Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 255

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 1
Chunk 255
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 scientific and research communities have attempted to develop models, methods and systems that would replace or supplement the use of living animals as test subjects in biomedical research. In addition, technological improvements to existing or new processes, such as imaging and biomarker technology, could result in a refinement in the number of animal research models necessary to conduct the required research. Alternative research methods could decrease the need for research models, and we may not be able to develop new products effectively or in a timely manner to replace any lost sales. In addition, other companies or entities may develop research models with characteristics different than the ones that we produce, and which may be viewed as more desirable by our clients. 

Our non-U.S. operations expose us to risks associated with operating internationally.

During the fiscal years ended September 30, 2025, 2024 and 2023, revenues generated by our facilities outside the U.S. were 12.7%, 14.6% and 15.7%, respectively, of consolidated revenues. As a result of these sales from foreign 

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entities and facilities located outside the U.S., our operations are subject to a variety of risks unique to international operations, including the following: 

•exposure to local economic conditions; 

•currency exchange rate and interest rate fluctuations; 

•differences and changes in tax laws; 

•potential restrictions on the transfer of funds; 

•differences in regulatory requirements; 

•exposure to liabilities under the U.S. Foreign Corrupt Practices Act or the U.K. Antibribery Act; 

•government imposed investment and other restrictions or requirements; 

•failure to comply with new and evolving regulations, including privacy and security laws;

•exposure to local social unrest, including any resulting acts of war, terrorism or similar events; 

•exposure to local public health issues and the resulting impact on economic and political conditions; 

•difficulty enforcing agreements and collecting receivables through certain legal systems; 

•more expansive legal rights of employees, including specifically those applicable to our European operations; 

•variations in protection of intellectual property and other legal rights; and 

•export and import and trade restrictions (such as antidumping duties, tariffs or embargoes).

Risks Related to our Acquisition and Optimization Activities

We have and may further expand our business through acquisitions, which exposes us to various risks. Our due diligence of our past or future acquisitions may not have identified all pertinent risks, or the full magnitude of such risks, which could materially affect our business, financial