Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 179

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 8
Chunk 179
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AP. Under Accounting Standards Codification 740, the impact of tax law changes on current and deferred taxes is reflected in the estimated annual effective tax rate and/or recognized discretely in the period including the enactment date, which is the fourth quarter of the Company’s current fiscal year.  The Company is currently assessing the tax implications stemming from certain provisions in the OBBBA and how they may affect the current fiscal year’s financial statements.

Consolidated Net Loss

As a result of the factors described above, we had a consolidated net loss of $60,073 for the nine months ended June 30, 2025 as compared to a consolidated net loss of $89,994 during the nine months ended June 30, 2024.

Liquidity and Capital Resources

Liquidity and Going Concern

The accompanying unaudited interim condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles ("GAAP") applicable to a going concern. This presentation contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and does not include any adjustments 

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relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described below.

On December 18, 2024, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Lake Street Capital Markets, LLC, as underwriter (the “Underwriter”), relating to the public offering of 6,000,000 common shares at a purchase price per share to the public of $4.25 (the “Offering Price”). Pursuant to the Underwriting Agreement, the Company granted the Underwriter a 30-day option to purchase up to an additional 900,000 common shares at the Offering Price, less underwriting discounts and commissions, which option was exercised in full and closed on December 30, 2024. Net proceeds from the offering were $27,524 after deducting the underwriting discounts and commissions and other offering expenses paid by the Company. The Company has and intends to continue to use the net proceeds from the offering for working capital, capital expenditures and other general corporate purposes.

As of June 30, 2025, the Company had cash and cash equivalents of approximately $6,215 and access to a $15,000 revolving credit facility, which had no balance outstanding. The Company has requested a draw of $3,000 on its revolving credit facility, but has not yet received the funds as