Company: INV
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052035
Chunk: 75

Company: Innventure, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 75
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. We provide Adjusted EBITDA as supplemental information to enhance the overall understanding of our financial performance.

The following table provides a reconciliation from Net Loss to EBITDA and Adjusted EBITDA for the specified periods:

Three months endedNine months endedSeptember 30, 2025(Successor)September 30, 2024(Predecessor)September 30, 2025(Successor)September 30, 2024(Predecessor)Net loss$(34,735)$(7,641)$(429,684)$(26,481)Interest expense, net(1)3,401 852 7,586 1,300 Depreciation and amortization expense5,639 77 16,821 146 Income tax benefit(3,603)— (7,222)— EBITDA(29,298)(6,712)(412,499)(25,035)Transaction and other related costs(2)— 3,373 — 9,414 Change in fair value of financial liabilities(3)4,109 — (19,496)478 Stock-based compensation(4)7,725 367 22,972 1,056 Goodwill impairment(5)— — 346,557 — Loss on extinguishment of debt(6)— — 3,462 — Loss on extinguishment of related party debt(7)— — 3,538 — Loss on conversion of promissory notes— — — 1,119 Adjusted EBITDA$(17,464)$(2,972)$(55,466)$(12,968)

(1) Interest Expense, net, includes interest incurred on our various borrowing facilities and the amortization of debt issuance costs. 

(2) Transaction and other related costs – For the three and nine months ended September 30, 2024 (Predecessor), this is comprised of consulting, legal, and other professional fees related to the Business Combination.

(3) Change in fair value of financial liabilities – For the three and nine months ended September 30, 2025 (Successor), the change in fair value of financial liabilities primarily consists of the change in fair value of the warrant liability, the earnout liability and the embedded derivatives in various instruments. For the three and nine months ended September 30, 2024 (Predecessor), this is comprised entirely of the change in