth quarter - - Spectrum: Broadcasting entered into agreements with PBS stations for new commercial opportunities with ATSC 3.0 - NEW YORK, NY, March 4, 2024 - INNOVATE Corp. ("INNOVATE" or the "Company") (NYSE: VATE) announced today its consolidated results for the f ...