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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue        
Total Revenue $ 317 $ 274 $ 764 $ 893
Operating Expenses        
Cost of sales 777 0 777 0
General and administrative 9,052 4,054 25,323 9,878
Sales and marketing 1,629 696 4,178 1,901
Research and development 2,533 1,240 5,978 2,822
Total Operating Expenses 13,991 5,990 36,256 14,601
Loss from Operations (13,674) (5,716) (35,492) (13,708)
Non-operating (Expense) and Income        
Interest expense, net (852) (364) (1,300) (841)
Change in fair value of embedded derivative liability 0 (451) (478) (492)
Equity method investment income (loss) 109 (673) 893 (291)
Loss on conversion of promissory notes 0 0 (1,119) 0
Other expenses (64) 0 (64) 0
Total Non-operating (Expense) Income 6,033 (13,200) 9,011 (4,243)
Income tax expense 0 0 0 0
Net Loss (7,641) (18,916) (26,481) (17,951)
Less: Loss attributable to non-controlling interest (5,430) (45) (11,762) (101)
Net Loss Attributable to Innventure LLC Unitholders (2,211) (18,871) (14,719) (17,850)
Net Loss Attributable to Class A Unitholders $ (10,233) $ (9,177) $ (29,010) $ (16,848)
Basic loss per unit (in usd per share) $ (0.94) $ (0.84) $ (2.67) $ (1.55)
Basic weighted average Class A Units (in shares) 10,875,000 10,875,000 10,875,000 10,875,000
Other comprehensive income (loss), net of taxes:        
Unrealized loss on AFS debt securities - related party $ (2,373) $ 0 $ (2,373) $ 0
Total other comprehensive loss, net of taxes (2,373) 0 (2,373) 0
Total comprehensive loss, net of taxes (10,014) (18,916) (28,854) (17,951)
Less: Comprehensive loss attributable to non-controlling interest (5,430) (45) (11,762) (101)
Net Comprehensive Loss Attributable to Innventure LLC Unitholders (4,584) (18,871) (17,092) (17,850)
Management fee income - related parties        
Revenue        
Total Revenue 222 224 669 668
Consulting revenue        
Revenue        
Total Revenue 0 50 0 225
Product sales        
Revenue        
Total Revenue 95 0 95 0
Nonrelated party        
Non-operating (Expense) and Income        
Net (loss) gain on investments 7,148 (12,148) 11,547 (2,718)
Related party        
Non-operating (Expense) and Income        
Net (loss) gain on investments $ (308) $ 436 $ (468) $ 99