The earnings call presented a mixed performance for INNOVATE. While significant strides were made in increasing backlog and achieving growth in the Life Sciences segment and R2, the company faced notable challenges with a substantial decrease in consolidated revenue and a net loss for the quarter. The successful debt refinancing is a positive development, but the overall financial performance indicates ongoing challenges.

Company Guidance

During the second quarter of 2025, INNOVATE Corp. reported consolidated revenues of $242 million, a decrease of 22.7% from the previous year, and an adjusted EBITDA of $15.7 million, down from $26.7 million. The Infrastructure segment saw a revenue decline of 23.6% to $233.1 million, with adjusted EBITDA reducing to $19.3 million, influenced by project timings and reduced margins. Life Sciences, however, showed an 88.2% increase in revenue to $3.2 million, driven by R2's sales, while Spectrum's revenue decreased by $500,000 to $5.7 million. Despite a net loss of $22 million, INNOVATE showed strategic progress, including a refinancing initiative to extend debt maturities, a robust backlog increase to over $1.3 billion, and ongoing pipeline optimism across segments.

Increase in DBM Global Backlog

DBM Global's adjusted backlog increased year-over-year by approximately $300 million to just over $1.3 billion, with an additional $400 million project expected to be added in the third quarter.

R2 Growth and Expansion

R2 reported strong growth with revenues increasing to $3.2 million from $1.7 million year-over-year. Notable achievements include a 115.1% increase in patient treatments, a 28.5% increase in average monthly utilization per provider, and significant growth in social media engagements, mentions, and web users.

Life Sciences Revenue Increase

The Life Sciences segment saw an 88.2% increase in revenue to $3.2 million, primarily driven by R2's growth in Glacial Spa unit sales, consumable sales, and international expansion.

Successful Debt Refinancing

INNOVATE successfully announced the early settlement of refinancing transactions, allowing for the extension of debt maturities and continuing pursuit of strategic plans.

INNOVATE Corp (VATE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

VATE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	- / -	-1.18	―	―	―
Aug 05, 2025	2025 (Q2)	- / -1.67	0.977	-271.24% (-2.65)
May 06, 2025	2025 (Q1)	- / -1.89	-2.249	15.96% (+0.36)
Mar 31, 2025	2024 (Q4)	- / -1.89	-2.249	15.92% (+0.36)
Nov 06, 2024	2024 (Q3)	- / -1.18	-0.924	-27.71% (-0.26)
Aug 07, 2024	2024 (Q2)	- / 0.98	-1.338	173.02% (+2.31)
May 07, 2024	2024 (Q1)	- / -2.25	-1.303	-72.60% (-0.95)
Mar 04, 2024	2023 (Q4)	- / -1.21	-0.896	-35.49% (-0.32)
Nov 09, 2023	2023 (Q3)	- / -0.92	-0.844	-9.48% (-0.08)
Aug 09, 2023	2023 (Q2)	- / -1.34	-1.742	23.19% (+0.40)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

VATE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$5.76	$5.68	-1.39%
May 06, 2025	$6.24	$6.15	-1.44%
Mar 31, 2025	$7.83	$7.31	-6.64%
Nov 06, 2024	$5.14	$5.16	+0.39%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does INNOVATE Corp (VATE) report earnings?

INNOVATE Corp (VATE) is schdueled to report earning on Oct 30, 2025, After Close (Confirmed).

What is INNOVATE Corp (VATE) earnings time?

INNOVATE Corp (VATE) earnings time is at Oct 30, 2025, After Close (Confirmed).

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What is VATE EPS forecast?

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