Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 143

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part II, Item 8
Chunk 143
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 any amounts that become payable by the Seller on account of indemnification obligations under the purchase agreement. On April 4, 2023, the Company and the Seller entered into a First Amendment to extend the maturity date of the Seller Payable to July 27, 2024. On May 24, 2024, the Company and the Seller entered into a Second Amendment to extend the maturity date of the Seller Payable to July 27, 2025. Further, beginning on July 27, 2024, the note bears interest at a rate of 4.60% per annum. Accrued interest and principal will be paid at the maturity date. Neither the first nor the second amendment to the Seller Payable affected the rights and remedies of any party under the stock purchase agreement, nor did either alter, modify or amend or in any way affect any of the terms and conditions, obligations, covenants or agreements contained in the stock purchase agreement. On October 24, 2024, the Company and the Seller entered into a Third Amendment to extend the maturity date of the Seller Payable to January 27, 2026.As part of the acquisition of Histion, LLC ("Histion") the Company issued unsecured subordinated promissory notes payable to the former shareholders of Histion in an aggregate principal amount of $433. The promissory notes bear interest at a rate of 4.50% per annum, with monthly payments of principal and interest and a maturity date of April 1, 2025. The promissory notes were paid in full as of April 1, 2025.5.    SUPPLEMENTAL BALANCE SHEET INFORMATIONTrade receivables and contract assets, net consisted of the following: March 31,September 30,2025 2024Trade receivables$65,313 $65,867 Unbilled revenue11,529 14,624 Total76,842 80,491 Less: Allowance for credit losses(5,902)(6,931)Trade receivables and contract assets, net of allowances for credit losses$70,940 $73,560 24

Inventories, net consisted of the following: March 31,September 30,20252024Raw materials$2,194 $1,868 Work in progress30 61 Finished goods4,705 4,174 Research Model Inventory34,050 14,870