INNOVATE Corp. (VATE)

INNOVATE Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	-75.9	-34.6	-35.2	-35.9	-227.5	-92
Depreciation & Amortization	31.5	32.9	36	42.2	37.6	26.8
Other Amortization	15.9	7.7	6.9	3.4	10.5	15.1
Asset Writedown & Restructuring Costs	0.1	0.1	1.8	2.1	2.8	13.7
Loss (Gain) From Sale of Investments	0.2	0.2	-15.8	-	-	-72.6
Loss (Gain) on Equity Investments	1	2.3	9.4	1.3	2.8	3.4
Stock-Based Compensation	4.1	3.4	2.2	2.4	2.4	2.9
Other Operating Activities	-5.9	-15	-6.9	-5	151.5	32.7
Change in Accounts Receivable	-42.2	104.1	20.8	-52	-57.4	56.8
Change in Inventory	0.5	1.9	-3.5	-1.9	-1.4	-
Change in Accounts Payable	-9.6	-57.2	-60.2	21.7	57.9	5.8
Change in Unearned Revenue	100	-44.4	54.9	19.5	7.2	-17.5
Change in Other Net Operating Assets	19.6	7.7	16.1	-7.3	7.1	-30.3
Operating Cash Flow	39.3	9.1	26.5	-9.5	27	41.1
Operating Cash Flow Growth	-52.88%	-65.66%	-	-	-34.31%	-62.87%
Capital Expenditures	-22.6	-20.2	-18.4	-20.7	-24.1	-17.8
Sale of Property, Plant & Equipment	1.5	10.1	1.6	2	13.2	41.2
Cash Acquisitions	-	-	-	-	-128.5	-
Divestitures	-	-	-	-	74	147.4
Investment in Securities	-2.3	-2	59.2	-	-	86.1
Other Investing Activities	-	-1.8	-3.3	-3.8	-157.8	-94.8
Investing Cash Flow	-23.4	-13.9	39.1	-22.5	-223.2	162.1
Long-Term Debt Issued	-	94.8	91.9	187.4	663.1	-
Long-Term Debt Repaid	-	-153	-131.8	-113.4	-633.6	-186
Net Debt Issued (Repaid)	-61.2	-58.2	-39.9	74	29.5	-186
Issuance of Common Stock	-	33.2	-	-	-	-
Preferred Dividends Paid	-1.2	-1.2	-	-1.2	-	-
Common Dividends Paid	-0.5	-	-	-2.7	-2.9	-
Dividends Paid	-1.7	-1.2	-2.2	-3.9	-2.9	-
Other Financing Activities	-0.4	-0.3	-16.2	-2	-11.9	-56.5
Financing Cash Flow	-63.3	-26.5	-65.3	68.1	4.3	-204.5
Foreign Exchange Rate Adjustments	-0.3	-1.7	-0.2	-1.4	-1.3	1.1
Miscellaneous Cash Flow Adjustments	-	-	-	-	195.4	20.8
Net Cash Flow	-47.7	-33	0.1	34.7	2.2	20.6
Free Cash Flow	16.7	-11.1	8.1	-30.2	2.9	23.3
Free Cash Flow Growth	-74.11%	-	-	-	-87.55%	-72.91%
Free Cash Flow Margin	1.68%	-1.00%	0.57%	-1.85%	0.24%	3.25%
Free Cash Flow Per Share	1.28	-1.04	1.04	-3.90	0.38	4.63
Cash Interest Paid	49.7	48.6	49	42.5	32.6	65.1
Cash Income Tax Paid	6.5	3.5	6.7	5.9	5.4	0.2
Levered Free Cash Flow	93.54	35.34	20.21	-36.23	638.34	548
Unlevered Free Cash Flow	129.14	74.2	55.94	-7.13	664.78	579.65
Change in Working Capital	68.3	12.1	28.1	-20	13.4	14.8

Updated Aug 5, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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