Revenue and Loss - Revenue for the nine months ended September 30, 2025, was $1,234,000, an increase of $470,000 or 61.5% compared to $764,000 for the same period in 2024[227] - Net loss attributable to Innventure, Inc. stockholders was $255,556,000 for the nine months ended September 30, 2025, compared to a loss of $14,719,000 in 2024, representing an increase of $240,837,000 or 1,636.2%[226] - Total comprehensive loss for the nine months ended September 30, 2025, was $431,601,000, compared to a loss of $28,854,000 in 2024, an increase of $402,747,000 or 1,395.8%[226] - Net loss attributable to Innventure, Inc. stockholders was $28,332 for the three months ended September 30, 2025, compared to $2,211 in 2024, an increase of $26,121 or 1,181.4%[245] - For the three months ended September 30, 2025, the company reported a net loss of $34,735, compared to a net loss of $7,641 for the same period in 2024[261] Expenses - Cost of sales increased to $7,192,000 for the nine months ended September 30, 2025, up $6,415,000 or 825.6% from $777,000 in 2024[228] - General and administrative expenses rose to $55,172,000, an increase of $29,849,000 or 117.9% from $25,323,000 in the prior year[229] - Research and development expenses surged to $18,472,000, an increase of $12,494,000 or 209.0% from $5,978,000 in 2024[232] - Interest expense, net, increased to $7,586,000, up $6,286,000 or 483.5% from $1,300,000 in the previous year[233] - Total operating expenses reached $434,211,000, an increase of $397,955,000 or 1,097.6% from $36,256,000 in the prior year[226] Cash Flow and Financing - Net cash used in operating activities increased to $56,328 for the nine months ended September 30, 2025, compared to $18,647 for the same period in 2024, representing a 202.1% increase[275] - Net cash used in investing activities decreased to $4,079 for the nine months ended September 30, 2025, down from $5,822 in 2024, a decrease of 29.9%[276] - Net cash provided by financing activities rose to $63,349 for the nine months ended September 30, 2025, compared to $38,191 in 2024, marking a 65.9% increase[277] - The company anticipates requiring at least $50,000 over the next 12 months to meet operating and strategic needs, with an additional $25,000 for growth[270] - The Standby Equity Purchase Agreement (SEPA) with Yorkville allows the company to sell up to $75,000 in common stock, with approximately $67,000 remaining available as of September 30, 2025[271] Goodwill and Impairment - Goodwill impairment expense was $346,557,000 for the nine months ended September 30, 2025, compared to $0 in 2024, reflecting a significant decline in market capitalization[230] - The company recognized a goodwill impairment of $346,557 for the nine months ended September 30, 2025, due to decreases in share price and market capitalization[264] Working Capital and Obligations - The company reported a working capital deficit of $(50,227) as of September 30, 2025, compared to $(45,061) as of December 31, 2024[270] - The total contractual obligations as of September 30, 2025, amount to $88,537, with significant debt obligations of $73,906[279] Going Concern and Management's Plans - The company has experienced recurring losses from operations and negative cash flows from operating activities, raising substantial doubt about its ability to continue as a going concern[280] - Management has indicated that without adequate capital from financing or sufficient revenues, the company may need to implement cost reduction measures[281] - The company has not made assurances that required financings will be available on commercially acceptable terms, which could materially affect its business[282] - The condensed consolidated financial statements have been prepared assuming the company will continue as a going concern, without adjustments for potential uncertainties[283] Accounting Policies - There have been no material changes to the company's critical accounting policies and estimates compared to the previous annual report[284] - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[285]
Innventure, Inc.(INV) - 2025 Q3 - Quarterly Report