Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 221

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 221
---
,96634.1 %Cost of revenue161,44352,1089,33517.9 %Operating expenses25,3477,505(2,158)(28.8)%Depreciation and amortization of intangible assets9,3659,401(36)(0.4)%Operating income (loss)3$6,378$(7,447)$13,825185.6 %Operating income (loss) % of total revenue4.9 %(7.0)%1Cost of revenue includes cost of services provided and cost of products sold and excludes depreciation and amortization of intangible assets, which is separately stated2Operating expenses include selling, general and administrative and other operating expenses and excludes depreciation and amortization of intangible assets, which is separately stated3Table may not foot due to rounding

RMS revenue increased $20,966 in the three months ended June 30, 2025 compared to the three months ended June 30, 2024, primarily due to higher NHP volumes sold and higher average selling prices for NHPs compared to the prior year quarter.

RMS operating income was $6,378 in the three months ended June 30, 2025 compared to an operating loss of $7,447 in the three months ended June 30, 2024, a change of $13,825, due primarily to the increase in revenue discussed above and decreased operating expenses, partially offset by increased cost of revenue. The $2,158 decrease in operating expenses was primarily due to the $2,000 charge incurred during the three months ended June 30, 2024 related to the Resolution Agreement and Plea Agreement between the Company and the U.S. Department of Justice ("DOJ") entered into to resolve an investigation by the DOJ, which did not repeat during the three months ended June 30, 2025. The $9,335 increase in cost of revenue primarily related to increased costs associated with the increased NHP related product and service revenue 

40

from increased volumes as discussed above, partially offset by reduced non-NHP inventory costs and reduced facility-related expenses. 

Unallocated Corporate

(in thousands, except percentages)Three Months EndedJune 30,20252024$ Change% ChangeOperating expenses1$14,026$15,400$(1,374)(8.9)%Depreciation176230(54)(23.5)%Operating loss2$14,202$15,630$(1,428)(9.