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Innventure, Inc.(INV) - 2025 Q1 - Quarterly Results
INVInnventure, Inc.(INV)2025-05-15 20:17

Financial Performance - Revenue for the year ended December 31, 2023, was 1,117million,adecreasefrom1,117 million, a decrease from 1,117 million in the previous period[21] - The net loss attributable to Innventure, Inc. stockholders was 62,294millionfortheyearendedDecember31,2023,comparedtoanetlossof62,294 million for the year ended December 31, 2023, compared to a net loss of 16,436 million in the previous period[21] - The company reported a total comprehensive loss of 69,724millionfortheyearendedDecember31,2023,comparedtoacomprehensivelossof69,724 million for the year ended December 31, 2023, compared to a comprehensive loss of 28,136 million in the previous period[21] - The company reported a net loss of 70,633thousandfortheyearendedDecember31,2024,comparedtoanetlossof70,633 thousand for the year ended December 31, 2024, compared to a net loss of 30,984 thousand for the previous year, indicating a significant increase in losses[32] - Basic and diluted loss per share for the year was 1.42,withaweightedaverageof43,951,279commonsharesoutstanding[21]−TheadjustedEBITDAfortheyearendedDecember31,2024was1.42, with a weighted average of 43,951,279 common shares outstanding[21] - The adjusted EBITDA for the year ended December 31, 2024 was (11,670) thousand, compared to (26,156)thousandforthepredecessoryear,showinganimprovementinoperationalperformance[32]AssetsandLiabilities−Innventurereportedtotalassetsof(26,156) thousand for the predecessor year, showing an improvement in operational performance[32] Assets and Liabilities - Innventure reported total assets of 905.3 million as of December 31, 2024, compared to 21.6millioninthepreviousyear[19]−Totalcurrentassetsroseto21.6 million in the previous year[19] - Total current assets rose to 24.3 million from 5.7millionin2023,reflectingsignificantgrowth[19]−Totalliabilitiesincreasedto5.7 million in 2023, reflecting significant growth[19] - Total liabilities increased to 139.5 million from 29.4millioninthepreviousyear[19]−Theaccumulateddeficitgrewto29.4 million in the previous year[19] - The accumulated deficit grew to 78.8 million as of December 31, 2024, compared to 64.3millionin2023[19]−Innventure′stotalstockholders′equityreached64.3 million in 2023[19] - Innventure's total stockholders' equity reached 765.8 million, up from a deficit of 18.5millionin2023[19]CashFlowandFinancing−Cashandcashequivalentsincreasedto18.5 million in 2023[19] Cash Flow and Financing - Cash and cash equivalents increased to 11.1 million from 2.6millionyear−over−year[19]−Cashflowsusedinoperatingactivitiestotaled2.6 million year-over-year[19] - Cash flows used in operating activities totaled 29,214 thousand for the year ended December 31, 2024, compared to 19,476thousandinthepreviousyear,indicatinghighercashoutflows[30]−Thecompanygenerated19,476 thousand in the previous year, indicating higher cash outflows[30] - The company generated 33,466 thousand in cash flows from financing activities for the year ended December 31, 2024, compared to 19,174thousandinthepreviousyear,reflectingincreasedcapitalraisingefforts[30]−Thecompanyhadanetcashincreaseof19,174 thousand in the previous year, reflecting increased capital raising efforts[30] - The company had a net cash increase of 11,074 thousand for the year ended December 31, 2024, compared to a decrease of 4,969thousandinthepreviousyear,indicatingimprovedliquidity[30]−Cashpaidforinterestwas4,969 thousand in the previous year, indicating improved liquidity[30] - Cash paid for interest was 991 thousand for the year ended December 31, 2024, compared to 297thousandinthepreviousyear,indicatinghigherborrowingcosts[30]OperatingExpenses−Totaloperatingexpensesincreasedto297 thousand in the previous year, indicating higher borrowing costs[30] Operating Expenses - Total operating expenses increased to 40,753 million from 37,541million,primarilydrivenbyhighergeneralandadministrativeexpensesof37,541 million, primarily driven by higher general and administrative expenses of 29,652 million compared to 26,608million[21]−Researchanddevelopmentexpenseswere26,608 million[21] - Research and development expenses were 5,340 million, slightly down from 5,978millioninthepreviousperiod[21]−Thecompanyexperiencedasignificantincreaseininterestexpense,netting5,978 million in the previous period[21] - The company experienced a significant increase in interest expense, netting 1,132 million compared to 1,300millioninthepreviousperiod[21]−Thetotalnon−operatingexpensewas1,300 million in the previous period[21] - The total non-operating expense was 33,078 million, a stark contrast to the non-operating income of 9,011millioninthepreviousperiod[21]StrategicInitiatives−Thecompanylauncheditsfourthoperatingcompany,Refinity,inDecember2024,aimedatconvertingmixedplasticwastestopetrochemicalfeedstocks[1]−AccelsiusandAeroFlexxbegangeneratingrevenue,withexpectationsforgrowthin2025[1]−Thecompanyplanstoexpanditsmarketpresenceandinvestinnewproductdevelopment,althoughspecificfigureswerenotdisclosedduringthecall[21]−Thecompanyisexploringpotentialmergersandacquisitionstoenhanceitsgrowthstrategymovingforward[21]−Thecompanyemphasizestheimportanceofnon−GAAPfinancialmeasureslikeAdjustedEBITDAforassessingoperationalperformance[6]TaxandFinancialInstruments−Thecompanyreportedaprovisionforincometaxesof9,011 million in the previous period[21] Strategic Initiatives - The company launched its fourth operating company, Refinity, in December 2024, aimed at converting mixed plastic wastes to petrochemical feedstocks[1] - Accelsius and AeroFlexx began generating revenue, with expectations for growth in 2025[1] - The company plans to expand its market presence and invest in new product development, although specific figures were not disclosed during the call[21] - The company is exploring potential mergers and acquisitions to enhance its growth strategy moving forward[21] - The company emphasizes the importance of non-GAAP financial measures like Adjusted EBITDA for assessing operational performance[6] Tax and Financial Instruments - The company reported a provision for income taxes of 2,742 thousand for the year ended December 31, 2024, compared to no tax provision in the previous year, reflecting changes in tax obligations[32] - The company reported a change in fair value of financial liabilities of 20,946thousandfortheyearendedDecember31,2024,comparedtoalossof20,946 thousand for the year ended December 31, 2024, compared to a loss of 766 thousand in the previous year, highlighting volatility in financial instruments[32] - Stock-based compensation expenses amounted to 16,338thousandfortheyearendedDecember31,2024,upfrom16,338 thousand for the year ended December 31, 2024, up from 910 thousand in the previous year, reflecting increased employee incentives[32]