Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 206

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 206
---
 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)%Depreciation and amortization of intangible assets4,5164,363153 3.5 %Operating (loss) income3$(56)$2,853$(2,909)(102.0)%Operating income % of total revenue— %2.4 %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