Company: NOTV
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004178
Chunk: 13

Company: Inotiv, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 with the advanced billings also being excluded from client receivables. The Company excluded approximately $8,500 and $10,399 of unpaid advanced client billings from both client receivables and deferred revenue as of December 31, 2024 and September 30, 2024, respectively.The Company expects approximately 80% of deferred revenue to be recognized as revenue within the next twelve months and the remainder to be recognized thereafter during the remaining contract term.Changes in the contract asset and the contract liability balances during the three months ended December 31, 2024 include the following: •Changes in the time frame for a right for consideration to become unconditional – approximately 50% of unbilled revenue as of September 30, 2024, was billed during the three months ended December 31, 2024; and•Changes in the time frame for a performance obligation to be satisfied – approximately 50% of deferred revenue as of September 30, 2024, was recognized as revenue during the three months ended December 31, 2024.

3.    SEGMENT AND GEOGRAPHIC INFORMATIONSegment InformationDuring the three months ended December 31, 2024 and 2023, the RMS segment reported intersegment revenue of $1,272 and $896, respectively, related to sales to the DSA segment. The following table presents revenue, operating income (loss) and other results of operations by reportable segment for the three months ended December 31, 2024 and 2023: Three Months EndedDecember 31, 20242023RevenueDSA:Service revenue$41,843 $43,563 Product revenue979 1,135 RMS:Service revenue11,714 10,300 Product revenue65,340 80,503 $119,876 $135,501 Operating Income (Loss)DSA$1,946 $1,593 RMS(1,185)5,078 Unallocated Corporate(16,268)(16,042)$(15,507)$(9,371)Interest expense(13,838)(11,364)Other (expense) income(463)1,413 Loss before income taxes$(29,808)$(19,322)

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The following table presents depreciation and amortization and capital expenditures by reportable segment for the three months ended December 31, 2024 and 2023:Three Months EndedDecember 31,20242023Depreciation and