Company: NOTV
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004178
Chunk: 131

Company: Inotiv, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part II, Item 8
Chunk 131
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 method for stock options and restricted stock units. 

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The following table reconciles the numerator and denominator in the computations of basic and diluted loss per share:Three Months EndedDecember 31,20242023Numerator:Consolidated net loss$(27,630)$(15,828)Less: Net loss attributable to noncontrolling interests— (440)Net loss attributable to common shareholders(27,630)(15,388)Denominator:Weighted-average shares outstanding - Basic (in thousands)27,16025,764Weighted-average shares outstanding - Diluted (in thousands)27,16025,764Anti-dilutive common share equivalents (1)9,7845,796(1) For the three months ended December 31, 2024, anti-dilutive common share equivalents are comprised of stock options, restricted stock units, restricted stock awards and 2,859,306 common shares issuable upon conversion of the Notes and 3,034,124 common shares issuable upon the exercise of the Warrants. For the three months ended December 31, 2023, anti-dilutive common share equivalents are comprised of stock options, restricted stock units, restricted stock awards and 3,040,268 shares of common stock issuable upon conversion of the Notes. These common share equivalents were outstanding for the periods presented, but were not included in the computation of diluted loss per share for those periods because their inclusion would have had an anti-dilutive effect.

11.    INCOME TAXESThe Company uses the asset and liability method of accounting for income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company recognizes the effect on deferred tax assets and liabilities of a change in tax rates in income in the period that includes the enactment date. The Company records valuation allowances based on a determination of the expected realization of tax assets. The Company’s effective tax rates for the three months ended December 31, 2024 and 2023 were 7.3% and 18.1%, respectively. For the three months ended December 31, 2024, the Company’s effective tax rate was primarily driven by a change in the