Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 285

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 1
Chunk 285
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ows within Part II, Item 8 of this Report for further details of net operating cash flows. 

Net cash used in investing activities was $12,891 for the fiscal year ended September 30, 2025 compared to net cash used in investing activities of $16,832 for the fiscal year ended September 30, 2024. 

Our cash used in investing activities in fiscal 2025 was primarily related to capital expenditures of $16,615, partially offset by proceeds from the sale of property and equipment. Capital expenditures in fiscal 2025 primarily consisted of investments in facility improvements for animal welfare and capacity expansions to support future NHP colony management service revenue growth.

Our cash used in investing activities during fiscal 2024 was primarily related to capital expenditures of $22,310, partially offset by proceeds from sale of property and equipment of $5,478. The capital expenditures reflect investments in completing our DSA capacity expansions, infrastructure improvements in NHP facilities, renovations in the U.K. in order to complete the expansion of Hillcrest for new customer contracts and the consolidation of Blackthorn, enhancements in laboratory technology, and improvements for animal welfare. The proceeds from sales of property and equipment predominantly relate to the sales of our facilities in Blackthorn, U.K., Gannat, France, Spain and Cumberland, Virginia.

Net cash provided by financing activities was $23,701 during the fiscal year ended September 30, 2025 compared to $9,675 during the fiscal year ended September 30, 2024.

Contributing factors to financing activities for fiscal 2025 primarily included net proceeds from the issuance of common shares of $27,524 and borrowings on the revolving credit facility of $26,000, partially offset by payments on the revolving credit facility of $23,000, payments on senior term notes and delayed draw term loans of $4,945 and other financing activities of $1,878.

Contributing factors to financing activities for fiscal 2024 primarily included issuance of Second Lien Notes of $17,000 and borrowings on the revolving loan facility of $12,000, partially offset by payments on the revolving credit facility of $12,000, payments on senior term notes and delayed draw term loans of $3,454 and other financing activities of $3,871.

Inflation

We do not believe that inflation has had a material adverse effect on our business, operations or financial condition.

52

Capital Resources

Our indebtedness as of September 30, 2025 and