Company: NEOG
Filing Date: 2025-01-15
Form Type: 10-Q
Source: 0000950170-25-005818
Chunk: 35

Company: NEOGEN CORP
Filing Date: 2025-01-15
Form: 10-Q
Item: Item 2
Chunk 35
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 this reporting unit exceeding its fair value, which would result in an additional impairment charge.

Our critical accounting estimates are included in our Annual Report on Form 10-K for the year ended May 31, 2024 and did not materially change during the three months ended November 30, 2024.

Executive Overview 

    Three months ended November 30,

    Six months ended November 30,

    2024

    2023

    Increase / (Decrease)

    2024

    2023

    Increase / (Decrease)

    Total Revenues
     
    $
    231,258

    $
    229,629

    $
    1,629

    $
    448,222

    $
    458,616

    $
    (10,394
    )

    Cost of Revenues

    117,928

    112,855

    5,073

    229,966

    225,081

    4,885

    Gross Profit

    113,330

    116,774

    (3,444
    )

    218,256

    233,535

    (15,279
    )

    Operating Expenses

    Sales and marketing

    46,545

    44,832

    1,713

    92,344

    90,615

    1,729

    General and administrative

    57,771

    51,721

    6,050

    109,442

    96,842

    12,600

    Goodwill impairment

    461,390

    —

    461,390

    461,390

    —

    461,390

    Research and development

    5,108

    5,756

    (648
    )

    10,307

    12,478

    (2,171
    )

    Total Operating Expenses

    570,814

    102,309

    468,505

    673,483

    199,935

    473,548

    Operating (Loss) Income

    (457,484
    )

    14,465

    (471,949
    )

    (455,227
    )

    33,600

    (488,827
    )