Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 183

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 8
Chunk 183
---
 in operating assets and liabilities of $19,154. Non-cash charges primarily included $41,988 for depreciation and amortization, $9,176 for non-cash interest and accretion expense, $4,644 for non-cash employee stock compensation expense, and amortization of debt issuance costs and original issue discount of $3,862, partially offset by a decrease in deferred taxes of $5,835. The net increase in operating assets and liabilities was primarily driven by an increase of $26,846 in inventory, an increase of $9,085 in other assets and liabilities, net, a decrease in fees invoiced in advance of $1,868 and an increase in trade receivables and contract assets of $4,338, partially offset by decreases in prepaid expenses and other current assets of $6,877 and increases in accounts payable of $11,384. The increase in inventory and the decreases in prepaid expenses and other current assets were driven by increased NHP animal research model inventory and the timing of prepaid deposits for future NHP shipments. 

Net cash used in operating activities for the nine months ended June 30, 2024 was primarily driven by non-cash charges of $36,370 and a net increase in operating assets and liabilities of $49,191, partially offset by a consolidated net loss of $89,994. Non-cash charges primarily included $42,524 for depreciation and amortization, $5,118 for non-cash stock compensation expense, non-cash interest and accretion expense of $5,553 and amortization of debt issuance costs and original issue discount of $2,575, partially offset by changes in deferred taxes of $17,407.

Net cash used in investing activities of $12,416 in the nine months ended June 30, 2025 was primarily due to capital expenditures of $13,938, partially offset by the proceeds from the sale of property and equipment. The capital additions during the nine months ended June 30, 2025 primarily consisted of investments in facility improvements for animal welfare and capacity expansions to support future NHP colony management service revenue growth. 

Net cash used in investing activities of $11,583 in the nine months ended June 30, 2024 was primarily due to capital expenditures of $17,015. The capital additions during the nine months ended June 30, 2024 primarily consisted of investments in facility improvements, site expansions, enhancements to laboratory technology, improvements for animal welfare and system enhancements to improve the