INNOVATE (VATE)2025-05-06 21:32Financial Data and Key Metrics Changes - Consolidated total revenue for Q1 2025 was 315.2 million in the prior year period [20] - Net loss attributable to common stockholders for Q1 2025 was 1.89 per fully diluted share, compared to a net loss of 2.21 per fully diluted share in the prior year [20] - Total adjusted EBITDA was 12.8 million in the prior year period [20] Business Line Data and Key Metrics Changes - Infrastructure segment revenue decreased 14% to 307.9 million in the prior year quarter, primarily due to project timing [21] - Life Sciences segment revenue increased 210% to 1 million in the prior year quarter, driven by increased unit sales [23] - Spectrum segment revenues were 100,000 compared to the first quarter of 2024, with adjusted EBITDA of 200,000 [23] Market Data and Key Metrics Changes - DBM Global achieved revenues of 16.7 million during the quarter, with a backlog now reaching 3.1 million in Q1 2025, with significant growth in North America [12] - The company is currently serving 28 countries and continues to expand its global footprint [13] Company Strategy and Development Direction - The company is focused on leveraging valuable assets to achieve a sustainable capital structure before debt maturities [6][7] - The strategic vision emphasizes maximizing the value of assets, with ongoing exploration of strategic alternatives [18] - The company is pursuing commercial opportunities in data casting and modernizing broadcasting capabilities [16][18] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to execute on strategic objectives and highlighted the strong backlog and robust pipeline for DBM [6][8] - The ongoing tariff situation is being monitored, with no material impact observed on DBM's business as of now [9] - Management remains optimistic about the market opportunity for R2 and the momentum experienced year over year [15] Other Important Information - The company had 48.8 million at the end of 2024 [25] - Total principal outstanding indebtedness was 668.3 million at the end of 2024 [26] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded with closing comments from management expressing satisfaction with the momentum to start the year [27][28]