Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 274

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 1
Chunk 274
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30, 2024, a decrease of $55,504, which was primarily driven by the change in RMS operating results for the fiscal year ended September 30, 2025 compared to the fiscal year ended September 30, 2024. For the fiscal year ended September 30, 2025, RMS operating income was $20,611, compared to an operating loss of $31,929 for the fiscal year ended September 30, 2024, a change of $52,540. This change was primarily driven by increased RMS revenue discussed above and a decrease in RMS operating expenses (which include selling, general and administrative and other operating expenses) of $38,187. The decrease in operating expenses was primarily driven by the $28,500 charge incurred during the fiscal year ended September 30, 2024 related to the Resolution Agreement and Plea Agreement, which did not repeat during the fiscal year ended September 30, 2025, and a legal settlement of $7,550 that we received during the fiscal year ended September 30, 2025.

Net loss attributable to common shareholders for the fiscal year ended September 30, 2025 decreased to $68,625 from $108,445 in the fiscal year ended September 30, 2024, due primarily to the decrease in operating loss described above.

Net cash used in operations for the fiscal year ended September 30, 2025 was $10,455 compared to $6,805 of net cash used in operations for the fiscal year ended September 30, 2024. Refer to "Liquidity and Capital Resources" below for an analysis of changes.

As of September 30, 2025, the Company had $21,741 in cash and cash equivalents. Total debt, net of debt issuance costs, as of September 30, 2025 was $402,123. 

Operational and Capital Resources Highlights during Twelve Months Ended September 30, 2025

•Net book-to-bill ratio for the twelve months ended September 30, 2025 was 1.05x for the DSA services business.

•DSA backlog was $138,197 as of September 30, 2025, up from $129,916 at September 30, 2024.

•We recently engaged Perella Weinberg Partners to provide general financial advisory and investment banking services to assist the Company in exploring potential debt refinancing alternatives.

•In connection with Phase Two of our site optimization plans, we