Financial Performance - Revenue for the three months ended September 30, 2025, was $534,000, a 68.7% increase from $317,000 in the same period of 2024[21] - Operating expenses for the three months ended September 30, 2025, totaled $29,739,000, up from $13,991,000 in the prior year, representing a 112.5% increase[21] - Research and development expenses increased to $6,151,000 for the three months ended September 30, 2025, compared to $2,533,000 in the same period of 2024, marking a 142.5% rise[21] - The net loss attributable to Innventure, Inc. stockholders for the three months ended September 30, 2025, was $28,332,000, compared to a loss of $2,211,000 in the same period of 2024[21] - Basic and diluted loss per share for the three months ended September 30, 2025, was $(0.51), an improvement from $(0.94) in the prior year[21] - Total comprehensive loss for the three months ended September 30, 2025, was $34,454,000, compared to $10,014,000 in the same period of 2024[21] - The company reported a goodwill impairment of $346,557,000 for the nine months ended September 30, 2025[21] - Interest expense for the three months ended September 30, 2025, was $3,401,000, significantly higher than $852,000 in the same period of 2024[21] - The total operating expenses for the nine months ended September 30, 2025, were $434,211,000, compared to $36,256,000 in the same period of 2024, reflecting a substantial increase[21] - The net loss for the nine months ended September 30, 2025, was $429.684 million, compared to a net loss of $26.481 million for the same period in 2024, indicating a significant increase in losses[29] - Cash used in operating activities for the nine months ended September 30, 2025, was $56.328 million, up from $18.647 million in the prior year[29] - The company recognized an EBITDA loss of $412.499 million for the nine months ended September 30, 2025, compared to a loss of $25.035 million for the same period in 2024[33] Assets and Liabilities - Innventure reported total assets of $556.5 million as of September 30, 2025, down from $905.3 million at the end of 2024[18] - Cash and cash equivalents decreased to $9.1 million from $11.1 million at the end of 2024[18] - Accounts receivable increased significantly to $1.6 million from $283,000 at the end of 2024[18] - Total current liabilities rose to $82.5 million from $69.3 million at the end of 2024[18] - The accumulated deficit increased to $333.8 million from $78.3 million at the end of 2024[18] - Total stockholders' equity decreased to $406.6 million from $766.3 million at the end of 2024[18] - The company reported an accumulated deficit of $333.844 million as of September 30, 2025[27] - The total stockholders' equity increased to $525.745 million as of March 31, 2025, up from $766.293 million as of December 31, 2024[27] - The total number of common shares outstanding increased to 56,220,158 as of September 30, 2025[27] Financing Activities - The company issued 481,325 common shares, net of issuance costs, raising $2.625 million during the period[27] - The issuance of Series C Preferred Stock generated $5.663 million in net proceeds[27] - The company issued $36 million in debt securities, net of issuance costs, during the nine months ended September 30, 2025[29] - The net cash flows provided by financing activities were $63.349 million for the nine months ended September 30, 2025, compared to $38.191 million in the prior year[29] Strategic Developments - Accelsius secured a strategic investment from Johnson Controls and introduced the NeuCool® MR250 system, with a sales pipeline exceeding $1 billion[2] - AeroFlexx achieved its 5th consecutive quarter of revenue generation, expanding its customer pipeline in the U.S. and Europe[2] - Refinity is on track to demonstrate pilot scale and finalize initial site selection for its first plant by year-end 2025[2] - Innventure aims to unlock value through advancements in its operating companies and a high-quality pipeline of technology opportunities[3] Cash Flow and Expenses - The cash flow statements indicate significant cash movements, reflecting ongoing operational adjustments and financing activities[28] - Stock-based compensation expenses amounted to $7.725 million for the quarter ending September 30, 2025[27] - Stock-based compensation expenses increased to $22.972 million for the nine months ended September 30, 2025, compared to $1.056 million in the same period of 2024[35] - Cash paid for interest increased to $2.551 million for the nine months ended September 30, 2025, from $1.070 million in the previous year[31] - The company reported a change in fair value of financial liabilities of $(19.496) million for the nine months ended September 30, 2025[35]
Innventure, Inc.(INV) - 2025 Q3 - Quarterly Results