Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 230

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 230
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 and liabilities of $49,191, partially offset by a consolidated net loss of $89,994. Non-cash charges primarily included $42,524 for depreciation and amortization, $5,118 for non-cash stock compensation expense, non-cash interest and accretion expense of $5,553 and amortization of debt issuance costs and original issue discount of $2,575, partially offset by changes in deferred taxes of $17,407.

Net cash used in investing activities of $12,416 in the nine months ended June 30, 2025 was primarily due to capital expenditures of $13,938, partially offset by the proceeds from the sale of property and equipment. The capital additions during the nine months ended June 30, 2025 primarily consisted of investments in facility improvements for animal welfare and capacity expansions to support future NHP colony management service revenue growth. 

Net cash used in investing activities of $11,583 in the nine months ended June 30, 2024 was primarily due to capital expenditures of $17,015. The capital additions during the nine months ended June 30, 2024 primarily consisted of investments in facility improvements, site expansions, enhancements to laboratory technology, improvements for animal welfare and system enhancements to improve the client experience. Partially offsetting these capital expenditures were net 

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investing cash inflows of $5,432 related to the proceeds from the sale of property and equipment, which primarily related to the sale of various sites in connection with our site optimization strategy.

Net cash provided by financing activities of $22,083 in the nine months ended June 30, 2025 primarily included net proceeds from the issuance of common shares of $27,524 and borrowings on the revolving credit facility of $20,000, partially offset by payments on the revolving credit facility of $20,000 and payments on senior term notes and delayed draw term loans of $4,254.

Net cash used in financing activities of $4,889 in the nine months ended June 30, 2024 included other net financing payments of $2,816 and principal payments of $2,073 on the senior term notes and delayed draw term loans.

Capital Resources

Long-term debt as of June 30, 2025 and September 30, 2024 is detailed in the table below. 

June 30, 2025September 30, 2024Seller Note – Bolder BioPath (related party)$207 $376 Seller Note – Preclinical