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Innovate VATE Q1 2025 Annual earnings

Reported May 6, 2025 · After market close

Revenue$274.2M
EPS-$1.89

Next report

Nov 12, 2026 (in 2 months)
Revenue estimate$251.7M
EPS estimate-$2.18

Financials

Q1 2025

Income statement

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Revenue$274.2M-13.0%
Gross profit$45.5M-6.4%
Operating income$3.4M+21.4%
Net income-$24.5M-40.8%
EPS (diluted)-$1.89+14.5%

Balance sheet

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Cash & equivalents$33.9M-15.0%
Total debt$1.3B+60.0%
Total equity-$204.2M-10.7%
Total assets$868.0M-8.0%

Cash flow

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Operating cash flow-$14.1M+44.5%
CapEx$4.7M-16.1%
Free cash flow-$18.8M+39.4%

Valuation & ratios

Valuation

as of 03/31/25
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Market cap$103.84M+87.0%
Enterprise value$1.32B+65.6%
P/S0.1×+0.1×

Profitability

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Gross margin19.3%+3.7pp
Operating margin3.8%+1.5pp
Net margin-3.9%+1.5pp

Returns & leverage

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Current ratio0.4×-0.8×

Segments

By product

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Industrial$74.6M-11.3%
Commercial$53.8M-30.4%
Healthcare$52.0M+51.6%
Transportation$44.7M-55.5%
Government$24.8M+819%

By segment

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Infrastructure$264.9M—
Spectrum$6.2M—
Life Sciences$3.1M—

FAQ

When did Innovate report Q1 2025 earnings?
Innovate (VATE) reported Q1 2025 earnings on May 6, 2025 after market close.
What were Innovate's Q1 2025 revenue and EPS?
Innovate reported revenue of $274.2M and eps of $-1.89 for Q1 2025.
How did Innovate's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 13.0% from $315.2M a year earlier and eps grew 14.1% from $-2.20.
Where can I find Innovate's Q1 2025 SEC filings?
You can read the 8-K earnings release (0001006837-25-000044) and the 10-K periodic report (0001006837-25-000021) directly on SEC EDGAR. The filing index links above go to sec.gov.