INNOVATE Corp., formerly HC2 Holdings, Inc., is a portfolio of best-in-class assets in three key areas of the new economy – Infrastructure, Life Sciences and Spectrum. Dedicated to stakeholder capitalism, INNOVATE employs over 4,300 people across its subsidiaries.
Company profile
Ticker
VATE
Exchange
Website
CEO
Philip Falcone
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
HC2 Holdings, Inc., HC2 HOLDINGS, INC., PRIMUS TELECOMMUNICATIONS GROUP INC, PTGi HOLDING, INC.
SEC CIK
Corporate docs
Subsidiaries
DBM Global Intermediate Holdco Inc. • INNOVATE 2 Corp • INNOVATE International Holding Corp. • TIC Holdco Inc. • DBM Global Inc. • Banker Steel Holdco LLC • Banker Steel Co., L.L.C. • Lynchburg Freight & Specialty LLC • US Erectors LLC • Innovative Engineering Solutions LLC ...
VATE stock data
Latest filings (excl ownership)
10-K
2022 FY
Annual report
14 Mar 23
8-K
INNOVATE Corp. Announces Fourth Quarter and Full Year 2022 Results
14 Mar 23
8-K
INNOVATE Corp. Completes Sale of Remaining Equity Stake in HMN International
7 Mar 23
8-K
Entry into a Material Definitive Agreement
5 Jan 23
8-K
Other Events
29 Nov 22
8-K
MediBeacon Receives $10 Million in Amended Agreements with Huadong Medicine to Accelerate Development of Transdermal GFR Measurement System
16 Nov 22
10-Q
2022 Q3
Quarterly report
2 Nov 22
8-K
INNOVATE Corp. Announces Third Quarter 2022 Results
2 Nov 22
8-K
Regulation FD Disclosure
22 Sep 22
8-K
Departure of Directors or Certain Officers
16 Sep 22
Transcripts
VATE
Earnings call transcript
2022 Q4
14 Mar 23
VATE
Earnings call transcript
2022 Q3
2 Nov 22
VATE
Earnings call transcript
2022 Q2
6 Aug 22
VATE
Earnings call transcript
2022 Q1
6 May 22
VATE
Earnings call transcript
2021 Q4
10 Mar 22
VATE
Earnings call transcript
2021 Q3
7 Nov 21
VATE
Earnings call transcript
2021 Q2
6 Aug 21
VATE
Earnings call transcript
2021 Q1
7 May 21
VATE
Earnings call transcript
2020 Q4
11 Mar 21
VATE
Earnings call transcript
2020 Q3
11 Nov 20
Latest ownership filings
Financial summary
| Quarter (USD) | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
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| Operating income | |||||
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| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 82.20 mm | 82.20 mm | 82.20 mm | 82.20 mm | 82.20 mm | 82.20 mm |
| Cash burn (monthly) | (no burn) | (no burn) | 2.67 mm | 3.42 mm | (no burn) | 791.67 k |
| Cash used (since last report) | n/a | n/a | 7.12 mm | 9.15 mm | n/a | 2.11 mm |
| Cash remaining | n/a | n/a | 75.08 mm | 73.05 mm | n/a | 80.09 mm |
| Runway (months of cash) | n/a | n/a | 28.2 | 21.3 | n/a | 101.2 |
Institutional ownership, Q3 2022
64.6% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 3 |
| Opened positions | 0 |
| Closed positions | 0 |
| Increased positions | 0 |
| Reduced positions | 0 |
| 13F shares | Current |
|---|---|
| Total value | 148.07 mm |
| Total shares | 50.63 mm |
| Total puts | 0.00 |
| Total calls | 0.00 |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| Avram Glazer Irrevocable Exempt Trust | 22.99 mm | $57.25 mm |
| Glazer Avram A | 22.59 mm | $90.82 mm |
| Percy Rockdale | 5.05 mm | $0.00 |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 15 Mar 23 | Sena Michael J. | Common Stock | Payment of exercise | Dispose F | No | No | 2.93 | 8,412 | 24.65 k | 644,878 |
| 15 Mar 23 | Barr Wayne JR | Common Stock | Payment of exercise | Dispose F | No | No | 2.93 | 8,117 | 23.78 k | 338,173 |
| 15 Mar 23 | Herbst Suzi R | Common Stock | Payment of exercise | Dispose F | No | No | 2.93 | 8,060 | 23.62 k | 190,934 |
| 13 Mar 23 | Sena Michael J. | Common Stock | Payment of exercise | Dispose F | No | No | 2.96 | 8,615 | 25.50 k | 653,290 |
| 13 Mar 23 | Barr Wayne JR | Common Stock | Payment of exercise | Dispose F | No | No | 2.96 | 5,895 | 17.45 k | 346,290 |
| 13 Mar 23 | Herbst Suzi R | Common Stock | Payment of exercise | Dispose F | No | No | 2.96 | 9,381 | 27.77 k | 198,994 |
| 15 Nov 22 | Sena Michael J. | Common Stock | Buy | Acquire P | No | No | 0.969 | 5,000 | 4.85 k | 661,905 |
| 14 Nov 22 | Barr Wayne JR | Common Stock | Buy | Acquire P | No | No | 0.9299 | 10,000 | 9.30 k | 352,185 |
| 14 Nov 22 | Sena Michael J. | Common Stock | Buy | Acquire P | No | No | 0.968 | 5,000 | 4.84 k | 656,905 |
| 14 Nov 22 | Sena Michael J. | Common Stock | Buy | Acquire P | No | No | 0.967 | 5,000 | 4.84 k | 651,905 |
News
Innovate Q4 EPS $(0.09) Down From $(0.07) YoY, Sales $409.30M Up From $394.80M YoY
14 Mar 23
Earnings Scheduled For March 14, 2023
14 Mar 23
INNOVATE Corp. Completes Sale Of Remaining 19% Equity Stake In HMN International
7 Mar 23
12 Industrials Stocks Moving In Thursday's Intraday Session
16 Feb 23
12 Industrials Stocks Moving In Monday's After-Market Session
6 Feb 23