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Innovate VATE Infrastructure — Contract assets, increase due to new projects

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Other financials

Income statement

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Revenue$364.8M+33.0%
Gross profit$53.5M+17.6%
Operating income$10.0M+194%
Net income-$16.8M+31.4%
EPS (diluted)-$1.29+31.7%

Balance sheet

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Cash & equivalents$134.6M+297%
Total debt$1.4B+11.6%
Total equity-$256.3M-25.5%
Total assets$936.8M+7.9%

Cash flow

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Operating cash flow$45.5M+423%
CapEx$200.0K-95.7%
Free cash flow$45.3M+341%

Valuation

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Market cap$254.69M+196%
Enterprise value$1.52B+21.4%
P/S0.2×+0.1×

Profitability

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Gross margin15.5%-3.8pp
Operating margin2.6%-1.2pp
Net margin-4%0.0pp
FCF margin15.7%—

Returns & leverage

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Return on equity-8.1%—
Debt / equity1.7×—
Current ratio0.4×0.0×

Where this comes from

Reported directly by Innovate in its filing.

Tagged under the XBRL concept vate:ContractWithCustomerAssetIncreaseDueToNewProjects.

The official record: Innovate’s 10-Q, filed May 14, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Innovate's infrastructure — contract assets, increase due to new projects?
Innovate (VATE) reported infrastructure — contract assets, increase due to new projects of $19M in Q1 2026.
How has Innovate's infrastructure — contract assets, increase due to new projects changed year-over-year?
Innovate's infrastructure — contract assets, increase due to new projects decreased by 74.5% year-over-year, from $74.6M to $19M.
What does infrastructure — contract assets, increase due to new projects mean?
Represents the value of unbilled consideration for performance obligations satisfied in the infrastructure segment where the right to payment is conditional on future performance. This metric tracks the growth of assets created by new project activity before they are formally invoiced to the customer. It serves as an indicator of the segment's ongoing project pipeline and revenue recognition timing.