The balance sheet appears highly unstable, with goodwill representing a significant portion of the $591.5M in total assets as of 2026Q1, while retained earnings have plummeted to -$392.4M.
| Total Current Assets | 81.82M | 83.15M | 24.29M | 5.66M | 7.82M | 945.06K |
| Cash & Short-Term Investments | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 24.05M | 20.01M | 4.54M | 2.6M | 14K | 0 |
| Total Non-Current Assets | 509.66M | 516.03M | 881M | 15.9M | 20.16M | 232.87M |
| Property, Plant & Equipment | 2.3M | 1.94M | 1.41M | 637K | 0 | 0 |
| Fixed Asset Turnover | 1.56x | 1.06x | 0.86x | 1.75x | - | - |
| Goodwill | 323.46M | 323.46M | 667.94M | 0 | 0 | 0 |
| Intangible Assets | 155.13M | 160.54M | 182.15M | 0 | 0 | 0 |
| Long-Term Investments | 119.85M | 28.74M | 28.73M | 14.17M | 19.82M | 232.3M |
| Other Non-Current Assets | - | - | - | - | - | - |
| Total Assets | 591.48M | 599.19M | 905.29M | 21.56M | 27.98M | 233.81M |
| Asset Turnover | 0.01x | 0.00x | 0.00x | 0.05x | 0.03x | 0.01x |
| Asset Growth % | 2470.75% | -33.81% | 4098.15% | -22.93% | -88.03% | - |
| Total Current Liabilities | 59.85M | 76.28M | 69.35M | 8.17M | 4.32M | 470.37K |
| Accounts Payable | 3M | 2.55M | 3.25M | 93K | 84K | 0 |
| Days Payables Outstanding | - | - | - | - | - | - |
| Short-Term Debt | 0 | 25.07M | 14.63M | 1.91M | 2.45M | 0 |
| Deferred Revenue (Current) | 0 | - | - | - | - | - |
| Other Current Liabilities | 56.85M | 47.94M | 39.72M | 1.37M | 896K | 470.37K |
| Current Ratio | 1.37x | 1.09x | 0.35x | 0.69x | 1.81x | 2.01x |
| Quick Ratio | 1.37x | 1.09x | 0.35x | 0.69x | 1.81x | 2.01x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 33.49M | 39.23M | 69.65M | 31.88M | 34.85M | 19.32M |
| Long-Term Debt | 6.94M | 8.33M | 13.65M | 5.5M | 3.45M | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - |
| Total Liabilities | 93.33M | 115.51M | 139M | 40.05M | 39.17M | 19.79M |
| Total Debt | 6.94M | 33.39M | 28.28M | 7.41M | 5.9M | 0 |
| Net Debt | -48.43M | -27.05M | 17.16M | 4.84M | -1.65M | -237.36K |
| Debt / Equity | 0.01x | 0.07x | 0.04x | - | - | - |
| Debt / EBITDA | -0.03x | - | - | - | - | - |
| Net Debt / EBITDA | 0.23x | - | - | - | - | -0.03x |
| Interest Coverage | -35.37x | -49.51x | -40.59x | -24.31x | -35.84x | 5.87x |
| Total Equity | 498.15M | 483.68M | 766.29M | -18.49M | -11.19M | 214.03M |
| Equity Growth % | 5616.45% | -36.88% | 4245.26% | -65.16% | -105.23% | - |
| Book Value per Share | 9.15 | 8.89 | 17.18 | -0.43 | -0.26 | 5.01 |
| Total Shareholders' Equity | 223.44M | 204.21M | 425.52M | -20.05M | -11.85M | 214.03M |
| Common Stock | 8K | 7K | 4K | 2.79M | 2.59M | 232.3M |
| Retained Earnings | -392.41M | -371.6M | -78.26M | -64.28M | -38.56M | -18.27M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.17M | -1.26M | 909K | 0 | 0 | 0 |
| Minority Interest | 274.7M | 279.46M | 340.78M | 1.56M | 656K | 0 |
Commercialization and scaling failure
As reported in recent financial filings, Innventure's total assets have fluctuated significantly from $32.4M in 2024Q2 to a peak of $905.3M in 2024Q4, signaling a highly unstable balance sheet trajectory driven by aggressive consolidation of early-stage ventures rather than organic growth in core operational value.
The dramatic swings in asset composition suggest that the company's financial position is heavily dependent on the timing of subsidiary acquisitions and subsequent valuation adjustments. Investors should monitor whether this volatility stabilizes as the firm moves past its initial venture-building phase or if it remains a permanent feature of the business model.
Based on the company's quarterly data, the current ratio has remained consistently low, reaching a nadir of 0.08 in 2024Q1 and only recovering to 1.37 by 2026Q1, which indicates a persistent struggle to maintain adequate short-term liquidity to cover ongoing operational obligations and subsidiary funding requirements.
The reliance on periodic capital injections to maintain a positive cash balance suggests that the firm lacks a self-sustaining liquidity profile. This thin buffer leaves the company vulnerable to operational delays or unexpected capital calls from its portfolio companies, potentially necessitating further dilutive financing.
According to financial statements, goodwill has become a massive component of the asset base, peaking at $667.9M in 2024Q4, which implies that the company's valuation is heavily anchored to intangible expectations of future success rather than tangible, income-generating industrial assets or physical infrastructure.
The concentration of value in goodwill warrants further investigation, as it suggests that the company's asset quality is highly sensitive to impairment risks if the underlying subsidiaries fail to meet commercialization milestones. The minimal PPE of $2.3M further underscores that this is an intellectual-property-heavy model with little physical collateral to support its valuation.
As indicated by the reported figures, retained earnings have plummeted to -$392.4M by 2026Q1, demonstrating that the company's equity base has been severely eroded by the cumulative losses of its consolidated subsidiaries, which may limit the firm's future capacity to absorb additional financial shocks.
The negative equity trend suggests that the company is effectively operating on the capital provided by external investors rather than internally generated value. This erosion of equity highlights the significant risk that the current business model may require continuous capital infusions to remain solvent until a major liquidity event occurs.
Quick answers to the most common questions about buying INV stock.
As of 2025, Innventure, Inc. (INV) had total assets of $599.2M including $83.2M in current assets.
Innventure, Inc. (INV) carries total debt of $33.4M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Innventure, Inc. (INV) has total shareholders' equity (book value) of $204.2M ($8.89 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Innventure, Inc. (INV) reported a current ratio of 1.09x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.