Company: NOTV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-039017
Chunk: 13

Company: Inotiv, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 recognized equals the outstanding trade receivables and contract assets less fees invoiced in advance.

During the three and nine months ended June 30, 2025, one client accounted for 16.4% and 16.1% of revenue, respectively. During the three months ended June 30, 2024, no clients accounted for more than 10.0% of revenue.  During the nine months ended June 30, 2024, one client accounted for 16.1% of revenue. During the three and nine months ended June 30, 2025 and June 30, 2024, no vendor spend accounted for more than 10.0% of the sum of cost of services and cost of products. 

2.    REVENUE FROM CONTRACTS WITH CLIENTSDSAThe DSA segment generates service revenue through drug discovery and development services. The DSA segment generates product revenue through internally-manufactured scientific instruments for life sciences research and the related software for use by pharmaceutical companies, universities, government research centers and medical research institutions under the Company’s BASi product line. Refer to Note 1 – Description of the Business and Basis of Presentation for further discussion of types of services and products offered within the DSA segment.RMSThe RMS segment generates product revenue through the commercial production, procurement and sale of research models, diet, bedding and enrichment products and bioproducts. The RMS segment generates service revenue through Genetically Engineered Models and Services ("GEMS"), client-owned animal colony care (colony management services), and health monitoring and diagnostics services related to research models. Refer to Note 1 – Description of the Business and Basis of Presentation for further discussion of types of services and products offered within the RMS segment.

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Contract Assets and Liabilities from Contracts with ClientsThe timing of revenue recognition, billings and cash collections results in billed receivables (trade receivables), contract assets (unbilled revenue), and contract liabilities (client deposits and deferred revenue) on the condensed consolidated balance sheets. The following table provides information about contract assets (trade receivables and unbilled revenue, excluding allowances for credit losses), and fees invoiced in advance (client deposits and deferred revenue):Balance atJune 30, 2025Balance atSeptember 30, 2024Contract assets: Trade receivables$74,576 $65,867 Contract assets: Unbilled revenue10,614 14,624 Contract liabilities: Client deposits21,