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Innventure
(NASDAQ:INV)
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Rating:51Neutral
Price Target:
$3.00
▲(3.81% Upside)
Action:Reiterated
Date:07/18/26
INV’s score is held back primarily by weak financial quality—large ongoing losses and significant negative operating/free cash flow—plus a bearish technical trend with price below major moving averages. The main offset is a more constructive earnings-call outlook, supported by >$50M bookings, improving cost discipline, and guidance toward positive operating cash flow at Accelsius by late 2026; valuation provides limited support given negative earnings and no dividend yield.
Positive Factors
Strong revenue acceleration
Sustained, high-percentage revenue growth from a low base indicates commercial traction across operating companies and validates product-market fit progress. Over 2–6 months this supports scaling operating leverage, strengthens partner discussions, and underpins management's path to unit economics improvement as volumes grow.
Negative Factors
Deep negative profitability
Sustained large negative margins reflect structural unprofitability at current scale and indicate that revenue growth must be substantial and sustained to reach breakeven. Persistently negative returns erode retained equity value, constrain reinvestment capacity, and lengthen the timeline to self-sustaining operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue acceleration
Sustained, high-percentage revenue growth from a low base indicates commercial traction across operating companies and validates product-market fit progress. Over 2–6 months this supports scaling operating leverage, strengthens partner discussions, and underpins management's path to unit economics improvement as volumes grow.
Read all positive factors
Innventure (INV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$270.62M
Dividend YieldN/A
Average Volume (3M)1.81M
Price to Earnings (P/E)―
Beta (1Y)1.59
Revenue Growth126.80%
EPS Growth40.08%
CountryUS
Employees169
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-3.05
Shares Outstanding84,044,750
10 Day Avg. Volume2,174,681
30 Day Avg. Volume1,810,620
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.11
Price to Sales (P/S)110.64
P/FCF Ratio-2.77
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$13.00Price Target Upside349.83% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.84
Revenue Forecast (FY)$32.59M
Innventure Business Overview & Revenue Model
Company Description
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....
How the Company Makes Money
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Innventure Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 13, 2026
Earnings Call Sentiment Positive
The call conveyed substantial commercial and technical progress across the operating companies—large YoY revenue growth, a $50M+ bookings quarter, product launches, strategic partnerships, pipeline expansion at AeroFlexx, and technical validation at Refinity. Management also highlighted cost reductions and proactive liquidity management. However, the enterprise remains early-stage with material quarterly losses (net loss $20.8M; adjusted EBITDA loss $18.4M), continued cash consumption, reliance on capital markets for runway extension, and inherent lumpiness/visibility limits in bookings and cash-conversion metrics. On balance, the positive operational momentum and tangible commercial signals currently outweigh the financial and execution risks presented.Positive Updates
Strong Revenue Growth
Consolidated revenue of $1.4M in Q1 2026, up from $0.2M in Q1 2025 (+600% year-over-year) and up from $0.8M in Q4 2025 (+75% sequential). Accelsius contributed $1.3M, the highest quarterly revenue since reporting began.
Negative Updates
Ongoing Quarterly Losses
Net loss attributable to Innventure stockholders was $20.8M for Q1 2026 (although noted as the lowest since going public). Adjusted EBITDA loss for the quarter was $18.4M.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Consolidated revenue of $1.4M in Q1 2026, up from $0.2M in Q1 2025 (+600% year-over-year) and up from $0.8M in Q4 2025 (+75% sequential). Accelsius contributed $1.3M, the highest quarterly revenue since reporting began.
Read all positive updates
Company Guidance
Management guided that Accelsius is expected to exit December 2026 with positive operating cash flow, implying an approximately $100 million annualized revenue run rate, and that the company expects strong revenue and adjusted‑EBITDA growth in H2 2026 and into 2027; Q1 consolidated revenue was $1.4M (up from $0.2M YoY and $0.8M in Q4), with Accelsius contributing $1.3M and more than $50M of bookings in the quarter. They also highlighted AeroFlexx’s commercial momentum — a $32M pipeline (up 21% since January) with $13.2M in final negotiation (up 40%) and ~$3.6M of Aveda‑related opportunities leading to initial orders for a 2027 launch — and Refinity’s progress toward a 10‑kiloton demonstration plant (detailed design expected to finish by end of Q3, midyear runs on partner assets and pilot olefin yields meeting/exceeding targets). On liquidity and costs, Q1 G&A was $12.7M (down $7M YoY), professional fees were $3.0M (down 51% YoY), net loss attributable to stockholders was $20.8M, adjusted EBITDA loss was $18.4M, cash and restricted cash totaled $60.4M (down $5.1M), the company received $37.2M net from a registered direct offering, paid down $7.4M of debt, invested $0.8M in PP&E, used $16.4M in working capital and $17.6M in other cash OpEx, and subsequently raised ~ $11.9M via the standby equity facility while limiting dilution on that execution to roughly 2% and keeping projected annualized dilution under 10%.Innventure Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.27M | 2.06M | 1.22M | 1.12M | 942.00K | 1.85M |
| Gross Profit | -20.62M | -39.28M | -3.31M | 1.12M | 942.00K | 1.85M |
| EBITDA | -232.82M | -456.65M | -93.11M | -29.75M | -31.89M | 8.03M |
| Net Income | -171.03M | -293.32M | -78.19M | -30.84M | -32.76M | 6.66M |
Balance Sheet | ||||||
| Total Assets | 591.48M | 599.19M | 905.29M | 21.56M | 27.98M | 233.81M |
| Cash, Cash Equivalents and Short-Term Investments | 55.37M | 60.45M | 11.12M | 2.58M | 7.54M | 237.36K |
| Total Debt | 26.70M | 33.39M | 28.28M | 7.41M | 5.90M | 0.00 |
| Total Liabilities | 93.33M | 115.51M | 139.00M | 40.05M | 39.17M | 19.79M |
| Stockholders Equity | 223.44M | 204.21M | 425.52M | -20.05M | -11.85M | 214.03M |
Cash Flow | ||||||
| Free Cash Flow | -101.36M | -82.10M | -49.06M | -20.12M | -9.95M | -3.90M |
| Operating Cash Flow | -100.02M | -80.68M | -48.06M | -19.48M | -9.95M | -3.90M |
| Investing Cash Flow | -1.72M | -4.13M | 865.00K | -4.67M | 1.48M | 564.00K |
| Financing Cash Flow | 160.73M | 139.14M | 71.91M | 19.17M | 11.67M | 6.08M |
Innventure Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $428.46M | 6.13 | 17.20% | 5.27% | 20.30% | 19.12% | |
56 Neutral | $217.10M | 9.07 | 6.38% | 21.11% | 6.21% | -42.00% | |
54 Neutral | $296.89M | -9.17 | -6.84% | 16.93% | -14.06% | -306.26% | |
51 Neutral | $270.62M | -1.01 | -81.74% | ― | 126.80% | 40.08% | |
49 Neutral | $183.51M | 4.26 | 12.12% | 20.94% | 18.91% | 14.29% |
* Financial Sector Average
INV
Innventure
3.22
-1.73
-34.95%
NEWT
Newtek Business
14.83
4.16
38.95%
SCM
Stellus Capital
7.50
-4.73
-38.66%
TPVG
TriplePoint Venture Growth
4.52
-1.24
-21.58%
PSBD
Palmer Square Capital BDC Inc.
9.54
-2.55
-21.09%
Innventure Corporate Events
Business Operations and StrategyExecutive/Board Changes
Innventure Announces CEO Succession and Leadership Transition
Positive
Jun 30, 2026
On June 30, 2026, Innventure announced a leadership transition, naming Dr. Bill Grieco as Chief Executive Officer effective October 1, 2026, following the planned retirement of current CEO Bill Haskell. Haskell, who has led the company for six yea...
Executive/Board ChangesShareholder Meetings
Innventure Stockholders Elect Directors and Ratify Auditor
Neutral
Jun 19, 2026
On June 17, 2026, Innventure held its Annual Meeting of Stockholders, with holders of common stock and Series B and Series C preferred shares representing 53,906,796 aggregate votes present in person or by proxy, constituting a quorum. Shareholder...
Executive/Board ChangesDelistings and Listing ChangesRegulatory Filings and Compliance
Innventure Quickly Restores Nasdaq Audit Committee Compliance
Positive
May 20, 2026
Innventure, Inc. disclosed that after director Daniel Hennessy resigned from its board and audit committee effective April 29, 2026, the company fell out of compliance with Nasdaq Listing Rule 5605(c)(2)(A), which mandates at least three independe...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
Innventure Refreshes Board With New Independent Directors
Positive
Apr 30, 2026
Innventure announced that director Daniel Hennessy resigned from its Board and committee roles, including the Audit Committee, effective April 29, 2026, temporarily leaving the Audit Committee out of compliance with Nasdaq’s requirement for ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.