Latest news with #Haskell
Yahoo
17-06-2025
- Entertainment
- Yahoo
Carrie Coon Reveals Her Husband Tracy Letts' Unique Vice: 'He Doesn't Do Drugs or Buy Cars'
During a June 16 appearance on The Tonight Show Starring Jimmy Fallon, Carrie Coon revealed that her husband Tracy Letts is a fervent collector of DVDs The White Lotus star said that he owns "over 10,000," adding that more "arrive every day" The couple and their two children watch the movies together and post reviews on LetterboxdCarrie Coon is supportive of her husband Tracy Letts' unexpected vice. During a Monday, June 16 appearance on The Tonight Show Starring Jimmy Fallon, theThe White Lotus actress, 44, spoke with host Jimmy Fallon about Letts' shockingly large collection of DVDs. According to her, he owns "over 10,000" of them and more "arrive every day." "He doesn't do drugs or buy cars. It's fine," Coon jokingly rationalized to Fallon. She also shared how Letts' collection has become something of a family affair. Coon explained that she and Letts, who she marred in 2013, have a shared Letterboxd account where they share reviews of the movies that they're watching. Their two children — son Haskell, 7, and a 3-year-old daughter whose name has not been made public — even join in on the fun. "We used to post them on X, but now it's a hellscape," Coon said about the reviews. "And so now we decided we had to go to Letterboxd because we wanted to continue the tradition because people like the movie-watching lists." "And it turns out a lot of film students don't know things," she added. "Like, they've seen a meme from Deliverance, but they've never seen Deliverance. Or they've never seen An Unmarried Woman. Anyways, tons of films." Speaking about Haskell, the actress said, "We've been posting reviews from my son also because he's the only 7-year-old I know who you put a movie on, and he goes, 'Yes! It's in black and white!' " While their daughter is "a little bit more traditional," Coon added that Haskell is "a total cinephile." Their kids have weighed in on surprising movies. Earlier in 2025, they watched a silent version of The Hunchback of Notre Dame. "The kids were surprisingly into this. The boy gives it a thousand stars," she said, noting Haskell's high praise. "The girl gives it 12 stars (because 12 is her favorite number)." In a review of Dr. Jekyll and Mr. Hyde the family wrote, "The boy gives it 100 stars, 'maybe more.' The girl made it nearly to the end and then called it quits." Coon confirmed that her kids did more than sit through the movie. She said her son "reads the titles out loud and kind of acts them out and then gets really excited. And my daughter sat through the whole thing. She's 3. I think she's just trying to impress her brother. She also likes Frozen, but, you know. One more obvious film that the family reviewed was 2024's The Wild Robot — "The boy gives it so many stars that he doesn't know how many stars he can give it." Another thing that Coon watched with Letts was the third season of HBO's The White Lotus, which she starred in. She told Fallon that the couple tuned in every week to watch the new episodes, adding that she forgot what had happened after filming. For a show that is notoriously shrouded in secrecy, Fallon wanted to know if Coon had a hard time keeping the plot a secret. "They collected our scripts in Thailand. We weren't allowed to have them out. But no, it was not hard because I don't see anyone or do anything or have any friends," she teased, adding, " And I think my parents watched the show, but they haven't mentioned it yet so I don't know for sure. So no, it was easy for me." Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. The White Lotus is now streaming on Max. Read the original article on People
Yahoo
11-06-2025
- Business
- Yahoo
Consumers brace for steeper bills and lower credit scores from Trump's financial deregulation
Rob Haskell was hoping a new rule would shield his credit report from thousands of dollars in bills for recent heart procedures. Instead, he's bracing for impact from President Donald Trump's push to slash financial regulations. 'I've always had medical debt hanging over me but, you know, it's just completely unmanageable,' Haskell said in late May. He was speaking to NBC News from a hospital bed at PeaceHealth St. Joseph Medical Center in Bellingham, Washington, days before an open heart surgery that threatened to yield another steep bill. 'So, to the moon on that one,' he sighed. The 58-year-old contractor said he has battled a series of heart and kidney issues for most of his life. Despite having health insurance, his medical needs have resulted in thousands of dollars in debt. Haskell recently paid off a $5,000 bill that knocked his credit score 21 points lower — debt that might have been spared from his report under a rule instituted in the final days of the Biden-era Consumer Financial Protection Bureau. The CFPB estimated at the time that the measure would have spared $49 billion in bills from hitting the reports of 15 million people. But in April, Trump-appointed leadership at the consumer watchdog reversed its position and threw its support behind credit unions and consumer reporting companies seeking to block the rule in a Texas federal court. After twice delaying the policy's March start date, the judge is expected to rule within days. Haskell used some retirement savings to pay off his last operation, in 2024. Before his heart surgery last month, he'd hoped the medical debt rule would finally help smooth out his finances, boost his credit score above 700, and improve his chances of buying property to build a home. That now appears unlikely. 'There really was very little information about the whole thing,' Haskell said of the CFPB's about-face. 'I was really surprised.' The change adds to the financial risks consumers increasingly face from months of cuts and policy rollbacks at the agency, advocates say, contributing to broader economic uncertainty stoked by Trump's trade war. Since January, CFPB leadership has attempted to fire nearly all of the agency's 1,700 workers, halted standard supervisory and enforcement actions and blocked rules aimed at buttressing consumers' wallets. The actions have stunned consumer advocates who just months ago had expected at least some of the Biden-era guidance to remain untouched. Some pointed to the populist economic message that propelled Trump back into the Oval Office, even though the CFPB — itself a byproduct of populist frustrations churned up by the 2008 financial crisis — has drawn GOP ire since its inception. 'These rules generally are very politically popular,' said Chi Chi Wu, a senior attorney at the National Consumer Law Center, a nonprofit group that stepped in to defend both the medical debt rule and a separate one capping overdraft fees at large banks at $5. The latter measure was voided in early May when Trump signed House Republicans' resolution repealing it. When federal agencies' policies are nullified under the Congressional Review Act, they're prevented from issuing substantially similar ones in the future. 'They're actively harming regular, hard-working Americans so that their billionaire buddies can profit,' Wu said of administration officials. 'There's really no other way to look at it.' Spokespeople for the CFPB and the White House didn't respond to requests for comment. The Trump administration has cast its changes as efforts to combat government overreach. In remarks to the American Bankers Association in April, Treasury Secretary Scott Bessent, who was appointed acting director of the CFPB in late January, described Biden-era rules as politically biased and criticized their 'compliance costs' that could impede 'responsible lending and risk-taking.' 'The associated mission drift can lend itself to political ends,' he said at the time. The consumer banking industry has applauded efforts to rein in the agency. 'How do we take politics out of regulation, where it never should have been?' Lindsey Johnson, president and CEO of the Consumer Bankers Association, said at a recent industry event. She also thanked Trump in a statement last month cheering the elimination of the overdraft rule 'for protecting consumer choice and access to a deeply valued financial tool utilized by millions of Americans in times of need.' Republican policymakers, both at the CFPB and in Congress, have taken steps to unwind other recent financial regulations. In April, a Biden-era rule capping most credit card late fees at $8 was eliminated. So was a policy aimed at tightening regulations around the sale of consumers' financial data and Social Security numbers. The CFPB has also abandoned a lawsuit against the three big banks that operate the digital payments platform Zelle, which was accused of mishandling users' fraud complaints totaling more than $870 million since 2017. Gone, too, are oversight powers over big tech companies offering payment tools and plans to hold Buy Now, Pay Later services — which have rapidly become many consumers' default choice of credit — to the same regulations as card issuers. 'A lot of people don't necessarily know about the CFPB and may not understand how it's being attacked, but they will be affected,' said Adam Rust, director of financial services at the Consumer Federation of America. 'Partisanship is what is driving these actions, both by Congress and the CFPB, and it strikes me as an inside-the-Beltway game that ignores the effect on regular people.' In the meantime, some advocates are shifting focus to state and municipal safeguards. New York City Comptroller Brad Lander published a report this week outlining how the city and the state can fill the void left by a CFPB 'in crisis,' recommending a consumer restitution fund and bank overdraft caps. In January, California instituted its own prohibitions on health care providers and debt collectors from reporting medical debt to credit agencies. Still, Armen Meyer, a financial policy consultant who has served as both a fintech executive and a bank regulator, said he expects 'many, many consumers will be harmed no matter how much the states stand up.' George Curlee, 51, is keenly aware of how the CFPB's policy reversals threaten his finances. In 2023, the Garland, Texas, resident underwent an emergency toe amputation that resulted in $61,000 in total medical debt despite the insurance he'd purchased on an Affordable Care Act marketplace. Around the same time, he was fired from his retail job and his credit score plunged 60 points. Curlee said he has since managed to whittle the debt down to about $50,000 and found part-time work in March. The job pays less than half his previous $40,000 annual salary, and he's been living with two of his brothers to save money. 'When you're broke, you're broke,' he said. 'You just do what you can to survive.' Curlee now fears worse to come because of House Republicans' so-called Big Beautiful Bill, which the Congressional Budget Office estimates would push at least 16 million people off health insurance by 2034 — including those who pay for ACA coverage like him. He has since joined advocates to lobby policymakers against the proposed cuts and in favor of preserving the medical debt rule. 'I really wish that politicians would take the politics out of these bills and do what's right for the American people,' he said. 'This is a little insane.' This article was originally published on
NBC News
11-06-2025
- Business
- NBC News
Consumers brace for steeper bills and lower credit scores from Trump's financial deregulation
Rob Haskell was hoping a new rule would shield his credit report from thousands of dollars in bills for recent heart procedures. Instead, he's bracing for impact from President Donald Trump's push to slash financial regulations. 'I've always had medical debt hanging over me but, you know, it's just completely unmanageable,' Haskell said in late May. He was speaking to NBC News from a hospital bed at PeaceHealth St. Joseph Medical Center in Bellingham, Washington, days before an open heart surgery that threatened to yield another steep bill. 'So, to the moon on that one,' he sighed. A lot of people don't necessarily know about the CFPB and may not understand how it's being attacked, but they will be affected. Adam Rust, consumer federation of america The 58-year-old contractor said he has battled a series of heart and kidney issues for most of his life. Despite having health insurance, his medical needs have resulted in thousands of dollars in debt. Haskell recently paid off a $5,000 bill that knocked his credit score 21 points lower — debt that might have been spared from his report under a rule instituted in the final days of the Biden-era Consumer Financial Protection Bureau. The CFPB estimated at the time that the measure would have spared $49 billion in bills from hitting the reports of 15 million people. But in April, Trump-appointed leadership at the consumer watchdog reversed its position and threw its support behind credit unions and consumer reporting companies seeking to block the rule in a Texas federal court. After twice delaying the policy's March start date, the judge is expected to rule within days. Haskell used some retirement savings to pay off his last operation, in 2024. Before his heart surgery last month, he'd hoped the medical debt rule would finally help smooth out his finances, boost his credit score above 700, and improve his chances of buying property to build a home. That now appears unlikely. 'There really was very little information about the whole thing,' Haskell said of the CFPB's about-face. 'I was really surprised.' The change adds to the financial risks consumers increasingly face from months of cuts and policy rollbacks at the agency, advocates say, contributing to broader economic uncertainty stoked by Trump's trade war. Since January, CFPB leadership has attempted to fire nearly all of the agency's 1,700 workers, halted standard supervisory and enforcement actions and blocked rules aimed at buttressing consumers' wallets. The actions have stunned consumer advocates who just months ago had expected at least some of the Biden-era guidance to remain untouched. Some pointed to the populist economic message that propelled Trump back into the Oval Office, even though the CFPB — itself a byproduct of populist frustrations churned up by the 2008 financial crisis — has drawn GOP ire since its inception. 'These rules generally are very politically popular,' said Chi Chi Wu, a senior attorney at the National Consumer Law Center, a nonprofit group that stepped in to defend both the medical debt rule and a separate one capping overdraft fees at large banks at $5. The latter measure was voided in early May when Trump signed House Republicans' resolution repealing it. When federal agencies' policies are nullified under the Congressional Review Act, they're prevented from issuing substantially similar ones in the future. 'They're actively harming regular, hard-working Americans so that their billionaire buddies can profit,' Wu said of administration officials. 'There's really no other way to look at it.' Spokespeople for the CFPB and the White House didn't respond to requests for comment. The Trump administration has cast its changes as efforts to combat government overreach. In remarks to the American Bankers Association in April, Treasury Secretary Scott Bessent, who was appointed acting director of the CFPB in late January, described Biden-era rules as politically biased and criticized their 'compliance costs' that could impede 'responsible lending and risk-taking.' 'The associated mission drift can lend itself to political ends,' he said at the time. The consumer banking industry has applauded efforts to rein in the agency. 'How do we take politics out of regulation, where it never should have been?' Lindsey Johnson, president and CEO of the Consumer Bankers Association, said at a recent industry event. She also thanked Trump in a statement last month cheering the elimination of the overdraft rule 'for protecting consumer choice and access to a deeply valued financial tool utilized by millions of Americans in times of need.' Republican policymakers, both at the CFPB and in Congress, have taken steps to unwind other recent financial regulations. In April, a Biden-era rule capping most credit card late fees at $8 was eliminated. So was a policy aimed at tightening regulations around the sale of consumers' financial data and Social Security numbers. The CFPB has also abandoned a lawsuit against the three big banks that operate the digital payments platform Zelle, which was accused of mishandling users' fraud complaints totaling more than $870 million since 2017. Gone, too, are oversight powers over big tech companies offering payment tools and plans to hold Buy Now, Pay Later services — which have rapidly become many consumers' default choice of credit — to the same regulations as card issuers. 'A lot of people don't necessarily know about the CFPB and may not understand how it's being attacked, but they will be affected,' said Adam Rust, director of financial services at the Consumer Federation of America. 'Partisanship is what is driving these actions, both by Congress and the CFPB, and it strikes me as an inside-the-Beltway game that ignores the effect on regular people.' In the meantime, some advocates are shifting focus to state and municipal safeguards. New York City Comptroller Brad Lander published a report this week outlining how the city and the state can fill the void left by a CFPB 'in crisis,' recommending a consumer restitution fund and bank overdraft caps. In January, California instituted its own prohibitions on health care providers and debt collectors from reporting medical debt to credit agencies. Still, Armen Meyer, a financial policy consultant who has served as both a fintech executive and a bank regulator, said he expects 'many, many consumers will be harmed no matter how much the states stand up.' When you're broke, you're broke. You just do what you can to survive. George Curlee, Garland, Texas George Curlee, 51, is keenly aware of how the CFPB's policy reversals threaten his finances. In 2023, the Garland, Texas, resident underwent an emergency toe amputation that resulted in $61,000 in total medical debt despite the insurance he'd purchased on an Affordable Care Act marketplace. Around the same time, he was fired from his retail job and his credit score plunged 60 points. Curlee said he has since managed to whittle the debt down to about $50,000 and found part-time work in March. The job pays less than half his previous $40,000 annual salary, and he's been living with two of his brothers to save money. 'When you're broke, you're broke,' he said. 'You just do what you can to survive.' Curlee now fears worse to come because of House Republicans' so-called Big Beautiful Bill, which the Congressional Budget Office estimates would push at least 16 million people off health insurance by 2034 — including those who pay for ACA coverage like him. He has since joined advocates to lobby policymakers against the proposed cuts and in favor of preserving the medical debt rule. 'I really wish that politicians would take the politics out of these bills and do what's right for the American people,' he said. 'This is a little insane.'
Wales Online
31-05-2025
- Entertainment
- Wales Online
England international James Haskell announces heartbreaking news as he's flooded with support
England international James Haskell announces heartbreaking news as he's flooded with support James Haskell revealed sad news on his social media channels and was flooded with support from the game of rugby James Haskell said his dad was "an amazing husband, a loving father, and a man who would help anyone in need." (Image: James Haskell on Instagram ) Former England international James Haskell has announced the tragic passing of his father, adding that he is finding comfort in knowing his dad is now at peace. Taking to Instagram, Haskell revealed the news with a collection of photos and a fitting tribute to his dad. The rugby family flooded the comments, with the likes of Mike Brown, Danny Care and Ugo Monye offering their condolences. Haskell branded his father's humour as "legendary" and recognised the unwavering support of his rugby career. In Haskell's post, he included some touching photos to remember his dad, which included his wedding day and multiple family photos from years gone by. Sign up to Inside Welsh rugby on Substack to get exclusive news stories and insight from behind the scenes in Welsh rugby. "This is never an easy thing to write," began Haskell. "My dad has passed away and while it's unbearably sad, it's also a celebration of an incredible man. He had more energy, more wit, and more heart than anyone I've ever known. "He made me who I am. He supported me at every game, pushed me to be better, and loved me unconditionally. "He didn't always get it right but he always gave his best, and his work ethic was second to none. "He was an amazing husband, a loving father, and a man who would help anyone in need. His humour was legendary. His presence filled every room. "In the end, he was in a bad way, and though it's heartbreaking to say goodbye, there's comfort in knowing he's now at peace. "He leaves behind a huge hole in our lives especially for my mum and brother but we will hold onto the memories that made him who he was. "I love you, Dad. I know you loved me and I know you were proud of me. You kept everything I ever did, framed it, treasured it and I'll never forget that. I'll think of you every single day. Always. "You lived your life and always did it your way!" Content cannot be displayed without consent Haskell retired from rugby in 2019 and has since forged a successful post-playing career. Alongside Alex Payne and Mike Tindall, The Good, The Bad and The Rugby has become one of the most popular rugby podcasts in the world, going on multiple tours in recent years. Article continues below Alongside that, he's written a plethora of books and is also an accomplished house music DJ and producer.
Yahoo
15-05-2025
- Business
- Yahoo
Innventure Reports First Quarter 2025 Results
Accelsius continues to build momentum within the large and growing liquid cooling market Innventure reiterates confidence in achieving revenue growth inflection during the second half of 2025 ORLANDO, Fla., May 15, 2025 (GLOBE NEWSWIRE) -- Innventure, Inc. (NASDAQ: INV) ('Innventure'), a technology commercialization platform, today announced financial results for the quarter ended March 31, 2025. 'Innventure's operating companies continued their momentum to start 2025, with both Accelsius and AeroFlexx further positioning themselves for revenue growth inflection in the second half of this year.' said Bill Haskell, Innventure's Chief Executive Officer. 'We founded Innventure to bring disruptive technologies to market by building companies we believe represent at least $1 billion enterprise value opportunities. Our companies are led by incredibly talented operators who are armed with differentiated technologies designed to meet significant unmet market needs. When it comes to high-growth ventures, timing the inflection point is inherently challenging, but from where we sit today, the confidence we have in our current family of companies has never been higher. ' Mr. Haskell continued, 'We are most excited about Accelsius's position in the two-phase, direct-to-chip liquid cooling market. Accelsius has a market leading technology and is engaged in deep discussions with many of the major players including hyperscalers, OEMs, colocation operators and AI-as-a-Service operators. Josh and his team are at the forefront of a seismic liquid cooling adoption cycle that we and data center operators across the ecosystem believe will occur in the near future. Once this shift takes hold, Accelsius is well equipped to catch the wave and drive significant value for our shareholders.' Conference Call and Webcast A conference call to discuss these results has been scheduled for 5:00 p.m. ET on May 15, 2025. The event will be webcasted live via Innventure's investor relations website or via this link. Parties interested in joining via teleconference can register using this link. After registering, you will be provided dial in details and a unique dial-in PIN. Registration is open through the live call, but to ensure you are connected for the full call, we suggest registering in advance. Innventure will also post a slide presentation to accompany the prepared remarks to its investor relations website shortly before the of the start of the event. About Innventure Innventure founds, funds, and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. As owner-operators, Innventure takes what it believes to be breakthrough technologies from early evaluation to scaled commercialization utilizing an approach designed to help mitigate risk as it builds disruptive companies it believes have the potential to achieve a target enterprise value of at least $1 billion. Innventure defines ''disruptive'' as innovations that have the ability to significantly change the way businesses, industries, markets and/or consumers operate. Non-GAAP Financial Measures We use certain financial measures that are not calculated in accordance with generally accepted accounting principles in the U.S. (GAAP) to supplement our consolidated financial statements. These non-GAAP financial measures provide additional information to investors to facilitate comparisons of past and present operating results, identify trends in our underlying operating performance, and offer greater transparency on how we evaluate our business activities. These measures are integral to our processes for budgeting, managing operations, making strategic decisions, and evaluating our performance. Our primary non-GAAP financial measures are EBITDA and Adjusted EBITDA. We define EBITDA as net income before interest, income taxes, and depreciation and amortization. Adjusted EBITDA is defined as EBITDA further adjusted to exclude certain non-cash items, non-recurring expenses, and other items that are not indicative of our core operating activities. These may include stock-based compensation, acquisition costs, and other financial items. We believe Adjusted EBITDA is valuable for investors and analysts as it provides additional insight into our operational performance, excluding the impacts of certain financing, investing, and other non-operational activities. This measure helps in comparing our current operating results with prior periods and with those of other companies in our industry. It is also used internally for allocating resources efficiently, assessing the economic outcomes of acquisitions and strategic decisions, and evaluating the performance of our management team. There are limitations to Adjusted EBITDA, including its exclusion of cash expenditures, future requirements for capital expenditures and contractual commitments, and changes in or cash requirements for working capital needs. Adjusted EBITDA also omits significant interest expenses and related cash requirements for interest and payments. While depreciation and amortization are non-cash charges, the associated assets will often need to be replaced in the future, and Adjusted EBITDA does not reflect the cash required for such replacements. Additionally, Adjusted EBITDA does not account for income or other taxes or necessary cash tax payments. Investors should use caution when comparing our non-GAAP measure to similar metrics used by other companies, as definitions can vary. Adjusted EBITDA should not be considered in isolation or as a substitute for GAAP financial measures. In presenting Adjusted EBITDA, we aim to provide investors with an additional tool for assessing the operational performance of our business. It serves as a useful complement to our GAAP results, offering a more comprehensive understanding of our financial health and operational efficiencies. Cautionary Statement Regarding Forward-Looking Statements Certain statements in this press release are "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Innventure's (the 'Company's') future financial or operating performance, expectations regarding new contractual arrangements, anticipated product line expansions and product testing and market acceptance, and these statements may refer to projections and forecasts. Forward-looking statements are often identified by future or conditional words such as 'plan,' 'believe,' 'expect,' 'anticipate,' 'intend,' 'outlook,' 'estimate,' 'forecast,' 'project,' 'continue,' 'could,' 'may,' 'might,' 'possible,' 'will,' 'potential,' 'predict,' 'should,' 'would' and other similar words and expressions (or the negative versions of such words or expressions), but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current assumptions and expectations of future events that are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this press release. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the Company's public filings made with the Securities and Exchange Commission and the following: (a) the Company's and its subsidiaries' ability to execute on strategies and achieve future financial performance, including their respective future business plans, expansion and acquisition plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and the Company's and its subsidiaries' ability to invest in growth initiatives; (b) the implementation, market acceptance and success of the Company's and its subsidiaries' business models and growth strategies; (c) the Company's and its subsidiaries' future capital requirements and sources and uses of cash; (d) the Company's access to funds under the Standby Equity Purchase Agreement with YA II PN, Ltd. ('YA') or the Securities Purchase Agreement and related convertible debentures with YA due to certain conditions, restrictions and limitations set forth therein; (e) certain restrictions and limitations set forth in the Company's debt instruments, which may impair the Company's financial and operating flexibility; (f) the Company and its subsidiaries ability to generate liquidity and maintain sufficient capital to operate as anticipated; (g) the Company's and its subsidiaries' ability to obtain funding for their operations and future growth and to continue as going concerns; (h) the risk that the technology solutions that the Company and its subsidiaries license or acquire from third parties or develop internally may not function as anticipated or provide the benefits anticipated; (i) developments and projections relating to the Company's and its subsidiaries' competitors and industry; (j) the ability of the Company and its subsidiaries to scale the operations of their businesses; (k) the ability of the Company and its subsidiaries to establish substantial commercial sales of their products; (l) the ability of the Company and its subsidiaries to compete against companies with greater capital and other resources or superior technology or products; (m) the Company and its subsidiaries' ability to meet, and to continue to meet, applicable regulatory requirements for the use of their respective products and the numerous regulatory requirements generally applicable to their businesses; (m) the outcome of any legal proceedings against the Company or its subsidiaries; (o) the Company's ability to find future opportunities to license or acquire breakthrough technology solutions from multinational corporations or other third parties ('Technology Solutions Provider') and to satisfy the requirements imposed by or to avoid disagreements with its current and future Technology Solutions Providers; (p) the risk that the launch of new companies distracts the Company's management from its other subsidiaries and their operations; (q) the risk that the Company may be deemed an investment company under the Investment Company Act, which would impose burdensome compliance requirements and restrictions on its activities; (r) the ability of the Company and its subsidiaries to sufficiently protect their intellectual property rights and to avoid or resolve in a timely and cost-effective manner any disputes that may arise relating to its use of the intellectual property of third parties; (s) the risk of a cyber-attack or a failure of the Company's or its subsidiaries' information technology and data security infrastructure; (t) geopolitical risk and changes in applicable laws or regulations; (u) potential adverse effects of other economic, business, and/or competitive factors; (v) operational risks related to the Company and its subsidiaries that have limited or no operating history; and (w) limited liquidity and trading of the Company's securities. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to update statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. Media Contact: Laurie Steinberg, Solebury Strategic Communications press@ Investor Relations Contact: Sloan Bohlen, Solebury Strategic Communications investorrelations@ Inc. and SubsidiariesCondensed Consolidated Balance Sheets(in thousands, except share and per share amounts) March 31, 2025(Unaudited) December 31, 2024 Assets Cash, cash equivalents and restricted cash $ 1,375 $ 11,119 Accounts receivable 237 283 Due from related parties 124 4,536 Inventories 5,220 5,178 Prepaid expenses and other current assets 3,329 3,170 Total Current Assets 10,285 24,286 Investments 33,684 28,734 Property, plant and equipment, net 2,186 1,414 Intangible assets, net 176,750 182,153 Goodwill 436,807 667,936 Other assets 707 766 Total Assets $ 660,419 $ 905,289 Liabilities and Stockholders' Deficit Accounts payable $ 5,061 $ 3,248 Accrued employee benefits 11,216 9,273 Accrued expenses 3,102 2,478 Related party notes payable - current — 14,000 Notes payable - current 2,141 625 Patent installment payable - current 700 1,225 Obligation to issue equity 261 4,158 Warrant liability 24,003 34,023 Income taxes payable 500 — Other current liabilities 340 317 Total Current Liabilities 47,324 69,347 Notes payable, net of current portion 12,346 13,654 Earnout liability 7,470 14,752 Stock-based compensation liability 718 1,160 Patent installment payable, net of current 12,375 12,375 Deferred income taxes 25,454 27,353 Other liabilities 260 355 Total Liabilities 105,947 138,996 Commitments and Contingencies (Note 16) Mezzanine Equity Preferred Stock, $0.0001 par value, 25,000,000 shares authorized, 2,885,848 and — shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 28,727 — Stockholders' Equity Preferred Stock, $0.0001 par value, 25,000,000 shares authorized, 1,118,808 and 1,102,000 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively — — Common Stock, $0.0001 par value, 250,000,000 shares authorized, 47,103,800 and 44,597,154 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 5 4 Additional paid-in capital 484,256 502,865 Accumulated other comprehensive (loss) gain (1,478 ) 909 Accumulated deficit (221,285 ) (78,262 ) Total Innventure, Inc., Stockholders' Equity 261,498 425,516 Non-controlling interest 264,247 340,777 Total Stockholders' Equity 525,745 766,293 Total Liabilities, Mezzanine and Stockholders' Equity $ 660,419 $ 905,289 See accompanying notes to condensed consolidated financial Inc. and SubsidiariesCondensed Consolidated Statements of Operations and Comprehensive Income (Loss)(Unaudited) (in thousands, except share and per share amounts) Successor Predecessor Three monthsended March 31,2025 Three monthsended March 31,2024 Revenue $ 224 $ 224 Operating Expenses Cost of sales 184 — General and administrative 19,676 7,904 Sales and marketing 2,096 1,183 Research and development 6,253 1,669 Goodwill impairment 233,213 — Total Operating Expenses 261,422 10,756 Loss from Operations (261,198 ) (10,532 ) Non-operating (Expense) and Income Interest expense, net (1,538 ) (405 ) Net gain on investments — 5,189 Net loss on investments - due to related parties — (186 ) Change in fair value of financial liabilities 16,429 (478 ) Equity method investment (loss) gain (6,756 ) 5 Realized gain on conversion of available for sale investment 1,507 — Loss on extinguishment of related party debt (3,538 ) — Loss on conversion of promissory notes — (1,119 ) Miscellaneous other income 21 — Total Non-operating Income 6,125 3,006 Loss before income taxes (255,073 ) (7,526 ) Income tax benefit (1,399 ) — Net Loss (253,674 ) (7,526 ) Less: net loss attributable to Non-redeemable non-controlling interest (110,677 ) (2,307 ) Net Loss Attributable to Innventure, Inc. Stockholders / Innventure LLC Unitholders (142,997 ) (5,219 ) Basic and diluted loss per share $ (3.10 ) Basic and diluted weighted average common shares 46,252,922 Other comprehensive loss, net of taxes: Unrealized loss on available for sale debt securities - related party (880 ) — Reclassification of realized gain on conversion of available for sale investments (1,507 ) — Total other comprehensive loss, net of taxes (2,387 ) — Total comprehensive loss, net of taxes (256,061 ) (7,526 ) Less: comprehensive loss attributable to Non-redeemable non-controlling interest (110,677 ) (2,307 ) Net Comprehensive Loss Attributable to Innventure, Inc. Stockholders / Innventure LLC Unitholders $ (145,384 ) $ (5,219 ) See accompanying notes to condensed consolidated financial Inc. and SubsidiariesCondensed Consolidated Statements of Changes in Unitholders' Deficit (Predecessor)(Unaudited) (in thousands, except share and per share amounts) Class BPreferred Class B-1Preferred Class A Class C AccumulatedDeficit AccumulatedOCI Non-ControllingInterest Total(Deficit)Equity December 31, 2023 38,122 3,323 1,950 844 (64,284 ) — 1,559 (18,486 ) Net loss — — — — (5,219 ) — (2,307 ) (7,526 ) Units issued to non-controlling interest — — — — — — 3,503 3,503 Issuance of preferred units, net of issuance costs 7,566 — — — — — — 7,566 Unit-based compensation — — — 51 — — 345 396 Issuance of units to non-controlling interest in exchange of convertible promissory notes — — — — — — 8,443 8,443 Accretion of redeemable units to redemption value — — — — (4,415 ) — — (4,415 ) March 31, 2024 $ 45,688 $ 3,323 $ 1,950 $ 895 $ (73,918 ) $ — $ 11,543 $ (10,519 ) See accompanying notes to condensed consolidated financial statements. Innventure, Inc. and SubsidiariesCondensed Consolidated Statements of Changes in Mezzanine and Stockholders' Equity (Deficit) (Successor)(Unaudited) (in thousands, except share and per share amounts) Stockholders' Equity MezzanineEquity PreferredStock CommonStock PreferredStock Shares Amount Shares Amount AdditionalPaid-InCapital AccumulatedDeficit AccumulatedOCI Non-ControllingInterest TotalStockholders'Equity Shares Amount December 31, 2024 1,102,000 $ — 44,597,154 $ 4 $ 502,865 $ (78,262 ) $ 909 $ 340,777 $ 766,293 — $ — Net loss — — — — — (142,997 ) — (110,677 ) (253,674 ) — — Series B Preferred Stock buyback (5,000 ) — — — (50 ) — — — (50 ) — — Series B Preferred Stock issued for paid-in-kind dividends 21,808 — — — 218 — — — 218 — — Issuance of common shares, net of issuance costs — — 161,964 — 1,927 — — — 1,927 — — Vesting of earnout shares — — 2,344,682 1 873 — — — 874 — — Other comprehensive gain, net of taxes — — — — — — (2,387 ) — (2,387 ) — — Conversion of related party notes — — — — — — — — — 2,310,848 23,108 Issuance of Series C Preferred Stock, net — — — — — — — — — 575,000 5,663 Non-controlling interest issued and related transfers — — — — (26,303 ) — — 33,249 6,946 — — Distributions to Stockholders — — — — — (26 ) — — (26 ) — — Stock-based compensation — — — — 4,943 — — 898 5,841 — — Accrued preferred dividends — — — — (217 ) — — — (217 ) — (44 ) March 31, 2025 1,118,808 $ — 47,103,800 $ 5 $ 484,256 $ (221,285 ) $ (1,478 ) $ 264,247 $ 525,745 2,885,848 $ 28,727 See accompanying notes to condensed consolidated financial Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(Unaudited) (in thousands, except share and per share amounts) Successor Predecessor Three months endedMarch 31, 2025 Three months endedMarch 31, 2024 Cash Flows Used in Operating Activities Net loss $ (253,674 ) $ (7,526 ) Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities: Stock-based compensation 5,841 396 Interest income on debt securities - related party (91 ) — Change in fair value of financial liabilities (16,429 ) 478 Change in fair value of payables due to related parties — 186 Non-cash interest expense on notes payable 510 230 Net (gain) loss on investments — (5,189 ) Equity method investment gain (loss) 6,756 (5 ) Realized gain on conversion of available for sale investments (1,507 ) — Loss on extinguishment of related party debt 3,538 — Loss on conversion of promissory notes — 1,119 Deferred income taxes (1,899 ) — Depreciation and amortization 5,548 — Goodwill impairment 233,213 — Payment of patent installment (525 ) — Non-cash rent costs 61 — Other, net — 67 Changes in operating assets and liabilities: Accounts receivable 46 — Prepaid expenses and other current assets (122 ) (136 ) Inventory (42 ) — Accounts payable 1,587 1,234 Accrued employee benefits 1,943 1,329 Accrued expenses 565 488 Stock-based compensation liability (442 ) — Income taxes payable 500 — Other current liabilities (73 ) (68 ) Net Cash Used in Operating Activities (14,696 ) (7,397 ) Cash Flows Used in Investing Activities Investment in available-for-sale debt securities - equity method investee (2,337 ) — Advances to equity method investee — (2,540 ) Acquisition of property, plant and equipment (917 ) (640 ) Net Cash Used in Investing Activities (3,254 ) (3,180 ) Cash Flows Provided by Financing Activities Proceeds from issuance of equity, net of issuance costs 3,675 7,116 Proceeds from the issuance of equity to non-controlling interest, net of issuance costs 4,907 3,503 Payment of debts (300 ) (460 ) Distributions to Stockholders (26 ) — Payment of promissory notes to related parties — — Repurchase of Preferred Stock (50 ) — Cash Flows Provided by Financing Activities 8,206 10,159 Net Decrease in Cash, Cash Equivalents and Restricted Cash (9,744 ) (418 ) Cash, Cash Equivalents and Restricted Cash Beginning of period 11,119 2,575 Cash, Cash Equivalents and Restricted Cash End of period $ 1,375 $ 2,157 See accompanying notes to condensed consolidated financial Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(Unaudited) (in thousands, except share and per share amounts) Successor Predecessor Three months endedMarch 31, 2025 Three months endedMarch 31, 2024 Supplemental Cash Flow Information Cash paid for interest $ 1,127 $ 55 Supplemental Disclosure of Noncash Financing Information Accretion of redeemable units to redemption value — 4,415 Issuance of units to non-controlling interest in exchange of convertible promissory notes — 7,324 Conversion of working capital loans to equity method investee into investments in debt securities - related party 4,375 — Extinguishment of debt with Series C Preferred Stock 14,000 — Contribution of Series C Preferred Stock to equity method investee 5,783 — Conversion of AFX available-for-sale term loan into equity method investments 8,757 — Issuance of stock in exchange for services 4,002 — Equity reallocation between non-controlling interest and additional paid-in capital 26,304 — See accompanying notes to condensed consolidated financial Inc. and SubsidiariesNon-GAAP Financial Measures(in thousands, except share and per share amounts) Successor Predecessor Three months endedMarch 31, 2025 Three months endedMarch 31, 2024 Net loss (253,674 ) (7,526 ) Interest expense, net(1) 1,538 405 Depreciation and amortization expense 5,548 — Income tax benefit (1,399 ) — EBITDA (247,987 ) (7,121 ) Transaction and other related costs(2) — 3,272 Change in fair value of financial liabilities(3) (16,429 ) 478 Stock-based compensation(4) 5,841 396 Goodwill impairment(5) 233,213 — Loss on extinguishment of related party debt(6) 3,538 — Loss on conversion of promissory notes — 1,119 Adjusted EBITDA (21,824 ) (1,856 ) (1) Interest Expense, net, includes interest incurred on our various borrowing facilities and the amortization of debt issuance costs. (2) Transaction and other related costs – For the three months ended March 31, 2025 (Successor) and three months ended March 31, 2024 (Predecessor), this is comprised of consulting, legal, and other professional fees related to the Business Combination.(3) Change in fair value of financial liabilities – For the three months ended March 31, 2025 (Successor), the change in fair value of financial liabilities primarily consists of the change in fair value of the warrant liability and the earnout liability. For the three months ended March 31, 2024 (Predecessor), this is comprised entirely of the change in fair value of the embedded derivative associated with the convertible notes.(4) Stock based compensation – For the three months ended March 31, 2025 (Successor), stock based compensation primarily consisted of awards in the 2024 Equity and Incentive Plan entered into on October 2, 2024 subsequent to the Business Combination. These awards consisted of Stock Options, Restricted Stock Units, and Stock Appreciation Rights. Further, a portion of this expense was related to share based payment employee incentive plans in existence at Innventure LLC and other subsidiaries. For the three months ended March 31, 2024 (Predecessor), stock based compensation was comprised wholly of share based payment employee incentive plans in existence at Innventure LLC and other subsidiaries.(5) Goodwill impairment - For the three months ended March 31, 2025 (Successor), the Company recognized a goodwill impairment charge due to sustained decreases in the Company's publicly quoted share price and market capitalization, which were, at least in part, sensitive to the general downward volatility experienced in the stock market during late February and March. There was no similar goodwill impairment charge for the three months ended March 31, 2024 (Predecessor).(6) Loss on extinguishment of related party debt - For the three months ended March 31, 2025 (Successor), the Company extinguished certain related party debts by issuing Series C Preferred Stock. There was no loss on extinguishment of related party debt for the three months ended March 31, 2024 (Predecessor).Sign in to access your portfolio
