Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 317

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 1
Chunk 317
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 Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and 

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procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Ernst & Young LLP

Indianapolis, Indiana

December 5, 2025

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INOTIV, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands, except share amounts)

As of September 30, 20252024AssetsCurrent assets:Cash and cash equivalents$21,741 $21,432 Trade receivables and contract assets, net of allowances for credit losses of $6,397 and $6,931, respectively78,222 73,560 Inventories, net45,738 18,173 Prepaid expenses and other current assets48,890 50,248 Total current assets194,591 163,413 Property and equipment, net180,726 188,328 Operating lease right-of-use assets, net46,358 49,165 Goodwill94,286 94,286 Other intangible assets, net240,197 274,396 Other assets14,956 11,773 Total assets$771,114 $781,361 Liabilities and shareholders' equityCurrent liabilities:Accounts payable$48,531 $33,526 Accrued expenses and other liabilities44,722 28,218 Revolving credit facility3,000 — Fees invoiced in advance