Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 168

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part II, Item 8
Chunk 168
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 and other operating expenses and excludes depreciation and amortization of intangible assets, which is separately stated3 Table may not foot due to rounding

RMS revenue decreased $7,162 in the six months ended March 31, 2025 compared to the six months ended March 31, 2024 due primarily to decreased NHP product and service revenue, mainly as a result of lower pricing in connection with the sale of NHPs.

RMS operating income was $10,247 in the six months ended March 31, 2025 compared to operating loss of $25,525 in the six months ended March 31, 2024, a change of $35,772. This change was primarily due to decreased operating expenses and decreased cost of revenue, partially offset by the decreased revenue discussed above. The $35,359 decrease in operating expenses was primarily due to the $26,500 million charge related to the Agreement in Principle (subsequently replaced by the Resolution Agreement and Plea Agreement) that was incurred during six months ended March 31, 2024, which did not repeat during the six months ended March 31, 2025, and the $7,550 settlement payment we received during the six months ended March 31, 2025 as a result of the complaint we filed against FNI. The decrease of $6,783 in cost of 

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revenue was primarily due to reduced transportation costs, reduced costs associated with lower NHP-related product and service revenue, lower non-NHP inventory costs and reduced utilities costs. 

Unallocated Corporate

Six Months EndedMarch 31,20252024$ Change% ChangeOperating expenses1$30,266$31,155$(889)(2.9)%Depreciation and amortization of intangible assets316253 6324.9 %Operating loss2$30,582$31,408$(826)(2.6)%Operating loss % of total revenue(12.5)%(12.3)%1Operating expenses include general and administrative and other operating expenses2Table may not foot due to rounding

Unallocated corporate operating loss consists of general and administrative expenses, other operating expenses and depreciation expenses that are not directly related or allocated to the reportable segments. The decrease in unallocated corporate operating loss was driven by a decrease in operating expenses of $889 in the six months ended March 31, 2025, compared to the six months ended March 31, 2024, which was primarily driven by reduced compensation and benefits