Company: NEOG
Filing Date: 2025-07-30
Form Type: 10-K
Source: 0000950170-25-100064
Chunk: 5

Company: NEOGEN CORP
Filing Date: 2025-07-30
Form: 10-K
Item: Item 6
Chunk 5
---
     Research and development

     21,087

     22,476

     (1,389
     )

     Total Operating Expenses

     1,482,373

     405,237

     1,077,136

     Operating Loss (Income)

     (1,060,997
     )

     58,663

     (1,119,660
     )

     Other Expense

     Interest income

     3,110

     6,362

     (3,252
     )

     Interest expense

     (71,622
     )

     (73,394
     )

     1,772

     Other, net

     (3,601
     )

     (5,936
     )

     2,335

     Total Other Expense

     (72,113
     )

     (72,968
     )

     855

     Loss Before Taxes

     (1,133,110
     )

     (14,305
     )

     (1,118,805
     )

     Income Tax Benefit

     (41,066
     )

     (4,884
     )

     (36,182
     )

     Net Loss
      
     $
     (1,092,044
     )
      
     $
     (9,421
     )
      
     $
     (1,082,623
     )

33

Results of OperationsRevenues Revenue decreased $29.6 million for the fiscal year 2025 compared to prior year 2024. The decrease included a $24.3 million unfavorable foreign exchange rate impact and a $3.9 million unfavorable impact due to discontinued product lines with a nominal decline of $1.4 million in the business. Sales of new products in the food quality and nutritional analysis product line paired with growth in indicator testing, pathogens, and biosecurity product lines were offset primarily by reduced sales of sample collection products due to production constraints, lower sales of veterinary instruments due, in part, to a customer sourcing move based on geographical preference, and lower genomics volume due to a combination of voluntary attrition of certain business in connection with restructuring actions, weakness in the companion animal market and a higher level of customer insourcing that offset growth in the bovine market.Service RevenueService revenue, which consists primarily of genomics services provided to animal production and companion animal markets, was $97.3 million in fiscal 2025, a decrease of 5%