Innovate Corporation Reports 22.7% Drop in <a href="https://laohu8.com/S/QTWO">Q2</a> 2025 Revenue, Posts $19.8 Million Net Loss
Innovate Corporation has released its financial results for the second quarter of 2025, reporting a notable decline in revenues and net income compared to the same period in 2024. The company recorded revenues of $242.0 million for the three months ended June 30, 2025, down from $313.1 million in the same quarter of the previous year. The six-month period ending June 30, 2025, saw revenues of $516.2 million, a decrease from $628.3 million in 2024. The net loss attributable to Innovate Corp. for the quarter was $19.8 million, compared to a net income of $14.4 million in the second quarter of 2024. For the six-month period, the net loss was reported at $44.3 million, contrasting with a modest net income of $3.0 million for the same period last year. Operating expenses for the quarter included selling, general and administrative expenses of $35.1 million, down from $42.9 million in Q2 2024. Depreciation and amortization remained consistent at $4.4 million for the quarter. The company recorded other operating losses of $1.2 million, compared to a gain of $10.5 million in the prior year's corresponding quarter. Innovate Corporation did not provide specific guidance or outlook in the earnings release.
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