The importance of breakthrough innovation as a source of organizational value creation has attracted considerable interest among scholars and practitioners alike. Despite the prevalent use of the term breakthrough, we still lack an understanding of its core definition, structure, and integrative connection with other forms of technological innovation. Breakthrough is often defined and synonymously used with radical, disruptive, or discontinuous innovation. This creates misconceptions in comprehending how various innovations should be conceptualized. Using 86 research articles published between 1990 and 2022, we conducted a systematic literature review and bibliometric analysis to uncover patterns and themes that evolved while defining breakthrough innovation. We also proposed a Configuration-Application-Performance (CAP) framework that evaluates types of innovations and their thematic linkages. This framework allows us to resolve some myths about how breakthrough innovation has been conceptualized and operationalized. It also helps practitioners and future researchers understand breakthroughs from an innovation performance perspective. Our nuanced review enables us to open new areas for future research opportunities. © 2023 Elsevier Inc.