Innovate Corp Stock Price, News & Analysis

R2 Technologies, a subsidiary of INNOVATE Corp (NYSE: VATE), announced significant milestones in the development of its CryoAesthetic™ devices. The company shipped 100 GLACIAL® devices globally and performed over 15,000 treatment cycles in the first year of commercial sales. Recent presentations at the ASLMS annual meeting highlighted the clinical benefits of the GLACIAL® Rx platform, designed to reduce inflammation and enhance skin appearance. Customer feedback has been overwhelmingly positive, with 100% of surveyed patients expressing satisfaction.

INNOVATE Corp. (NYSE: VATE) plans to release its Q1 2022 financial results on May 4, 2022, after market close. A live earnings conference call will take place at 4:30 p.m. ET on the same day, discussing these results, operations, and strategies. Participants can join via domestic dial-in at 1-844-826-3033 or toll/international at 1-412-317-5185. A replay will be available after the call until May 18, 2022. INNOVATE operates across infrastructure, life sciences, and spectrum sectors with approximately 3,902 employees.

INNOVATE Corp. (NYSE: VATE) reported a remarkable fourth quarter in 2021 with revenue soaring to $394.8 million, a 121.8% increase from the previous year. The Infrastructure segment, particularly DBM Global, led this growth with record revenues of $383.4 million. Despite a net loss of $5.2 million, down from $7.1 million in Q4 2020, Adjusted EBITDA also rose significantly to $22.1 million. The company maintains a strong backlog of $1,580.9 million, indicating robust future potential.

INNOVATE Corp. (NYSE: VATE) will announce its fourth quarter and full year 2021 financial results on March 9, 2022, after market close. An earnings conference call will follow at 4:30 p.m. ET, discussing the results, operations, and strategic direction. Interested parties can access the live call via INNOVATE’s Investor Relations website. For those unable to attend, a replay will be available post-call until March 23, 2022. INNOVATE operates in key sectors including Infrastructure, Life Sciences, and Spectrum.

INNOVATE Corp. (NYSE: VATE) has announced the successful completion of 21 new broadcast stations by its Spectrum segment, HC2 Broadcasting Holdings. This expansion adds 12 new designated market areas (DMAs) to their coverage, bringing the total to nearly 250 stations across the U.S. Broadcasting now operates in over 106 TV markets, including 34 of the top 35. This strategic growth is positioned to enhance service to over-the-air customers and provide robust distribution platforms for content providers, ultimately driving value for stakeholders.

INNOVATE Corp. (NYSE: VATE) reported Q3 2021 results with consolidated revenue of $394.8 million, a 131.6% increase from $170.5 million in Q3 2020. However, the company faced a net loss of $213.0 million, drastically up from $17.7 million the previous year. Key segments showed notable performance: Infrastructure secured $383.0 million in revenue, maintaining a $1.6 billion backlog, while Life Sciences achieved a crucial FDA approval for Glacial Rx®, and Spectrum reported its fourth positive EBITDA quarter.

INNOVATE Corp. (NYSE: VATE) announced its third quarter 2021 financial results release scheduled for November 4, 2021, after market close. The company will host a conference call at 4:30 p.m. ET the same day to discuss the results, operations, and strategy. Interested parties can access the live call via INNOVATE’s Investor Relations website. Dial-in details include a domestic number at 1-800-763-5545 and an international number at 1-212-231-2901. Replay instructions will be available post-call.

INNOVATE Corp. (NYSE: VATE) announced that its subsidiary R2 Technologies’ Glacial Rx is the first and only Class II dermal cooling system FDA-cleared for dermabrasion, scar revision, and tattoo removal. The clearance marks a significant milestone following Glacial Rx's commercial launch in March 2021, indicating its unique position in the aesthetics industry. R2's CEO highlighted the innovative effort behind this achievement, noting that it led to a new FDA product code. The company continues to receive orders from aesthetic providers, further enhancing its market presence.

INNOVATE Corp. (NYSE: VATE) has successfully completed its name change from HC2 Holdings, effective September 20, 2021. The new name reflects the Company's commitment to growth in key sectors such as Infrastructure, Life Sciences, and Spectrum. With the transition, trading under the new ticker symbol 'VATE' has commenced on the New York Stock Exchange.

The rebranding aims to position INNOVATE as a leader in the new economy, focusing on innovative growth strategies. Shareholders do not need to take any action regarding the name change.