What does InnVenture do and what are its main business segments?

What were the key takeaways from InnVenture's earnings call?

What is the market's earnings forecast for InnVenture next quarter?

What factors drove the changes in InnVenture's revenue and profit?

Did InnVenture beat or miss consensus estimates last quarter?

What is InnVenture's latest dividend and current dividend yield?

What guidance did InnVenture's management provide for the next earnings period?

What were the key takeaways from InnVenture’s earnings call?

- **Accelsius Breakthrough**: $1B+ pipeline with 75% 2026 production orders, $25M JCI investment, and NeuCool MR250 launch for 250kW cooling.
- **Financial Resilience**: $0.5M Q3 revenue, $14.1M cash, and $15M capital raises to fuel growth.
- **Q&A Insights**: 100+ active pipeline opportunities, no single customer concentration, and 2-3Q booking-to-revenue lag.

**【CEO Opening Remarks】**
- **Accelsius Momentum**: Q3 opportunity pipeline grew 79% QoQ to exceed $1B, with 75% representing 2026 production orders. NeuCool MR250 solution launched at OCP Summit, targeting 250kW cooling capacity. Johnson Controls’ $25M strategic investment validates technology leadership and scalability.
- **AeroFlexx Expansion**: 5th consecutive quarter of revenue across pet, baby, and industrial markets. Won CosmoPet Best Packaging Award and German Packaging Award, with BRCGS certification for manufacturing excellence.
- **Refinity Progress**: Demonstrated fluidized bed conversion of plastic waste to hydrocarbons at bench and pilot scale. Planning 2.5ktpa mid-scale demo in 2026, with full commercial scale targeting 150ktpa.

**【CFO Financial Commentary】**
- **Revenue & Expenses**: Q3 revenue $0.5M (primarily Accelsius PoCs). Total G&A expenses $16.9M (down 9% QoQ). Net loss $34.7M, Adjusted EBITDA loss $17.5M.
- **Balance Sheet**: $14.1M cash (up $3M YoY). Raised $15M via convertible debentures and $9.8M via equity pipe to support growth.

**【Q&A Highlights】**
- **Pipeline Composition**: Over 100 active opportunities, mostly $7-8M in value, with no single dominant customer. 75% of pipeline reflects follow-on orders from successful POCs.
- **Supply Chain Readiness**: Designed for North American dual-sourced components and partnered with contract manufacturers to scale production.
- **Booking Visibility**: Orders typically take 2-3 quarters to fulfill due to data center deployment complexity. Pipeline retention rate remains strong, with minimal attrition.
- **JCI Impact**: Strategic investment signals industry confidence, with potential commercial collaborations expected in coming quarters.

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