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Innovate VATE Infrastructure — Contract with Customer, Liability, Conditional Retainage, Liability

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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:ContractWithCustomerLiabilityConditionalRetainageLiability.

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 with customer, liability, conditional retainage, liability?
Innovate (VATE) reported infrastructure — contract with customer, liability, conditional retainage, liability of -$59.3M in Q1 2026.
How has Innovate's infrastructure — contract with customer, liability, conditional retainage, liability changed year-over-year?
Innovate's infrastructure — contract with customer, liability, conditional retainage, liability decreased by 84.7% year-over-year, from -$32.1M to -$59.3M.
What is the long-term trend for Innovate's infrastructure — contract with customer, liability, conditional retainage, liability?
Over 3 years (2022 to 2025), Innovate's infrastructure — contract with customer, liability, conditional retainage, liability has grown at a -10.4% compound annual growth rate (CAGR), from -$211.3M to -$152.1M.
What does infrastructure — contract with customer, liability, conditional retainage, liability mean?
The obligation to pay subcontractors or vendors for work performed where payment is contingent upon the segment receiving payment from the primary project owner. This metric helps manage cash flow alignment between project inflows and outflows.