Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 60

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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 2024, primarily driven by an increase of $1,490 in interest expense, net, which was largely due to interest incurred in relation to the Second Lien Notes (as defined below) issued in September 2024, partially offset by gains related to changes in foreign exchange rates.

Income Taxes

The Company’s effective tax rates for the three months ended June 30, 2025 and 2024 were 6.3% and 20.8%, respectively. For the three months ended June 30, 2025, the Company’s effective tax rate was primarily driven by the change in forecasted income in non-U.S. jurisdictions and unfavorable discrete items. For the three months ended June 30, 2024, the Company’s effective tax rate was primarily driven 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 $17,577 for the three months ended June 30, 2025 as compared to a consolidated net loss of $26,087 during the three months ended June 30, 2024.

Nine Months Ended June 30, 2025 Compared to Nine Months Ended June 30, 2024

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DSA

Nine Months EndedJune 30,20252024$ Change% ChangeRevenue$136,304$135,548$7560.6 %Cost of revenue1101,49996,2105,2895.5 %Operating expenses217,22319,307(2,084)(10.8)%Depreciation and amortization of intangible assets13,54313,2602832.1 %Operating income3$4,039$6,771$(2,732)(40.3)%Operating income % of total revenue1.1 %1.9 %1Cost of revenue includes cost of services provided and cost of products sold and excludes depreciation and amortization of intangible assets, which is separately stated2Operating expenses include selling, general and administrative and other operating expenses and excludes depreciation and amortization of intangible assets, which is separately stated3Table may not foot due to rounding

DSA revenue increased $756 in the nine months ended June 30, 2025 compared to the nine months ended June 30, 2024. The increase in DSA revenue was primarily driven by an increase in general toxicology services revenue, partially offset by a decrease in discovery services revenue