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Side-by-side financial comparison of Innventure, Inc. (INV) and Lucid Diagnostics Inc. (LUCD). Click either name above to swap in a different company.
Lucid Diagnostics Inc. is the larger business by last-quarter revenue ($1.2M vs $822.0K, roughly 1.5× Innventure, Inc.). Lucid Diagnostics Inc. runs the higher net margin — -858.5% vs -4593.8%, a 3735.2% gap on every dollar of revenue.
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.
Lucid Diagnostics Inc. is a commercial-stage medical diagnostics firm focused on non-invasive screening tests for upper gastrointestinal diseases, including early detection of esophageal cancer and pre-cancerous lesions. It mainly serves healthcare providers and clinical partners across the United States, targeting at-risk patient populations.
INV vs LUCD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $822.0K | $1.2M |
| Net Profit | $-37.8M | $-10.4M |
| Gross Margin | -1315.8% | — |
| Operating Margin | -3859.1% | -971.0% |
| Net Margin | -4593.8% | -858.5% |
| Revenue YoY | — | 3.3% |
| Net Profit YoY | — | 16.0% |
| EPS (diluted) | $-0.18 | $-0.10 |
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 | $1.2M | ||
| Q2 25 | $476.0K | $1.2M | ||
| Q1 25 | $224.0K | $828.0K | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | $317.0K | $1.2M | ||
| Q2 24 | — | $976.0K | ||
| Q1 24 | — | $1.0M |
| Q4 25 | $-37.8M | — | ||
| Q3 25 | $-28.3M | $-10.4M | ||
| Q2 25 | $-84.2M | $-4.4M | ||
| Q1 25 | $-143.0M | $-26.9M | ||
| Q4 24 | — | $-11.5M | ||
| Q3 24 | $-2.2M | $-12.4M | ||
| Q2 24 | — | $-11.0M | ||
| Q1 24 | — | $-10.6M |
| Q4 25 | -1315.8% | — | ||
| Q3 25 | -676.6% | — | ||
| Q2 25 | -501.1% | — | ||
| Q1 25 | 17.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -145.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -3859.1% | — | ||
| Q3 25 | -5469.1% | -971.0% | ||
| Q2 25 | -29952.5% | -978.8% | ||
| Q1 25 | -116606.3% | -1508.1% | ||
| Q4 24 | — | -1033.8% | ||
| Q3 24 | -4313.6% | -997.8% | ||
| Q2 24 | — | -1146.7% | ||
| Q1 24 | — | -1078.1% |
| Q4 25 | -4593.8% | — | ||
| Q3 25 | -5305.6% | -858.5% | ||
| Q2 25 | -17694.7% | -381.7% | ||
| Q1 25 | -63837.9% | -3249.8% | ||
| Q4 24 | — | -964.2% | ||
| Q3 24 | -697.5% | -1055.5% | ||
| Q2 24 | — | -1127.6% | ||
| Q1 24 | — | -1060.1% |
| Q4 25 | $-0.18 | — | ||
| Q3 25 | $-0.51 | $-0.10 | ||
| Q2 25 | $-1.60 | $-0.08 | ||
| Q1 25 | $-3.10 | $-0.52 | ||
| Q4 24 | — | $-0.17 | ||
| Q3 24 | $-0.94 | $-0.25 | ||
| Q2 24 | — | $-0.23 | ||
| Q1 24 | — | $-0.40 |
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 | $47.3M |
| Total DebtLower is stronger | $8.3M | — |
| Stockholders' EquityBook value | $204.2M | $25.8M |
| Total Assets | $599.2M | $53.2M |
| Debt / EquityLower = less leverage | 0.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.4M | — | ||
| Q3 25 | $9.1M | $47.3M | ||
| Q2 25 | $7.0M | $31.1M | ||
| Q1 25 | — | $25.2M | ||
| Q4 24 | — | $22.4M | ||
| Q3 24 | — | $14.5M | ||
| Q2 24 | — | $24.9M | ||
| Q1 24 | — | $24.8M |
| Q4 25 | $8.3M | — | ||
| Q3 25 | $29.5M | — | ||
| Q2 25 | $16.8M | — | ||
| Q1 25 | $12.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $14.9M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $204.2M | — | ||
| Q3 25 | $190.8M | $25.8M | ||
| Q2 25 | $218.6M | $7.9M | ||
| Q1 25 | $261.5M | $-5.4M | ||
| Q4 24 | — | $5.4M | ||
| Q3 24 | $-22.3M | $6.3M | ||
| Q2 24 | — | $16.0M | ||
| Q1 24 | — | $11.9M |
| Q4 25 | $599.2M | — | ||
| Q3 25 | $556.5M | $53.2M | ||
| Q2 25 | $556.0M | $38.7M | ||
| Q1 25 | $660.4M | $32.8M | ||
| Q4 24 | — | $30.7M | ||
| Q3 24 | $55.7M | $22.6M | ||
| Q2 24 | — | $34.1M | ||
| Q1 24 | — | $32.0M |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-80.7M | $-10.9M |
| Free Cash FlowOCF − Capex | $-82.1M | — |
| FCF MarginFCF / Revenue | -9987.8% | — |
| Capex IntensityCapex / Revenue | 172.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-139.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-80.7M | — | ||
| Q3 25 | $-19.6M | $-10.9M | ||
| Q2 25 | $-22.1M | $-10.5M | ||
| Q1 25 | $-14.7M | $-12.5M | ||
| Q4 24 | — | $-9.9M | ||
| Q3 24 | — | $-10.2M | ||
| Q2 24 | — | $-11.5M | ||
| Q1 24 | — | $-12.6M |
| Q4 25 | $-82.1M | — | ||
| Q3 25 | $-20.0M | — | ||
| Q2 25 | $-22.1M | — | ||
| Q1 25 | $-15.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -9987.8% | — | ||
| Q3 25 | -3747.8% | — | ||
| Q2 25 | -4637.2% | — | ||
| Q1 25 | -6970.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 172.4% | — | ||
| Q3 25 | 82.2% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 409.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
