INNOVATE Corp.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.25B | $1.11B | $1.42B | $1.64B | $1.21B | $716.9M | $1.08B | $1.98B |
| Cost of Revenue | $1.05B | $898.3M | $1.21B | $1.42B | $1.02B | $588.5M | $596.0M | $1.59B |
| Gross Profit | $199.7M | $208.8M | $216.0M | $221.4M | $183.7M | $128.4M | $481.0M | $391.5M |
| Gross Margin | 16.0% | 18.9% | 15.2% | 13.5% | 15.2% | 17.9% | 44.7% | 19.8% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $153.1M | $160.2M | $168.0M | $180.1M | $168.3M | $145.5M | $177.3M | $218.4M |
| Operating Income | $28.7M | $40.0M | $26.5M | $13.4M | $-10.6M | $-28.3M | $25.3M | $-55.8M |
| Operating Margin | 2.3% | 3.6% | 1.9% | 0.8% | -0.9% | -3.9% | 2.3% | -2.8% |
| Interest Expense | — | — | $68.2M | $52.0M | $59.1M | $74.8M | $76.1M | $75.7M |
| Pretax Income | $-61.5M | $-33.4M | $-34.4M | $-41.1M | $-80.7M | $-46.7M | $-41.8M | $182.3M |
| Income Tax Expense | $2.5M | $6.3M | $4.5M | $900.0K | $5.6M | $7.0M | $-19.6M | $2.4M |
| Net Income | $-60.6M | $-34.6M | $-35.2M | $-35.9M | $-227.5M | $-92.0M | $-31.5M | $162.0M |
| Net Margin | -4.9% | -3.1% | -2.5% | -2.2% | -18.9% | -12.8% | -2.9% | 8.2% |
| EPS (Basic) | $-4.84 | $-3.08 | $-4.81 | $-0.53 | $-2.98 | $-1.88 | $-0.70 | $3.14 |
| EPS (Diluted) | $-4.84 | $-3.08 | $-4.81 | $-0.53 | $-2.98 | $-1.88 | $-0.70 | $2.90 |
| Shares Outstanding (Basic) | 13.2M | 10.7M | 7.8M | 77.5M | 77.1M | 50.3M | 44.8M | 44.3M |
| Shares Outstanding (Diluted) | 13.2M | 10.7M | 7.8M | 77.5M | 77.1M | 50.3M | 44.8M | 46.8M |
| Dividends Per Share | — | — | — | — | — | — | — | — |