Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 269

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 1
Chunk 269
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 nonclinical studies directly on-site at closely located research model facilities and provide access to innovative genetically engineered models and services solutions. Our principal clients include biopharmaceutical companies, CROs, and academic and government organizations. 

Our business development efforts focus on both expanding existing client relationships and acquiring new clients. Historically, our RMS segment has maintained stable, long-term relationships with a majority of our clients due to their overarching preference for consistency in the products they use to conduct their studies. However, we are continuing our efforts to cross-sell and expand our client base. We believe our DSA segment, due to its broad menu of services and flexibility in study design, is well positioned to serve the emerging biopharmaceutical segment during the discovery and development phases. 

43

Site Optimization and Transportation

During the twelve months ended September 30, 2025, we moved forward with many of our strategic objectives, which include strengthening the Company’s liquidity position, reducing NHP revenue volatility, continuing to focus on client satisfaction and client relationships, and continuing integration efforts. Our December 2024 equity offering provided net proceeds of $27,524. This funding assisted in reducing liquidity risk and allowed us to continue to make strategic long-term decisions, while providing additional operational stability.

In an effort to reduce revenue volatility, we have expanded our NHP client base for calendar year 2025 and have continued to pre-sell our NHP inventory, which helped deliver a more consistent revenue stream in fiscal 2025 as compared to fiscal 2024, and we believe will continue to assist in a more consistent revenue stream for fiscal 2026. In addition, we expect our revenue from our long-term colony management services to continue to increase in calendar year 2026 as compared to calendar year 2025. During the twelve months ended September 30, 2025, we continued to invest in our NHP facilities in order to support our growth initiatives.

Further, in fiscal 2025, 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.

Beginning in fiscal year 2022, we have been executing on our restructuring and site optimization plans. These plans included the sale of our Israeli businesses in fiscal year 2023, in addition to the closure and relocation of multiple RMS facilities ("Phase One") by the end of fiscal year 2024. By the end of fiscal year 2025, we