v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 87.8 $ 108.2
Accounts receivable, net 284.4 239.4
Contract assets 52.6 64.1
Inventory 14.8 16.0
Current assets held for sale 5.5 6.8
Other current assets 34.2 16.9
Total current assets 479.3 451.4
Investments 2.2 1.8
Deferred tax asset 2.0 2.0
Property, plant and equipment, net 136.3 131.6
Goodwill 105.7 105.6
Intangibles, net 44.0 47.3
Assets held for sale 169.5 167.7
Other assets 67.7 42.7
Total assets 1,006.7 950.1
Current liabilities    
Accounts payable 137.2 140.5
Accrued liabilities 77.9 64.8
Current portion of debt obligations 553.9 518.6
Contract liabilities 182.7 171.9
Current liabilities held for sale 118.7 126.5
Other current liabilities 13.0 11.8
Total current liabilities 1,083.4 1,034.1
Deferred tax liability 1.9 2.1
Debt obligations 62.1 80.3
Liabilities held for sale 22.1 19.4
Other liabilities 57.2 29.5
Total liabilities 1,226.7 1,165.4
Commitments and contingencies (Note 14)
Temporary equity    
Redeemable non-controlling interests (1.1) 1.6
Total temporary equity 8.6 10.9
Stockholders’ deficit    
Common stock, $0.001 par value Shares authorized: 250,000,000; Shares issued: 13,818,904; Shares outstanding: 13,641,866 and 13,655,062, respectively 0.0 0.0
Additional paid-in capital 352.9 350.1
Treasury stock, at cost: 177,038 and 163,842 shares, respectively (5.6) (5.6)
Accumulated deficit (588.6) (582.5)
Accumulated other comprehensive loss (1.9) (2.1)
Total INNOVATE Corp. stockholders’ deficit (243.2) (240.1)
Non-controlling interests 14.6 13.9
Total stockholders’ deficit (228.6) (226.2)
Total liabilities, temporary equity and stockholders’ deficit 1,006.7 950.1
Series A-3 , A-4 Preferred Stock    
Temporary equity    
Preferred Stock Series A-3 and Preferred Stock Series A-4, $0.001 par value Shares authorized: 20,000,000; Shares issued and outstanding: 6,125 of Series A-3; 1,937 of Series A-4 $ 9.7 $ 9.3