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INV

Innventure, Inc.

INV

Innventure, Inc. • NASDAQ
$5.75 ▲ 10.58% (+0.55)
Market Cap $323.92 M
52w High $14.95
52w Low $2.36
Dividend Yield 0%
P/E -0.9
Volume 786.11K
Outstanding Shares 56.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $534K ▲ $19.954M ▼ $-28.332M ▲ -5.306K% ▲ $-0.51 ▲ $-29.299M ▲
Q2-2025 $476K ▲ $140.189M ▼ $-84.227M ▲ -17.695K% ▲ $-1.6 ▲ $-135.214M ▲
Q1-2025 $224K ▼ $261.238M ▲ $-142.997M ▼ -63.838K% ▼ $-3.1 ▼ $-247.987M ▼
Q4-2024 $456K ▲ $37.001M ▲ $-61.754M ▼ -13.543K% ▼ $-1.41 ▼ $-66.788M ▼
Q3-2024 $317K $13.214M $-2.211M -697.476% $-0.05 $-6.712M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $14.061M ▲ $556.515M ▲ $149.936M ▲ $190.769M ▼
Q2-2025 $6.965M ▲ $555.985M ▼ $129.925M ▲ $218.551M ▼
Q1-2025 $1.375M ▼ $660.419M ▼ $105.947M ▼ $290.225M ▼
Q4-2024 $11.119M ▼ $905.289M ▲ $138.996M ▲ $425.516M ▲
Q3-2024 $16.297M $55.731M $78.039M $-35.388M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-28.332M ▲ $-19.574M ▲ $-439K ▼ $22.109M ▼ $7.096M ▲ $-20.013M ▲
Q2-2025 $-84.227M ▲ $-22.058M ▼ $-386K ▲ $33.034M ▲ $5.59M ▲ $-22.073M ▼
Q1-2025 $-253.674M ▼ $-14.696M ▲ $-3.254M ▼ $8.206M ▼ $-9.744M ▼ $-15.613M ▲
Q4-2024 $-70.093M ▼ $-29.214M ▼ $6.822M ▲ $33.466M ▲ $11.074M ▼ $-29.51M ▼
Q3-2024 $-9.358M $-2.457M $-1.58M $18.167M $14.13M $-2.487M

Five-Year Company Overview

Income Statement

Income Statement Innventure is still a “pre-revenue” story. The company has essentially no meaningful revenue yet and is funding a corporate platform and portfolio build-out rather than running a mature asset-management business. Losses have been consistent over the last few years, but they are relatively modest in size, reflecting a lean cost base rather than heavy-scale operations. In practical terms, this is an early-stage holding and operating company whose income statement will only start to change meaningfully if and when its portfolio companies ramp up commercial activity or generate exits and fees.

Balance Sheet

Balance Sheet The balance sheet is very small, but it has strengthened recently. Total assets have increased from a very low base, and reported equity has moved from almost nothing to a clearer positive position, which likely reflects recent capital raising or restructuring. Cash on hand is limited, and there is some debt, but leverage does not appear extreme in absolute terms—more a sign of a thin capital structure than of a heavily indebted business. Overall, Innventure has a light asset footprint and a still-narrow financial cushion, so access to external capital remains important.

Cash Flow

Cash Flow Cash flow is consistently negative from operations, in line with a company investing in building its platform before revenue arrives. There is little to no spending on physical assets, which means most cash outflow is tied to people, portfolio building, and overhead rather than big plants or equipment. The burn rate looks modest in absolute terms, but with a small cash balance the company will likely need ongoing funding support until its portfolio companies start generating cash back to the parent. Cash flow is therefore a key risk and monitoring point.

Competitive Edge

Competitive Edge Innventure’s edge comes from its unusual model: it partners with large multinationals to spin out and scale technologies that big corporations consider non-core but still promising. This gives it access to ideas that have already been technically de-risked to some degree, plus potential anchor customers and strategic backing. Its formal, repeatable selection process and operational support are differentiators versus traditional venture capital. On the other hand, Innventure is still small, depends heavily on a few portfolio companies, and competes indirectly with corporate venture arms, incubators, and private equity. Its competitive position will ultimately be judged on whether portfolio companies like Accelsius, AeroFlexx, and Refinity can reach meaningful commercial scale and prove that the model works repeatedly, not just once.

Innovation and R&D

Innovation and R&D Innventure does not run a classic in-house R&D lab; instead, its “innovation engine” is about sourcing, licensing, and commercializing high-potential technologies from large corporations. The portfolio is clearly innovation-heavy: advanced data-center cooling (Accelsius), sustainable liquid packaging (AeroFlexx), and plastics recycling-to-feedstock (Refinity), plus a prior success story with PureCycle. These platforms target structural themes like AI infrastructure, e-commerce and sustainability, and circular plastics. The upside is substantial if these technologies scale, but there is meaningful execution, regulatory, and adoption risk in each area. Innventure’s model concentrates technology risk at the portfolio level rather than in a broad, diversified fund, which can amplify both successes and setbacks.

Summary

Innventure is an early-stage, publicly traded innovation platform rather than a traditional fee-driven asset manager. Financially, it has almost no revenue today, ongoing but manageable losses, a very small yet recently strengthened balance sheet, and negative operating cash flow that will require continued funding support. Strategically, its model of partnering with large corporations to commercialize de-risked technologies is distinctive and gives it access to high-impact, sustainability-focused themes. The main swing factor is execution: the long-term outcome depends on whether current and future portfolio companies can move from promising technology and partnerships to durable, scalable businesses that eventually reshape the company’s financial profile. Uncertainty is high, and results are likely to be lumpy as individual portfolio wins or setbacks flow through over time.

NEWS

November 18, 2025 · 8:00 AM UTC

Innventure Strengthens Corporate Governance with Appointment of Bruce Brown as Lead Independent Director

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November 13, 2025 · 4:15 PM UTC

Innventure Reports Third Quarter 2025 Results

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October 23, 2025 · 7:00 AM UTC

Accelsius Brings Advanced AI Cooling Technology to NVIDIA GTC Washington, D.C.

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October 13, 2025 · 7:00 AM UTC

Accelsius Introduces NeuCool® MR250, Unlocking At-Scale Two-Phase, Direct-to-Chip Cooling for AI and HPC

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October 6, 2025 · 1:23 PM UTC

CORRECTION -- Innventure announces strategic investment in Accelsius by Johnson Controls

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