Basic and Diluted Loss Per Common Share (Tables)

3 Months Ended

Mar. 31, 2025

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):


	Three Months Ended March 31,
		2025			2024
Net loss		$	(25.8)		$	(20.1)
Net loss attributable to non-controlling interest and redeemable non-controlling interest		1.3			2.7
Net loss attributable to INNOVATE Corp.		(24.5)			(17.4)
Less: Preferred dividends		0.3			0.3




Net loss attributable to common stockholders and participating preferred stockholders		$	(24.8)		$	(17.7)


Participating shares
Weighted-average common shares outstanding (1)		13,114,804			7,865,361

Series C Preferred stock (1)		—			156,986
Total		13,114,804			8,022,347

Percentage of loss allocated to:
Common stock		100.0		%	98.0		%

Series C Preferred stock		—		%	2.0		%

Numerator for loss per share:


Net loss attributable to common stock holders, basic and diluted		$	(24.8)		$	(17.3)
Net loss attributable to Series C holder, basic and diluted		—			(0.4)






Denominator for loss per share:


Weighted-average common shares outstanding - basic and diluted (1)		13,114,804			7,865,361
Weighted-average Series C shares outstanding - basic and diluted (1)		—			156,986

Loss per share
Loss per common share - basic and diluted (1)		$	(1.89)		$	(2.21)
Loss per Series C share - basic and diluted (1)		$	(1.89)		$	(2.21)

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