Company: NOTV
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004178
Chunk: 141

Company: Inotiv, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part II, Item 8
Chunk 141
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, 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. 

We previously announced we would continue our site optimization plan for the RMS business. This includes closing and relocating operations for three additional U.S. sites, while expanding an existing leased location. We are currently in the process of executing on this initiative, which we expect to complete by the end of fiscal 2026. Our production capacity is expected to be unchanged. Once completed, we expect approximately $4,000 to $5,000 in annual cost savings from lower cost of production and reduced repair and maintenance expense on facilities, along with improved service for clients.

Refer to Note 8 – Restructuring and Assets Held for Sale in our condensed consolidated financial statements contained in Part I, Item 1 for more information related to the site optimizations.

34

Financial Highlights During Three Months Ended December 31, 2024

•Revenue was $119,876 in the three months ended December 31, 2024, a decrease of $15,625 or 11.5%, compared to $135,501 during the three months ended December 31, 2023, driven by a decrease of $13,749, or 15.1%, in RMS revenue and a $1,876, or 4.2%, decrease in DSA revenue.

•Consolidated net loss for three months ended December 31, 2024 was $27,630, or 23.0% of total revenue, compared to consolidated net loss of $15,828, or 11.7% of total revenue, in three months ended December 31, 2023. 

•Book-to-bill ratio for the three months ended December 31, 2024 was 1.01x for the DSA services business.

•DSA backlog was $130,392 at December 31, 2024 compared to $129,916 at September 30, 2024 and $152,300 at December 31, 2023.

Results of Operations

Three Months Ended December 31, 2024 Compared to Three Months Ended December 31, 2023

DSA

Three Months EndedDecember 31,20242023$ Change% ChangeRevenue$42,822$44,698$(1,876)(4.2)%Cost of revenue130,81231,649(837)(