Innventure, Inc. Financials
This page shows Innventure, Inc. (INV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
For every $1 of reported earnings, Innventure, Inc. generates $0.63 in operating cash flow (-$19.5M OCF vs -$30.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Innventure, Inc. earns $-17.3 in operating income for every $1 of interest expense (-$23.7M vs $1.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Innventure, Inc. generated $1.1M in revenue in fiscal year 2023.
Innventure, Inc.'s EBITDA was -$23.7M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
Innventure, Inc. generated -$20.1M in free cash flow in fiscal year 2023, representing cash available after capex.
Innventure, Inc. reported -$30.8M in net income in fiscal year 2023.
Innventure, Inc. held $2.6M in cash against $5.5M in long-term debt as of fiscal year 2023.
Innventure, Inc.'s gross margin was 100.0% in fiscal year 2023, indicating the percentage of revenue retained after direct costs.
Innventure, Inc.'s operating margin was -2119.8% in fiscal year 2023, reflecting core business profitability.
Innventure, Inc.'s net profit margin was -2761.4% in fiscal year 2023, showing the share of revenue converted to profit.
Innventure, Inc. invested $4.0M in research and development in fiscal year 2023.
Innventure, Inc. invested $645K in capex in fiscal year 2023, funding long-term assets and infrastructure.
INV Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $534K+12.2% | $476K+112.5% | $224K-50.9% | $456K+43.8% | $317K+42.2% | $223K-0.4% | $224K | N/A |
| Cost of Revenue | $4.1M+44.9% | $2.9M+1454.9% | $184K-95.1% | $3.8M+382.9% | $777K | $0 | $0 | N/A |
| Gross Profit | -$3.6M-51.5% | -$2.4M-6062.5% | $40K+101.2% | -$3.3M-616.5% | -$460K-306.3% | $223K-0.4% | $224K | N/A |
| R&D Expenses | $6.2M+1.4% | $6.1M-3.0% | $6.3M+17.1% | $5.3M+110.8% | $2.5M+43.6% | $1.8M+5.7% | $1.7M | N/A |
| SG&A Expenses | $16.9M-8.8% | $18.6M-5.6% | $19.7M-33.6% | $29.7M+227.6% | $9.1M+8.0% | $8.4M+6.0% | $7.9M | N/A |
| Operating Income | -$29.2M+79.5% | -$142.6M+45.4% | -$261.2M-548.2% | -$40.3M-194.7% | -$13.7M-21.2% | -$11.3M-7.2% | -$10.5M | N/A |
| Interest Expense | $3.5M+19.4% | $2.9M+66.7% | $1.8M+32.5% | $1.3M+37.0% | $971K+880.8% | $99K-79.8% | $491K | N/A |
| Income Tax | -$3.6M-62.3% | -$2.2M-58.7% | -$1.4M+57.4% | -$3.3M | $0 | $0 | $0 | N/A |
| Net Income | -$28.3M+66.4% | -$84.2M+41.1% | -$143.0M-131.6% | -$61.8M-2693.0% | -$2.2M+69.7% | -$7.3M-39.6% | -$5.2M | N/A |
| EPS (Diluted) | $-0.51+68.1% | $-1.60+48.4% | $-3.10-119.9% | $-1.41-50.0% | $-0.94 | N/A | N/A | N/A |
INV Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $556.5M+0.1% | $556.0M-15.8% | $660.4M-27.0% | $905.3M+1524.4% | $55.7M | N/A | N/A | $21.6M |
| Current Assets | $32.3M+52.6% | $21.1M+105.4% | $10.3M-57.7% | $24.3M+14.5% | $21.2M | N/A | N/A | $5.7M |
| Cash & Equivalents | $9.1M+30.1% | $7.0M+406.5% | $1.4M-87.6% | $11.1M-31.8% | $16.3M+683.1% | $2.1M-3.5% | $2.2M-16.2% | $2.6M |
| Inventory | $6.4M-3.3% | $6.6M+26.8% | $5.2M+0.8% | $5.2M+83.4% | $2.8M | N/A | N/A | $0 |
| Accounts Receivable | $1.6M+74.1% | $901K+280.2% | $237K-16.3% | $283K | N/A | N/A | N/A | $0 |
| Goodwill | $323.5M0.0% | $323.5M-25.9% | $436.8M-34.6% | $667.9M | N/A | N/A | N/A | $0 |
| Total Liabilities | $365.7M+8.4% | $337.4M-15.4% | $398.9M-16.9% | $479.8M+514.8% | $78.0M | N/A | N/A | $41.6M |
| Current Liabilities | $82.5M+14.0% | $72.3M+52.8% | $47.3M-31.8% | $69.3M+66.7% | $41.6M | N/A | N/A | $8.2M |
| Long-Term Debt | $29.5M+76.2% | $16.8M+35.7% | $12.3M-9.6% | $13.7M+4741.8% | $282K | N/A | N/A | $5.5M |
| Total Equity | $190.8M-12.7% | $218.6M-16.4% | $261.5M-38.5% | $425.5M+2007.5% | -$22.3M-90.6% | -$11.7M-11.2% | -$10.5M+47.5% | -$20.0M |
| Retained Earnings | -$333.8M-9.3% | -$305.5M-38.1% | -$221.3M-182.7% | -$78.3M+14.0% | -$91.0M | N/A | N/A | -$64.3M |
INV Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$19.6M+11.3% | -$22.1M-50.1% | -$14.7M+49.7% | -$29.2M-1194.9% | -$2.3M+74.9% | -$9.0M-21.6% | -$7.4M-0.8% | -$7.3M |
| Capital Expenditures | $439K+2826.7% | $15K-98.4% | $917K+244.7% | $266K+786.7% | $30K-54.5% | $66K-89.7% | $640K+35.6% | $472K |
| Free Cash Flow | -$20.0M+9.3% | -$22.1M-41.4% | -$15.6M+47.0% | -$29.5M-1189.6% | -$2.3M+74.8% | -$9.1M-12.7% | -$8.0M-2.9% | -$7.8M |
| Investing Cash Flow | -$439K-13.7% | -$386K+88.1% | -$3.3M-147.7% | $6.8M+572.1% | -$1.4M-20.7% | -$1.2M+62.4% | -$3.2M-3.5% | -$3.1M |
| Financing Cash Flow | $22.1M-33.1% | $33.0M+302.6% | $8.2M-75.5% | $33.5M+86.8% | $17.9M+77.1% | $10.1M-0.4% | $10.2M+14.8% | $8.8M |
| Dividends Paid | N/A | N/A | $26K-96.1% | $663K | N/A | N/A | $0 | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
INV Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -676.6%-175.5pp | -501.1%-518.9pp | 17.9%+740.7pp | -722.8%-577.7pp | -145.1%-245.1pp | 100.0%0.0pp | 100.0% | N/A |
| Operating Margin | -5469.1%+24483.4pp | -29952.5%+86653.7pp | -116606.3%-107769.2pp | -8837.1%-4523.5pp | -4313.6%+747.4pp | -5061.0%-359.2pp | -4701.8% | N/A |
| Net Margin | -5305.6%+12389.1pp | -17694.8%+46143.2pp | -63837.9%-50295.4pp | -13542.5%-12845.1pp | -697.5%+2570.7pp | -3268.2%-938.3pp | -2329.9% | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -5.1%+10.1pp | -15.2%+6.5pp | -21.6%-14.8pp | -6.8%-2.8pp | -4.0% | N/A | N/A | N/A |
| Current Ratio | 0.39+0.1 | 0.29+0.1 | 0.22-0.1 | 0.35-0.2 | 0.51 | N/A | N/A | 0.69 |
| Debt-to-Equity | 0.15+0.1 | 0.08+0.0 | 0.05+0.0 | 0.03+0.0 | -0.01 | N/A | N/A | -0.27 |
| FCF Margin | -3747.8%+889.4pp | -4637.2%+2332.9pp | -6970.1%-505.2pp | -6464.9%-5743.8pp | -721.1%+3341.6pp | -4062.8%-474.8pp | -3587.9% | N/A |
Note: Shareholder equity is negative (-$20.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.69), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Innventure, Inc.'s annual revenue?
Innventure, Inc. (INV) reported $1.1M in total revenue for fiscal year 2023. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Innventure, Inc. profitable?
No, Innventure, Inc. (INV) reported a net income of -$30.8M in fiscal year 2023, with a net profit margin of -2761.4%.
What is Innventure, Inc.'s EBITDA?
Innventure, Inc. (INV) had EBITDA of -$23.7M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Innventure, Inc. have?
As of fiscal year 2023, Innventure, Inc. (INV) had $2.6M in cash and equivalents against $5.5M in long-term debt.
What is Innventure, Inc.'s gross margin?
Innventure, Inc. (INV) had a gross margin of 100.0% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.
What is Innventure, Inc.'s operating margin?
Innventure, Inc. (INV) had an operating margin of -2119.8% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.
What is Innventure, Inc.'s net profit margin?
Innventure, Inc. (INV) had a net profit margin of -2761.4% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.
What is Innventure, Inc.'s free cash flow?
Innventure, Inc. (INV) generated -$20.1M in free cash flow during fiscal year 2023. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Innventure, Inc.'s operating cash flow?
Innventure, Inc. (INV) generated -$19.5M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are Innventure, Inc.'s total assets?
Innventure, Inc. (INV) had $21.6M in total assets as of fiscal year 2023, including both current and long-term assets.
What are Innventure, Inc.'s capital expenditures?
Innventure, Inc. (INV) invested $645K in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.
How much does Innventure, Inc. spend on research and development?
Innventure, Inc. (INV) invested $4.0M in research and development during fiscal year 2023.
What is Innventure, Inc.'s current ratio?
Innventure, Inc. (INV) had a current ratio of 0.69 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is Innventure, Inc.'s debt-to-equity ratio?
Innventure, Inc. (INV) had a debt-to-equity ratio of -0.27 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Innventure, Inc.'s return on assets (ROA)?
Innventure, Inc. (INV) had a return on assets of -143.0% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is Innventure, Inc.'s cash runway?
Based on fiscal year 2023 data, Innventure, Inc. (INV) had $2.6M in cash against an annual operating cash burn of $19.5M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Innventure, Inc.'s debt-to-equity ratio negative or unusual?
Innventure, Inc. (INV) has negative shareholder equity of -$20.0M as of fiscal year 2023, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
Are Innventure, Inc.'s earnings high quality?
Innventure, Inc. (INV) has an earnings quality ratio of 0.63x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Innventure, Inc. cover its interest payments?
Innventure, Inc. (INV) has an interest coverage ratio of -17.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.