Innventure, Inc. Financials
Innventure, Inc. (INV) reported $3.8M in revenue over the twelve months to Jun 30, 2026, up 154.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Innventure’s reported scale is balance-sheet-led: goodwill and external financing outweigh a still-unprofitable operating engine.
From FY2023 to FY2025, assets expanded from$21.6M to$599.2M while revenue reached only$2.1M and goodwill stood at$323.5M ; the apparent scale is therefore primarily an asset-recognition story, not a proportionate revenue base. In FY2025, operating cash flow of-$80.7M sat close to free cash flow of-$82.1M despite only$1.4M of capital spending, so cash consumption was overwhelmingly operating rather than reinvestment-heavy.
The cost structure deteriorated sharply: gross margin moved from
FY2025 financing cash inflow of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Innventure, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Innventure, Inc.'s reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 12/100.
Innventure, Inc.'s revenue surged 84.1% year-over-year to $2.1M, reflecting rapid business expansion. This strong growth earns a score of 97/100.
Innventure, Inc. carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.
Innventure, Inc.'s current ratio of 1.09 is below the typical benchmark, resulting in a score of 24/100. However, the company holds substantial cash reserves (79% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Innventure, Inc.'s reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.
Innventure, Inc. posts a -143.6% return on equity (ROE), meaning it loses $144 for every $100 of shareholders' equity. This results in a returns score of 22/100.
Innventure, Inc. scores -3.22, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($123.5M) relative to total liabilities ($395.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Innventure, Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Innventure, Inc. reported a net loss of $293.3M while operations used $80.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Innventure, Inc. reported an operating loss of $464.7M against $10.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Innventure, Inc. generated $2.1M in revenue in fiscal year 2025.
Innventure, Inc.'s EBITDA was -$442.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Innventure, Inc. reported -$293.3M in net income in fiscal year 2025.
Cash & Balance Sheet
Innventure, Inc. recorded an outflow of $82.1M in free cash flow in fiscal year 2025, representing a cash shortfall after capex.
Innventure, Inc. held $60.4M in cash against $8.3M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Innventure, Inc.'s ROE was -143.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Innventure, Inc. invested $25.0M in research and development in fiscal year 2025.
Innventure, Inc. invested $1.4M in capex in fiscal year 2025, funding long-term assets and infrastructure.
Not reported for fiscal year 2025.
INV Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $953K-34.0% | $1.4M+75.5% | $822K+53.9% | $534K+12.2% | $476K+112.5% | $224K-50.9% | $456K+43.8% | $317K |
| Cost of Revenue | $5.1M-3.4% | $5.3M-54.9% | $11.6M+180.6% | $4.1M+44.9% | $2.9M+1454.9% | $184K-95.1% | $3.8M+382.9% | $777K |
| Gross Profit | -$4.1M-8.1% | -$3.8M+64.8% | -$10.8M-199.4% | -$3.6M-51.5% | -$2.4M-6062.5% | $40K+101.2% | -$3.3M-616.5% | -$460K |
| R&D Expenses | $9.8M+24.7% | $7.8M+19.6% | $6.6M+6.5% | $6.2M+1.4% | $6.1M-3.0% | $6.3M+17.1% | $5.3M+110.8% | $2.5M |
| SG&A Expenses | $14.5M+13.7% | $12.8M+10.5% | $11.5M-31.8% | $16.9M-8.8% | $18.6M-5.6% | $19.7M-33.6% | $29.7M+227.6% | $9.1M |
| Operating Income | -$31.5M-15.4% | -$27.3M+13.9% | -$31.7M-8.6% | -$29.2M+79.5% | -$142.6M+45.4% | -$261.2M-548.2% | -$40.3M-194.7% | -$13.7M |
| Interest Expense | $1.1M-24.8% | $1.5M-27.4% | $2.0M-42.1% | $3.5M+19.4% | $2.9M+66.7% | $1.8M+32.5% | $1.3M+37.0% | $971K |
| Income Tax | -$1.5M+50.0% | -$3.0M+51.5% | -$6.3M-73.8% | -$3.6M-62.3% | -$2.2M-58.7% | -$1.4M+57.4% | -$3.3M | $0 |
| Net Income | -$26.5M-27.4% | -$20.8M+44.9% | -$37.8M-33.3% | -$28.3M+66.4% | -$84.2M+41.1% | -$143.0M-131.6% | -$61.8M-2693.0% | -$2.2M |
| EPS (Diluted) | -$0.32-18.5% | -$0.27+37.2% | -$0.43 | -$0.51+68.1% | -$1.60+48.4% | -$3.10-119.9% | -$1.41 | -$0.94 |
INV Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $574.7M-2.8% | $591.5M-1.3% | $599.2M+7.7% | $556.5M+0.1% | $556.0M-15.8% | $660.4M-27.0% | $905.3M+1524.4% | $55.7M |
| Current Assets | $71.4M-12.7% | $81.8M-1.6% | $83.2M+157.8% | $32.3M+52.6% | $21.1M+105.4% | $10.3M-57.7% | $24.3M+14.5% | $21.2M |
| Cash & Equivalents | $41.5M-25.0% | $55.4M-8.4% | $60.4M+567.1% | $9.1M+30.1% | $7.0M+406.5% | $1.4M-87.6% | $11.1M-31.8% | $16.3M |
| Inventory | $3.0M+91.4% | $1.6M-2.6% | $1.6M-75.0% | $6.4M-3.3% | $6.6M+26.8% | $5.2M+0.8% | $5.2M+83.4% | $2.8M |
| Accounts Receivable | $2.1M+152.3% | $840K-23.2% | $1.1M-30.3% | $1.6M+74.1% | $901K+280.2% | $237K-16.3% | $283K | N/A |
| Goodwill | $323.5M0.0% | $323.5M0.0% | $323.5M0.0% | $323.5M0.0% | $323.5M-25.9% | $436.8M-34.6% | $667.9M | N/A |
| Total Liabilities | $362.0M-1.6% | $368.0M-6.8% | $395.0M+8.0% | $365.7M+8.4% | $337.4M-15.4% | $398.9M-16.9% | $479.8M+514.8% | $78.0M |
| Current Liabilities | $59.8M-0.1% | $59.8M-21.5% | $76.3M-7.5% | $82.5M+14.0% | $72.3M+52.8% | $47.3M-31.8% | $69.3M+66.7% | $41.6M |
| Long-Term Debt | $5.9M-14.9% | $6.9M-16.7% | $8.3M-71.8% | $29.5M+76.2% | $16.8M+35.7% | $12.3M-9.6% | $13.7M+4741.8% | $282K |
| Total Equity | $212.7M-4.8% | $223.4M+9.4% | $204.2M+7.0% | $190.8M-12.7% | $218.6M-16.4% | $261.5M-38.5% | $425.5M+2007.5% | -$22.3M |
| Retained Earnings | -$418.9M-6.8% | -$392.4M-5.6% | -$371.6M-11.3% | -$333.8M-9.3% | -$305.5M-38.1% | -$221.3M-182.7% | -$78.3M+14.0% | -$91.0M |
INV Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$25.4M+25.3% | -$34.0M-39.7% | -$24.4M-24.4% | -$19.6M+11.3% | -$22.1M-50.1% | -$14.7M+49.7% | -$29.2M-1089.0% | -$2.5M |
| Capital Expenditures | $228K-73.0% | $846K+1739.1% | $46K-89.5% | $439K+2826.7% | $15K-98.4% | $917K+244.7% | $266K+786.7% | $30K |
| Free Cash Flow | -$25.7M+26.4% | -$34.9M-42.9% | -$24.4M-21.9% | -$20.0M+9.3% | -$22.1M-41.4% | -$15.6M+47.0% | -$29.5M-1085.4% | -$2.5M |
| Investing Cash Flow | -$228K+73.0% | -$846K-1739.1% | -$46K+89.5% | -$439K-13.7% | -$386K+88.1% | -$3.3M-147.7% | $6.8M+531.8% | -$1.6M |
| Financing Cash Flow | $11.8M-60.3% | $29.8M-60.7% | $75.8M+242.8% | $22.1M-33.1% | $33.0M+302.6% | $8.2M-75.5% | $33.5M+84.2% | $18.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | $26K-96.1% | $663K | N/A |
Not reported in any period shown, so not listed: Share Buybacks.
INV Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -432.3% | -264.0% | -1315.8% | -676.6% | -501.1% | 17.9% | -722.8% | -145.1% |
| Operating Margin | -3304.1% | -1891.7% | -3859.1% | -5469.1% | -29952.5% | -116606.3% | -8837.1% | -4313.6% |
| Net Margin | -2781.0% | -1441.8% | -4593.8% | -5305.6% | -17694.8% | -63837.9% | -13542.5% | -697.5% |
| Return on Equity | -12.5%-3.1pp | -9.3%+9.2pp | -18.5%-3.6pp | -14.8%+23.7pp | -38.5%+16.1pp | -54.7%-40.2pp | -14.5% | N/A |
| Return on Assets | -4.6%-1.1pp | -3.5%+2.8pp | -6.3%-1.2pp | -5.1%+10.1pp | -15.2%+6.5pp | -21.6%-14.8pp | -6.8%-2.8pp | -4.0% |
| Current Ratio | 1.20-0.2x | 1.37+0.3x | 1.09+0.7x | 0.39+0.1x | 0.29+0.1x | 0.22-0.1x | 0.35-0.2x | 0.51 |
| Debt-to-Equity | 0.030.0x | 0.030.0x | 0.04-0.1x | 0.15+0.1x | 0.080.0x | 0.050.0x | 0.03 | N/A |
| FCF Margin | -2692.9% | -2417.0% | -2968.5% | -3747.8% | -4637.2% | -6970.1% | -6464.9% | -784.5% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Innventure, Inc. Ranks
Frequently Asked Questions
What is Innventure, Inc.'s annual revenue?
Innventure, Inc. (INV) reported $2.1M in total revenue for fiscal year 2025. 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 -$293.3M in fiscal year 2025.
What is Innventure, Inc.'s EBITDA?
Innventure, Inc. (INV) had EBITDA of -$442.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Innventure, Inc. have?
As of fiscal year 2025, Innventure, Inc. (INV) had $60.4M in cash and equivalents against $8.3M in long-term debt.
What is Innventure, Inc.'s return on equity (ROE)?
Innventure, Inc. (INV) has a return on equity of -143.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Innventure, Inc.'s free cash flow?
Innventure, Inc. (INV) recorded an outflow of $82.1M in free cash flow during fiscal year 2025. 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) recorded an outflow of $80.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Innventure, Inc.'s total assets?
Innventure, Inc. (INV) had $599.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Innventure, Inc.'s capital expenditures?
Innventure, Inc. (INV) invested $1.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Innventure, Inc. spend on research and development?
Innventure, Inc. (INV) invested $25.0M in research and development during fiscal year 2025.
What is Innventure, Inc.'s current ratio?
Innventure, Inc. (INV) had a current ratio of 1.09 as of fiscal year 2025, which is considered adequate.
What is Innventure, Inc.'s debt-to-equity ratio?
Innventure, Inc. (INV) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, 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 -48.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Innventure, Inc.'s Altman Z-Score?
Innventure, Inc. (INV) has an Altman Z-Score of -3.22, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Innventure, Inc.'s Piotroski F-Score?
Innventure, Inc. (INV) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Innventure, Inc.'s earnings high quality?
Innventure, Inc. (INV) reported a net loss of $293.3M while operations used $80.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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) reported an operating loss of $464.7M against $10.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.
How financially healthy is Innventure, Inc.?
Innventure, Inc. (INV) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.