Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 51

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 7
Chunk 51
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2025 and fiscal 2024 was $19,143 and $21,875, respectively. For fiscal year 2025, the benefit from income taxes primarily related to deferred tax benefits on the pre-tax loss and a decrease in valuation allowances as a result of changes in U.S. federal tax regulation, partially offset by unfavorable permanent items. The benefit from income taxes for fiscal year 2024 primarily related to deferred tax benefits on the pre-tax loss, partially offset by unfavorable permanent items related to the Resolution and Plea Agreements, an increase in valuation allowances and other permanent items. 

Consolidated Net Loss

As a result of the above described factors, we had a consolidated net loss of $68,625 for the twelve months ended September 30, 2025, as compared to a consolidated net loss of $108,885 for the twelve months ended September 30, 2024.

Liquidity and Capital Resources

During the fiscal year ended September 30, 2025, revenue and operating loss were $513,024 and $30,902, respectively, as compared to $490,739 and $86,406, respectively, in the fiscal year ended September 30, 2024. Despite these results, the Company had negative operating cash flows, operating losses and net losses. As of September 30, 2025, the Company has cash and cash equivalents of $21,741 and access to a $15,000 revolver, which had a $3,000 balance outstanding as of September 30, 2025. The Company was in compliance with its financial covenants under its Credit Agreement as of September 30, 2025. If the Company's results of operations in the twelve months following the date of this report do not improve relative to its fiscal 2025 results, the Company will be at risk of non-compliance with its financial covenants under its Credit Agreement. Further, the Company's Term Loan Facility, Delayed Draw Term Loan and Incremental Term Loans mature in the next 12 months. 

If at any time in the twelve months following the date of this report, the Company fails to comply with its financial covenants which remains unremedied for the period of time stipulated under the Credit Agreement, this would constitute an event of default under the Credit Agreement and the lenders may, among other remedies set out under the Credit Agreement, declare all or any portion of the outstanding principal amount of the borrowings plus accrued and unpaid interest to be immediately