Company: NEOG
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001193125-25-235720
Chunk: 1

Company: NEOGEN CORP
Filing Date: 2025-10-09
Form: 10-Q
Item: Item 1
Chunk 1
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Neogen Corporation 

Condensed Consolidated Balance Sheets

(in thousands, except shares)

     August 31, 2025

     May 31, 2025

     Assets
      
     (unaudited)

     Current Assets

     Cash and cash equivalents
      
     $
     138,883

     $
     129,004

     Accounts receivable, net of allowance of $5,403 and $5,397

     138,459

     153,384

     Inventories

     Raw materials

     66,831

     65,692

     Work-in-process

     11,636

     11,233

     Finished goods

     131,812

     130,417

     Total Inventories

     210,279

     207,342

     Less inventory reserve

     (16,865
     )

     (16,483
     )

     Inventories, net

     193,414

     190,859

     Assets held for sale

     —

     50,402

     Prepaid expenses and other current assets

     53,304

     53,288

     Total Current Assets

     524,060

     576,937

     Net Property and Equipment

     345,893

     339,131

     Other Assets

     Right of use assets

     16,994

     17,152

     Goodwill

     1,065,889

     1,064,902

     Amortizable intangible assets, net

     1,389,141

     1,410,485

     Other non-current assets

     36,179

     35,229

     Total Other Assets

     2,508,203

     2,527,768

     Total Assets
      
     $
     3,378,156

     $
     3,443,836

     Liabilities and Stockholders’ Equity

     Current Liabilities

     Current portion of debt
      
     $
     —

     $
     19,301

     Accounts payable

     76,596

     79,605

     Accrued compensation

     20,273

     14,134

     Income tax payable (note 8)

     9,449

     5,599

     Accrued interest