What is INNOVATE's gross profit margin?

Did INNOVATE beat or miss consensus estimates last quarter?

What is INNOVATE's latest dividend and current dividend yield?

What does INNOVATE do and what are its main business segments?

What guidance did INNOVATE's management provide for the next earnings period?

What were the key takeaways from INNOVATE’s earnings call?

What were the key takeaways from INNOVATE's earnings call?

What is the market's earnings forecast for INNOVATE next quarter?

- **Revenue Growth**: 43.3% YoY to $347.1 million, driven by Infrastructure segment.
- **Adjusted EBITDA Expansion**: +18% to $19.8 million, supported by DBM and Life Sciences.
- **DBM Momentum**: Backlog up 45% to $1.6 billion, despite margin compression.
- **Life Sciences Breakthrough**: R2 non-North America sales surge 206%, Glacial Skin patient growth 102%.
- **Spectrum Challenges**: Ad sales softness, FCC 5G broadcast delay.

**CEO Summary Section**
- **Overall Performance**: Q3 2025 revenue of $347.1 million, adjusted EBITDA of $19.8 million, with strategic progress in DBM and Spectrum segments.
- **DBM Global**: 
  - Revenue $338.4 million, EBITDA $23.5 million.
  - Gross margin compression of 510 bps to 13.6%, EBITDA margin down 200 bps to 6.9% YoY.
  - Adjusted backlog grows to $1.6 billion (from $1.1 billion in 2024), with $431 million added post-Q3.
  - Momentum in infrastructure, data centers, and advanced manufacturing; Northeast U.S. commercial market showing signs of recovery.
- **Life Sciences**: 
  - **MediBeacon**: China NMPA approval for Lumitrace, targeting 154 million chronic kidney disease patients.
  - **R2**: Q3 revenue $3.1 million (flat YoY), 9M25 up 65% to $9.4 million; non-North America sales surge 206%.
  - **Glacial Skin**: 102% patient growth, 24% utilization increase, 3,687% social media engagement growth.
- **Spectrum**: 
  - Q3 revenue $5.6 million, EBITDA $1 million.
  - New networks (MovieSphere Gold, Sports First, Black Vision) launched; ad sales challenges persist.
  - FCC petition for 5G broadcast conversion delayed due to government shutdown.

**CFO Financial Commentary**
- **Consolidated Results**: 
  - Revenue up 43.3% YoY to $347.1 million; net loss $9.4 million (-38% per share).
  - Adjusted EBITDA up 18% to $19.8 million.
- **Segment Breakdown**: 
  - **Infrastructure**: Revenue +45.4% to $338.4 million; EBITDA +12.5% to $23.5 million.
  - **Life Sciences**: Revenue +3.3% to $3.1 million; EBITDA loss narrowed.
  - **Spectrum**: Revenue -13%, EBITDA -41%.
- **Liquidity**: 
  - Cash $35.5 million (down from $48.8 million); total debt $700.4 million (+5%).
  - DBM debt down $40.6 million to $104.1 million.


VATE

VATE fundamentals

You can ask Aime