Innventure Earnings Call Transcripts
Fiscal Year 2026
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Q2 revenue doubled year-over-year but fell sequentially, with Accelsius contributing most of the total. Delays in market adoption and resource constraints have pushed back breakeven timelines and led to suspended revenue guidance. Focus shifts to milestone-driven progress and large hyperscaler partnerships.
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The event detailed a strategy of commercializing advanced B2B technologies from multinational R&D, with a focus on scaling companies like Accelsius, AeroFlexx, and Refinity. Accelsius leads with innovative two-phase cooling for data centers, while AeroFlexx and Refinity target sustainability in packaging and plastics.
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The meeting confirmed a quorum, elected three directors to serve until 2029, and ratified the appointment of the independent auditor for 2026. No questions were submitted by stockholders, and management highlighted the presence of forward-looking statements.
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Q1 2026 revenue rose to $1.4M, driven by growth at Accelsius, AeroFlexx, and Refinity, with strong bookings and expanding commercial pipelines. Accelsius targets a $100M run rate by year-end, supported by strategic partnerships and robust demand for advanced cooling solutions.
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Significant portfolio momentum includes a major Canadian deployment for Accelsius, a new Aveda deal for AeroFlexx, and strong Q1 bookings. The business model leverages unique multinational technologies, maintains majority ownership, and focuses on scalable, high-value solutions.
Fiscal Year 2025
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All operating companies delivered simultaneous execution milestones, driving a shift to self-funding and strong commercial momentum. Accelsius secured $50M+ in Q1 2026 backlog, AeroFlexx expanded with Aveda, and Refinity advanced pilot validation, supporting confidence in cash flow positivity by 2028.
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The conference highlighted a focused strategy of launching disruptive tech companies with multinationals, a strong financial position, and growing industry partnerships. Accelsius stands out with a robust sales pipeline and strategic alliances, while operational cost controls and index inclusion support future growth.
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Accelsius's pipeline exceeded $1 billion with 75% in production opportunities for 2026, and Q3 bookings set a new record. Revenue was $0.5 million, net loss $34.7 million, and cash rose to $14.1 million. Johnson Controls invested $25 million, supporting growth and innovation.
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Q2 saw accelerating momentum in data center liquid cooling, with Accelsius shifting from proof-of-concept to production orders and a strong pipeline for 2025-2026. Revenue was $0.5M, adjusted EBITDA loss improved, and capital position strengthened through new financing.
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The conference detailed a disciplined conglomerate model for launching high-growth companies in partnership with multinationals, emphasizing risk reduction and capital efficiency. Accelsius, a leader in advanced data center cooling, is the current growth catalyst, with a scalable model aiming for systematic value creation and premium valuation.
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Q1 revenue was $0.2M with a $248M EBITDA loss, but management expects a major revenue inflection in H2 2025 as Accelsius gains traction in the fast-growing data center liquid cooling market. Strategic partnerships, increased lead generation, and capital actions position the company for growth.
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A new collaboration with Dow has launched Refinity, targeting the vast, untapped market of mixed plastic waste with proprietary high-yield recycling technology. The approach leverages proven industrial processes, flexible plant siting, and a strong leadership team to enable scalable, economically attractive solutions for plastic circularity.
Fiscal Year 2024
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2024 marked a transformative year with commercial launches, a public listing, and expanded multinational partnerships. Revenue reached $1.2 million, with a $27.9 million adjusted EBITDA loss, and significant capital was raised to support growth. Strong momentum is expected to drive a steep revenue ramp in the second half of 2025.
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First earnings call as a public company highlighted rapid commercialization of Accelsius and AeroFlexx, strong capital position, and a disciplined, risk-mitigated approach to scaling new ventures. Accelsius and AeroFlexx are positioned for significant growth in large, expanding markets.