Company: NEOG
Filing Date: 2025-01-15
Form Type: 10-Q
Source: 0000950170-25-005818
Chunk: 4

Company: NEOGEN CORP
Filing Date: 2025-01-15
Form: 10-Q
Item: Item 1
Chunk 4
---
,368

    —

    1,368

    November 30, 2023

    216,520,296

    $
    34,644

    $
    2,574,994

    $
    (25,128
    )
     
    $
    563,057

    $
    3,147,567

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

Neogen Corporation 

Condensed Consolidated Statements of Cash Flows (unaudited) 

(in thousands) 

    Six months ended November 30,

    2024

    2023

    Cash Flows provided by Operating Activities

    Net loss
     
    $
    (468,891
    )
     
    $
    (1,984
    )

    Adjustments to reconcile net loss to net cash from operating activities:

    Depreciation and amortization

    59,849

    58,203

    Deferred income taxes

    (23,924
    )

    1,178

    Share-based compensation

    8,801

    6,150

    Loss on disposal of property and equipment

    164

    38

    Amortization of debt issuance costs

    1,720

    1,720

    Goodwill and other asset impairment

    468,718

    716

    Other

    (261
    )

    —

    Change in operating assets and liabilities, net of business acquisitions:

    Accounts receivable, net

    5,332

    3,633

    Inventories, net

    (17,398
    )

    (25,929
    )

    Prepaid expenses and other current assets

    (16,675
    )

    (29,896
    )

    Accounts payable and accrued liabilities

    2,166

    34,950

    Interest expense accrual

    106

    (164
    )

    Change in other non-current assets and non-current liabilities

    2,632

    (9,892
    )

    Net Cash provided by Operating Activities

    22,339

    38,723

    Cash Flows (used for) provided by Investing Activities

    Purchases of property, equipment and other non-current intangible assets

    (55,590
    )

    (55,046
    )