Innventure Inc. shares dropped 44.73% in Thursday after-hours trading after the company reported second-quarter 2026 results and suspended its previously communicated 2026 revenue and cash flow expectations for Accelsius, its liquid-cooling business. The stock had finished the regular session up 2.27% at $3.60 before falling to $1.99 after the update. Second-quarter revenue rose to $953,000 from $476,000 a year earlier, while net loss narrowed to $34.9 million from $141.3 million. Loss attributable to Innventure shareholders improved to $26.5 million from $84.2 million, and basic and diluted loss per share improved to $0.32 from $1.60. The outlook change centered on evolving conditions in the AI infrastructure market, including power availability, GPU access and deployment timing. CEO Bill Haskell said the company remains confident in the long-term role of two-phase liquid cooling and is prioritizing milestones needed for scaled adoption. Innventure said Accelsius is focused on chip-maker relationships, reference designs, OEM and ODM co-development, hyperscaler relationships and additional thermal benchmark data.