Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 224

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 224
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RMS revenue increased $13,804 in the nine months ended June 30, 2025 compared to the nine months ended June 30, 2024, due primarily to increased NHP product and service revenue, mainly as a result of increased volume of sales of NHPs.

RMS operating income was $16,625 in the nine months ended June 30, 2025 compared to an operating loss of $32,973 in the nine months ended June 30, 2024, a change of $49,598. This change was primarily due to the decreased operating expenses and increased revenue discussed above, partially offset by an increase in cost of revenue. The $37,518 decrease in operating expenses was primarily due to the $28,500 million charge related to the Resolution Agreement and Plea Agreement that was incurred during nine months ended June 30, 2024, which did not repeat during the nine months ended June 30, 2025, and the $7,550 settlement payment we received during the nine months ended June 30, 2025 as a result of the complaint we filed against Freese and Nichols, Inc. (“FNI”).  Refer to Note 12 - Contingencies and Commitments for 

42

further discussion of the Settlement Agreement with FNI. The increase of $2,552 in cost of revenue was primarily due to increased costs associated with higher NHP-related product and service revenue, partially offset by lower non-NHP inventory costs, reduced transportation costs, reduced utilities costs and reduced operating supplies costs.

Unallocated Corporate

Nine Months EndedJune 30,20252024$ Change% ChangeOperating expenses1$44,292$46,554$(2,262)(4.9)%Depreciation and amortization of intangible assets492483 91.9 %Operating loss2$44,784$47,037$(2,253)(4.8)%Operating loss % of total revenue(11.9)%(13.1)%1Operating expenses include general and administrative and other operating expenses2Table may not foot due to rounding

Unallocated corporate operating loss consists of general and administrative expenses, other operating expenses and depreciation expenses that are not directly related or allocated to the reportable segments. The decrease in unallocated corporate operating loss was driven by a decrease in operating expenses of $2,262 in the nine months ended June 30, 2025, compared to the nine months ended June 30, 2024, which was