Innventure (INV)
NASDAQ:INV
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Innventure
(NASDAQ:INV)
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Rating:50Neutral
Price Target:
$5.50
▲(19.57% Upside)
Action:Reiterated
Date:05/30/26
The score is held down primarily by persistent operating losses and significant negative operating/free cash flow despite strong revenue growth and a low-debt balance sheet. Technicals are mixed and do not provide strong confirmation. Offsetting factors include constructive earnings-call guidance and tangible commercial progress (bookings, pipelines, product momentum), plus favorable governance updates.
Positive Factors
Commercial traction & bookings
Sustained, large bookings demonstrate durable product-market fit for Accelsius and other subsidiaries. A $50M+ bookings quarter supports future revenue conversion, validates sales channels, and provides a tangible pipeline that can underpin multi‑quarter growth and reduce the need for continual corporate-level funding.
Negative Factors
High cash burn and negative operating cash flow
Sustained negative OCF/FCF at this magnitude requires ongoing external funding and creates runway risk. Continued cash consumption constrains the pace of commercialization, forces prioritization among subsidiaries, and elevates execution risk if capital markets tighten or subsidiary milestones slip.
Read all positive and negative factors
Positive Factors
Negative Factors
Commercial traction & bookings
Sustained, large bookings demonstrate durable product-market fit for Accelsius and other subsidiaries. A $50M+ bookings quarter supports future revenue conversion, validates sales channels, and provides a tangible pipeline that can underpin multi‑quarter growth and reduce the need for continual corporate-level funding.
Read all positive factors
Innventure (INV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$447.96M
Dividend YieldN/A
Average Volume (3M)1.30M
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue Growth126.80%
EPS Growth40.08%
CountryUS
Employees153
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-3.05
Shares Outstanding84,044,750
10 Day Avg. Volume1,548,230
30 Day Avg. Volume1,302,837
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 Cap0.63
Enterprise Value/Revenue85.78
Enterprise Value/Gross Profit-13.62
Enterprise Value/Ebitda-1.19
Forecast
1Y Price Target
$13.00Price Target Upside182.61% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-1.17
Revenue Forecast (FY)$39.32M
Innventure Business Overview & Revenue Model
Company Description
Innventure, Inc. operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. The company was founded in 2015 and is based in Orlando, Florida....
How the Company Makes Money
null...
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 | -235.96M | -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 | 6.94M | 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 Technical Analysis
Neutral
4.60
Price Trends
5.56
Negative
4.48
Positive
4.54
Positive
Market Momentum
0.08
Positive
40.90
Neutral
18.10
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INV, the sentiment is Neutral. The current price of 4.6 is below the 20-day moving average (MA) of 6.48, below the 50-day MA of 5.56, and above the 200-day MA of 4.54, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 40.90 is Neutral, neither overbought nor oversold. The STOCH value of 18.10 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for INV.
Innventure Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $361.85M | 1.72 | 80.64% | 5.39% | ― | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | $400.56M | 6.70 | 17.20% | 6.55% | 20.30% | 19.12% | |
55 Neutral | $337.66M | -10.57 | -0.03% | 14.10% | -14.06% | -306.26% | |
53 Neutral | $259.66M | 10.95 | ― | 12.83% | 6.21% | -42.00% | |
50 Neutral | $447.96M | -1.70 | -81.74% | ― | 126.80% | 40.08% | |
49 Neutral | $224.11M | 5.23 | 12.12% | 17.28% | 18.91% | 14.29% |
* Financial Sector Average
INV
Innventure
5.33
-0.17
-3.09%
NEWT
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13.88
3.87
38.66%
SSSS
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13.88
7.92
132.81%
SCM
Stellus Capital
8.97
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-22.44%
TPVG
TriplePoint Venture Growth
5.52
-0.34
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PSBD
Palmer Square Capital BDC Inc.
10.85
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-10.54%
Innventure Corporate Events
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 ...
Business Operations and StrategyRegulatory Filings and Compliance
Innventure Hosts CEO Call to Enhance Investor Transparency
Positive
Apr 27, 2026
Innventure held an operating company CEO conference call on April 27, 2026, featuring the leaders of its subsidiaries Accelsius Holdings, AeroFlexx and Refinity Olefins, with a replay and accompanying presentation made available on its investor re...
Business Operations and StrategyProduct-Related Announcements
Innventure’s Accelsius Launches NeuCool IR150 Data Center Cooling
Positive
Apr 21, 2026
On April 20, 2026, Accelsius announced the general availability of its NeuCool IR150, a fully integrated, 800mm-wide rack-level cooling system delivering up to 150kW that combines a two-phase coolant distribution unit, IT rack space, and built-in ...
Business Operations and Strategy
Innventure to Host Portfolio CEO Call Highlighting Progress
Positive
Apr 15, 2026
Innventure, Inc., an industrial growth conglomerate listed on Nasdaq as INV, specializes in launching and scaling industrial enterprises built around breakthrough technologies, seeking to create billion‑dollar businesses by marrying early...
Business Operations and StrategyRegulatory Filings and Compliance
Innventure Files Shelf Registration to Streamline Stock Resales
Neutral
Mar 19, 2026
On March 18, 2026, Innventure, Inc. filed a shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission to register the resale of its common stock by certain existing stockholders. The move consolidates three earlier ...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
Innventure Units Reach Key Milestones, Strengthen Financial Outlook
Positive
Mar 4, 2026
On March 4, 2026, Innventure reported that its operating companies Accelsius, AeroFlexx, and Refinity have reached key commercial and technical milestones, underpinning more than $50 million in first-quarter 2026 bookings and validating its create...
Regulatory Filings and Compliance
Innventure Executives Settle RSUs with Tax Share Withholding
Neutral
Mar 3, 2026
On February 26, 2026, Innventure, Inc. settled vested restricted stock units granted to executive officers Michael Otworth and John Scott, and on March 2, 2026, both reported that the company had withheld a portion of the resulting common shares t...
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.