Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 166

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part II, Item 8
Chunk 166
---
Operating expenses1$14,156$15,216$(1,060)(7.0)%Depreciation1581499 6.0 %Operating loss2$14,314$15,365$(1,051)(6.8)%Operating loss % of total revenue(11.5)%(12.9)%1Operating expenses includes general and administrative and other operating expenses2Table may not foot due to rounding

Unallocated corporate costs consist of general and administrative expenses, other operating expenses and depreciation expenses that are not directly related or allocated to the reportable segments. The decreased operating loss of $1,051 in the three months ended March 31, 2025 compared to the three months ended March 31, 2024 was primarily driven by decreased stock compensation expense and compensation and benefits expense.

Other Expense

Other expense increased by $1,711 for the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily driven by an increase of $2,358 in interest expense, largely due to interest incurred in relation to the Second Lien Notes (as defined below) issued in September 2024.

Income Taxes

The Company’s effective tax rates for the three months ended March 31, 2025 and 2024 were 6.9% and 11.7%, respectively. For the three months ended March 31, 2025, the Company’s effective tax rate was primarily driven by nondeductible expenses. For the three months ended March 31, 2024, the Company’s effective tax rate was primarily driven by unfavorable discrete adjustments related to the Agreement in Principle (subsequently replaced by the Resolution Agreement and Plea Agreement) and changes in valuation allowance, partially offset by a change in the Company's forecasted loss before income taxes.

Consolidated Net Loss

As a result of the factors described above, we had a consolidated net loss of $14,866 for the three months ended March 31, 2025 as compared to a consolidated net loss of $48,079 during the three months ended March 31, 2024.

Six Months Ended March 31, 2025 Compared to Six Months Ended March 31, 2024

38

DSA

Six Months EndedMarch 31,20252024$ Change% ChangeRevenue$88,154$91,329$(3,175)(3.5)%Cost of revenue166,18163,6132,5684.