INNOVATE

Holding Companies & Conglomerates · New York, United States · 1K - 5K Employees

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Overview

Headquarters

295 Madison Ave Fl 12, New York, New Yor...

Phone Number

(212) 235-2691

Revenue

$1.5 Billion

Stock Symbol

VATE

Industry

Holding Companies & Conglomerates
ZI Rank: 9
Signal Type
Mar
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ZI Rank
8
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9

About INNOVATE

Founded in 1994 and headquartered in New York City, Innovate Corp, formerly known as HC2 Holdings, Inc, is a portfolio of best-in-class assets in three key areas of the new economy Infrastructure, Life Sciences and Spectrum.Explore more
INNOVATE's Social MediaPopular SearchesInnovate Corp0014 Pty LtdANIP IncAddison Structural Services IncGlobal Marine Cable Systems Pte LtdSIC Code 67,671NAICS Code 55,551Ticker NYSE: VATEShow more

INNOVATE Org Chart

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Company Profile Activity

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Among all Holding Companies & Conglomerates companies

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Activity Insights

INNOVATE is experiencing very low activity levels compared to other companies in the Holding Companies & Conglomerates sector.

What does this means?

INNOVATE is drawing exceptional interest within the Holding Companies & Conglomerates industry, suggesting notable developments or strong market momentum, learn more about INNOVATE.

INNOVATE financials insights

Gather financial insights about INNOVATE, including details on funding rounds, investors, total funding, and acquisitions, to gain a comprehensive understanding of their financial strategy.

2019

Other Financing Round

$78.7M

2025

Stock/Share Issuance

$51.1M

Debt

$360.4M

See All INNOVATE's Financials Insights

INNOVATE Tech Stack

A closer look at the technologies used by INNOVATE

Most Recent Scoops

Divestiture
INNOVATE has entered into a definitive agreement to sell a controlling interest in its Broadcasting segment to CONX Corp., under which CONX is expected to own approximately 75% of the business upon closing, while INNOVATE will retain a 25% ownership stake with an option to increase its ownership to 40% in the future. CONX has committed up to $75 million of post-closing equity capital to support the business, with the transaction subject to customary closing conditions including regulatory and FCC-related approvals.
Divestitures, Stake & Stock Ownership, Finance
Project
INNOVATE has announced that its subsidiary MediBeacon has received CE mark approval in Europe for its TGFR monitors, sensors, and rings, with the Lumitrace marketing authorization application targeted to be filed in 2027.
Product Launch, Medical Research
Earnings
INNOVATE has reported Spectrum segment revenue of $5.4 million for Q2 2026, a decrease of $300,000 year-over-year, while Adjusted EBITDA decreased $600,000 to $400,000, primarily driven by the termination of several networks in individual markets, partially offset by the launch of new networks.
Earnings, Finance
Earnings
INNOVATE has reported cash and cash equivalents of $87.8 million as of June 30, 2026, excluding held-for-sale assets and restricted cash, compared to $108.2 million as of December 31, 2025, with the non-operating corporate segment holding $1.5 million in cash compared to $4.2 million at the end of 2025.
Accounting, Financial Reporting, Finance
Project
Medical Research, Healthcare Operations
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INNOVATE News & Media

  • INNOVATE Announces Closing of the Sale of a Controlling Interest in its Broadcasting Segment to CONX

    NEW YORK, Sept. 02, 2026 (GLOBE NEWSWIRE) -- INNOVATE CORP.® (NYSE: VATE) (“INNOVATE” or the “Company”) announced today the successful closing of the previously announced transaction between INNOVATE and CONX Corp. (“CONX”), pursuant to which CONX acquired a controlling interest in HC2 Broadcasting Holdings Inc. (“HC2”), a holding company for INNOVATE’s Broadcasting segment. The transaction follows the completion of the Broadcasting segment’s refinancing announced on June 1, 2026.
  • MediBeacon® Transdermal GFR System Nominated for 2026 Prix Galien USA Best Medical Technology

    NEW YORK, Aug. 18, 2026 (GLOBE NEWSWIRE) -- INNOVATE CORP.® (NYSE: VATE) (“INNOVATE”) announced today that MediBeacon Inc. (“MediBeacon”), a medical technology company specializing in the advancement of fluorescent tracer agents and their transdermal detection, and an equity method investment of INNOVATE, announced that The Galien Foundation, the premier global institution dedicated to honoring innovators in life sciences, has nominated the MediBeacon® TGFR™ System for the 2026 Prix Galien USA B
  • INNOVATE Agrees to $650 Million Sale of DBM Global to IES Holdings

    NEW YORK, Aug. 10, 2026 (GLOBE NEWSWIRE) -- INNOVATE CORP.® (NYSE: VATE) (“INNOVATE”) announced today that it has entered into a Transaction Agreement (the “Agreement”) pursuant to which IES Holdings, Inc. (Nasdaq: IESC) (“IES”) will acquire DBM Global, Inc. (“DBMG”) for cash and stock consideration valued at $650 million (the “Transaction”). INNOVATE, through DBM Global Intermediate Holdco Inc., currently owns approximately 91.21% of the outstanding common stock of DBMG.
  • INNOVATE Q2 Earnings Call Highlights

    INNOVATE (NYSE:VATE) reported second-quarter 2026 revenue of $421.6 million, up 74.2% from $242 million a year earlier, as its Infrastructure segment delivered record revenue, wider margins and backlog growth. The company posted net income attributable to common and participating preferred stockhold
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Top Holding Companies & Conglomerates Companies

Frequently Asked Questions Regarding INNOVATE

What is INNOVATE's stock symbol?
INNOVATE's stock symbol is VATE
What is INNOVATE's official website?
INNOVATE's official website is www.innovatecorp.com
What is INNOVATE's Revenue?
INNOVATE's revenue is $1.5 Billion
What is INNOVATE's SIC code?
INNOVATE's SIC: 67,671
What is INNOVATE's NAICS code?
INNOVATE's NAICS: 55,551
How many employees does INNOVATE have?
INNOVATE has 1K - 5K employees
What industry does INNOVATE belong to?
INNOVATE is in the industry of: Holding Companies & Conglomerates
What is INNOVATE competition?
INNOVATE top competitors include: iCapital Network, Bank of America Private Bank, Oscar Health, Schonfeld Strategic Advisors
What technology does INNOVATE use?
Some of the popular technologies that INNOVATE uses are: WordPress.org, PHP, Barracuda Networks, Google Font API
What does INNOVATE do?

Founded in 1994 and headquartered in New York City, Innovate Corp, formerly known as HC2 Holdings, Inc, is a portfolio of best-in-class assets in three key areas of the new economy Infrastructure, Life Sciences and Spectrum.... Read More

What are INNOVATE social media links?
INNOVATE Linkedin page
Is INNOVATE a public company?
Yes, INNOVATE is a public company and is traded under the symbol VATE
See more information about INNOVATE

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