Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 44

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 7
Chunk 44
---
 did not repeat during the fiscal year ended September 30, 2025, and a legal settlement of $7,550 that we received during the fiscal year ended September 30, 2025.

Net loss attributable to common shareholders for the fiscal year ended September 30, 2025 decreased to $68,625 from $108,445 in the fiscal year ended September 30, 2024, due primarily to the decrease in operating loss described above.

Net cash used in operations for the fiscal year ended September 30, 2025 was $10,455 compared to $6,805 of net cash used in operations for the fiscal year ended September 30, 2024. Refer to "Liquidity and Capital Resources" below for an analysis of changes.

As of September 30, 2025, the Company had $21,741 in cash and cash equivalents. Total debt, net of debt issuance costs, as of September 30, 2025 was $402,123. 

Operational and Capital Resources Highlights during Twelve Months Ended September 30, 2025

•Net book-to-bill ratio for the twelve months ended September 30, 2025 was 1.05x for the DSA services business.

•DSA backlog was $138,197 as of September 30, 2025, up from $129,916 at September 30, 2024.

•We recently engaged Perella Weinberg Partners to provide general financial advisory and investment banking services to assist the Company in exploring potential debt refinancing alternatives.

•In connection with Phase Two of our site optimization plans, we sold two U.S. properties during fiscal year 2025. As required by the Credit Agreement, the net proceeds from the sale in June 2025 were used to repay principal on our term loans, during July 2025 and the net proceeds from the sale in September 2025 were used to repay principal on our term loans during October 2025.

46

•On August 8, 2025, we became aware of a cybersecurity incident affecting certain of our systems and data (the “2025 Cybersecurity Incident”). We have restored availability and access to the Company’s networks and systems. The forensic investigation of the 2025 Cybersecurity Incident is now complete and determined that between approximately August 5-8, 2025, a threat actor gained unauthorized access to the Company’s systems and may have acquired certain data. The Company is in the process of providing notifications regarding