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Side-by-side financial comparison of Dolby Laboratories, Inc. (DLB) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $346.7M, roughly 1.1× Dolby Laboratories, Inc.). Dolby Laboratories, Inc. runs the higher net margin — 15.4% vs -1.9%, a 17.3% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs -2.9%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs 9.6%).
Dolby Laboratories, Inc. is an American technology corporation specializing in audio noise reduction, audio encoding/compression, spatial audio, and high-dynamic-range television (HDR) imaging. Dolby licenses its technologies to consumer electronics manufacturers.
Innovate Corp. is an American public financial services company founded in 1994.
DLB vs VATE — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $346.7M | $382.7M |
| Net Profit | $53.3M | $-7.4M |
| Gross Margin | 87.5% | 15.4% |
| Operating Margin | 17.9% | 3.7% |
| Net Margin | 15.4% | -1.9% |
| Revenue YoY | -2.9% | 61.7% |
| Net Profit YoY | -21.4% | 55.4% |
| EPS (diluted) | $0.55 | $-0.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $346.7M | — | ||
| Q4 25 | $346.7M | $382.7M | ||
| Q3 25 | $307.0M | $347.1M | ||
| Q2 25 | $315.5M | $242.0M | ||
| Q1 25 | $369.6M | $274.2M | ||
| Q4 24 | $357.0M | $236.6M | ||
| Q3 24 | $304.8M | $242.2M | ||
| Q2 24 | $288.8M | $313.1M |
| Q1 26 | $53.3M | — | ||
| Q4 25 | $53.3M | $-7.4M | ||
| Q3 25 | $49.3M | $-8.9M | ||
| Q2 25 | $46.1M | $-19.8M | ||
| Q1 25 | $91.8M | $-24.5M | ||
| Q4 24 | $67.8M | $-16.6M | ||
| Q3 24 | $58.6M | $-15.0M | ||
| Q2 24 | $38.4M | $14.4M |
| Q1 26 | 87.5% | — | ||
| Q4 25 | 87.5% | 15.4% | ||
| Q3 25 | 87.1% | 14.3% | ||
| Q2 25 | 86.1% | 18.8% | ||
| Q1 25 | 90.3% | 16.6% | ||
| Q4 24 | 88.6% | 19.6% | ||
| Q3 24 | 88.8% | 19.9% | ||
| Q2 24 | 87.7% | 21.0% |
| Q1 26 | 17.9% | — | ||
| Q4 25 | 17.9% | 3.7% | ||
| Q3 25 | 9.7% | 1.8% | ||
| Q2 25 | 15.1% | 2.0% | ||
| Q1 25 | 29.2% | 1.2% | ||
| Q4 24 | 22.4% | 1.1% | ||
| Q3 24 | 15.2% | 2.4% | ||
| Q2 24 | 12.7% | 9.2% |
| Q1 26 | 15.4% | — | ||
| Q4 25 | 15.4% | -1.9% | ||
| Q3 25 | 16.1% | -2.6% | ||
| Q2 25 | 14.6% | -8.2% | ||
| Q1 25 | 24.8% | -8.9% | ||
| Q4 24 | 19.0% | -7.0% | ||
| Q3 24 | 19.2% | -6.2% | ||
| Q2 24 | 13.3% | 4.6% |
| Q1 26 | $0.55 | — | ||
| Q4 25 | $0.55 | $-0.57 | ||
| Q3 25 | $0.50 | $-0.71 | ||
| Q2 25 | $0.48 | $-1.67 | ||
| Q1 25 | $0.94 | $-1.89 | ||
| Q4 24 | $0.70 | $-0.72 | ||
| Q3 24 | $0.59 | $-1.18 | ||
| Q2 24 | $0.40 | $1.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $644.6M | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $2.6B | $-240.1M |
| Total Assets | $3.2B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $644.6M | — | ||
| Q4 25 | $644.6M | $112.1M | ||
| Q3 25 | $702.6M | $35.5M | ||
| Q2 25 | $699.3M | $33.4M | ||
| Q1 25 | $626.6M | $33.3M | ||
| Q4 24 | $520.8M | $48.8M | ||
| Q3 24 | $482.0M | $51.0M | ||
| Q2 24 | $869.0M | $80.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | — | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M |
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.6B | $-240.1M | ||
| Q3 25 | $2.6B | $-233.3M | ||
| Q2 25 | $2.6B | $-224.8M | ||
| Q1 25 | $2.6B | $-204.2M | ||
| Q4 24 | $2.5B | $-180.4M | ||
| Q3 24 | $2.5B | $-163.1M | ||
| Q2 24 | $2.4B | $-149.0M |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $950.1M | ||
| Q3 25 | $3.2B | $913.2M | ||
| Q2 25 | $3.2B | $890.9M | ||
| Q1 25 | $3.2B | $868.0M | ||
| Q4 24 | $3.2B | $891.1M | ||
| Q3 24 | $3.1B | $897.2M | ||
| Q2 24 | $3.0B | $898.9M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $54.8M | $101.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.03× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $54.8M | — | ||
| Q4 25 | $54.8M | $101.1M | ||
| Q3 25 | $472.2M | $19.2M | ||
| Q2 25 | $67.7M | $40.4M | ||
| Q1 25 | $174.9M | $-14.1M | ||
| Q4 24 | $106.8M | $41.4M | ||
| Q3 24 | $327.3M | $-28.4M | ||
| Q2 24 | $21.3M | $21.5M |
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | — | ||
| Q3 25 | $435.9M | $19.0M | ||
| Q2 25 | $61.3M | — | ||
| Q1 25 | $168.0M | $-18.8M | ||
| Q4 24 | $100.0M | $34.2M | ||
| Q3 24 | $297.2M | $-31.5M | ||
| Q2 24 | $13.7M | $18.4M |
| Q1 26 | — | — | ||
| Q4 25 | 14.5% | — | ||
| Q3 25 | 142.0% | 5.5% | ||
| Q2 25 | 19.4% | — | ||
| Q1 25 | 45.5% | -6.9% | ||
| Q4 24 | 28.0% | 14.5% | ||
| Q3 24 | 97.5% | -13.0% | ||
| Q2 24 | 4.7% | 5.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | — | ||
| Q3 25 | 11.8% | 0.1% | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 1.9% | 1.7% | ||
| Q4 24 | 1.9% | 3.0% | ||
| Q3 24 | 9.8% | 1.3% | ||
| Q2 24 | 2.6% | 1.0% |
| Q1 26 | 1.03× | — | ||
| Q4 25 | 1.03× | — | ||
| Q3 25 | 9.57× | — | ||
| Q2 25 | 1.47× | — | ||
| Q1 25 | 1.91× | — | ||
| Q4 24 | 1.57× | — | ||
| Q3 24 | 5.59× | — | ||
| Q2 24 | 0.55× | 1.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLB
| Licensing | $319.8M | 92% |
| Products and services | $26.9M | 8% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
