Home / Going-concern warnings / Innventure, Inc.
Filed 2025-11-13 路 Form 10-Q 路 Accession 0001628280-25-052035 micro
Price before filing: $3.71 (2025-11-12 close, split/dividend-adjusted)
Market cap at flag: $200.8M (2025-11-13) 路 Latest: $27.3M (2026-10-16)
| Window | INV | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +38.0% | -0.4% | +38.4% | 2025-12-15 |
| 90 days | -14.8% | +1.6% | -16.4% | 2026-02-11 |
| 180 days | +83.6% | +8.6% | +74.9% | 2026-05-12 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 2 insiders sold $3.6M (10 sales)
30 days after: 3 insiders sold $10.9M (11 sales); 5 insiders bought $244K (5 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-10-06 | HENNESSY DANIEL J Director | Sale | 6,265 | $5.11 | $32K | yes | Form 4 |
| 2025-10-07 | HENNESSY DANIEL J Director | Sale | 500 | $5.01 | $3K | yes | Form 4 |
| 2025-10-08 | HENNESSY DANIEL J Director | Sale | 8,606 | $5.05 | $43K | yes | Form 4 |
| 2025-10-09 | HENNESSY DANIEL J Director | Sale | 10,828 | $5.21 | $56K | yes | Form 4 |
| 2025-10-10 | WE-INN LLC 10% owner | Sale | 2,300 | $3.92 | $9K | no | Form 4 |
| 2025-10-22 | WE-INN LLC 10% owner | Sale | 436,296 | $3.01 | $1.3M | no | Form 4 |
| 2025-10-23 | WE-INN LLC 10% owner | Sale | 193,587 | $3.13 | $606K | no | Form 4 |
| 2025-10-24 | WE-INN LLC 10% owner | Sale | 263,627 | $3.03 | $799K | no | Form 4 |
| 2025-10-27 | WE-INN LLC 10% owner | Sale | 98,167 | $2.97 | $292K | no | Form 4 |
| 2025-10-29 | WE-INN LLC 10% owner | Sale | 149,708 | $2.92 | $437K | no | Form 4 |
| 2025-11-13: red flag filed | |||||||
| 2025-11-18 | WE-INN LLC 10% owner | Sale | 263,782 | $3.61 | $952K | no | Form 4 |
| 2025-11-19 | WE-INN LLC 10% owner | Sale | 235,765 | $3.34 | $787K | no | Form 4 |
| 2025-11-20 | Niemeyer Suzanne Director | Purchase | 4,000 | $3.40 | $14K | no | Form 4 |
| 2025-11-20 | WE-INN LLC 10% owner | Sale | 302,211 | $3.51 | $1.1M | no | Form 4 |
| 2025-11-21 | Donnally James O Director | Purchase | 27,886 | $3.37 | $94K | no | Form 4 |
| 2025-11-25 | HENNESSY DANIEL J Director | Sale | 266,367 | $5.31 | $1.4M | yes | Form 4 |
| 2025-11-26 | Haskell Gregory W Chief Executive Officer, Director | Purchase | 10,000 | $5.14 | $51K | no | Form 4 |
| 2025-11-26 | Scott John Stewart Chief Strategy Officer | Sale | 452,668 | $5.13 | $2.3M | no | Form 4 |
| 2025-12-01 | Austrup Roland Chief Growth Officer | Purchase | 4,900 | $5.01 | $25K | no | Form 4 |
| 2025-12-01 | HENNESSY DANIEL J Director | Sale | 81,993 | $5.13 | $421K | yes | Form 4 |
| 2025-12-01 | WE-INN LLC 10% owner | Sale | 427,301 | $5.11 | $2.2M | no | Form 4 |
| 2025-12-02 | HENNESSY DANIEL J Director | Sale | 8,450 | $5.01 | $42K | yes | Form 4 |
| 2025-12-02 | Otworth Michael Executive Chairman, Director | Purchase | 12,000 | $5.06 | $61K | no | Form 4 |
| 2025-12-02 | WE-INN LLC 10% owner | Sale | 117,901 | $4.95 | $584K | no | Form 4 |
| 2025-12-03 | WE-INN LLC 10% owner | Sale | 172,589 | $4.76 | $822K | no | Form 4 |
Showing 25 of 26 transactions.
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-08-15 to 2025-12-13. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"Liquidity and Capital Resources (in thousands, except as noted) As discussed in more detail below, management has concluded that there is substantial doubt about our ability to continue as a going concern within one year after the date that these consolidated financial statements included in Item 1. of this Form 10-Q were issued."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-09-30)
Why this score: quarterly (unaudited) disclosure; also within 90 days: Auditor change
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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