Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 34

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 receivables and contract assets, net consisted of the following: June 30,September 30,2025 2024Trade receivables$74,576 $65,867 Unbilled revenue10,614 14,624 Total85,190 80,491 Less: Allowance for credit losses(6,445)(6,931)Trade receivables and contract assets, net of allowances for credit losses$78,745 $73,560 25

Inventories, net consisted of the following: June 30,September 30,20252024Raw materials$1,854 $1,868 Work in progress50 61 Finished goods4,763 4,174 Research model inventory41,234 14,870 Total47,901 20,973 Less: Obsolescence reserve(2,827)(2,800)Inventories, net$45,074 $18,173 Prepaid expenses and other current assets consisted of the following:June 30,September 30,20252024Advances to suppliers$19,261 $36,516 Prepaid research models4,011 4,993 Income tax receivable1,881 2,602 Note receivable1,226 1,280 Insurance recovery receivable (1)10,000 — Other7,156 4,857 Prepaid expenses and other current assets$43,535 $50,248 (1) In connection with ongoing negotiations to settle the securities class action lawsuit and related derivative lawsuits, the Company booked a $10,000 insurance recovery receivable.  Refer to Note 12 - Contingencies - Securities Class Action and Derivative Lawsuits for further discussion.The composition of other assets is as follows: June 30,September 30,20252024Note receivable$6,233 $6,082 Funded status of defined benefit plan3,126 3,142 Finance lease right-of-use assets, net2,734 652 Other1,578 1,897 Other assets$13,671 $11,773 

26

Accrued expenses and other current liabilities consisted of the following: June 30,September 30,2025 2024Accrued compensation$8,802 $10,851 Non-income taxes3,731 4,409 Accru