Innventure, Inc.

Listed Company

INVCIK 0002001557NasdaqEmerging GrowthBlank ChecksDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.06M

Net Income

$-293.32M

Total Assets

$599.19M

Equity

$204.21M

Shares Out

80.07M

Op. Cash Flow

$-80.68M

Business

Innventure, Inc. founds, funds, and operates companies to commercialize transformative, sustainable technology solutions sourced or licensed from multinational corporations and other technology innovators. It develops and commercializes technology-driven products and services including polymer recycling and advanced conversion to petrochemical feedstocks (Refinity), curbside-recyclable flexible liquid packaging and filling systems (AeroFlexx), and direct-to-chip two-phase liquid cooling systems for data centers (Accelsius), alongside IP and manufacturing capabilities. Its key business segments are the Operating Companies, investment and management services, and the proprietary DownSelect commercialization process. Innventure scales and distributes solutions through strategic MNC channel partners, OEMs, CPG brands, data center operators, petrochemical customers, and centralized converting and filling networks across global markets.

Summary from filing dated 2025-04-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Revenue	2	—	1
Cost of sales	19	—	0
General and administrative	67	—	18
Sales and marketing	10	—	3
Research and development	25	—	4
Goodwill impairment	347	0	—
Total Operating Expenses	467	—	25
Loss from Operations	−465	—	−24
Interest expense, net	−10	—	−1
Change in fair value of financial liabilities	16	—	766,000
Equity method investment (loss) income	−13	—	−632,000
Realized gain on conversion of available for sale investment	2	—	—
Loss on conversion of promissory notes	0	—	—
Write-off of loan commitment fee asset	0	—	0
Miscellaneous other expense	−46,000	—	0
Total Non-operating (Expense) Income	−24	—	−7
Loss before Income Taxes	−489	—	−31
Income tax expense (benefit)	−13	—	0
Net Loss	−475	—	−31
Non-redeemable non-controlling interest	−182	—	−139,000
Net Loss Attributable to Innventure, Inc. Stockholders / Innventure LLC Unitholders	−293	—	−31
Basic loss per unit (in usd per share)	−5.39	—	—
Diluted loss per share (in usd per share)	−5.39	—	—
Basic weighted average common shares (in shares)	54	—	—
Diluted weighted average common shares (in shares)	54	—	—
Unrealized gain (loss) on available-for-sale debt securities - related party	−662,000	—	—
Reclassification of realized gain (loss) on conversion of available for sale investments	−2	—	—
Total other comprehensive gain (loss), net of taxes	−2	—	0
Total comprehensive income (loss), net of taxes	−478	—	−31
Non-redeemable non-controlling interest	−182	—	—
Net Comprehensive Loss Attributable to Innventure, Inc. Stockholders / Innventure LLC Unitholders	−295	—	−31

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash, cash equivalents and restricted cash	60	11	—	—	—
Restricted cash	5	0	—	—	—
Accounts receivable	1	283,000	—	0	—
Due from related party	12	5	—	3	—
Inventories	2	5	—	0	—
Prepaid expenses and other current assets	3	3	—	487,000	—
Total Current Assets	83	24	—	6	—
Investments	29	29	—	14	—
Property, plant and equipment, net	2	1	—	637,000	—
Intangible assets, net	161	182	—	0	—
Goodwill	323	668	—	0	—
Other assets	1	766,000	—	1	—
Total Assets	599	905	—	22	—
Accounts payable	3	3	—	—	—
Accrued employee benefits	11	9	—	4	—
Accrued expenses	7	2	—	1	—
Contract liabilities	947,000	0	—	—	—
Patent installment payable - current	700,000	1	—	775,000	—
Obligation to issue equity	119,000	4	—	0	—
Warrant liability	27	34	—	0	—
Income taxes payable	23,000	0	—	—	—
Other current liabilities	682,000	317,000	—	253,000	—
Total Current Liabilities	76	69	—	8	—
Notes payable, net of current portion	8	14	—	—	—
Earnout liability	4	15	—	0	—
Stock-based compensation liability	239,000	1	—	0	—
Patent installment payable, net of current	12	12	—	13	—
Deferred income taxes	14	27	—	0	—
Other liabilities	556,000	355,000	—	683,000	—
Total Liabilities	116	139	—	29	—
Commitments and Contingencies (Note 19)	—	—	—	—	—
Common stock	7,000	4,000	—	—	—
Additional paid-in capital	577	503	—	0	—
Accumulated other comprehensive gain (loss)	−1	909,000	—	0	—
Accumulated deficit	−372	−78	—	−64	—
Total Innventure, Inc., Stockholders Equity	204	426	—	−20	—
Non-controlling interest	279	341	—	2	—
Total Stockholders' Equity	484	766	−5	−18	−11
Total Liabilities and Stockholders Equity	599	905	—	22	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2023 2023-12-31
Stock-based compensation	28	910,000
Interest income on debt securities - related party	−394,000	0
Non-cash interest expense on notes payable	7	487,000
Accrued unpaid interest on note payable	336,000	0
Deferred income taxes	−13	0
Depreciation and amortization	23	8,000
Other costs, net	195,000	—
Accounts receivable	−811,000	0
Prepaid expenses and other current assets	−12	−218,000
Inventory	4	0
Accounts payable	−1	9,000
Accrued employee benefits	2	3
Accrued expenses	−480,000	1
Stock-based compensation liability	−921,000	0
Income taxes payable	23,000	—
Other current liabilities	−358,000	−155,000
Contract liabilities	947,000	—
Obligation to issue equity	0	0
Other assets	−61,000	−218,000
Patent installment payable	−525,000	0
Net Cash Used in Operating Activities	−81	−19
Advances to equity method investee	0	0
Acquisition of property, plant and equipment	−1	−645,000
Acquisition of intangible assets	0	0
Acquisition of net assets, net of cash acquired, through business combination	0	0
Proceeds from sale of investments	0	708,000
Cash withdrawn from trust as a result of business combination	0	0
Net Cash (Used in) Provided by Investing Activities	−4	−5
Proceeds from issuance of equity, net of issuance costs	13	16
Proceeds from the issuance of equity to non-controlling interest, net of issuance costs	71	337,000
Distributions to Stockholders	−76,000	—
Cash Flows Provided by Financing Activities	139	19
Net Increase in Cash, Cash Equivalents and Restricted Cash	54	−5
Cash paid for interest	0	297,000
Accretion of redeemable units to redemption value	0	5
Debt discount and embedded derivative upon issuance	0	1
Issuance of units to non-controlling interest in exchange of convertible promissory notes	0	0
Conversion of working capital loans to equity method investees into investments in debt securities - related party	4	0
Transfer of liability warrants to equity warrants in the Business Combination	0	0
Initial recognition of loan commitment fee	0	0
Transfer of loan commitment fee asset	0	0
Recognition of right of use asset and corresponding lease liability	927,000	—
Extinguishment of debt with Series C Preferred Stock	14	—
Contribution of Series C Preferred Stock to equity method investee	6	—
Conversion of AFX available-for-sale term loan into equity method investments	9	—
Issuance of common stock as repayment of convertible debt	47	—
Issuance of stock in exchange for services	4	—
Conversion of preferred stock into common stock	37	—
Transfer of Series C Preferred Stock from Mezzanine to Stockholders' equity	1	—
Embedded derivative in association with Convertible Debentures	2	—
Equity reallocation between non-controlling interest and additional paid-in capital	37	—
Embedded derivative liability derecognition	3	—

Filings

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