Innventure, Inc. (INVLW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the INVLW SEC filings page.
Innventure, Inc. (INVLW) 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).
The dominant mechanic is development spending funded externally while a goodwill-heavy balance sheet expands far faster than reported revenue.
Revenue nearly doubled between FY2023 and FY2025, but operating cash flow became more negative, so the larger reported business did not yet improve self-funding. That cash-generation gap matters because financing cash flow increased sharply by FY2025, linking balance-sheet expansion to outside funding rather than operating cash generation.
The business remains development-stage: FY2025 R&D was
Operating cash flow was
Financial Health Signals
Innventure, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
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 $953K in revenue in Q2 2026. This represents an increase of 100.2% from the same quarter a year earlier. Against the prior quarter it is down 34.0%.
Innventure, Inc.'s EBITDA was -$25.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 81.1% from the same quarter a year earlier. Against the prior quarter it is down 19.4%.
Innventure, Inc. reported -$26.5M in net income in Q2 2026. This represents an increase of 68.5% from the same quarter a year earlier. Against the prior quarter it is down 27.4%.
Innventure, Inc. earned -$0.32 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 18.5%.
Cash & Balance Sheet
Innventure, Inc. recorded an outflow of $25.7M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 16.3% from the same quarter a year earlier. Against the prior quarter it is up 26.4%.
Innventure, Inc. held $41.5M in cash against $5.9M in long-term debt as of Q2 2026, with $59.8M of liabilities due within a year.
Not reported for Q2 2026.
Margins & Returns
Innventure, Inc.'s ROE was -12.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 26.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.1 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Innventure, Inc. invested $9.8M in research and development in Q2 2026. This represents an increase of 61.2% from the same quarter a year earlier. Against the prior quarter it is up 24.7%.
Innventure, Inc. invested $228K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 1420.0% from the same quarter a year earlier. Against the prior quarter it is down 73.0%.
Not reported for Q2 2026.
INVLW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $953K+100.2% | $1.4M+544.2% | $822K+80.3% | $534K+68.5% | $476K+113.5% | $224K0.0% | $456K | $317K+15.7% |
| Cost of Revenue | $5.1M+77.3% | $5.3M+2754.9% | $11.6M+210.2% | $4.1M+433.7% | $2.9M | $184K | $3.8M | $777K |
| Gross Profit | -$4.1M-72.7% | -$3.8M-9625.0% | -$10.8M-228.2% | -$3.6M-685.4% | -$2.4M-1169.5% | $40K-82.1% | -$3.3M | -$460K-267.9% |
| R&D Expenses | $9.8M+61.2% | $7.8M+25.4% | $6.6M+22.7% | $6.2M+142.8% | $6.1M+244.0% | $6.3M+274.7% | $5.3M | $2.5M+104.3% |
| SG&A Expenses | $14.5M-21.9% | $12.8M-35.2% | $11.5M-61.1% | $16.9M+87.0% | $18.6M+121.6% | $19.7M+148.9% | $29.7M | $9.1M+123.3% |
| Operating Income | -$31.5M+77.9% | -$27.3M+89.5% | -$31.7M+21.3% | -$29.2M-113.6% | -$142.6M-1163.3% | -$261.2M-2380.0% | -$40.3M | -$13.7M-139.2% |
| EBITDA | -$25.8M+81.1% | -$21.6M+91.5% | -$26.0M+25.3% | -$23.6M-73.3% | -$136.9M-1120.3% | -$255.7M-2328.7% | -$34.8M | -$13.6M-137.9% |
| Interest Expense | $1.1M-62.3% | $1.5M-16.4% | $2.0M+52.6% | $3.5M+261.1% | $2.9M+2866.7% | $1.8M+258.9% | $1.3M | $971K+156.2% |
| Income Tax | -$1.5M+31.6% | -$3.0M-117.2% | -$6.3M-90.8% | -$3.6M | -$2.2M | -$1.4M | -$3.3M | $0 |
| Net Income | -$26.5M+68.5% | -$20.8M+85.5% | -$37.8M+38.9% | -$28.3M-1181.4% | -$84.2M-1055.7% | -$143.0M-2639.9% | -$61.8M | -$2.2M+88.3% |
| EPS (Basic) | -$0.32+80.0% | -$0.27+91.3% | -$0.43+69.5% | -$0.51+45.7% | -$1.60 | -$3.10 | -$1.41 | -$0.94-11.9% |
| EPS (Diluted) | -$0.32 | -$0.27 | -$0.43 | -$0.51 | -$1.60 | -$3.10 | -$1.41 | -$0.94 |
| Diluted Shares (Avg) | 83M | 78M | N/A | 56M | 53M | 46M | 44M | 11M |
INVLW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $574.7M+3.4% | $591.5M-10.4% | $599.2M-33.8% | $556.5M+898.6% | $556.0M | $660.4M | $905.3M+4098.1% | $55.7M |
| Current Assets | $71.4M+238.1% | $81.8M+695.6% | $83.2M+242.4% | $32.3M+52.0% | $21.1M | $10.3M | $24.3M+328.8% | $21.2M |
| Cash & Equivalents | $41.5M+496.5% | $55.4M+3926.7% | $60.4M+443.7% | $9.1M-44.4% | $7.0M+234.7% | $1.4M-36.3% | $11.1M+331.8% | $16.3M+293.8% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $3.0M-54.8% | $1.6M-70.1% | $1.6M-69.0% | $6.4M+126.8% | $6.6M | $5.2M | $5.2M | $2.8M |
| Accounts Receivable | $2.1M+135.2% | $840K+254.4% | $1.1M+286.6% | $1.6M | $901K | $237K | $283K | N/A |
| Long-Term Investments | $26.6M-17.8% | $27.5M-18.4% | $28.7M0.0% | $31.2M-3.6% | $32.4M | $33.7M | $28.7M+102.8% | $32.4M |
| Goodwill | $323.5M0.0% | $323.5M-25.9% | $323.5M-51.6% | $323.5M | $323.5M | $436.8M | $667.9M | N/A |
| Total Liabilities | $362.0M+7.3% | $368.0M-7.7% | $395.0M-17.7% | $365.7M+368.7% | $337.4M | $398.9M | $479.8M+1053.1% | $78.0M |
| Current Liabilities | $59.8M-17.4% | $59.8M+26.5% | $76.3M+10.0% | $82.5M+98.3% | $72.3M | $47.3M | $69.3M+749.0% | $41.6M |
| Non-Current Liabilities | $302.2M+14.0% | $308.2M-12.3% | $318.7M-22.3% | $283.3M+677.4% | $265.1M | $351.6M | $410.4M+1127.3% | $36.4M |
| Long-Term Debt | $5.9M-64.7% | $6.9M-43.8% | $8.3M-39.0% | $29.5M+10366.0% | $16.8M | $12.3M | $13.7M+148.3% | $282K |
| Total Equity | $212.7M-2.7% | $223.4M-14.6% | $204.2M-52.0% | $190.8M+955.2% | $218.6M+1967.6% | $261.5M+2586.0% | $425.5M+2222.8% | -$22.3M-24.2% |
| Retained Earnings | -$418.9M-37.1% | -$392.4M-77.3% | -$371.6M-374.8% | -$333.8M-267.1% | -$305.5M | -$221.3M | -$78.3M-21.7% | -$91.0M |
INVLW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$25.4M-15.3% | -$34.0M-131.6% | -$24.4M+16.6% | -$19.6M-696.7% | -$22.1M-145.3% | -$14.7M-98.7% | -$29.2M-298.0% | -$2.5M |
| Depreciation & Amortization | $5.7M+0.5% | $5.7M+2.2% | $5.7M+4.2% | $5.6M+7222.1% | $5.6M+8703.1% | $5.5M+92366.7% | $5.5M+68087.5% | $77K |
| Stock-Based Compensation | N/A | $4.8M-17.3% | N/A | N/A | N/A | $5.8M+1375.0% | $16.3M | N/A |
| Capital Expenditures | $228K+1420.0% | $846K-7.7% | $46K-82.7% | $439K+1363.3% | $15K-77.3% | $917K+43.3% | $266K-43.6% | $30K |
| Free Cash Flow | -$25.7M-16.3% | -$34.9M-123.4% | -$24.4M+17.2% | -$20.0M-704.7% | -$22.1M-143.6% | -$15.6M-94.3% | -$29.5M-277.4% | -$2.5M |
| Investing Cash Flow | -$228K+40.9% | -$846K+74.0% | -$46K-100.7% | -$439K+72.2% | -$386K+67.8% | -$3.3M-2.3% | $6.8M+322.1% | -$1.6M |
| Financing Cash Flow | $11.8M-64.2% | $29.8M+263.1% | $75.8M+126.5% | $22.1M+21.7% | $33.0M+226.6% | $8.2M-19.2% | $33.5M+278.2% | $18.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | $26K | $663K | N/A |
Not reported in any period shown, so not listed: Share Buybacks.
INVLW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -432.3% | -264.0% | -1315.8% | -676.6% | -501.1% | 17.9%-82.1pp | -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%+26.1pp | -9.3%+45.4pp | -18.5%-4.0pp | -14.8% | -38.5% | -54.7% | -14.5% | N/A |
| Return on Assets | -4.6%+10.5pp | -3.5%+18.1pp | -6.3%+0.5pp | -5.1%-1.1pp | -15.2% | -21.6% | -6.8% | -4.0% |
| Current Ratio | 1.20+0.9x | 1.37+1.1x | 1.09+0.7x | 0.39-0.1x | 0.29 | 0.22 | 0.35-0.3x | 0.51 |
| Debt-to-Equity | 0.030.0x | 0.030.0x | 0.040.0x | 0.15 | 0.08 | 0.05 | 0.03 | N/A |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.00 | 0.00 | 0.00 | 0.01 |
| 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.
Where Innventure, Inc. Ranks
Frequently Asked Questions
What is Innventure, Inc.'s annual revenue?
Innventure, Inc. (INVLW) 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. (INVLW) reported a net income of -$293.3M in fiscal year 2025.
What is Innventure, Inc.'s EBITDA?
Innventure, Inc. (INVLW) 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. (INVLW) 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. (INVLW) 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. (INVLW) 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. (INVLW) 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. (INVLW) 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. (INVLW) 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. (INVLW) invested $25.0M in research and development during fiscal year 2025.
What is Innventure, Inc.'s current ratio?
Innventure, Inc. (INVLW) 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. (INVLW) 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. (INVLW) 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 Piotroski F-Score?
Innventure, Inc. (INVLW) 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. (INVLW) 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. (INVLW) 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.