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Side-by-side financial comparison of Innventure, Inc. (INV) and Inspirato Inc (ISPO). Click either name above to swap in a different company.
Inspirato Inc is the larger business by last-quarter revenue ($55.5M vs $822.0K, roughly 67.6× Innventure, Inc.). Inspirato Inc runs the higher net margin — -8.1% vs -4593.8%, a 4585.7% gap on every dollar of revenue. Inspirato Inc produced more free cash flow last quarter ($-3.0M vs $-24.4M).
Innventure, Inc. is a business development and commercialization firm that partners with large global corporations to turn their underutilized intellectual property and unused R&D innovations into scalable, high-growth independent businesses. It focuses on sectors including sustainability, advanced materials and life sciences, serving primarily North American and European markets.
Inspirato Inc is a luxury travel and hospitality subscription service provider catering primarily to high-net-worth consumers across North America. It offers curated premium villa rentals, exclusive resort access, customized trip planning, and corporate travel incentive solutions for enterprise clients.
INV vs ISPO — Head-to-Head
Income Statement — Q4 2025 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $822.0K | $55.5M |
| Net Profit | $-37.8M | $-4.5M |
| Gross Margin | -1315.8% | 31.4% |
| Operating Margin | -3859.1% | -8.0% |
| Net Margin | -4593.8% | -8.1% |
| Revenue YoY | — | -19.6% |
| Net Profit YoY | — | -204.4% |
| EPS (diluted) | $-0.18 | $-0.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $822.0K | — | ||
| Q3 25 | $534.0K | $55.5M | ||
| Q2 25 | $476.0K | $63.1M | ||
| Q1 25 | $224.0K | $65.9M | ||
| Q4 24 | — | $63.1M | ||
| Q3 24 | $317.0K | $69.1M | ||
| Q2 24 | — | $67.4M | ||
| Q1 24 | — | $80.2M |
| Q4 25 | $-37.8M | — | ||
| Q3 25 | $-28.3M | $-4.5M | ||
| Q2 25 | $-84.2M | $-5.3M | ||
| Q1 25 | $-143.0M | $1.6M | ||
| Q4 24 | — | $-2.3M | ||
| Q3 24 | $-2.2M | $4.3M | ||
| Q2 24 | — | $-8.7M | ||
| Q1 24 | — | $1.3M |
| Q4 25 | -1315.8% | — | ||
| Q3 25 | -676.6% | 31.4% | ||
| Q2 25 | -501.1% | 27.5% | ||
| Q1 25 | 17.9% | 38.8% | ||
| Q4 24 | — | 34.7% | ||
| Q3 24 | -145.1% | 71.5% | ||
| Q2 24 | — | 24.0% | ||
| Q1 24 | — | 39.5% |
| Q4 25 | -3859.1% | — | ||
| Q3 25 | -5469.1% | -8.0% | ||
| Q2 25 | -29952.5% | -8.3% | ||
| Q1 25 | -116606.3% | 2.5% | ||
| Q4 24 | — | -3.2% | ||
| Q3 24 | -4313.6% | 9.8% | ||
| Q2 24 | — | -22.8% | ||
| Q1 24 | — | 3.0% |
| Q4 25 | -4593.8% | — | ||
| Q3 25 | -5305.6% | -8.1% | ||
| Q2 25 | -17694.7% | -8.4% | ||
| Q1 25 | -63837.9% | 2.5% | ||
| Q4 24 | — | -3.6% | ||
| Q3 24 | -697.5% | 6.3% | ||
| Q2 24 | — | -12.9% | ||
| Q1 24 | — | 1.6% |
| Q4 25 | $-0.18 | — | ||
| Q3 25 | $-0.51 | $-0.36 | ||
| Q2 25 | $-1.60 | $-0.42 | ||
| Q1 25 | $-3.10 | $0.12 | ||
| Q4 24 | — | $0.98 | ||
| Q3 24 | $-0.94 | $0.62 | ||
| Q2 24 | — | $-2.33 | ||
| Q1 24 | — | $-0.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $60.4M | $13.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $204.2M | $-134.0M |
| Total Assets | $599.2M | $228.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.4M | — | ||
| Q3 25 | $9.1M | $13.7M | ||
| Q2 25 | $7.0M | $16.7M | ||
| Q1 25 | — | $16.4M | ||
| Q4 24 | — | $21.8M | ||
| Q3 24 | — | $13.5M | ||
| Q2 24 | — | $18.8M | ||
| Q1 24 | — | $22.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $14.9M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $204.2M | — | ||
| Q3 25 | $190.8M | $-134.0M | ||
| Q2 25 | $218.6M | $-129.7M | ||
| Q1 25 | $261.5M | $-125.2M | ||
| Q4 24 | — | $-129.9M | ||
| Q3 24 | $-22.3M | $-134.6M | ||
| Q2 24 | — | $-35.2M | ||
| Q1 24 | — | $-27.5M |
| Q4 25 | $599.2M | — | ||
| Q3 25 | $556.5M | $228.3M | ||
| Q2 25 | $556.0M | $252.6M | ||
| Q1 25 | $660.4M | $270.1M | ||
| Q4 24 | — | $273.9M | ||
| Q3 24 | $55.7M | $273.3M | ||
| Q2 24 | — | $301.7M | ||
| Q1 24 | — | $313.0M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-24.4M | $-2.2M |
| Free Cash FlowOCF − Capex | $-24.4M | $-3.0M |
| FCF MarginFCF / Revenue | -2968.5% | -5.4% |
| Capex IntensityCapex / Revenue | 5.6% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-82.1M | $-4.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-24.4M | — | ||
| Q3 25 | $-19.6M | $-2.2M | ||
| Q2 25 | $-22.1M | $1.1M | ||
| Q1 25 | $-14.7M | $-6.6M | ||
| Q4 24 | — | $6.9M | ||
| Q3 24 | — | $-13.7M | ||
| Q2 24 | — | $-1.8M | ||
| Q1 24 | — | $-7.2M |
| Q4 25 | $-24.4M | — | ||
| Q3 25 | $-20.0M | $-3.0M | ||
| Q2 25 | $-22.1M | $468.0K | ||
| Q1 25 | $-15.6M | $-7.5M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | — | $-14.8M | ||
| Q2 24 | — | $-3.7M | ||
| Q1 24 | — | $-8.5M |
| Q4 25 | -2968.5% | — | ||
| Q3 25 | -3747.8% | -5.4% | ||
| Q2 25 | -4637.2% | 0.7% | ||
| Q1 25 | -6970.1% | -11.4% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | — | -21.5% | ||
| Q2 24 | — | -5.5% | ||
| Q1 24 | — | -10.6% |
| Q4 25 | 5.6% | — | ||
| Q3 25 | 82.2% | 1.4% | ||
| Q2 25 | 3.2% | 1.0% | ||
| Q1 25 | 409.4% | 1.3% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 1.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -4.09× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -3.16× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -5.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INV
Segment breakdown not available.
ISPO
| Residence And Hotel Travel | $25.9M | 47% |
| Subscription | $19.4M | 35% |
| Experiences And Bespoke Travel | $8.0M | 14% |
| Rewards And Other Revenue | $2.3M | 4% |
