FY2025 · ended Dec 31, 2025 · Revenue $1.25B, +12.5% YoY · Filed Mar 26, 2026
Innovate Corp. (VATE) files with the SEC under industry code 3440, Fabricated Structural Metal Products. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $1.2 billion and a net loss of $60.6 million. Free cash flow was $146.1 million. As of Jun 30, 2026 it held $87.8 million in cash and investments and $692.7 million in total debt.
Revenue (TTM)
$1.52B
+52.4% vs year-ago TTM
Net income (TTM)
$-22.40M
+70.5% vs year-ago TTM
Operating cash flow (TTM)
$141.20M
+259.3% vs year-ago TTM
Free cash flow (TTM)
$140.70M
+272.2% vs year-ago TTM
EPS (TTM)
$-1.80
+70.3% vs year-ago TTM
Dividend per share
None
Shares outstanding
13.65M
+2.7% vs prior year
Net cash
$-604.90M
as of Jun 30, 2026
Operating margin
4.3%
FY 2026
Company profile
- Industry
- Fabricated Structural Metal Products (SIC 3440)
- Listed as
- VATE (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- New York, NY
- SEC filer status
- Non-accelerated filer, Smaller reporting company
- SEC CIK
- 1006837
- Former names
- HC2 Holdings, Inc. (until Sep 10, 2021); HC2 HOLDINGS, INC. (until Sep 10, 2021); PTGi HOLDING, INC. (until Apr 11, 2014); PRIMUS TELECOMMUNICATIONS GROUP INC (until Oct 18, 2013)
Other Fabricated Structural Metal Products companies
- Valmont Industries Inc VMI
- Proto Labs Inc PRLB
- Techprecision Corp TPCS
- Arcosa, Inc. ACA
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $1.2B | $1.1B | $1.4B | $1.6B | $1.2B |
| Operating income | $28.7M | $40.0M | $26.5M | $13.4M | -$10.6M |
| Net income | -$60.6M | -$34.6M | -$35.2M | -$35.9M | -$227.5M |
| Diluted EPS | -$4.84 | -$3.08 | -$4.81 | -$0.53 | -$2.98 |
| Operating cash flow | $146.6M | $9.1M | $26.5M | -$9.5M | $27.0M |
| Free cash flow | $146.1M | -$9.9M | $8.1M | -$30.2M | $2.9M |
| Total assets | $950.1M | $891.1M | $1.0B | $1.2B | $1.1B |
| Total liabilities | $1.2B | $1.0B | $1.2B | $1.2B | $1.1B |
| Stockholders' equity | -$240.1M | -$180.4M | -$165.5M | -$121.3M | -$84.3M |
| Cash and investments | $112.1M | $48.8M | $80.8M | $80.4M | $45.5M |
| Total debt | $743.0M | $724.7M | $784.9M | $796.2M | $704.8M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Material agreement
|
Oct 9, 2026 | Oct 9, 2026 |
| 8-K |
Current report
Material agreement, Agreement ended, Acquisition or sale of assets, Officer or director change, Regulation FD disclosure
|
Oct 5, 2026 | Oct 2, 2026 |
| 8-K |
Current report
Material agreement, Agreement ended, Acquisition or sale of assets, Regulation FD disclosure
|
Sep 2, 2026 | Aug 28, 2026 |
| 8-K |
Current report
Other events
|
Aug 18, 2026 | Aug 18, 2026 |
| 8-K |
Current report
Material agreement, Regulation FD disclosure
|
Aug 10, 2026 | Aug 7, 2026 |
| 10-Q | Quarterly report | Aug 6, 2026 | Jun 30, 2026 |
All 1000 Innovate Corp. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.