INNOVATE financials
$7.55+2.03%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 |
|---|---|---|---|---|---|
| Revenue | $1.25B | $1.11B | $1.42B | $1.64B | $1.21B |
| Gross profit | $199.7M | $208.8M | $216.0M | $221.4M | $183.7M |
| Gross margin | 16.0% | 18.9% | 15.2% | 13.5% | 15.2% |
| Operating income | $28.7M | $40.0M | $26.5M | $13.4M | -$10.6M |
| Net income | -$64.0M | -$35.8M | -$37.6M | -$40.8M | -$229.7M |
| Net margin | −5.1% | −3.2% | −2.6% | −2.5% | −19.1% |
| Diluted EPS | $-4.84 | $-3.08 | $-4.81 | $-5.30 | $-29.80 |
| EBITDA | $59.1M | $72.9M | $62.5M | $55.6M | $27.0M |
| Operating cash flow | $146.6M | $9.1M | $26.5M | -$9.5M | $27.0M |
| Free cash flow | $120.0M | -$11.1M | $8.1M | -$30.2M | $2.9M |
| Diluted shares | 13.2M | 11.6M | 7.8M | 7.8M | 7.7M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|
| Cash & equivalents | $108.2M | $48.8M | $80.8M | $80.4M | $45.5M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — |
| Total debt | $598.9M | $662.8M | $709.8M | $714.4M | $626.3M |
| Total assets | $950.1M | $891.1M | $1.04B | $1.15B | $1.08B |
| Total liabilities | $1.17B | $1.03B | $1.18B | $1.18B | $1.07B |
| Shareholders' equity | -$216.9M | -$159.3M | -$151.7M | -$73.0M | -$56.2M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology