Company: INV
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052035
Chunk: 43

Company: Innventure, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 43
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5 Notes are subordinate to the WTI Facility, Convertible Debentures, Term Convertible Notes and indebtedness of Accelsius owed to Innventure LLC and for as long as any portion of these senior debts remains outstanding, the lenders will not demand payment related to this August 2025 Notes, unless they convert the debt into equity.The interest expense on the August 2025 Notes was $37 for the three and nine months ended September 30, 2025 (Successor).

Note 6. Inventories, netSeptember 30, 2025December 31, 2024Raw materials$3,490 $2,974 Work in process4 50 Finished goods2,910 2,154 Total inventories$6,404 $5,178 

Note 7. Property, Plant and EquipmentSeptember 30, 2025December 31, 2024Leasehold improvements$944 $548 Machinery & equipment1,905 664 Computers & office equipment14 14 Construction in progress— 266 Property, plant and equipment, gross 2,863 1,492 Less: Accumulated depreciation(687)(78)Property, plant and equipment, net $2,176 $1,414 

Note 8. Goodwill and Intangible AssetsGoodwillBalance as of December 31, 2024$667,936 Impairment(346,557)Other2,084 Balance as of September 30, 2025$323,463 In addition to annual impairment testing of goodwill, which is performed in the fourth quarter of each fiscal year, the Company continuously monitors for events and circumstances that could negatively impact the key assumptions used in determining fair value and therefore would require interim impairment testing, including long-term revenue growth projections, profitability, discount rates, volatility in the Company's market capitalization and general industry, market and macroeconomic conditions. During the nine months ended September 30, 2025 (Successor), the Company recorded $346,557 in non-deductible, non-cash goodwill impairment charges, within the condensed consolidated statements of operations and comprehensive income (loss) due to sustained decreases in the Company’s publicly quoted share price and market capitalization, which were, at least in part, sensitive to the general downward volatility experienced in the stock market in late February 2025 through April 2025. 

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Table of ContentsInnventure, Inc. and Subs