Company: NOTV
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004178
Chunk: 48

Company: Inotiv, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 2024

•Revenue was $119,876 in the three months ended December 31, 2024, a decrease of $15,625 or 11.5%, compared to $135,501 during the three months ended December 31, 2023, driven by a decrease of $13,749, or 15.1%, in RMS revenue and a $1,876, or 4.2%, decrease in DSA revenue.

•Consolidated net loss for three months ended December 31, 2024 was $27,630, or 23.0% of total revenue, compared to consolidated net loss of $15,828, or 11.7% of total revenue, in three months ended December 31, 2023. 

•Book-to-bill ratio for the three months ended December 31, 2024 was 1.01x for the DSA services business.

•DSA backlog was $130,392 at December 31, 2024 compared to $129,916 at September 30, 2024 and $152,300 at December 31, 2023.

Results of Operations

Three Months Ended December 31, 2024 Compared to Three Months Ended December 31, 2023

DSA

Three Months EndedDecember 31,20242023$ Change% ChangeRevenue$42,822$44,698$(1,876)(4.2)%Cost of revenue130,81231,649(837)(2.6)%Operating expenses25,4817,047(1,566)(22.2)%Depreciation and amortization of intangible assets4,5834,4091743.9 %Operating income3$1,946$1,593$35322.2 %Operating income % of total revenue1.6 %1.2 %1Cost of revenue includes cost of services provided and cost of products sold and excludes depreciation and amortization of intangible assets, which is separately stated2Operating expenses include selling, general and administrative and other operating expenses and excludes depreciation and amortization of intangible assets, which is separately stated3Table may not foot due to rounding

DSA revenue decreased $1,876 in the three months ended December 31, 2024 compared to the three months ended December 31, 2023. The decrease in DSA revenue was primarily driven by a decrease in discovery service revenue. 

DSA operating income increased by $353 in the