v3.25.3
Condensed Consolidated Balance Sheets (Q2) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Assets      
Cash and cash equivalents $ 6,965 $ 11,119  
Accounts receivable, net 901 283 $ 0
Due from related parties 4,188 4,536 2,602
Inventories, net 6,620 5,178 0
Prepaid expenses and other current assets 2,455 3,170 487
Total Current Assets 21,129 24,286 5,664
Restricted cash 5,000 0  
Investments 32,424 28,734 14,167
Property, plant and equipment, net 1,972 1,414 637
Intangible assets, net 171,345 182,153 0
Goodwill 323,463 667,936 0
Other assets 652 766 1,096
Total Assets 555,985 905,289 21,564
Liabilities and Stockholders' Deficit      
Accounts payable 3,710 3,248  
Accrued employee benefits 10,603 9,273 3,779
Accrued expenses 2,594 2,478 1,009
Contract liabilities 690 0  
Embedded derivative liability 1,796 0  
Patent installment payable - current 700 1,225 775
Obligation to issue equity 52 4,158 0
Warrant liability 22,996 34,023 0
Income taxes payable 292 0  
Related party convertible promissory notes - current 1,002 0  
Other current liabilities 380 317 253
Total Current Liabilities 72,317 69,347 8,168
Notes payable, net of current portion 11,304 13,654 999
Earnout liability 4,370 14,752 0
Stock-based compensation liability 474 1,160 0
Patent installment payable, net of current portion 12,375 12,375 13,075
Deferred income taxes 23,458 27,353 0
Other liabilities 176 355 683
Total Liabilities 129,925 138,996 29,420
Commitments and Contingencies (Note 16)
Stockholders' Equity      
Preferred stock, $0.0001 par value, 25,000,000 shares authorized;   0  
Common Stock, $0.0001 par value, 250,000,000 shares authorized, 55,221,494 and 44,597,154 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 6 4  
Additional paid-in capital 525,346 502,865 0
Accumulated other comprehensive (loss) gain (1,289) 909 0
Accumulated deficit (305,512) (78,262) (64,284)
Total Innventure, Inc., Stockholders' Equity/ Innventure LLC Unitholders' Deficit 218,551 425,516 (20,045)
Non-controlling interest 207,509 340,777 1,559
Total Stockholders' Equity/ Unitholders' Deficit 426,060 766,293 (18,486)
Total Liabilities, Mezzanine Capital and Equity 555,985 905,289 21,564
Series B Preferred Stock      
Liabilities and Stockholders' Deficit      
Obligation to issue equity 20 217  
Stockholders' Equity      
Preferred stock, $0.0001 par value, 25,000,000 shares authorized; 0 0  
Series C Preferred Stock      
Liabilities and Stockholders' Deficit      
Obligation to issue equity 32    
Stockholders' Equity      
Preferred stock, $0.0001 par value, 25,000,000 shares authorized; 0 0  
Related party      
Liabilities and Stockholders' Deficit      
Accounts payable   0 347
Notes payable - current 0 14,000 1,000
Convertible notes, net of current portion 3,000 0 3,381
Nonrelated party      
Liabilities and Stockholders' Deficit      
Accounts payable   3,248 93
Notes payable - current 27,502 625 912
Convertible notes, net of current portion $ 2,451 $ 0 $ 1,120