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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Before Taxes

The provision for income before taxes was as follows (in thousands):

			Successor												Predecessor
			Year Ended December 31, 2025						October 2, 2024 through December 31, 2024						January 1, 2024 through October 1, 2024
United States			$	(488,148)					$	(73,375)					$	(27,766)
Foreign1			(685)						—						—
Total			$	(488,833)					$	(73,375)					(27,766)
1The Company adopted ASU 2023-09 on a prospective basis, and as a result for the year ended December 31, 2025, foreign income is presented on the country of domicile which results in Innventure, Inc’s income before taxes included. For the periods ended December 31, 2024 and October 1,2024, Innventure, Inc’s income was included in the United States based on the country of tax jurisdiction.

Schedule of Provision for Income Taxes

The provision for income taxes was as follows:

			Successor						Successor						Predecessor
			Year Ended December 31, 2025						October 2, 2024 through December 31, 2024						January 1, 2024 through October 1, 2024
Current Expense:
State			23						18						—
Total Current Expense			23						18						—
Deferred Expense:
Federal			(13,648)						(3,300)						432
State			142						—						—
Total Deferred Expense			(13,506)						(3,300)						432
Total Expense:			$	(13,483)					$	(3,282)					$	432

Schedule of Reconciliation of the Income Tax Provision

Beginning with the year ended December 31, 2025, the Company has adopted ASU 2023-09 and, as a result, the reconciliation of income tax expense has been updated on a prospective basis. The Company did not pay income taxes net of refunds during the year ended December 31, 2025. As no income taxes were paid, disaggregation by federal, state, or foreign jurisdiction was not applicable for the period presented. The income tax benefit reflected in the Consolidated Statements of Operations differs from the tax computed by applying the statutory U.S. federal rate of 21% to "Income tax expense (Benefit)" was as follows:

			Successor
			December 31, 2025
			In thousands (except percentages)
Income taxes at federal statutory rate			(102,655)			21.0		%
State taxes, net of federal benefit2			(145)			—		%
Warrant liability			(1,379)			0.3		%
Non-deductible expenses			34			—		%
Change in earnout fair value			(2,098)			0.4		%
Other permanent differences			7,224			(1.5)		%
Change in valuation allowance			11,618			(2.4)		%
Goodwill impairment			72,777			(14.9)		%
Officer’s compensation			1,141			(0.2)		%
Total provision (benefit) for income taxes			$	(13,483)		2.7		%
2Arizona, Florida, New York, Oklahoma, and Virginia represent majority of the tax effect in this category.

For the successor period October 2, 2024 through December 31, 2024 and the predecessor period January 1, 2024 through October 1, 2024, income tax expense reflected in the Consolidated Statements of Operations differs from the tax computed by applying the statutory U.S. federal rate of 21% to "Income tax expense (benefit)" was as follows:

									Successor												Predecessor
									October 2, 2024 through December 31, 2024												January 1, 2024 through October 1, 2024
Income taxes at federal statutory rate									(15,405)						21.0		%				—						—		%
State taxes, net of federal benefit									(1,801)						2.5		%				—						—		%
Tax on pre-tax earnings of corporate subsidiaries									—						—		%				(3,022)						10.9		%
Warrant liability									3,685						(5.0)		%				—						—		%
Non-deductible expenses									6						—		%				6						—		%
Change in earnout fair value									(714)						1.0		%				—						—		%
Other permanent differences									(423)						0.6		%				—						—		%
Change in valuation allowance									11,664						(15.9)		%				3,448						(12.4)		%
R&D credit									(294)						0.4		%				—						—
Total provision (benefit) for income taxes									$	(3,282)					4.6		%				$	432					(1.5)		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities as of December 31, 2025 and 2024 are as follows:

			December 31, 2025						December 31, 2024
Deferred Tax Assets:
Deferred lease liabilities			$	262					$	138
Reserves and other accruals			8,991						4,873
Capitalized R&D expense			3,740						2,562
Fixed assets and intangibles			2,830						3,113
Unrealized Gain/Loss			1,945						—
Loss carry-forwards and other tax attributes			29,753						15,682
Total Deferred Tax Assets			47,521						26,368
Less: Valuation allowance			(23,130)						(11,664)
Net Deferred Tax Assets			$	24,391					$	14,704
Deferred Tax Liabilities:
Amortization			$	(34,213)					$	(38,443)
Investment in Partnerships			(3,982)						(3,505)
Right of use assets			(44)						(109)
Total Deferred Tax Liabilities			(38,239)						(42,057)
Net Deferred Tax Liabilities			$	(13,848)					$	(27,353)

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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