Basic and Diluted Loss Per Common Share (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Reconciliation of Net Loss to Net Loss used in the Basic and Diluted EPS Calculations

The following table presents a reconciliation of net loss to net loss used in the basic and diluted EPS calculations (in millions, except shares and per share amounts):


	Year Ended December 31,
		2024			2023
Net loss		$	(39.7)		$	(38.9)
Net loss attributable to non-controlling interest and redeemable non-controlling interest		5.1			3.7
Net loss attributable to INNOVATE Corp.		(34.6)			(35.2)
Less: Preferred dividends		1.2			2.4




Net loss attributable to common stockholders and participating preferred stockholders		$	(35.8)		$	(37.6)

Loss allocable to common shares:
Participating shares
Weighted-average common shares outstanding (1)		10,696,274			7,814,620

Series C Preferred stock		947,307			—
Total		11,643,581			7,814,620

Percentage of loss allocated to:
Common stock		91.9		%	100.0		%

Series C Preferred stock		8.1		%	—		%

Numerator for loss per share


Net loss attributable to common stock holders, basic and diluted		$	(32.9)		$	(37.6)
Net loss attributable to Series C holder, basic and diluted		$	(2.9)		$	—






Denominator for loss per share:
Weighted-average common shares outstanding - basic and diluted (1)		10,696,274			7,814,620


Weighted-average Series C shares outstanding - basic and diluted		947,307			—


Loss per common share - basic and diluted (1)		$	(3.08)		$	(4.81)
Loss per Series C share - basic and diluted		$	(3.08)		$	—

(1) Basic and diluted loss per common share and weighted-average common shares outstanding for the year ended December 31, 2023, in the table above have been retroactively adjusted to reflect the 1-for-10 reverse stock split effected on August 8, 2024.