Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 220

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 220
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 amounts payable or recoverable related to these lawsuits may be materially different than the amounts recorded, and are subject to final resolution of these lawsuits, including negotiations between the Company, the other defendants and the plaintiffs, and required approvals by all parties involved and the courts.

Results of Operations

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

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DSA

(in thousands, except percentages)Three Months EndedJune 30,20252024$ Change% ChangeRevenue$48,150$44,219$3,931 8.9 %Cost of revenue135,31832,5972,721 8.3 %Operating expenses26,2394,8091,430 29.7 %Depreciation and amortization of intangible assets4,4444,488(44)(1.0)%Operating income3$2,149$2,325$(176)(7.6)%Operating income % of total revenue1.6 %2.2 %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 increased by $3,931 in the three months ended June 30, 2025 compared to the three months ended June 30, 2024. DSA revenue increased primarily due to an increase in general toxicology services revenue, as well as an increase in biotherapeutic services revenue and medical device services revenue.

DSA operating income was $2,149 in the three months ended June 30, 2025 compared to operating income of $2,325 in the three months ended June 30, 2024, a decrease of $176 primarily due to an increase in cost of revenue and an increase in operating expenses, partially offset by the increase in revenue discussed above. The increase in cost of revenue was primarily due to increased cost of research models, additional commercial activity at our Rockville facility and increased repairs and maintenance expense. The increase in operating expenses was primarily due to increased compensation and benefits expense and increased bad debt expense, partially offset by decreased startup costs.

RMS

(in thousands, except percentages)Three Months EndedJune 30,20252024$ Change% ChangeRevenue$82,533$61,567$20