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Innovate VATE Infrastructure — Contract liabilities, revenue recognized

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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:ContractWithCustomerLiabilityRevenueRecognizedIncludingNewContracts.

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 liabilities, revenue recognized?
Innovate (VATE) reported infrastructure — contract liabilities, revenue recognized of $151.9M in Q1 2026.
How has Innovate's infrastructure — contract liabilities, revenue recognized changed year-over-year?
Innovate's infrastructure — contract liabilities, revenue recognized increased by 124.0% year-over-year, from $67.8M to $151.9M.
What is the long-term trend for Innovate's infrastructure — contract liabilities, revenue recognized?
Over 4 years (2021 to 2025), Innovate's infrastructure — contract liabilities, revenue recognized has grown at a 12.2% compound annual growth rate (CAGR), from $65.4M to $103.7M.
What does infrastructure — contract liabilities, revenue recognized mean?
Tracks the amount of previously deferred revenue that has been recognized in the income statement as performance obligations are fulfilled within the infrastructure segment. This metric bridges the gap between customer prepayments and actual revenue realization. It provides insight into the pace at which the segment is delivering on its contractual commitments.