Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 221

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 221
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     | January 1, 2024through October1, 2024 |     | Year endedDecember 31,2023 |
| Customer A - Related Party............................................................          | 43.0%                                  |     | 77.0%                                 |     | 70.7%                      |
| Customer B - Related Party............................................................          | 5.9%                                   |     | 10.6%                                 |     | 9.2%                       |
| Customer C..................................................................................... | —%                                     |     | —%                                    |     | 20.1%                      |
| Customer D....................................................................................  | —%                                     |     | 12.4%                                 |     | —%                         |
| Customer E..................................................................................... | 48.9%                                  |     | —%                                    |     | —%                         |
| Total Revenue Concentration of Major Customers.................                                 | 97.8%                                  |     | 100.0%                                |     | 100.0%                     |

F-44 Innventure, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except share or per share data)

Note 16. Income Taxes

The Company is subject to federal and state income taxes with respect to any income or loss generated as well

as the allocable share of any taxable income or loss of Innventure LLC and other partnership subsidiaries. The

partnership subsidiaries within the consolidated group generally do not pay income taxes in most jurisdictions.

Instead, taxable income or loss of the partnership subsidiaries is passed through to its members, including the

Company. The partnership subsidiaries are liable for income taxes in those states not recognizing its pass-through

status and for certain of its subsidiaries not taxed as pass-through entities. Through Innventure LLC, the Company

acquired ownership interest in various domestic entities taxed as corporations. Where required or allowed, the

corporation subsidiaries file and pay tax in a standalone basis for federal and state income tax purposes. The

Company anticipates this structure to remain in existence for the foreseeable future.

The provision for income taxes was as follows:

|                                                                                                      |                              Successor |     |                           Predecessor |     |                            |
|                                                                                                      | October 2, 2024throughDecember 31,2024 |     | January 1, 2024through October1, 2024 |     | Year endedDecember 31,2023 |
| Current Expense:........................................................................             |