Company: NOTV
Filing Date: 2025-12-05
Form Type: 10-K
Source: 0001628280-25-055483
Chunk: 157

Company: Inotiv, Inc.
Filing Date: 2025-12-05
Form: 10-K
Item: Item 1
Chunk 157
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 or other loan on terms acceptable to the Company or at all. See Note 6 - Debt  for further information about the Company’s existing credit facilities and requirements under its debt covenants. 

The Company’s liquidity needs and compliance with covenants depend, among other things, on its ability to source and sell NHPs, its ability to fill its expanded DSA capacity, its ability to generate cash from other operating activities and its ability to manage its forecasted capital expenditures. Although management believes that it will be able to implement its plan, there can be no assurances that its plan will prove successful. As a result, substantial doubt about the Company's ability to continue as a going concern exists.

Comparative Cash Flow Analysis

As of September 30, 2025, we had cash and cash equivalents of $21,741 compared to $21,432 of cash and cash equivalents as of September 30, 2024. As of September 30, 2025, we had a $3,000 outstanding balance on our $15,000 revolving credit facility. Information about other debt outstanding as of each date is set forth below under “Capital Resources.”

Net cash used in operating activities was $10,455 for the fiscal year ended September 30, 2025, compared to $6,805 for the fiscal year ended September 30, 2024. Contributing factors to our cash used in operations for fiscal 2025 were a consolidated net loss of $68,625, a $21,612 decrease in deferred taxes and $1,144 for net changes in operating assets and 

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liabilities, partially offset by noncash charges of $55,928 for depreciation and amortization, $6,028 for stock compensation expense, $12,535 of non-cash interest and accretion expense and $5,206 of amortization of debt issuance costs and original issue discount. Contributing factors to our cash used in operating activities for fiscal 2024 were a consolidated net loss of $108,885, a $23,251 decrease in deferred taxes, and a gain on debt extinguishment of $1,860, partially offset by $57,118 for depreciation and amortization, $52,604 for net changes in operating assets and liabilities, $7,378 of non-cash interest and accretion expense, $6,740 for employee stock compensation expense and $3,745 of amortization of debt issuance costs and original issue discount. Refer to the Statements of Cash Fl