Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 148

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part II, Item 8
Chunk 148
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 months ended March 31, 2025 and 2024 were:Three Months EndedMarch 31,Six Months EndedMarch 31,2025202420252024Operating lease costs: Fixed operating lease costs$3,403 $3,491 $6,842 $6,594 Lease income(532)(794)(1,232)(1,558)Financing lease costs:Amortization of ROU asset expense$123 $28 $149 $36 Interest on finance lease liability108 8 132 9 Total operating lease cost$3,102 $2,733 $5,891 $5,081 The Company serves as lessor to a lessee in eight facilities. The gross rental income and underlying lease expense are presented net in the Company’s condensed consolidated statements of operations. The rent receivables and underlying lease liabilities are presented gross in the Company’s condensed consolidated balance sheets.Supplemental cash flow information related to leases was as follows:Six Months EndedMarch 31,20252024Cash flows included in the measurement of lease liabilities: Operating cash flows from operating leases$6,461 $5,762 Operating cash flows from finance leases131 42 Financing cash flows from finance leases136 9 Non-cash lease activity: ROU assets obtained in exchange for new operating lease liabilities$3,194 $12,441 ROU assets obtained in exchange for new finance lease liabilities2,294 191 

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The weighted average remaining lease term and discount rate for the Company’s operating leases as of March 31, 2025 and 2024 were:March 31, 2025March 31, 2024Weighted-average remaining lease term (in years)Operating lease9.098.91Finance lease6.302.63Weighted-average discount rate (in percentages) Operating lease12.53 %11.84 %Finance lease12.66 %12.57 %Lease duration was determined utilizing renewal options that the Company is reasonably certain to execute.As of March 31, 2025, maturities of operating and finance lease liabilities for each of the following five fiscal years and a total thereafter were as follows:Operating LeasesFinance Leases2025 (remainder of fiscal year)$4,822 $372 202611,739 740 20279,804 712 20288,619 683 202