Company: NEOG
Filing Date: 2025-04-09
Form Type: 10-Q
Source: 0000950170-25-052497
Chunk: 1

Company: NEOGEN CORP
Filing Date: 2025-04-09
Form: 10-Q
Item: Item 1
Chunk 1
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Neogen Corporation 

Condensed Consolidated Balance Sheets

(in thousands, except shares)

     February 28, 2025

     May 31, 2024

     Assets
      
     (unaudited)

     Current Assets

     Cash and cash equivalents
      
     $
     127,705

     $
     170,611

     Marketable securities

     —

     325

     Accounts receivable, net of allowance of $5,305 and $4,140

     160,068

     173,005

     Inventories

     Raw materials

     75,047

     78,799

     Work-in-process

     14,305

     10,990

     Finished goods

     136,250

     111,839

     225,602

     201,628

     Less inventory reserve

     (20,160
     )

     (12,361
     )

     Inventories, net

     205,442

     189,267

     Prepaid expenses and other current assets

     58,498

     56,025

     Total Current Assets

     551,713

     589,233

     Net Property and Equipment

     327,838

     277,104

     Other Assets

     Right of use assets

     17,314

     14,785

     Goodwill (note 5)

     1,671,705

     2,135,632

     Intangible assets, net

     1,439,237

     1,511,653

     Other non-current assets

     28,529

     20,426

     Total Assets
      
     $
     4,036,336

     $
     4,548,833

     Liabilities and Stockholders’ Equity

     Current Liabilities

     Current portion of finance lease
      
     $
     2,501

     $
     2,447

     Accounts payable

     72,240

     83,061

     Accrued compensation

     18,335

     19,949

     Income tax payable

     12,924

     10,449

     Accrued interest

     3,438

     10,985

     Deferred revenue

     5,769

     4,632