Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 209

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 209
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 months ended March 31, 2025, the Company’s effective tax rate was primarily driven by nondeductible expenses. For the three months ended March 31, 2024, the Company’s effective tax rate was primarily driven by unfavorable discrete adjustments related to the Agreement in Principle (subsequently replaced by the Resolution Agreement and Plea Agreement) and changes in valuation allowance, partially offset by a change in the Company's forecasted loss before income taxes.

Consolidated Net Loss

As a result of the factors described above, we had a consolidated net loss of $14,866 for the three months ended March 31, 2025 as compared to a consolidated net loss of $48,079 during the three months ended March 31, 2024.

Six Months Ended March 31, 2025 Compared to Six Months Ended March 31, 2024

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DSA

Six Months EndedMarch 31,20252024$ Change% ChangeRevenue$88,154$91,329$(3,175)(3.5)%Cost of revenue166,18163,6132,5684.0 %Operating expenses210,98414,498(3,514)(24.2)%Depreciation and amortization of intangible assets9,0998,7723273.7 %Operating income3$1,890$4,446$(2,556)(57.5)%Operating income % of total revenue0.8 %1.7 %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 $3,175 in the six months ended March 31, 2025 compared to the six months ended March 31, 2024. The decrease in DSA revenue was primarily driven by a decrease in discovery services revenue and decreased general toxicology services revenue. 

DSA operating income decreased by $2,556 in the six months ended March 31, 2025 compared to the six months ended March 31, 2024, primarily due to the decrease in revenue discussed above, an increase of $2,568 in cost of revenue and an increase of $327 in depreciation and amortization of intangible assets, partially offset by a decrease of $3,514