Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 52

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 are presented gross in the Company’s condensed consolidated balance sheets.Supplemental cash flow information related to leases was as follows:Six Months EndedMarch 31,20252024Cash flows included in the measurement of lease liabilities: Operating cash flows from operating leases$6,461 $5,762 Operating cash flows from finance leases131 42 Financing cash flows from finance leases136 9 Non-cash lease activity: ROU assets obtained in exchange for new operating lease liabilities$3,194 $12,441 ROU assets obtained in exchange for new finance lease liabilities2,294 191 

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The weighted average remaining lease term and discount rate for the Company’s operating leases as of March 31, 2025 and 2024 were:March 31, 2025March 31, 2024Weighted-average remaining lease term (in years)Operating lease9.098.91Finance lease6.302.63Weighted-average discount rate (in percentages) Operating lease12.53 %11.84 %Finance lease12.66 %12.57 %Lease duration was determined utilizing renewal options that the Company is reasonably certain to execute.As of March 31, 2025, maturities of operating and finance lease liabilities for each of the following five fiscal years and a total thereafter were as follows:Operating LeasesFinance Leases2025 (remainder of fiscal year)$4,822 $372 202611,739 740 20279,804 712 20288,619 683 20297,864 639 Thereafter48,323 995 Total minimum future lease payments91,171 4,141 Less interest(41,958)(1,300)Total lease liability49,213 2,841 

10.    EQUITY, STOCK-BASED COMPENSATION AND LOSS PER SHARE

Authorized SharesOn November 4, 2021, the Company’s shareholders approved an amendment to the Company’s Second Amended and Restated Articles of Incorporation to increase the number of authorized shares from 20,000,000 shares, consisting of 19,000,000 common shares and 1,000,000 preferred shares, to 75,000,000 shares, consisting of 74,000,000 common shares and 1,000,000 preferred shares. Approval of this matter by the Inotiv shareholders was a condition to the closing of the Env