Company: NOTV
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004178
Chunk: 1

Company: Inotiv, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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INOTIV, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share amounts)

December 31,September 30,20242024(Unaudited)AssetsCurrent assets:Cash and cash equivalents$38,043 $21,432 Trade receivables and contract assets, net of allowances for credit losses of $6,421 and $6,931, respectively70,140 73,560 Inventories, net31,557 18,173 Prepaid expenses and other current assets29,661 50,248 Assets held for sale2,016 — Total current assets171,417 163,413 Property and equipment, net182,279 188,328 Operating lease right-of-use assets, net48,827 49,165 Goodwill94,286 94,286 Other intangible assets, net264,767 274,396 Other assets11,331 11,773 Total assets$772,907 $781,361 Liabilities and shareholders' equity Current liabilities: Accounts payable$24,954 $33,526 Accrued expenses and other current liabilities25,500 28,218 Fees invoiced in advance46,129 41,986 Current portion of long-term operating lease9,505 11,774 Current portion of long-term debt 3,037 3,538 Total current liabilities109,125 119,042 Long-term operating leases, net 41,588 40,010 Long-term debt, less current portion, net of debt issuance costs392,978 389,801 Other long-term liabilities35,360 34,963 Deferred tax liabilities, net24,024 27,041 Total liabilities603,075 610,857 Contingencies (Note 12)Shareholders’ equity:  Common shares, no par value:Authorized 74,000,000 shares at December 31, 2024 and at September 30, 2024; 33,717,662 issued and outstanding at December 31, 2024 and 26,015,129 at September 30, 20248,391 6,466 Additional paid-in capital752,136 724,789 Accumulated deficit(589,794)(562,163)Accumulated other comprehensive (loss) income(901)1,412 Total equity169,