Innovate (VATE) Q1 2026 Earnings Transcript

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DATE

Thursday, May 14, 2026 astatine 4:30 p.m. ET

CALL PARTICIPANTS

• Interim Chief Executive Officer — Paul Voigt

• Chief Financial Officer — Michael Sena

• SVP, Investor Relations — Anthony Rozmus

Full Conference Call Transcript

Anthony Rozmus: Good afternoon. Thank you for being with america to reappraisal INNOVATE's archetypal 4th 2026 net results. We are joined contiguous by Paul Voigt, INNOVATE's Interim CEO, and Mike Sena, INNOVATE's CFO. We person posted our net merchandise and our descent presumption connected our website astatine innovatecorp.com. We volition statesman our telephone with prepared remarks to beryllium followed by a Q&A session. This telephone is besides being simulcast and volition beryllium archived connected our website. During the call, absorption whitethorn marque definite statements and assumptions, which are not humanities facts, volition beryllium forward-looking and are being made pursuant to the harmless harbor provisions of the Private Securities Litigation Reform Act of 1995.

Any specified forward-looking statements impact risks, assumptions and uncertainties, and are taxable to definite assumptions and hazard factors that could origin INNOVATE's existent results to disagree materially from these forward-looking statements. The hazard factors that could origin these differences are much afloat disclosed successful the cautionary connection that is included successful our net merchandise and the descent presumption and further elaborate successful our 10-K and different filings with the SEC. In addition, the forward-looking statements included successful this league telephone are lone made arsenic of this day of the call, and arsenic stated successful our SEC reports. INNOVATE disclaims immoderate intent oregon work to update oregon revise these forward-looking statements, but arsenic expressly required by law.

Management volition besides notation to non-GAAP fiscal measures specified arsenic adjusted EBITDA. We judge that these measures supply utile supplemental information that, portion not a substitute for GAAP measures, let for greater transparency successful the reappraisal of our fiscal and operational performance. At this point, it is my pleasance to crook things implicit to Paul Voigt.

Paul Voigt: Good afternoon. We are pleased to study our archetypal 4th 2026 fiscal results and we'll supply you with an update connected our 3 operating segments. For the archetypal quarter, INNOVATE delivered consolidated revenues of $364.8 cardinal and adjusted EBITDA of $19.7 million. INNOVATE delivered a beardown commencement to the twelvemonth with coagulated execution crossed the portfolio and improving visibility into 2026. Infrastructure exited the 4th with beardown momentum and a steadfast backlog, portion beingness science, precocious cardinal regulatory and commercialized milestones -- astatine Spectrum, we proceed to marque advancement connected strategical initiatives that presumption the concern for improved show ahead.