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CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT - USD ($)
$ in Millions
Total
Temporary Equity
Total INNOVATE Stockholders' (Deficit) Equity
Common Stock
Additional Paid-In Capital
Treasury Stock
Accumulated Deficit
Accumulated Comprehensive Income (Loss)
 [2]
Non-Controlling Interest
Beginning balance at Dec. 31, 2023   $ 15.4              
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Issuance of preferred stock in private placement   25.0              
Net (loss) income   (0.2)              
Ending balance at Mar. 31, 2024   38.6              
Beginning balance (in shares) at Dec. 31, 2023 [1]       7,923,500          
Beginning balance at Dec. 31, 2023 $ (151.7)   $ (165.5) $ 0.0 [1] $ 328.3 $ (5.4) $ (487.3) $ (1.1) $ 13.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Share-based compensation 0.4   0.4   0.4        
Preferred stock dividends (0.3) (0.3) (0.3)   (0.3)        
Issuance of common stock (in shares) [1]       65,100          
Rights offering, net of transaction costs (0.5) (1.3) (0.5)   (0.5)        
Other (0.1)   (0.1)   (0.1)        
Net loss (19.9)   (17.4)       (17.4)   (2.5)
Other comprehensive income (1.1)   (1.0)         (1.0) (0.1)
Ending balance (in shares) at Mar. 31, 2024 [1]       7,988,600          
Ending balance at Mar. 31, 2024 (173.2)   (184.4) $ 0.0 [1] 327.8 (5.4) (504.7) (2.1) 11.2
Beginning balance at Dec. 31, 2023   15.4              
Ending balance at Dec. 31, 2024 15.6 15.6              
Beginning balance (in shares) at Dec. 31, 2023 [1]       7,923,500          
Beginning balance at Dec. 31, 2023 $ (151.7)   (165.5) $ 0.0 [1] 328.3 (5.4) (487.3) (1.1) 13.8
Ending balance (in shares) at Dec. 31, 2024 13,261,379     13,261,400 [1]          
Ending balance at Dec. 31, 2024 $ (159.3)   (180.4) $ 0.0 350.1 (5.4) (521.9) (3.2) 21.1
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Net (loss) income   (0.2)              
Ending balance at Mar. 31, 2025 15.4 $ 15.4              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Share-based compensation 0.8   0.8   0.8        
Shares received for taxes paid for share-based compensation (in shares) [1]       (15,100)          
Shares received for taxes paid for share-based compensation (0.1)   (0.1)     (0.1)      
Preferred stock dividends (0.3)   (0.3)   (0.3)        
Issuance of common stock (in shares) [1]       36,900          
Transactions with non-controlling interests 0.0   0.1   0.1       (0.1)
Net loss (25.6)   (24.5)       (24.5)   (1.1)
Other comprehensive income $ 0.2   0.2         0.2  
Ending balance (in shares) at Mar. 31, 2025 13,283,218     13,283,200 [1]          
Ending balance at Mar. 31, 2025 $ (184.3)   $ (204.2) $ 0.0 $ 350.7 $ (5.5) $ (546.4) $ (3.0) $ 19.9
[1] The number and amount of shares and Additional Paid-in Capital as of December 31, 2023, and as of and for three month period ended March 31, 2024, have been retroactively adjusted to reflect the 1-for-10 reverse stock split effected on August 8, 2024. Refer to Note 15. Equity and Temporary Equity.
[2] Inclusive of other comprehensive loss, foreign currency cumulative translation adjustments totaled a loss of $4.2 million and $4.5 million as of March 31, 2025 and December 31, 2024, respectively.