Innventure (INV) Q1 2026 earnings summary

Executive summary

• Q1 2026 marked strong commercial momentum and cost discipline, with revenue growth across Accelsius, AeroFlexx, and Refinity, and G&A expenses declining 35% year-over-year.

• Corporate governance was strengthened with new board appointments and public shareholder support.

• The business model was validated by accelerating commercial adoption and improved balance sheet flexibility through capital structure simplification.

• Focus remains on commercializing sustainable technology solutions through subsidiaries.

Financial highlights

• Q1 2026 revenue reached $1.4 million, up from $0.2 million in Q1 2025, driven by higher product and service sales.

• Net loss attributable to stockholders narrowed to $20.8 million, a significant improvement from $143.0 million in Q1 2025.

• Adjusted EBITDA loss improved to $18.4 million from $21.8 million year-over-year.

• G&A expenses fell to $7.8 million from $12.8 million year-over-year.

• Cash and cash equivalents at quarter-end were $55.4 million, down from $60.4 million at year-end 2025.

Outlook and guidance

• Accelsius targets a $100 million annualized revenue run rate and positive operating cash flow by year-end 2026.

• Management expects strong revenue and adjusted EBITDA growth in the second half of 2026 and into 2027.

• Additional bookings and backlog are expected to support growth targets into 2027.

• Management expects at least $50 million in capital needs over the next 12 months, with up to $25 million more if subsidiaries do not raise capital independently.