INV · Innventure, Inc.

Innventure, Inc. identifies, funds, and operates companies with a focus on sustainable technology solutions acquired or licensed from multinational corporations. Innventure, Inc. was founded in 2015 and is headquartered in Orlando, Florida.

Cap structure and valuation

Cap structure
SP	$1.51
SO	84.6M
Options	0.3M
Warrants	18.6M
FD SO	103.6M
MC	$156.4M

Cash	$41.5M
Total debt	$26.0M ⚠
EV	$140.9M

TTM Multiples
EV / Revenue	37.6x
EV / EBITDA	—
MC / Net Income	—
EV / FCF	—
MC / FCF	—

Ownership & coverage
Institutional	41.1%
Insiders	31.6%
# Institutions	167
Analysts	2
Consensus	Strong Buy
Avg target	$5.50

Short % float	12.0%
Days to cover	4.89

MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-08-07. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-08-24 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-07-31; the float denominator can be unreliable on tiny floats.

Debt figure uncertain — $46.1M of liabilities are neither recognized debt nor a named non-debt item. Verify against the filing before relying on EV.

Financial statements

	6/30/26	3/31/26	12/31/25	9/30/25
Total Revenue	0.95	1.44	0.82	0.53
Revenue YoY %	100.2%	544.2%	80.3%	68.5%
Cost of Revenue	5.07	5.25	11.64	4.15
Gross Profit	(4.12)	(3.81)	(10.82)	(3.61)
Gross Profit YoY %	(72.7%)	(9625.0%)	(228.2%)	(685.4%)
Gross Margin %	(432.3%)	(264.0%)	(1315.8%)	(676.6%)

SG&A	17.59	15.65	14.35	19.44
R&D	9.78	7.84	6.55	6.15
Operating Expense	27.37	23.49	20.91	25.59

Operating Income	(31.49)	(27.30)	(31.72)	(29.20)
Operating Income YoY %	77.9%	89.5%	21.3%	(113.6%)
Operating Margin %	(3304.1%)	(1891.7%)	(3859.1%)	(5469.1%)
EBITDA	(25.83)	(21.63)	(26.04)	(23.57)
EBITDA Margin %	(2710.2%)	(1498.7%)	(3167.5%)	(4413.3%)

Interest Expense	1.11	1.47	2.34	3.51
Other Income / (Expense)	(3.84)	(2.05)	(17.86)	(5.63)
Pretax Income	(36.43)	(30.82)	(51.93)	(38.34)
Tax Provision	(1.52)	(3.04)	(6.26)	(3.60)
Net Income	(34.91)	(27.78)	(45.67)	(34.73)
Net Income to Common	(26.50)	(20.80)	(37.76)	(28.33)
Net Margin %	(3663.6%)	(1925.4%)	(5555.5%)	(6504.7%)

Diluted EPS	-$0.32	-$0.27	-$0.43	-$0.51
Basic EPS	-$0.32	-$0.27	-$0.43	-$0.51
Diluted Avg Shares	83.1	77.8	—	55.8
Basic Avg Shares	83.1	77.8	—	55.8

	LTM	12/31/25	12/31/23
Total Revenue	3.75	2.06	1.12
Revenue YoY %	82.5%	84.1%	—
Cost of Revenue	26.11	18.83	0.00
Gross Profit	(22.36)	(16.77)	1.12
Gross Profit YoY %	(33.3%)	(1601.7%)	—
Gross Margin %	(595.9%)	(815.9%)	100.0%

SG&A	67.03	76.34	20.79
R&D	30.32	25.02	4.00
Operating Expense	97.35	447.93	24.80

Operating Income	(119.71)	(464.70)	(23.68)
Operating Income YoY %	74.2%	(1862.6%)	—
Operating Margin %	(3190.6%)	(22602.1%)	(2119.8%)
EBITDA	(97.06)	(442.19)	(23.67)
EBITDA Margin %	(2586.8%)	(21507.4%)	(2119.1%)

Interest Expense	8.43	10.23	1.37
Other Income / (Expense)	(29.38)	(13.90)	(5.94)
Pretax Income	(157.52)	(488.83)	(30.98)
Tax Provision	(14.42)	(13.48)	0.00
Net Income	(143.10)	(475.35)	(30.98)
Net Income to Common	(113.40)	(293.32)	(30.84)
Net Margin %	(3813.9%)	(23120.1%)	(2773.9%)

Diluted EPS	-$1.53	-$5.39	—
Basic EPS	-$1.53	-$5.39	—
Diluted Avg Shares	83.1	54.4	—
Basic Avg Shares	83.1	54.4	—

	6/30/26	3/31/26	12/31/25	9/30/25
Cash & Equivalents	41.54	55.37	60.45	9.06
Receivables	2.12	0.84	1.09	1.57
Inventory	2.99	1.56	1.60	6.40
Other Current Assets	24.79	24.05	20.01	15.22
Total Current Assets	71.44	81.82	83.15	32.25

Net PPE	2.27	2.30	1.94	2.18
Goodwill	323.46	323.46	323.46	323.46
Intangible Assets	149.73	155.13	160.54	165.94
Long-term Investments	26.64	27.47	28.74	31.21
Total Assets	574.70	591.48	599.19	556.51

Accounts Payable	1.93	3.00	2.55	0.86
Other Current Liabilities	57.84	56.85	73.72	81.62
Total Current Liabilities	59.77	59.85	76.28	82.48
Long-term Debt	5.91	6.94	8.33	29.51
Other Liabilities	26.21	26.55	30.91	37.95
Total Liabilities	91.88	93.33	115.51	149.94
Mezzanine Equity	—	—	0.00	0.00

Retained Earnings	(418.91)	(392.41)	(371.60)	(333.84)
Total Equity	482.81	498.15	483.68	406.58

	LTM	12/31/25	12/31/23
Cash & Equivalents	41.54	60.45	2.58
Receivables	2.12	1.09	0.00
Inventory	2.99	1.60	0.00
Other Current Assets	24.79	20.01	3.09
Total Current Assets	71.44	83.15	5.66

Net PPE	2.27	1.94	0.64
Goodwill	323.46	323.46	0.00
Intangible Assets	149.73	160.54	0.00
Long-term Investments	26.64	28.74	14.17
Other Assets	—	—	1.10
Total Assets	574.70	599.19	21.56

Accounts Payable	1.93	2.55	—
Other Current Liabilities	57.84	73.72	8.17
Total Current Liabilities	59.77	76.28	8.17
Long-term Debt	5.91	8.33	5.50
Other Liabilities	26.21	30.91	15.75
Total Liabilities	91.88	115.51	29.42
Mezzanine Equity	—	0.00	—

Retained Earnings	(418.91)	(371.60)	(64.28)
Total Equity	482.81	483.68	(7.86)

	6/30/26	3/31/26	12/31/25	9/30/25
Net Income	(34.91)	(27.78)	(45.67)	(34.73)
D&A	5.66	5.67	5.68	5.64
Stock-Based Comp	5.48	4.83	4.90	7.72
Δ Working Cap & Other	(1.66)	(16.75)	10.73	1.80
Operating Cash Flow	(25.43)	(34.03)	(24.36)	(19.57)

CapEx	(0.23)	(0.85)	(0.05)	(0.44)
Investing Cash Flow	(0.23)	(0.85)	(0.05)	(0.44)

Debt Repayment	(1.18)	(7.41)	—	(2.70)
Other Financing	13.02	37.21	75.79	24.81
Financing Cash Flow	11.84	29.80	75.79	22.11

Free Cash Flow	(25.66)	(34.88)	(24.40)	(20.01)

	LTM	12/31/25	12/31/23
Net Income	(143.10)	(475.35)	(30.98)
D&A	22.65	22.51	0.01
Stock-Based Comp	22.93	27.87	0.91
Δ Working Cap & Other	(5.88)	344.29	10.59
Operating Cash Flow	(103.39)	(80.68)	(19.48)

CapEx	(1.56)	(1.42)	(0.65)
Acquisitions	—	0.00	0.00
Other Investing	—	(2.71)	(4.02)
Investing Cash Flow	(1.56)	(4.12)	(4.67)

Dividends Paid	—	—	(0.24)
Other Financing	139.53	139.14	19.41
Financing Cash Flow	139.53	139.14	19.17

Free Cash Flow	(104.95)	(82.10)	(20.12)

	6/30/26	3/31/26	12/31/25	9/30/25
Current Ratio	1.20	1.37	1.09	0.39
Quick Ratio	1.15	1.34	1.07	0.31
Debt / Equity	0.01	0.01	0.02	0.07
EBITDA Margin %	(2710.2%)	(1498.7%)	(3167.5%)	(4413.3%)
Working Capital	11.67	21.98	6.88	(50.23)
Net Debt	(35.63)	(48.43)	(52.12)	20.45
ROE %	(7.2%)	(5.6%)	(9.4%)	(8.5%)
ROA %	(6.1%)	(4.7%)	(7.6%)	(6.2%)

	LTM	12/31/25	12/31/23
Current Ratio	1.20	1.09	0.69
Quick Ratio	1.15	1.07	0.69
Debt / Equity	0.01	0.02	-0.70
EBITDA Margin %	(2586.8%)	(21507.4%)	(2119.1%)
Working Capital	11.67	6.88	(2.50)
Net Debt	(35.63)	(52.12)	2.92
ROE %	(29.6%)	(98.3%)	394.4%
ROA %	(24.9%)	(79.3%)	(143.7%)

Insider activity (last 2 years)

Date Filed	Reporter	Relationship	Trans. Date	Code	Shares	Price	Total Value
2026-08-21	Brown Bruce	Director	2026-08-20	P	30,000	$1.51	$45,399
2026-08-21	Haskell Gregory W	Director, Officer (Chief Executive Officer)	2026-08-20	P	50,000	$1.51	$75,600
2026-08-21	Otworth Michael	Director, Officer (Executive Chairman)	2026-08-20	P	231,000	$1.51	$349,295
2026-08-21	Donnally James O	Director	2026-08-20	P	225,000	$1.50	$337,500
2026-07-01	Brown Bruce	Director	2026-06-30	A	7,083	—	$0
2026-07-01	Donnally James O	Director	2026-06-30	A	5,425	—	$0
2026-07-01	Donnally James O	Director	2026-06-30	G	(5,425)	—	$-0
2026-07-01	Donnally James O	Director	2026-06-30	G	5,425	—	$0
2026-07-01	Williams Elizabeth Suzanne	Director	2026-06-30	A	2,466	—	$0
2026-07-01	Niemeyer Suzanne	Director	2026-06-16	F	(27,276)	$6.01	-$163,929
2026-06-22	Amalfitano Michael	Director	2026-06-17	A	18,237	—	$0
2026-06-22	Brown Bruce	Director	2026-06-17	A	18,237	—	$0
2026-06-22	Hewitt John D.	Director	2026-06-17	A	18,237	—	$0
2026-06-22	Williams Elizabeth Suzanne	Director	2026-06-17	A	18,237	—	$0
2026-06-22	Donnally James O	Director	2026-06-17	A	18,237	—	$0
2026-06-22	Donnally James O	Director	2026-06-17	G	(22,305)	—	$-0
2026-06-22	Donnally James O	Director	2026-06-17	G	22,305	—	$0
2026-06-22	Fallon Catriona M	Director	2026-06-17	A	18,237	—	$0
2026-05-08	Hewitt John D.	Director	2026-05-08	A	2,561	—	$0
2026-05-01	Haskell Gregory W	Director, Officer (Chief Executive Officer)	2026-04-17	A	46,460	—	$0
2026-05-01	Donnally James O	Director	2026-04-17	A	80,848	—	$0
2026-05-01	Donnally James O	Director	2026-04-17	A	27,849	—	$0
2026-05-01	Yablunosky David	Director, Officer (CFO and CAO)	2026-04-17	A	1,236	—	$0
2026-05-01	Otworth Michael	Director, Officer (Executive Chairman)	2026-04-17	A	154,829	—	$0
2026-04-22	HENNESSY DANIEL J	Director	2026-04-20	S	(582,139)	$5.52	-$3,213,407
2026-04-16	HENNESSY DANIEL J	Director	2026-04-14	S	(2,992)	$5.01	-$14,990
2026-04-06	Yablunosky David	Director, Officer (CFO and CAO)	2026-04-02	A	121,228	—	$0
2026-04-06	Yablunosky David	Director, Officer (CFO and CAO)	2026-04-02	A	85,795	—	$0
2026-04-06	Niemeyer Suzanne	Director	2026-04-02	A	121,228	—	$0
2026-04-06	Niemeyer Suzanne	Director	2026-04-02	A	85,795	—	$0
2026-04-06	Haskell Gregory W	Director, Officer (Chief Executive Officer)	2026-04-02	A	121,228	—	$0
2026-04-06	Haskell Gregory W	Director, Officer (Chief Executive Officer)	2026-04-02	A	228,787	—	$0
2026-04-06	Otworth Michael	Director, Officer (Executive Chairman)	2026-04-02	A	121,228	—	$0
2026-04-06	Otworth Michael	Director, Officer (Executive Chairman)	2026-04-02	A	85,795	—	$0
2026-04-02	Donnally James O	Director	2026-03-31	A	7,033	$3.91	$27,499
2026-04-02	Brown Bruce	Director	2026-03-31	A	8,951	$3.91	$34,998
2026-04-02	HENNESSY DANIEL J	Director	2026-03-31	A	6,394	$3.91	$25,001
2026-04-02	Williams Elizabeth Suzanne	Director	2026-03-31	A	3,197	$3.91	$12,500
2026-03-02	Scott John Stewart	Officer (Chief Strategy Officer)	2026-02-26	F	(150,053)	$2.80	-$420,148
2026-03-02	Otworth Michael	Director, Officer (Executive Chairman)	2026-02-26	F	(218,577)	$2.80	-$612,016
2026-02-24	Brown Bruce	Director	2026-02-20	A	8,202	$3.83	$31,414
2026-02-24	Donnally James O	Director	2026-02-17	A	7,180	$3.83	$27,499
2025-12-18	WE-INN LLC	10% Owner	2025-12-18	S	(252,502)	$4.68	-$1,181,709
2025-12-18	WE-INN LLC	10% Owner	2025-12-17	S	(184,777)	$4.86	-$898,016
2025-12-05	HENNESSY DANIEL J	Director	2025-12-04	S	(55,840)	$5.19	-$289,810
2025-12-03	WE-INN LLC	10% Owner	2025-12-03	S	(172,589)	$4.76	-$821,524
2025-12-03	WE-INN LLC	10% Owner	2025-12-02	S	(117,901)	$4.95	-$583,610
2025-12-03	Otworth Michael	Director, Officer (Executive Chairman)	2025-12-02	P	12,000	$5.06	$60,720
2025-12-03	HENNESSY DANIEL J	Director	2025-12-02	S	(8,450)	$5.01	-$42,334
2025-12-03	WE-INN LLC	10% Owner	2025-12-01	S	(427,301)	$5.11	-$2,183,508
2025-12-03	Austrup Roland	Officer (Chief Growth Officer)	2025-12-01	P	4,900	$5.01	$24,549
2025-12-03	HENNESSY DANIEL J	Director	2025-12-01	S	(81,993)	$5.13	-$420,624
2025-11-26	Haskell Gregory W	Director, Officer (Chief Executive Officer)	2025-11-26	P	10,000	$5.14	$51,400
2025-11-26	Scott John Stewart	Officer (Chief Strategy Officer)	2025-11-26	S	(452,668)	$5.13	-$2,322,187
2025-11-26	HENNESSY DANIEL J	Director	2025-11-25	S	(266,367)	$5.31	-$1,414,409
2025-11-25	Donnally James O	Director	2025-11-21	P	27,886	$3.37	$93,976
2025-11-21	Niemeyer Suzanne	Director	2025-11-20	P	4,000	$3.40	$13,600
2025-11-20	WE-INN LLC	10% Owner	2025-11-20	S	(302,211)	$3.51	-$1,060,761
2025-11-20	WE-INN LLC	10% Owner	2025-11-19	S	(235,765)	$3.34	-$787,455
2025-11-20	WE-INN LLC	10% Owner	2025-11-18	S	(263,782)	$3.61	-$952,253
2025-10-29	WE-INN LLC	10% Owner	2025-10-29	S	(149,708)	$2.92	-$437,147
2025-10-29	WE-INN LLC	10% Owner	2025-10-27	S	(98,167)	$2.97	-$291,556
2025-10-24	WE-INN LLC	10% Owner	2025-10-24	S	(263,627)	$3.03	-$798,790
2025-10-24	WE-INN LLC	10% Owner	2025-10-23	S	(193,587)	$3.13	-$605,927
2025-10-24	WE-INN LLC	10% Owner	2025-10-22	S	(436,296)	$3.01	-$1,313,251
2025-10-14	WE-INN LLC	10% Owner	2025-10-10	S	(2,300)	$3.92	-$9,016
2025-10-14	HENNESSY DANIEL J	Director	2025-10-09	S	(10,828)	$5.21	-$56,414
2025-10-08	HENNESSY DANIEL J	Director	2025-10-08	S	(8,606)	$5.05	-$43,460
2025-10-08	HENNESSY DANIEL J	Director	2025-10-07	S	(500)	$5.01	-$2,505
2025-10-08	HENNESSY DANIEL J	Director	2025-10-06	S	(6,265)	$5.11	-$32,014
2025-10-01	Brown Bruce	Director	2025-09-30	A	4,750	$5.79	$27,502
2025-10-01	Donnally James O	Director	2025-09-30	A	4,750	$5.79	$27,502
2025-08-27	Yablunosky David	Director, Officer (CFO and CAO)	2025-08-25	A	112,740	—	$0
2025-08-27	Niemeyer Suzanne	Director	2025-08-25	A	225,479	—	$0
2025-08-27	Yablunosky David	Director, Officer (CFO and CAO)	2025-07-23	F	(27,276)	$4.92	-$134,198
2025-08-27	Niemeyer Suzanne	Director	2025-07-23	F	(27,276)	$4.92	-$134,198
2025-06-27	Amalfitano Michael	Director	2025-06-25	A	22,305	—	$0
2025-06-27	HENNESSY DANIEL J	Director	2025-06-25	A	22,305	—	$0
2025-06-27	Donnally James O	Director	2025-06-25	A	22,305	—	$0
2025-06-27	Brown Bruce	Director	2025-06-25	A	22,305	—	$0
2025-06-27	Williams Elizabeth Suzanne	Director	2025-06-25	A	22,305	—	$0
2025-04-28	Donnally James O	Director	2025-04-25	J	3,940,706	$5.00	$19,703,530
2025-04-28	Donnally James O	Director	2025-04-25	J	(1,970,353)	—	$-0
2025-04-28	Scott John Stewart	Officer (Chief Strategy Officer)	2025-04-24	J	452,668	$5.00	$2,263,340
2025-04-28	Scott John Stewart	Officer (Chief Strategy Officer)	2025-04-24	J	(226,334)	—	$-0
2025-04-28	Otworth Michael	Director, Officer (Executive Chairman)	2025-04-24	J	228,322	$5.00	$1,141,610
2025-04-28	Otworth Michael	Director, Officer (Executive Chairman)	2025-04-24	J	(114,161)	—	$-0
2025-04-24	Otworth Michael	Director, Officer (Executive Chairman)	2025-03-24	P	114,161	—	$0
2025-04-24	Scott John Stewart	Officer (Chief Strategy Officer)	2025-03-24	P	226,334	—	$0
2025-04-24	Donnally James O	Director	2025-03-24	P	578,294	—	$0
2025-04-24	Donnally James O	Director	2025-03-24	P	1,392,059	—	$0
2025-04-24	Otworth Michael	Director, Officer (Executive Chairman)	2025-02-13	J	(58,333)	—	$-0
2025-04-24	Otworth Michael	Director, Officer (Executive Chairman)	2025-02-13	J	7,126	—	$0
2025-04-24	Scott John Stewart	Officer (Chief Strategy Officer)	2025-02-13	J	(58,333)	—	$-0
2025-04-24	Scott John Stewart	Officer (Chief Strategy Officer)	2025-02-13	J	4,280	—	$0
2025-04-24	Donnally James O	Director	2025-02-13	J	(58,333)	—	$-0
2025-04-24	Donnally James O	Director	2025-02-13	J	13,919	—	$0
2025-04-24	Otworth Michael	Director, Officer (Executive Chairman)	2025-02-04	A	154,829	—	$0
2025-04-24	Otworth Michael	Director, Officer (Executive Chairman)	2025-02-04	A	2,131	—	$0
2025-04-24	Scott John Stewart	Officer (Chief Strategy Officer)	2025-02-04	A	92,910	—	$0
2025-04-24	Scott John Stewart	Officer (Chief Strategy Officer)	2025-02-04	A	2,131	—	$0
2025-04-24	Austrup Roland	Officer (Chief Growth Officer)	2025-02-04	A	50,782	—	$0
2025-04-24	Donnally James O	Director	2025-02-04	A	80,848	—	$0
2025-04-24	Donnally James O	Director	2025-02-04	A	2,131	—	$0
2025-04-24	Donnally James O	Director	2025-02-04	A	27,849	—	$0
2025-04-24	Yablunosky David	Director, Officer (CFO and CAO)	2025-02-04	A	1,236	—	$0
2025-04-24	Haskell Gregory W	Director, Officer (Chief Executive Officer)	2025-02-04	A	46,460	—	$0
2024-12-11	Brown Bruce	Director	2024-12-09	A	7,377	—	$0
2024-12-11	Williams Elizabeth Suzanne	Director	2024-12-09	A	7,377	—	$0
2024-12-11	Amalfitano Michael	Director	2024-12-09	A	7,377	—	$0
2024-12-11	Scott John Stewart	Officer (Chief Strategy Officer)	2024-12-09	A	336,066	—	$0
2024-12-11	Scott John Stewart	Officer (Chief Strategy Officer)	2024-12-09	A	163,934	—	$0
2024-12-11	Donnally James O	Director	2024-12-09	A	7,377	—	$0
2024-12-11	Yablunosky David	Director, Officer (CFO and CAO)	2024-12-09	A	336,066	—	$0
2024-12-11	Yablunosky David	Director, Officer (CFO and CAO)	2024-12-09	A	163,934	—	$0
2024-12-11	HENNESSY DANIEL J	Director	2024-12-09	A	7,377	—	$0
2024-12-11	Niemeyer Suzanne	Director	2024-12-09	A	336,066	—	$0
2024-12-11	Niemeyer Suzanne	Director	2024-12-09	A	163,934	—	$0
2024-12-11	Otworth Michael	Director, Officer (Executive Chairman)	2024-12-09	A	537,705	—	$0
2024-12-11	Otworth Michael	Director, Officer (Executive Chairman)	2024-12-09	A	262,295	—	$0