Company: INV
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001628280-25-017614
Chunk: 202

Company: Innventure, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 8
Chunk 202
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or year ended December 31, 2023, as the amounts were probable of significant reversal given the consideration is highly susceptible to factors outside the Company's influence. Cumulative carried interest allocation amounts that are subject to restraint and as such are not yet recognized were $11,282 and $5,880 as of December 31, 2024 and 2023, respectively. The Company also provides management services to AeroFlexx, which do not have a carried interest feature. The following table represents the breakout of revenue by source:SuccessorPredecessorOctober 2, 2024 through December 31, 2024January 1, 2024 through October 1, 2024Year ended December 31, 2023Product revenue$233 $95 $— Management fees - related party223 669 892 Consulting revenue— — 225 Total revenue$456 $764 $1,117 The following table represents major customer concentration of revenue:  SuccessorPredecessorOctober 2, 2024 through December 31, 2024January 1, 2024 through October 1, 2024Year ended December 31, 2023Customer A - Related Party43.0 %77.0 %70.7 %Customer B - Related Party5.9 %10.6 %9.2 %Customer C— %— %20.1 %Customer D— %12.4 %— %Customer E48.9 %— %— %Total Revenue Concentration of Major Customers97.8 %100.0 %100.0 %

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Table of ContentsInnventure, Inc. and SubsidiariesNotes to Consolidated Financial Statements(in thousands, except share or per share data)

Note 16. Income TaxesThe 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