innovate corp. 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. nyse: vate
Company profile
Ticker
VATE
Exchange
Website
CEO
Philip Falcone
Employees
Incorporated
Location
Fiscal year end
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. • DBM Global Inc. • Banker Steel Holdco LLC • Banker Steel Co., L.L.C. • Lynchburg Freight & Specialty LLC • US Erectors LLC • NYC Constructors, LLC • NYCC Construction Services, LLC ...
VATE stock data
Latest filings (excl ownership)
PRE 14A
Preliminary proxy
19 Apr 24
424B5
Prospectus supplement for primary offering
9 Apr 24
8-K
INNOVATE Corp. Announces Further Extension of Rights Offering Subscription Period
9 Apr 24
8-K
Unregistered Sales of Equity Securities
28 Mar 24
424B5
Prospectus supplement for primary offering
25 Mar 24
8-K
INNOVATE Corp. Announces Extension of Rights Offering Subscription Period
25 Mar 24
8-K
Other Events
20 Mar 24
8-K
Form of Instructions As to Use of Innovate Corp. Rights Certificate
8 Mar 24
424B5
Prospectus supplement for primary offering
8 Mar 24
8-K
INNOVATE Corp. Announces Rights Offering Pricing
6 Mar 24
Transcripts
VATE
Earnings call transcript
2023 Q4
4 Mar 24
VATE
Earnings call transcript
2023 Q3
9 Nov 23
VATE
Earnings call transcript
2023 Q2
9 Aug 23
VATE
Earnings call transcript
2023 Q1
10 May 23
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
Latest ownership filings
SC 13D/A
Avram Glazer Irrevocable Exempt Trust
1 Apr 24
4
AVRAM A GLAZER
1 Apr 24
4
Change in insider ownership
21 Mar 24
4
Michael Gorzynski
21 Mar 24
4
Michael J. Sena
18 Mar 24
3
Paul Voigt
27 Jul 23
4
WARREN H GFELLER
20 Jun 23
4
Brian Steven Goldstein
20 Jun 23
4
Amy Marie Wilkinson
20 Jun 23
4
AVRAM A GLAZER
20 Jun 23
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
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) | 57.10 mm | 57.10 mm | 57.10 mm | 57.10 mm | 57.10 mm | 57.10 mm |
Cash burn (monthly) | (no burn) | (no burn) | (no burn) | 1.24 mm | (no burn) | (no burn) |
Cash used (since last report) | n/a | n/a | n/a | 8.30 mm | n/a | n/a |
Cash remaining | n/a | n/a | n/a | 48.80 mm | n/a | n/a |
Runway (months of cash) | n/a | n/a | n/a | 39.3 | n/a | n/a |
Institutional ownership, Q2 2023
63.9% 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 | 157.51 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 | $9.44 mm |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
28 Mar 24 | Glazer Avram A | Series C Non-Voting Participating Convertible Pref Stock Common Stock | Grant | Acquire A | Yes | No | 1000 | 25,000 | 25.00 mm | 25,000 |
19 Mar 24 | Michael Gorzynski | Subscription Rights Common Stock, par value $0.001 per share | Sell | Dispose S | Yes | No | 0.0049 | 100,000 | 490.00 | 4,948,755 |
19 Mar 24 | Percy Rockdale | Subscription Rights Common Stock, par value $0.001 per share | Sell | Dispose S | No | No | 0.0049 | 100,000 | 490.00 | 4,948,755 |
15 Mar 24 | Sena Michael J. | Common Stock | Sell | Dispose S | No | No | 0.6217 | 21,471 | 13.35 k | 1,057,347 |
14 Mar 24 | Sena Michael J. | Common Stock | Sell | Dispose S | No | No | 0.6856 | 11,675 | 8.00 k | 1,078,818 |
14 Mar 24 | Sena Michael J. | Common Stock | Grant | Acquire A | No | No | 0 | 358,015 | 0.00 | 1,090,493 |
News
12 Industrials Stocks Moving In Monday's Intraday Session
11 Mar 24
12 Industrials Stocks Moving In Wednesday's After-Market Session
6 Mar 24
Why SOPHiA GENETICS Shares Are Trading Lower By 19%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session
5 Mar 24
12 Industrials Stocks Moving In Tuesday's Intraday Session
5 Mar 24
Innovate Q4 EPS $(0.12) Down From $(0.09) YoY, Sales $361.00M Down From $409.30M YoY
4 Mar 24
Press releases
INNOVATE Corp. Announces Further Extension of Rights Offering Subscription Period
9 Apr 24
INNOVATE Corp. Announces Extension of Rights Offering Subscription Period
25 Mar 24
DBM Global's Banker Steel Tops Out JFK's New Terminal One Headhouse
21 Mar 24
INNOVATE Corp. Announces Commencement of Rights Offering
8 Mar 24
INNOVATE Corp. Announces Rights Offering Pricing
6 Mar 24