Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 8

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 1A
Chunk 8
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 capital, its ability to comply with its Credit Agreement and its normal business operations, among other implications.

25

Our management concluded that our disclosure controls and procedures and our internal control over financial reporting were not effective as of September 30, 2025 and as of prior dates due to material weaknesses in internal control over financial reporting. If we are unable to remediate these material weaknesses and maintain an effective system of disclosure controls and procedures and internal control over financial reporting, we may not be able to accurately report our financial results in a timely manner, which may adversely affect investor confidence in us and materially and adversely affect our business and financial results.

Our management concluded that our disclosure controls and procedures and our internal control over financial reporting were not effective as of September 30, 2025, 2024 and 2023 due to material weaknesses in internal controls, as described further in Part III, Item 9A – Controls and Procedures.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected and corrected on a timely basis. Effective internal controls are necessary for us to provide reliable financial reports and prevent fraud. Although we have taken and continue to take, steps to remediate the material weaknesses, as of September 30, 2025, they have not been remediated and there is no assurance that any remediation efforts will ultimately have the intended effects. 

If we identify any new material weaknesses in the future, any such newly identified material weakness could limit our ability to prevent or detect a misstatement of our accounts or disclosures that could result in a material misstatement of our annual or interim financial statements. In such case, we may be unable to maintain compliance with securities law requirements regarding timely filing of periodic reports in addition to applicable stock exchange listing requirements, investors may lose confidence in our financial reporting and our stock price may decline as a result. We cannot assure you that the measures we have taken to date, or any measures we may take in the future, will be sufficient to avoid potential future material weaknesses. 

Risks Related to NHP Supply and Demand

Our business, results of operations, financial condition, including the carrying value of certain of our assets, and cash flows have been, and may continue to be, adversely affected by our dependence on the importation of non-human primates ("NHPs") from suppliers located outside the U.S., particularly from certain countries in Southeast