v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Income Statement [Abstract]    
Revenue $ 1,246.0 $ 1,107.1
Cost of revenue 1,046.3 898.3
Gross profit 199.7 208.8
Operating expenses:    
Selling, general and administrative 153.1 160.2
Depreciation and amortization 17.5 17.6
Other operating loss (income) 0.4 (9.0)
Income (loss) from operations 28.7 40.0
Other (expense) income:    
Interest expense (89.0) (74.5)
Loss from equity investees (5.9) (2.3)
Other income, net 4.7 3.4
Loss from operations before income taxes (61.5) (33.4)
Income tax expense (2.5) (6.3)
Net loss (64.0) (39.7)
Net loss attributable to non-controlling interests and redeemable non-controlling interests 3.4 5.1
Net loss attributable to INNOVATE Corp. (60.6) (34.6)
Less: Preferred stock dividends 3.4 1.2
Net loss attributable to common stockholders and participating preferred stockholders, basic (64.0) (35.8)
Net loss attributable to common stockholders and participating preferred stockholders, diluted $ (64.0) $ (35.8)
Loss per common share - basic (in usd per share) $ (4.84) $ (3.08)
Loss per common share - diluted (in usd per share) $ (4.84) $ (3.08)
Weighted-average common shares outstanding - basic (in shares) 13,217,593 10,696,274
Weighted-average common shares outstanding - diluted (in shares) 13,217,593 10,696,274