Innventure, Inc.
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Range $5 – $5
Price Chart
About the company
Innventure, Inc. identifies, funds, and operates companies with a focus on sustainable technology solutions acquired or licensed from multinational corporations. Innventure, Inc.
- CEO
- Gregory William Haskell
- IPO
- 2021
- Employees
- 169
- HQ
- Orlando, FL, US
AI snapshot
Six angles, distilled from the data.
The stock remains in a deep downtrend, sitting far below its 200-day average after a sharp multi-month reset from the 52-week high. The tape still reflects a speculative, high-volatility name, with the current price clustered near the yearly low rather than any sustained recovery base.
Street sentiment is constructive but cautious: the consensus target sits at $5.50, above the current share price, with one Buy on record. Recent target cuts from $13 to $8 and then $5 show expectations have been reset materially lower, even as the setup still leaves room for upside if execution improves.
The next print is set against a mixed beat history, with 4 beats in the last 7 quarters but a miss in the most recent reported quarter. Estimates still point to another loss, with 2026 EPS at -1.04 and 2027 at -0.89, so shareholders should watch revenue traction and loss narrowing more than headline EPS.
Insider tone is supportive, led by clear discretionary buying from directors and executives in August, including sizable purchases by the Executive Chairman, CEO, and two directors. The later September activity is mostly award and other non-discretionary flows, which are less informative than the earlier open-market buying.
Profitability remains weak, with ROE at -31.5% and operating margin at -33.0%. Revenue growth is strong at 100.2% year over year, but cash burn is still heavy: operating cash flow was -$80.7 million and free cash flow was -$79.3 million for 2025.
INV screens like a small, early-stage asset manager with a 0.33 beta and a balance sheet that is still net cash at $27.1 million. Versus the sector, the valuation is hard to anchor on earnings because profits are negative, so the market is paying for execution and growth optionality rather than current fundamentals.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $44.21M
- P/E
- -0.29
- PEG
- -0.00
- P/S
- 11.78
- P/B
- 0.22
- EV/EBITDA
- -0.22
- Div Yield
- 0.00%
- Gross Margin
- -595.92%
- Op Margin
- -3190.62%
- Net Margin
- -3019.99%
- ROE
- -54.53%
- ROIC
- -19.32%
Latest fiscal year · YoY change
- Revenue
- $2.06M+68.5%
- Gross Profit
- $-39,280,000-1087.1%
- Op Income
- $-118,142,000
- Net Income
- $-293,317,000-275.1%
- EPS
- $-5.39-208.0%
- OCF Growth
- -67.9%
- FCF Growth
- -67.3%
- 52W High
- $7.86
- 52W Low
- $0.45
- 50D MA
- $1.67
- 200D MA
- $3.89
- Beta
- 0.42
- RSI (14)
- 29
- Avg Volume
- 5.22M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Innventure said Accelsius’s two-phase cooling opportunity remains intact, but market constraints have pushed breakeven and revenue targets out and led the company to suspend guidance.· August 13, 2026
- Consolidated Q2 revenue was $1 million, up from $0.5 million a year ago but down from $1.4 million in Q1; Accelsius supplied $0.9 million, or 96%, of total revenue.
- Net loss widened to $34.9 million and adjusted EBITDA loss was $22.6 million; G&A expense fell 22% year over year to $14.5 million.
- Management said Accelsius is no longer expected to reach cash-flow breakeven this year, and Innventure suspended revenue targets until adoption constraints ease or key milestones are reached.
- The company removed the DarkNX project from its 2026 forecast after the identified site became unavailable, though management still expects the order to transfer to a new site eventually.
- AeroFlexx’s commercial pipeline grew to close to $35 million, up 9% sequentially, and Refinity’s 10-kiloton demo plant engineering design remains on track for delivery by year-end.
Consolidated revenue in Q2 2026 was $1 million, versus $0.5 million in Q2 2025 and $1.4 million in Q1 2026. Accelsius contributed $0.9 million, or 96% of revenue. Net loss was $34.9 million, compared with $27.8 million in Q1. Adjusted EBITDA was a loss of $22.6 million versus $18.4 million in Q1. G&A expense was $14.5 million, down 22% versus Q2 2025. Cash and restricted cash ended at $46.5 million, versus $60.4 million at the end of Q1. Management said it had previously expected Accelsius to exit 2026 near cash-flow breakeven at about a $100 million annualized revenue run rate, but now expects breakeven to extend beyond this year. It also said it is suspending revenue targets, removing DarkNX from the 2026 forecast, and no longer targeting consolidated positive cash flow for Innventure in 2028.
Bill Haskell framed the quarter around a major strategic shift in how Innventure communicates progress, putting more emphasis on milestones than quarterly revenue targets. He said the market debate has moved from whether two-phase cooling will be adopted to when, and argued that the same constraints hurting smaller early adopters are improving the long-term case for Accelsius. He also highlighted a planned leadership transition, describing Bill Grieco as well positioned to run the company and saying he is more bullish than ever on Accelsius and two-phase cooling.
Dave Yablunosky focused on the financial impact of slower-than-expected adoption at Accelsius. He cited $1 million in consolidated revenue, a $34.9 million net loss, a $22.6 million adjusted EBITDA loss, and $46.5 million of cash and restricted cash at quarter-end. He said the company raised about $13 million via standby equity draws at an average price of $6.21, fully repaid convertible debentures earlier this year, and now expects Accelsius breakeven timing to extend beyond 2026 because GPU access, power availability, and site allocation remain constrained for smaller customers. He also said Innventure will aim to fund AeroFlexx and Refinity increasingly at the operating-company level and raise capital thoughtfully to reduce dilution.
Analysts focused on the DarkNX order, the path from hyperscaler discussions to deployment, and whether 2027 remains a realistic commercialization year for Accelsius. Management said the DarkNX order should transfer to a new site, but timing is uncertain because the original site was lost due to power-envelope issues. On hyperscalers, John Hewitt said conversations are active, but a typical path from statement of work to proof of concept to deployment can take two to three years, so it is too early to give specific 2027 revenue visibility. Management also said the new technical validation was completed around the end of July, and clarified that the Jacobs study was a separate, earlier data-center-level analysis rather than the third-party integrator test.
Management said the technical case for two-phase cooling has strengthened, pointing to an independent test showing Accelsius’s system ran GPUs 9 to 14 degrees Celsius cooler and used about one-third of the coolant flow at the chip. They also said the industry is moving toward warmer-water, higher-efficiency designs, with active proof-of-concepts at several hyperscalers and growing interest from chip makers, OEMs, ODMs, and large customers that could eventually drive much larger deployments.
The main risk is that early-adopter customers lack the GPU allocations, power access, and site availability needed to deploy, which makes bookings and revenue lumpy and unpredictable. Management explicitly suspended revenue targets, pushed breakeven beyond this year, and removed DarkNX from the 2026 forecast pending a new site. They also said they no longer expect consolidated positive cash flow in 2028, implying a longer capital and execution runway than previously expected.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 86.4%
- Shares Outstanding
- 80.07M
- Float Shares
- 69.20M
of shares held by institutions
114 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 3.75M | ▲ 649.79K |
| Pnc Financial Services Group, Inc. | 3.42M | ▲ 344.73K |
| Driehaus Capital Management LLC | 2.99M | ▲ 2.99M |
| Vanguard Capital Management LLC | 2.81M | ▲ 228.96K |
| Ubs Group AG | 2.76M | ▲ 2.30M |
| Vanguard Group Inc | 1.73M | ▲ 204.91K |
| Abundance Wealth Counselors | 1.57M | ▲ 783.35K |
| Geode Capital Management, LLC | 1.40M | ▲ 191.12K |
| Stifel Financial Corp | 1.19M | ▲ 344.86K |
| State Street Corp | 1.17M | ▲ 202.16K |
| Point72 Asset Management, L.P. | 1.14M | ▼ 117.12K |
| Centerbook Partners LP | 978.74K | ▲ 130.03K |
Held by 89 ETFs
Biggest fund positions in INV by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 30, 26 | Brown Bruce | other | 56,541 |
| Sep 30, 26 | Williams Elizabeth Suzanne | other | 21,930 |
| Oct 1, 26 | Grieco William J. | other | 2,040,816 |
| Sep 30, 26 | Donnally James O | other | 45,862 |
| Sep 30, 26 | Donnally James O | other | 45,862 |
| Sep 30, 26 | Donnally James O | other | 45,862 |
| Sep 28, 26 | Madon Michael P | other | 124,837 |
| Sep 28, 26 | Madon Michael P | other | 0 |
| Sep 15, 26 | Grieco William J. | other | 8,103 |
| Sep 8, 26 | Otworth Michael | other | 154,829 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our INV coverage
Recent articles, reports, and earnings notes.
Want a deeper read on INV?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
AeroFlexx Partners with ZXP Technologies for Industrial Liquid Applications
globenewswire.com · Oct 6
SHAREHOLDER ALERT Bernstein Liebhard LLP Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Innventure, Inc. (INV)
globenewswire.com · Oct 6
Inventure, Inc. Deadline: Rosen Law Firm Reminds Innventure, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - INV
newsfilecorp.com · Oct 5
INV DEADLINE: ROSEN, LEADING INVESTOR COUNSEL, Encourages Innventure, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - INV
globenewswire.com · Oct 5
Innventure (INV) Faces Securities Fraud Class Action Amid Questions Over DarkNX Project Bookings Removal, Stock Drops - Hagens Berman
newsfilecorp.com · Oct 5
Kaplan Fox Class Action Reminder: Innventure, Inc. (INV) Lead Plaintiff Deadline is October 27, 2026
newsfilecorp.com · Oct 5
INNVENTURE, INC. (INV) CLASS ACTION NOTICE: Berger Montague Encourages Investors With Substantial Losses to Contact the Firm By October 27, 2026
newsfilecorp.com · Oct 5
INV SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Reminds Innventure (INV) Investors of Securities Class Action Lawsuit Deadline on October 27, 2026
newsfilecorp.com · Oct 5
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed September 30, 2026 · Live quote · Not investment advice
