Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 47

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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ovenants or agreements contained in the stock purchase agreement. On October 24, 2024, the Company and the Seller entered into a Third Amendment to extend the maturity date of the Seller Payable to January 27, 2026.As part of the acquisition of Histion, LLC ("Histion") the Company issued unsecured subordinated promissory notes payable to the former shareholders of Histion in an aggregate principal amount of $433. The promissory notes bear interest at a rate of 4.50% per annum, with monthly payments of principal and interest and a maturity date of April 1, 2025. The promissory notes were paid in full as of April 1, 2025.5.    SUPPLEMENTAL BALANCE SHEET INFORMATIONTrade receivables and contract assets, net consisted of the following: March 31,September 30,2025 2024Trade receivables$65,313 $65,867 Unbilled revenue11,529 14,624 Total76,842 80,491 Less: Allowance for credit losses(5,902)(6,931)Trade receivables and contract assets, net of allowances for credit losses$70,940 $73,560 24

Inventories, net consisted of the following: March 31,September 30,20252024Raw materials$2,194 $1,868 Work in progress30 61 Finished goods4,705 4,174 Research Model Inventory34,050 14,870 Total40,979 20,973 Less: Obsolescence reserve(2,937)(2,800)Inventories, net$38,042 $18,173 Prepaid expenses and other current assets consisted of the following:March 31,September 30,20252024Advances to suppliers$27,761 $36,516 Prepaid research models4,526 4,993 Income tax receivable2,079 2,602 Note receivable1,335 1,280 Other6,295 4,857 Prepaid expenses and other current assets$41,996 $50,248 The composition of other assets is as follows: March 31,September 30,20252024Note receivable$6,182 $6,082 Funded status of defined benefit plan3,126 3,142