Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 219

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 219
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 Months Ended June 30, 2025

•Revenue was $374,882 in the nine months ended June 30, 2025, an increase of $14,560, or 4.0%, compared to $360,322 during the nine months ended June 30, 2024, driven by an increase of $13,804, or 6.1%, in RMS revenue and an increase of $756, or 0.6%, in DSA revenue.

•Consolidated net loss for the nine months ended June 30, 2025 was $60,073, or 16.0% of total revenue, compared to a consolidated net loss of $89,994, or 25.0% of total revenue, in the nine months ended June 30, 2024. 

•Book-to-bill ratio for the nine months ended June 30, 2025 was 1.03x for the DSA services business.

Highlights

•On June 2, 2025, the Securities and Exchange Commission (the "SEC") provided notice to the Company, through the Company’s external counsel, that the SEC’s Division of Enforcement (the “Division”) has concluded its previously-disclosed investigation related to NHP importations from Asia, including importation practices in accordance with the U.S. Foreign Corrupt Practices Act and, based on the information available to the Division as of the date of its letter, the Division does not intend to recommend an enforcement action by the SEC against the Company.

•In connection with Phase Two of our U.S. optimization plan, during the three months ended June 30, 2025, one property previously reported as held for sale was sold. As of June 30, 2025, one property remained under contract to be sold and continued to meet the held for sale criteria.

•As previously disclosed, the Company and certain of its current and former directors and officers have been named as defendants in a putative securities class action lawsuit and two consolidated shareholder derivative lawsuits. Although no agreements have been reached, based on current negotiations with the plaintiffs, the Company has recorded a $10,000 liability for these lawsuits as of June 30, 2025 and a 10,000 receivable, as the Company currently expects to recover the full amount of the accrual under its existing insurance policies. Although these amounts have been recorded to date, there can be no assurance that final agreements will be reached, on these or other terms. Final