---
title: "Innovate (VATE.US) — Financial Reports"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/VATE.US/norm.md"
symbol: "VATE.US"
name: "Innovate"
parent: "https://longbridge.com/en/quote/VATE.US.md"
datetime: "2026-05-20T14:40:20.463Z"
locales:
  - [en](https://longbridge.com/en/quote/VATE.US/norm.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/VATE.US/norm.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/VATE.US/norm.md)
---

# Innovate (VATE.US) — Financial Reports

## Income Statement (USD)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| EPS | -1.29 | -0.5847 | -0.7086 | -1.67 | -1.89 |
| ROE | 27.72% | 13.18% | 16.42% | 41.03% | 51.59% |
| Revenue | 364.80M | 382.70M | 347.10M | 242.00M | 274.20M |
| Net income | -17.20M | -7.80M | -9.40M | -22.00M | -24.80M |
| Operating income | 10.00M | 14.30M | 6.10M | 4.90M | 3.40M |
| Gross margin | 14.67% | 15.39% | 14.32% | 18.84% | 16.59% |
| Net margin | -4.61% | -1.93% | -2.56% | -8.18% | -8.94% |
| Profit quality | - | 14.14% | 31.77% | 12.13% | -24.11% |

## Balance Sheet (USD)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| A&L | 936.80M | 950.10M | 913.20M | 890.90M | 868.00M |
| Leverage | -4.03 | -4.41 | -4.40 | -4.71 | -5.14 |
| BVPS | -18.79 | -17.58 | -17.09 | -16.86 | -15.37 |
| Turnover | 1.48 | 1.35 | 1.22 | 1.11 | 1.18 |
| Cash & STI | 134.60M | 112.10M | 35.50M | 33.40M | 33.30M |
| Inv & Rec | 15.40M | 16.00M | 18.10M | 20.70M | 19.70M |
| LT assets | 148.10M | 194.70M | 186.40M | 182.10M | 185.60M |
| Net debt | 545.00M | 605.40M | 688.20M | 656.50M | 684.90M |

## Cash Flow Statement (USD)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| Operating CF | - | 101.10M | 19.20M | 40.40M | -14.10M |
| Investing CF | - | -7.50M | -4.90M | -6.30M | -3.90M |
| Financing CF | - | -17.10M | -11.90M | -34.60M | 2.40M |
| Free CF | - | 105.24M | -9.09M | 49.56M | 13.32M |
| OCF coverage | - | 423.01% | 55.65% | 36.01% | -63.51% |
| Repaid & issued | - | 500000.00 | 14.70M | 72.00M | 20.00M |
| CapEx | - | -7.50M | -8.00M | -6.40M | -4.70M |