Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 216

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 216
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,405 for depreciation and amortization, $3,781 for non-cash stock compensation expense, non-cash interest and accretion expense of $3,336 and amortization of debt issuance costs and original issue discount of $1,686, partially offset by changes in deferred taxes of $10,391.

Net cash used in investing activities of $9,910 in the six months ended March 31, 2025 was primarily due to capital expenditures of $9,932. The capital additions during the six months ended March 31, 2025 primarily consisted of investments in facility improvements for animal welfare and capacity expansions to support future NHP colony management service revenue growth. 

Net cash used in investing activities of $8,630 in the six months ended March 31, 2024 was primarily due to capital expenditures of $12,594. The capital additions during the six months ended March 31, 2024 primarily consisted of investments in facility improvements, site expansions, enhancements to laboratory technology, improvements for animal welfare and system enhancements to improve the client experience. Partially offsetting these capital expenditures were net investing cash inflows of $3,964 related to the proceeds from the sale of property and equipment, which primarily related to the sale of various sites in connection with our site optimization strategy.

Net cash provided by financing activities of $25,493 in the six months ended March 31, 2025 primarily included net proceeds from the issuance of common shares of $27,524 and borrowings on the revolving credit facility of $20,000, partially offset by payments on the revolving credit facility of $20,000.

Net cash used in financing activities of $4,094 in the six months ended March 31, 2024 included other net financing payments of $2,712 and principal payments of $1,382 on the senior term notes and delayed draw term loans.

Capital Resources

42

Long-term debt as of March 31, 2025 and September 30, 2024 is detailed in the table below. 

March 31, 2025September 30, 2024Seller Note – Bolder BioPath (Related party)$263 $376 Seller Note – Preclinical Research Services— 464 Seller Payable - Orient BioResource Center3,235 3,700 Seller Note – Histion (Related party)12 84 Second Lien Notes20,485 17,846 Convertible Senior Notes113,124 109,979 Term Loan