Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 215

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 215
---
 products we provide increasingly valuable to our current and potential clients. Our principal clients are companies whose scientists are engaged in analytical chemistry, drug safety evaluation, clinical trials, drug metabolism studies, pharmacokinetics and basic research, from small start-up biotechnology companies to some of the largest global pharmaceutical companies.

Through our RMS segment, we offer access to a wide range of small and large purpose-bred animal research models for basic research and drug discovery and development, as well as specialized models for specific diseases and therapeutic areas, in addition to diet, bedding and enrichment products. We provide deep animal husbandry expertise and expanded access to scientists across the discovery and preclinical continuum, which can reduce nonclinical lead times and provide enhanced project delivery. In conjunction with our DSA business, we have the ability to run selected nonclinical studies directly on-site at closely located research model facilities and provide access to innovative genetically engineered models and services solutions. Our principal clients include biopharmaceutical companies, CROs, and academic and government organizations.

Site Optimization and Transportation

During the nine months ended June 30, 2025, we moved forward with many of our strategic objectives which include strengthening the Company’s liquidity position, reducing NHP revenue volatility, continuing to focus on client satisfaction and client relationships and continuing integration efforts. Our December 2024 equity offering provided net proceeds of $27,524. This additional equity assisted in reducing liquidity risk and allowed us to continue to make strategic long-term decisions, while providing additional operational stability. 

In an effort to reduce revenue volatility, we have expanded our NHP client base for calendar 2025 and have continued to pre-sell our NHP inventory, which we believe has and will continue to deliver a more consistent revenue stream as compared to fiscal 2024. In addition, we expect our revenue from our long-term colony management services to continue to increase in calendar 2025 as compared to calendar 2024. During the nine months ended June 30, 2025, we continued to invest in our NHP facilities in order to support our growth initiatives. 

Further, we continued to make progress integrating and improving our North American transportation and distribution systems, which we brought in house during fiscal 2024. This has provided an improved client experience and improved our operational efficiency. 

From fiscal year 2022 through the end of fiscal year 2024, we executed on our restructuring and site optimization plans. These plans included the sale of our Israeli businesses in fiscal year 2023 in addition to the closure and relocation of