Inotiv, Inc. Files Q1 2025 10-Q Report
Ticker: NOTV · Form: 10-Q · Filed: Feb 6, 2025 · CIK: 720154
Sentiment: neutral
Topics: 10-Q, quarterly-report, research-services
TL;DR
Inotiv's Q1 2025 10-Q is in. Check financials for research services biz.
AI Summary
Inotiv, Inc. filed its 10-Q for the period ending December 31, 2024. The company, headquartered in West Lafayette, Indiana, operates in the commercial physical and biological research sector. This filing covers the first quarter of their fiscal year, which ends on September 30th. Specific financial details and operational updates are provided within the report.
Why It Matters
This 10-Q filing provides investors and stakeholders with a quarterly update on Inotiv's financial performance and operational status, crucial for assessing the company's health and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company filing quarterly reports, Inotiv faces inherent market and operational risks that are detailed within its SEC filings.
Key Numbers
- Q1 2025 — Fiscal Quarter (Reporting period covered by the 10-Q)
- September 30 — Fiscal Year End (Annual closing date for Inotiv's financial reporting)
Key Players & Entities
- Inotiv, Inc. (company) — Filer of the 10-Q report
- 2024-12-31 (date) — End of the reporting period
- 2025-02-06 (date) — Date the filing was made
- West Lafayette, Indiana (location) — Company headquarters
- 8731 (number) — Standard Industrial Classification code for Services-Commercial Physical & Biological Research
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the quarter ended December 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on February 6, 2025.
What is Inotiv, Inc.'s primary business sector?
Inotiv, Inc.'s primary business sector is Services-Commercial Physical & Biological Research, with SIC code 8731.
Where is Inotiv, Inc. headquartered?
Inotiv, Inc. is headquartered at 2701 Kent Ave, West Lafayette, IN 47906-1382.
What is Inotiv's fiscal year end?
Inotiv's fiscal year ends on September 30th.
Filing Stats: 4,520 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2025-02-05 21:20:16
Filing Documents
- notv-20241231.htm (10-Q) — 1107KB
- notv-20241231xexx31110q.htm (EX-31.1) — 10KB
- notv-20241231xexx31210q.htm (EX-31.2) — 10KB
- notv-20241231xexx32110q.htm (EX-32.1) — 4KB
- notv-20241231xexx32210q.htm (EX-32.2) — 5KB
- 0001628280-25-004178.txt ( ) — 7497KB
- notv-20241231.xsd (EX-101.SCH) — 68KB
- notv-20241231_cal.xml (EX-101.CAL) — 87KB
- notv-20241231_def.xml (EX-101.DEF) — 296KB
- notv-20241231_lab.xml (EX-101.LAB) — 776KB
- notv-20241231_pre.xml (EX-101.PRE) — 526KB
- notv-20241231_htm.xml (XML) — 875KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 47 Item 4
Controls and Procedures
Controls and Procedures 48 PART II OTHER INFORMATION Item 1
Legal Proceedings
Legal Proceedings 49 Item 1A
Risk Factors
Risk Factors 50 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 50 Item 3 Defaults Upon Senior Securities 50 Item 4 Mine Safety Disclosures 50 Item 5 Other Information 50 Item 6 Exhibits 51
Signatures
Signatures 52 3 Table of Contents INOTIV, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share amounts) December 31, September 30, 2024 2024 (Unaudited) Assets Current assets: Cash and cash equivalents $ 38,043 $ 21,432 Trade receivables and contract assets, net of allowances for credit losses of $ 6,421 and $ 6,931 , respectively 70,140 73,560 Inventories, net 31,557 18,173 Prepaid expenses and other current assets 29,661 50,248 Assets held for sale 2,016 — Total current assets 171,417 163,413 Property and equipment, net 182,279 188,328 Operating lease right-of-use assets, net 48,827 49,165 Goodwill 94,286 94,286 Other intangible assets, net 264,767 274,396 Other assets 11,331 11,773 Total assets $ 772,907 $ 781,361 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 24,954 $ 33,526 Accrued expenses and other current liabilities 25,500 28,218 Fees invoiced in advance 46,129 41,986 Current portion of long-term operating lease 9,505 11,774 Current portion of long-term debt 3,037 3,538 Total current liabilities 109,125 119,042 Long-term operating leases, net 41,588 40,010 Long-term debt, less current portion, net of debt issuance costs 392,978 389,801 Other long-term liabilities 35,360 34,963 Deferred tax liabilities, net 24,024 27,041 Total liabilities 603,075 610,857 Contingencies (Note 12) Shareholders' equity: Common shares, no par value: Authorized 74,000,000 shares at December 31, 2024 and at September 30, 2024; 33,717,662 issued and outstanding at December 31, 2024 and 26,015,129 at September 30, 2024 8,391 6,466 Additional paid-in capital 752,136 724,789 Accumulated deficit ( 589,794 ) ( 562,163 ) Accumulated other comprehensive (loss) income ( 901 ) 1,412 Total equity 169,832 170,504 Total liabilities and shareholders' equity $ 772,907 $ 781,361 The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. 4 Tabl