Inotiv, Inc. reported a total revenue of $117.7 million for the three months ended March 31, 2026, a decrease of 5.4% from $124.3 million in the same period last year. The decline was primarily driven by a 10.7% drop in revenue from the Research Models and Services (RMS) segment, which fell to $70.6 million, while the Discovery and Safety Assessment (DSA) segment saw a modest increase of 3.9% to $47.1 million. The company's consolidated net loss for the quarter was $32.5 million, or 27.6% of total revenue, compared to a net loss of $14.9 million, or 12.0% of total revenue, in the prior year.

For the six months ended March 31, 2026, Inotiv's total revenue was $238.5 million, down 2.3% from $244.2 million in the same period of 2025. The RMS segment experienced a more significant decline, with revenue decreasing by 8.0% to $143.5 million, while the DSA segment's revenue increased by 7.8% to $95.0 million. The consolidated net loss for the first half of the fiscal year was $60.8 million, representing 25.5% of total revenue, compared to a loss of $42.5 million, or 17.4% of total revenue, in the previous year.

Inotiv's operational metrics indicate a book-to-bill ratio of 1.14x for the DSA services business in the latest quarter, with a backlog of $151.8 million as of March 31, 2026, up from $138.2 million at the end of September 2025. The company has also been actively managing its costs, with total operating expenses for the RMS segment increasing significantly due to a one-time settlement payment in the previous year that did not recur in the current period.

The company continues to face challenges related to its financial covenants under its Credit Agreement, which were amended in February 2026 to increase the minimum liquidity requirement to $30 million. As of March 31, 2026, Inotiv had cash and cash equivalents of approximately $15.2 million and an outstanding balance of $13 million on its revolving credit facility. The company has acknowledged that it may not be able to comply with its financial covenants in the future, which could lead to defaults on its debt obligations. Management is exploring various strategic alternatives, including potential recapitalization or restructuring transactions, to improve its liquidity and operational performance moving forward.

About Inotiv, Inc.

Inotiv is a contract research organization providing nonclinical drug discovery, safety assessment, and analytical services to pharmaceutical, biotech, and medical device industries. It offers research models, laboratory animals, diets, and specialized testing services to support early-stage research, preclinical development, and regulatory submissions. With a focus on quality, animal welfare, and regulatory compliance, Inotiv enables clients to accelerate drug development and reduce costs.

This description was generated via AI from an annual report. Updated 8 months ago.

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