INNOVATE Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,246	1,107	1,423	1,637	1,205
Revenue Growth (YoY)	12.55%	-22.20%	-13.09%	35.85%	68.11%
Cost of Revenue	1,046	898.3	1,207	1,416	1,022
Gross Profit	199.7	208.8	216	221.4	183.7
Selling, General & Admin	153.1	160.2	168	180.1	168.3
Depreciation & Amortization Expenses	17.5	17.6	20.2	27.2	25.4
Other Operating Expenses	0.4	-9	1.3	0.7	0.6
Total Operating Expenses	171	168.8	189.5	208	194.3
Operating Income	28.7	40	26.5	13.4	-10.6
Interest Expense	-89	-74.5	-68.2	-52	-59.1
Other Non-Operating Income (Expense)	-1.2	1.1	7.3	-2.5	-11
Total Non-Operating Income (Expense)	-90.2	-73.4	-60.9	-54.5	-70.1
Pretax Income	-61.5	-33.4	-34.4	-41.1	-80.7
Provision for Income Taxes	2.5	6.3	4.5	0.9	5.6
Net Income	-64	-35.8	-37.6	-40.8	-229.7
Minority Interest in Earnings	-3.4	-5.1	-3.7	-6.1	-8.7
Net Income Attributable to Preferred Dividends	3.4	1.2	2.4	4.9	2.2
Earnings From Discontinued Operations	-	-	-	-	-149.9
Net Income to Common	-64	-35.8	-37.6	-40.8	-229.7
Shares Outstanding (Basic)	13	11	8	8	8
Shares Outstanding (Diluted)	13	11	8	8	8
Shares Change (YoY)	23.57%	36.83%	0.86%	0.52%	53.28%
EPS (Basic)	-4.84	-3.08	-4.81	-5.30	-10.50
EPS (Diluted)	-4.84	-3.08	-4.81	-5.30	-10.50
Shares Outstanding	13.66	13.26	7.92	7.88	7.78
Free Cash Flow	120.5	-9.9	8.1	-30.2	29.9
Free Cash Flow Growth	-	-	-	-	-53.57%
Free Cash Flow Per Share	9.12	-0.93	-	-3.90	3.88
Gross Margin	16.03%	18.86%	15.18%	13.52%	15.24%
Operating Margin	2.30%	3.61%	1.86%	0.82%	-0.88%
Profit Margin	-5.14%	-3.59%	-2.73%	-2.57%	-7.16%
FCF Margin	9.67%	-0.89%	0.57%	-1.84%	2.48%
EBITDA	59.1	72.9	62.5	55.6	27
EBITDA Margin	4.74%	6.58%	4.39%	3.40%	2.24%
EBIT	28.7	40	26.5	13.4	-10.6
EBIT Margin	2.30%	3.61%	1.86%	0.82%	-0.88%
Effective Tax Rate	-4.07%	-18.86%	-13.08%	-2.19%	-6.94%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q