Company: NOTV
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004178
Chunk: 176

Company: Inotiv, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 176
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 service for clients.

Refer to Note 8 – Restructuring and Assets Held for Sale in our condensed consolidated financial statements contained in Part I, Item 1 for more information related to the site optimizations.

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Table of Contents

Financial Highlights During Three Months Ended December 31, 2024

•Revenue was $119,876 in the three months ended December 31, 2024, a decrease of $15,625 or 11.5%, compared to $135,501 during the three months ended December 31, 2023, driven by a decrease of $13,749, or 15.1%, in RMS revenue and a $1,876, or 4.2%, decrease in DSA revenue.

•Consolidated net loss for three months ended December 31, 2024 was $27,630, or 23.0% of total revenue, compared to consolidated net loss of $15,828, or 11.7% of total revenue, in three months ended December 31, 2023. 

•Book-to-bill ratio for the three months ended December 31, 2024 was 1.01x for the DSA services business.

•DSA backlog was $130,392 at December 31, 2024 compared to $129,916 at September 30, 2024 and $152,300 at December 31, 2023.

Results of Operations

Three Months Ended December 31, 2024 Compared to Three Months Ended December 31, 2023

DSA

Three Months EndedDecember 31,20242023$ Change% ChangeRevenue$42,822$44,698$(1,876)(4.2)%Cost of revenue130,81231,649(837)(2.6)%Operating expenses25,4817,047(1,566)(22.2)%Depreciation and amortization of intangible assets4,5834,4091743.9 %Operating income3$1,946$1,593$35322.2 %Operating income % of total revenue1.6 %1.2 %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 decreased