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Business Combination (Tables) | 12 Months Ended
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Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Shares of Common Stock Issued and Outstanding at the Closing of the Business Combination | The number of shares of Common Stock issued and outstanding at the Closing of the Business Combination were:
Innventure LLC Units | Immediately Prior to Closing |  | Common Stock Conversion Ratio |  | Common Stock Upon Closing
Class B Preferred Units | 10,875,000 |  |  | 2.09 |  | 22,754,664 |
Class B-1 Preferred Units | 5,609,951 |  |  | 2.09 |  | 11,738,165 |
Class A Units | 342,608 |  |  | 2.09 |  | 716,867 |
Class C Units | 1,570,125 |  |  | 2.09 |  | 3,285,303 |
Total | 18,397,684 |  |  |  |  | 38,494,999 |
Learn CW Shares |  |  |  |  |
Learn CW Public shareholders | 1,027,674 |  |  | 1.00 |  | 1,027,674 |
Learn CW Class B Shareholders | 5,000,000 |  |  | 1.00 |  | 5,000,000 |
Total | 6,027,674 |  |  |  |  | 6,027,674 |
Less: Learn CW shares subject to clawback provisions |  |  |  |  | (932,823) |
Total Common Stock Issued and Outstanding at Closing |  |  |  |  | 43,589,850 |
Schedule of Consideration Transferred for the Business Combination | The consideration transferred for the Business Combination is summarized as follows (in thousands):
Holdco Common Stock transferred to Innventure Members(1) | $ | 418,441 |
Contingent consideration(2) | 53,980 |
Consideration transferred | 472,421 |
Non-controlling interest(3) | 343,030 |
Total business enterprise value | $ | 815,451 |
(1) Represents the fair value of the 38,494,999 of aggregate consideration paid in shares (excluding the Company Earnout shares) at a Closing share price of $10.87. (2) Represents the fair value of the Company Earnout Shares issued and contingently issuable to Innventure Members. Refer to Note 10. Earnout Shares for more details. (3) The non-controlling interest represents the fair value of equity in Accelsius held by non-controlling parties. The fair value is calculated using a discounted cash flow methodology to determine the Accelsius equity value which is pro rated by the non-controlling ownership percentage (Level 3). Significant inputs used to measure the fair value of the non-controlling interest include the long-term growth rate of 3.0%, normalized tax rate of 27.9%, normalized net working capital of 18.0%, and weighted average cost of capital of 17.6%. Investing cash flow activity as a result of the Business Combination is summarized as follows (in thousands):
| Amount
Cash consideration transferred | $ | — |
Add: Cash and cash equivalents acquired | 16 |
Investing cash flow activity as a result of the Business Combination | $ | 16 |
On the Closing Date, Innventure settled certain obligations using cash from the Learn CW trust account that was released at Closing and financing secured through Series B Preferred Stock. The financing secured through Series B Preferred Stock is discussed in Note 13. Stockholders' Equity.
| (in thousands)
| Amount
Cash proceeds from Learn CW trust account | $ | 11,342 |
Net cash proceeds from Series B Preferred Stock issuance | 10,572 |
Total Innventure, Inc. cash sources | $ | 21,914 |
Payment of Learn CW accounts payable and accrued expenses | $ | 9,233 |
Payment of Learn CW promissory note due to Sponsor | 4,628 |
Payment of Innventure LLC transaction costs at Closing | 6,206 |
Total cash uses | $ | 20,067 |
Net cash proceeds | $ | 1,847 |
Schedule of Purchase Consideration Allocation to Assets and Liabilities | The purchase consideration was allocated to the following assets and liabilities (in thousands):
| Amount
Assets acquired: |
Cash and cash equivalents | $ | 16 |
Accounts receivable | 117 |
Due from related parties | 210 |
Inventory | 2,824 |
Prepaid expenses and other current assets | 1,955 |
Equity method investments | 18,449 |
Investment in debt securities - AFS | 10,172 |
Property, plant, and equipment | 1,227 |
Intangible assets | 187,500 |
Other assets | 829 |
Total assets acquired: | $ | 223,299 |
Liabilities assumed: |
Accounts payable | $ | 6,286 |
Accrued employee benefits | 7,617 |
Accrued expenses | 1,972 |
Related party payable | 13,932 |
Notes payable | 975 |
Patent installment payable | 13,600 |
Deferred tax liability | 30,654 |
Other liabilities | 748 |
Total liabilities assumed: | $ | 75,784 |
Net identifiable assets acquired | $ | 147,515 |
Goodwill | $ | 667,936 |
Schedule of Fair Value of Definite-Lived Intangible Assets | The fair value of definite-lived intangible assets as of the Closing Date included (in thousands):
| Amount
Trade names | $ | 17,800 |
Customer relationships | 4,600 |
Developed technology | 165,100 |
Total | $ | 187,500 |

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