Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 45

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 7
Chunk 45
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 the 2025 Cybersecurity Incident in accordance with applicable legal obligations. While we have identified the likely scope of the incident, the full operational and financial impacts are still being evaluated. Accordingly, we have not yet determined whether the 2025 Cybersecurity Incident is reasonably likely to have a material impact on the Company. 

•In closings on December 19, 2024 and December 30, 2024, the Company raised approximately $27,524 in net proceeds from its underwritten public offering of a total of 6,900,000 common shares at a price to the public of $4.25 per share.

Results of Operations by Segment

Below we have provided discussion and analysis of our financial results by reportable segments:

Twelve Months Ended September 30, 2025 Compared to Twelve Months Ended September 30, 2024

DSA

Twelve Months EndedSeptember 30,20252024$ Change% ChangeRevenue$187,943$180,116$7,827 4.3 %Cost of revenue 1138,214127,21610,9988.6 %Operating expenses 223,46626,336(2,870)(10.9)%Depreciation and amortization of intangible assets17,97917,8651140.6 %Operating income 3$8,284$8,699$(415)(4.8)%Operating income % of total revenue1.6 %1.8 %Operating income % of segment revenue4.4 %4.8 %1 Cost of revenue includes cost of services provided and cost of products sold and excludes depreciation and amortization of intangible assets, which is separately stated2 Operating expenses include selling, general and administrative and other operating expenses and exclude depreciation and amortization of intangible assets, which is separately stated3 Table may not foot due to rounding

For the twelve months ended September 30, 2025, DSA revenue was $187,943 compared to $180,116 for the twelve months ended September 30, 2024, representing an increase of $7,827, or 4.3%. The increase in DSA revenue was primarily driven by a $6,376 increase in safety assessment services revenue as a result of an increase in biotherapeutic analysis revenue in connection with new business at our Rockville facility, an increase in surgical services revenue and an increase in general toxicology services revenue. The remaining increase in DSA revenue was primarily due