Risk Factors Update Summary
- Adoption of artificial intelligence (AI) and government regulation. This change introduces potential regulatory costs.
- Cash and cash equivalents increased from $80.4 million to $82.8 million, excluding restricted cash.
- Outstanding indebtedness decreased from $725.3 million to $722.8 million.
- Net loss attributable to INNOVATE decreased from $227.5 million to $35.9 million in 2023.
- DBMG's backlog increased from $1,782.3 million to $2,487.2 million, with $927.5 million attributable to five contracts.
- Federal net operating loss carryforwards decreased from $226.3 million to $179.2 million in 2023.
- Unexpected passing of Wayne Barr, Jr., President, and CEO. The new Interim CEO is Paul K. Voigt.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1006837&owner=exclude
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