Company: NOTV
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004178
Chunk: 32

Company: Inotiv, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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,174 Research Model Inventory28,676 14,870 Total34,647 20,973 Less: Obsolescence reserve(3,090)(2,800)Inventories, net$31,557 $18,173 Prepaid expenses and other current assets consisted of the following:December 31,September 30,20242024Advances to suppliers$14,812 $36,516 Prepaid research models4,434 4,993 Income tax receivable2,225 2,602 Note receivable1,335 1,280 Other6,855 4,857 Prepaid expenses and other current assets$29,661 $50,248 

24

The composition of other assets is as follows: December 31,September 30,20242024Long-term advances to suppliers$6,131 $6,082 Funded status of defined benefit plan2,986 3,142 Other2,214 2,549 Other assets$11,331 $11,773 Accrued expenses and other current liabilities consisted of the following: December 31,September 30,2024 2024Accrued compensation$8,807 $10,851 Non-income taxes4,197 4,409 Accrued interest1,455 3,017 Other6,041 4,941 Resolution and Plea Agreements (1)5,000 5,000 Accrued expenses and other current liabilities$25,500 $28,218 (1) Pursuant to the Resolution Agreement and Plea Agreement, the Company paid $6,500 during fiscal 2024 and expects to pay an additional $22,000 over multiple years. Accordingly, the Company has included $5,000 in accrued expenses and other current liabilities on the condensed consolidated balance sheets as of each of December 31, 2024 and September 30, 2024. The remaining $17,000 was included in other long-term liabilities on the condensed consolidated balance sheets as of each of December 31, 2024 and September 30, 2024 as described below.The composition of fees invoiced in advance is as follows: December 31,September 30,2024 2024Client deposits$28,902 $24,898 Deferred revenue17,227 17,088 Fees invoiced in advance