Inotiv, Inc. Files Q3 2024 10-Q Report
Ticker: NOTV · Form: 10-Q · Filed: Aug 9, 2024 · CIK: 720154
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Inotiv's Q3 24 10-Q is in. Check financials.
AI Summary
Inotiv, Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The company, formerly known as BIOANALYTICAL SYSTEMS INC, is based in West Lafayette, Indiana. Key financial details and operational segments are outlined in the filing, which covers the third quarter and the first nine months of its fiscal year ending September 30, 2024.
Why It Matters
This filing provides investors and stakeholders with the latest financial results and operational updates for Inotiv, Inc., crucial for understanding the company's current performance and future outlook.
Risk Assessment
Risk Level: medium — As a publicly traded company, Inotiv faces inherent market and operational risks detailed in its SEC filings.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter and nine-month period covered by the report.)
- 20240809 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
- 0930 — Fiscal Year End (Specifies the end date of Inotiv's fiscal year.)
Key Players & Entities
- Inotiv, Inc. (company) — Filer of the 10-Q
- BIOANALYTICAL SYSTEMS INC (company) — Former name of Inotiv, Inc.
- West Lafayette, Indiana (location) — Company headquarters location
- 0000720154 (company) — Central Index Key for Inotiv, Inc.
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
What is the company's Central Index Key (CIK)?
The Central Index Key for Inotiv, Inc. is 0000720154.
When was Inotiv, Inc. formerly known as?
Inotiv, Inc. was formerly known as BIOANALYTICAL SYSTEMS INC.
Where is Inotiv, Inc. headquartered?
Inotiv, Inc. is headquartered in West Lafayette, Indiana.
What is the fiscal year end for Inotiv, Inc.?
Inotiv, Inc.'s fiscal year ends on September 30.
Filing Stats: 4,811 words · 19 min read · ~16 pages · Grade level 17.7 · Accepted 2024-08-08 19:16:24
Filing Documents
- notv-20240630.htm (10-Q) — 1537KB
- notv-20240630xexx10510q.htm (EX-10.5) — 94KB
- notv-20240630xexx10610q.htm (EX-10.6) — 46KB
- notv-20240630xexx10710q.htm (EX-10.7) — 35KB
- notv-20240630xexx10810q.htm (EX-10.8) — 29KB
- notv-20240630xexx31110q.htm (EX-31.1) — 10KB
- notv-20240630xexx31210q.htm (EX-31.2) — 10KB
- notv-20240630xexx32110q.htm (EX-32.1) — 4KB
- notv-20240630xexx32210q.htm (EX-32.2) — 5KB
- 0001628280-24-036297.txt ( ) — 8893KB
- notv-20240630.xsd (EX-101.SCH) — 73KB
- notv-20240630_cal.xml (EX-101.CAL) — 102KB
- notv-20240630_def.xml (EX-101.DEF) — 280KB
- notv-20240630_lab.xml (EX-101.LAB) — 794KB
- notv-20240630_pre.xml (EX-101.PRE) — 530KB
- notv-20240630_htm.xml (XML) — 1156KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 37 Item 3
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 55 Item 4
Controls and Procedures
Controls and Procedures 55 PART II OTHER INFORMATION Item 1
Legal Proceedings
Legal Proceedings 57 Item 1A
Risk Factors
Risk Factors 57 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 64 Item 3 Defaults Upon Senior Securities 65 Item 4 Mine Safety Disclosures 65 Item 5 Other Information 65 Item 6 Exhibits 67
Signatures
Signatures 68 3 Table of Contents Index to Unaudited Condensed Consolidated Financial Statements Page NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 11 1. DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION 11 2. REVENUE FROM CONTRACTS WITH CUSTOMERS 16 3. SEGMENT AND GEOGRAPHIC INFORMATION 17 4. BUSINESS COMBINATIONS 18 5. INTANGIBLE ASSETS 20 6. DEBT 20 7. SUPPLEMENTAL BALANCE SHEET INFORMATION 27 8. DEFINED BENEFIT PLAN 29 9. OTHER OPERATING EXPENSE 29 10. RESTRUCTURING AND ASSETS HELD FOR SALE 30 11. LEASES 31 12. EQUITY, STOCK-BASED COMPENSATION AND EARNINGS (LOSS) PER SHARE 32 13. INCOME TAXES 33 14. CONTINGENCIES 34 15. SUBSEQUENT EVENTS 37 4 Table of Contents INOTIV, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share amounts) (unaudited) June 30, September 30, 2024 2023 Assets Current assets: Cash and cash equivalents $ 14,434 $ 35,492 Trade receivables and contract assets, net of allowances for credit losses of $ 5,780 and $ 7,446 , respectively 63,867 87,383 Inventories, net 38,684 56,102 Prepaid expenses and other current assets 32,248 33,408 Assets held for sale — 1,418 Total current assets 149,233 213,803 Property and equipment, net 189,703 191,068 Operating lease right-of-use assets, net 45,216 38,866 Goodwill 94,286 94,286 Other intangible assets, net 282,540 308,428 Other assets 13,610 10,079 Total assets $ 774,588 $ 856,530 Liabilities, shareholders' equity and noncontrolling interest Current liabilities: Accounts payable $ 28,325 $ 32,564 Accrued expenses and other current liabilities 28,064 25,776 Fees invoiced in advance 38,695 55,622 Current portion of long-term operating lease 11,439 10,282 Current portion of long-term debt 378,550 7,950 Total current liabilities 485,073 132,194 Long-term operating leases, net 35,899 29,614 Long-term debt, less current portion, net of debt issuance costs 3,897 369,795 Other long-