Q2 2026 Innventure Inc Earnings Call Transcript
Key Points
- Innventure Inc (INV) reported a 100% year-over-year increase in consolidated revenue for Q2 2026, reaching $1 million.
- AeroFlexx's commercial pipeline grew 9% quarter-over-quarter to nearly $35 million, with new partnerships in Latin America and Europe.
- Accelsius published a major third-party validation showing its NeuCool system runs GPUs 9-14°C cooler than single-phase, using a third of the coolant flow.
- Accelsius is now focusing on hyperscalers, chip makers, and server OEMs, with active proof-of-concepts and deep evaluation cycles with several key industry leaders.
- The company raised approximately $13 million through its standby equity purchase agreement at an average price of $6.21, strengthening its balance sheet.
- Innventure Inc (INV) reduced general and administrative expenses by 22% year-over-year in Q2 2026.
- The company is pursuing a strategy to finance AeroFlexx and Refinity at the operating company level, minimizing dilution for Innventure shareholders.
- Innventure Inc (INV) suspended its revenue targets for Accelsius due to market constraints, including power availability, GPU access, and site allocations for smaller early adopters.
- The DarkNX purchase order was removed from the 2026 forecast after the development site became unavailable, impacting near-term revenue expectations.
- Accelsius is no longer expected to reach cash flow breakeven this year, and Innventure Inc (INV) has withdrawn its 2028 consolidated positive cash flow target.
- The company's net loss widened to $34.9 million in Q2 2026, up from $27.8 million in Q1, with adjusted EBITDA loss increasing to $22.6 million.
- Cash and restricted cash decreased to $46.5 million at the end of Q2, down from $60.4 million at the end of Q1, reflecting significant operating cash use.
- Innventure Inc (INV) anticipates a need for additional capital at the parent level due to the extended timeline for Accelsius to achieve positive cash flow.
- The company acknowledged that bookings and revenues will remain lumpy and hard to predict until two-phase adoption is established, with no material updates expected every quarter.
Good afternoon, and welcome to Innventure's second-quarter 2026 earnings conference call. (Operator Instructions) As a reminder, this conference call is being recorded. If you have any objections, please disconnect at this time.
I would now like to turn the call over to Kyle Nagarkar, Investor Relations. Please go ahead.
Thank you, Mariana, and good afternoon, everyone. Welcome to Innventure's second-quarter 2026 earnings call. With me today are Bill Haskelll, Chief Executive Officer; Dave Yablunosky, Chief Financial Officer; Dr. Bill Grieco, our incoming Chief Executive Officer; and John Hewitt, Chief Executive Officer of Accelsius.
Earlier today, we issued a press release announcing our financial results, which is available on our Investor Relations website, along with the supplemental slide presentation. As referenced on slide 6, we will be discussing non-GAAP financial measures during this call. The most directly comparable GAAP financial measures and a reconciliation of the differences
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