Inotiv, Inc. Files 10-Q/A Amendment for Period Ending March 31, 2024

TL;DR

<b>Inotiv, Inc. has filed an amendment to its quarterly report for the period ending March 31, 2024.</b>

AI Summary

Inotiv, Inc. (NOTV) filed a Amended Quarterly Report (10-Q/A) with the SEC on May 16, 2024. Inotiv, Inc. filed an amendment (10-Q/A) on May 16, 2024, for the period ending March 31, 2024. The filing pertains to the company's quarterly report. The company's fiscal year ends on September 30. Inotiv, Inc. was formerly known as BIOANALYTICAL SYSTEMS INC. The company's principal business address is in West Lafayette, Indiana.

Why It Matters

For investors and stakeholders tracking Inotiv, Inc., this filing contains several important signals. This amendment indicates potential updates or corrections to previously filed financial information, requiring investor attention. Understanding the specifics of this amendment is crucial for assessing the company's current financial health and operational status.

Risk Assessment

Risk Level: low — Inotiv, Inc. shows low risk based on this filing. The filing is an amendment to a standard quarterly report (10-Q/A), suggesting routine updates rather than significant negative events.

Analyst Insight

Review the specific changes within the 10-Q/A filing to understand any material updates to Inotiv's financial position or disclosures.

Key Numbers

• 2024-03-31 — Period of Report (Conformed period of report)
• 2024-05-16 — Filing Date (Filed as of date)
• 0930 — Fiscal Year End (Fiscal year end)
• 1997-09-18 — Date of Name Change (Date of name change)

Key Players & Entities

• Inotiv, Inc. (company) — Filer name
• BIOANALYTICAL SYSTEMS INC (company) — Former company name
• 2701 KENT AVE (address) — Business street address
• WEST LAFAYETTE (location) — Business city
• IN (location) — Business state
• 47906-1382 (postal_code) — Business zip code
• 3174634527 (phone_number) — Business phone

FAQ

Industry Context

Inotiv, Inc. operates in the commercial physical and biological research sector, providing services and products.

Regulatory Implications

The filing is a 10-Q/A, an amendment to a quarterly report filed under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the specific amendments made in the 10-Q/A filing.
2. Analyze any changes in financial statements or disclosures.
3. Assess the impact of these amendments on Inotiv's reported performance.

Year-Over-Year Comparison

This is an amended filing (10-Q/A), indicating updates to previously submitted information for the period ending March 31, 2024.

Filing Documents

• notv-20240331.htm (10-Q/A) — 1439KB
• notv-20240331xexx31110qa.htm (EX-31.1) — 10KB
• notv-20240331xexx31210qa.htm (EX-31.2) — 10KB
• notv-20240331xexx32110qa.htm (EX-32.1) — 4KB
• notv-20240331xexx32210qa.htm (EX-32.2) — 5KB
• 0001628280-24-023684.txt (&nbsp;) — 8087KB
• notv-20240331.xsd (EX-101.SCH) — 68KB
• notv-20240331_cal.xml (EX-101.CAL) — 102KB
• notv-20240331_def.xml (EX-101.DEF) — 253KB
• notv-20240331_lab.xml (EX-101.LAB) — 741KB
• notv-20240331_pre.xml (EX-101.PRE) — 496KB
• notv-20240331_htm.xml (XML) — 1111KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 51 Item 4

Controls and Procedures

Controls and Procedures 52 PART II OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 53 Item 1A

Risk Factors

Risk Factors 53 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 62 Item 3 Defaults Upon Senior Securities 62 Item 4 Mine Safety Disclosures 62 Item 5 Other Information 62 Item 6 Exhibits 63

Signatures

Signatures 64 3 Table of Contents Index to Consolidated Financial Statements Page NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 10 1. DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION 10 2. REVENUE FROM CONTRACTS WITH CUSTOMERS 14 3. SEGMENT AND GEOGRAPHIC INFORMATION 15 4. BUSINESS COMBINATIONS 17 5. INTANGIBLE ASSETS 18 6. DEBT 19 7. SUPPLEMENTAL BALANCE SHEET INFORMATION 25 8. DEFINED BENEFIT PLAN 26 9. OTHER OPERATING EXPENSE 27 10. RESTRUCTURING AND ASSETS HELD FOR SALE 27 11. LEASES 28 12. EQUITY, STOCK-BASED COMPENSATION AND EARNINGS (LOSS) PER SHARE 30 13. INCOME TAXES 31 14. CONTINGENCIES 32 15. SUBSEQUENT EVENTS 34 4 Table of Contents INOTIV, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share amounts) March 31, September 30, 2024 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 32,695 $ 35,492 Trade receivables and contract assets, net of allowances for credit losses of $ 6,459 and $ 7,446 , respectively 65,757 87,383 Inventories, net 45,406 56,102 Prepaid expenses and other current assets 36,821 33,408 Assets held for sale — 1,418 Total current assets 180,679 213,803 Property and equipment, net 191,423 191,068 Operating lease right-of-use assets, net 46,796 38,866 Goodwill 94,286 94,286 Other intangible assets, net 291,331 308,428 Other assets 10,863 10,079 Total assets $ 815,378 $ 856,530 Liabilities, shareholders' equity and noncontrolling interest Current liabilities: Accounts payable $ 28,381 $ 32,564 Accrued expenses and other current liabilities 31,102 25,776 Fees invoiced in advance 41,675 55,622 Current portion of long-term operating lease 11,413 10,282 Current portion of long-term debt 380,358 7,950 Total current liabilities 492,929 132,194 Long-term operating leases, net 37,218 29,614 Long-term debt, less current portion, net of debt issuance costs 275 369,795 Other long-term liabilities 38,055 6,373

View Full Filing

View this 10-Q/A filing on SEC EDGAR