Innovate (VATE) Operating Expenses (2010 - 2025)

Innovate's Operating Expenses history runs 16 years deep, the most recent figure standing at $46.4 million for Q4 2025.

• In Q4 2025, Operating Expenses changed 0.0% year-over-year to $46.4 million; the TTM figure through Dec 2025 stood at $176.0 million (down 4.97% YoY), while the FY2025 annual figure was $176.0 million, down 4.97% from the prior year.
• Operating Expenses was $46.4 million for Q4 2025 at Innovate, up from $45.3 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $56.1 million in Q4 2022 to a low of $40.6 million in Q2 2025.
• Historically, Operating Expenses has averaged $47.7 million across 5 years, with a median of $47.6 million in 2023.
• Biggest YoY gain for Operating Expenses was 123.87% in 2021; the steepest drop was 91.14% in 2021.
• A 5-year view of Operating Expenses shows it stood at $54.7 million in 2021, then grew by 2.56% to $56.1 million in 2022, then fell by 14.8% to $47.8 million in 2023, then decreased by 2.93% to $46.4 million in 2024, then changed by 0.0% to $46.4 million in 2025.
• The last three Operating Expenses figures came in at $46.4 million (Q4 2025), $45.3 million (Q3 2025), and $40.6 million (Q2 2025), per Business Quant data.