Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 70

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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 2025 compared to the three months ended March 31, 2024, primarily driven by an increase of $2,358 in interest expense, largely due to interest incurred in relation to the Second Lien Notes (as defined below) issued in September 2024.

Income Taxes

The Company’s effective tax rates for the three months ended March 31, 2025 and 2024 were 6.9% and 11.7%, respectively. For the three 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