Company: INV
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001628280-25-017614
Chunk: 147

Company: Innventure, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 8
Chunk 147
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 due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.  We believe that our audits provide a reasonable basis for our opinion.

/s/ BDO USA, P.C.

We have served as the Company's auditor since 2022.

Raleigh, North Carolina

April 14, 2025

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Table of ContentsInnventure, Inc. and SubsidiariesConsolidated Balance Sheets(in thousands, except share and per share amounts)

SuccessorPredecessorDecember 31, 2024December 31, 2023AssetsCash, cash equivalents and restricted cash$11,119 $2,575 Accounts receivable283 — Due from related parties4,536 2,602 Inventories5,178 — Prepaid expenses and other current assets3,170 487 Total Current Assets  24,286 5,664 Investments28,734 14,167 Property, plant and equipment, net1,414 637 Intangible assets, net182,153 — Goodwill667,936 — Other assets766 1,096 Total Assets  $905,289 $21,564 Liabilities and Stockholders' DeficitAccounts payable$3,248 $93 Accrued employee benefits9,273 3,779 Accrued expenses2,478 1,009 Related party payables— 347 Related party notes payable - current14,000 1,000 Notes payable - current625 912 Patent installment payable - current1,225 775 Obligation to issue equity4,158 — Warrant liability34,023 — Other current liabilities317 253 Total Current Liabilities 69,347 8,168 Notes payable, net of current portion13,654 999 Convertible promissory note, net— 1,120 Convertible promissory note due to related party, net— 3,381 Embedded derivative liability— 1,994 Earnout liability14,752 — Stock-based compensation liability1,160 — Patent installment payable, net of current12,375 13,