Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 54

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 Plan or 2018 Plan that expires, is forfeited or cancelled, is settled for cash or exchanged will become available for future awards under the 2024 Plan. Following the shareholders' approval of the 2024 Plan, awards can no longer be granted under the 2018 Plan. The Company currently grants equity awards from the 2024 Plan. As of March 31, 2025, 903,240 shares remained available for grants under the 2024 Plan.The Company expenses the estimated fair value of stock options, restricted stock and restricted stock units over the vesting periods of the grants. The Company recognizes expense for awards subject to graded vesting using the straight-line attribution method and forfeitures, as they are incurred. Stock based compensation expense for the three months ended March 31, 2025 and 2024, was $1,435 and $1,884, respectively. Stock based compensation expense for the six months ended March 31, 2025 and 2024, was $3,205 and $3,781, respectively.Loss per ShareThe Company computes basic loss per share using the weighted average number of common shares outstanding. The Company computes diluted loss per share using the if-converted method for preferred shares and convertible debt, if any, and the treasury stock method for stock options and restricted stock units. The following table reconciles the numerator and denominator in the computations of basic and diluted loss per share:Three Months EndedMarch 31,Six Months EndedMarch 31,2025202420252024Numerator:Consolidated net loss$(14,866)$(48,079)$(42,496)$(63,907)Less: Net loss attributable to noncontrolling interests— — — (440)Net loss attributable to common shareholders(14,866)(48,079)(42,496)(63,467)Denominator:Weighted-average shares outstanding - Basic (in thousands)33,99525,83130,54025,797Weighted-average shares outstanding - Diluted (in thousands)33,99525,83130,54025,797Anti-dilutive common share equivalents110,7975,66410,7975,6641As of March 31, 2025, anti-dilutive common share equivalents are comprised of stock options, restricted stock units, 2,859,306 common shares issuable upon conversion of the Notes and 3,034,124 common shares issuable upon the exercise of the W