Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 67

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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, 2025 compared to $129,916 at September 30, 2024 and $142,082 at March 31, 2024.

Financial Highlights During Six Months Ended March 31, 2025

•Revenue was $244,199 in the six months ended March 31, 2025, a decrease of $10,337 or 4.1%, compared to $254,536 during the six months ended March 31, 2024, driven by a decrease of $7,162, or 4.4%, in RMS revenue and a $3,175, or 3.5%, decrease in DSA revenue.

•Consolidated net loss for the six months ended March 31, 2025 was $42,496, or 17.4% of total revenue, compared to consolidated net loss of $63,907, or 25.1% of total revenue, in the six months ended March 31, 2024. 

•Book-to-bill ratio for the six months ended March 31, 2025 was 1.01x for the DSA services business.

Highlights

•Two properties are under contract to be sold and are held for sale as of March 31, 2025 in connection with our U.S. optimization plans.

•As we have continued to work through our optimization plans, we now expect our current U.S. optimization plans to be complete by the end of the second quarter of fiscal 2026.

•On February 14, 2025, the Company (through two of its subsidiaries) entered into a Settlement Agreement (the “Settlement Agreement”) with Freese and Nichols, Inc. ("FNI") to settle a lawsuit that the Company had filed against FNI, which provides that the parties fully resolve all claims set forth in such lawsuit, without any admission of liability. The Company received the $7,550 settlement payment in full prior to March 31, 2025.

Results of Operations

36

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

DSA

(in thousands, except percentages)Three Months EndedMarch 31,20252024$ Change% ChangeRevenue$45,332$46,631$(1,299)(2.8)%Cost of revenue135,36931,9643,405 10.7 %Operating expenses25,5037,451(1,948)(26.1)%