Inotiv Q4 FY2022 net loss $243.6M includes $236M goodwill impairment; sees FY2023 rev ≥$580M

Inotiv, Inc.

2023-Q1 EPS reported -$3.41 revenue$122,754,000

Full year revenue $547.7M (up from $89.6M); net loss $(337.3)M vs net income $10.9M prior year.
Q4 revenue $150.5M (up from $30.1M); net loss $(243.6)M including $236M goodwill impairment in RMS.
Adjusted EBITDA FY 2022: $90.5M (16.5% of revenue) vs $9.3M (10.4%) prior year.
FY 2023 guidance: revenue ≥$580M, Adj. EBITDA ≥$75M; Q1 rev $118-122M due to NHP disruption.
Indictment of NHP supplier; company halts Cambodian NHP sales; credit agreement amendments restrict borrowing.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Inotiv, Inc. reported the three months ended September 30, 2022 results: revenue $150.5 million, net income $(243.6) million. Guidance initiated.

Period: the three months ended September 30, 2022
Revenue: $150.5 million
Net income: $(243.6) million
Guidance: initiated
Result: reported results

Exact text from the filing

Q4 FY 2022 Highlights · Revenue grew to $150.5 million in Q4 FY 2022 from $30.1 million during the three months ended September 30, 2021 (“Q4 FY 2021”), driven by a $14.1 million rise in DSA revenue and $106.3 million of incremental revenue from our RMS business. Favorable pricing for both segments and increased customer demand in DSA produced revenue exceeding acquisition contributions. · Consolidated net loss for Q4 FY 2022 was $(243.6) million, or (161.9)% of total revenue, compared to consolidated net income of $9.4 million, or 31.2% of total revenue in Q4 FY 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Inotiv, Inc. reported FY 2023 results: revenue at least $580 million. Guidance initiated.

Period: FY 2023
Revenue: at least $580 million
Guidance: initiated
Result: guidance update

Exact text from the filing

For FY 2023, we are providing guidance of at least $580 million of revenue and at least $75 million of Adjusted EBITDA.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Inotiv, Inc. reported the twelve months ended September 30, 2022 results: revenue $547.7 million, net income $(337.3) million. Guidance initiated.

Period: the twelve months ended September 30, 2022
Revenue: $547.7 million
Net income: $(337.3) million
Guidance: initiated
Result: reported results

Exact text from the filing

FY 2022 Highlights · Revenue grew to $547.7 million in FY 2022 from $89.6 million during the twelve months ended September 30, 2021 (“FY 2021”), driven by a $75.7 million rise in Discovery and Safety Assessment (“DSA”) revenue and $382.4 million of incremental revenue from our Research Models and Services (“RMS”) business. Growth resulted primarily from acquisitions and growing customer demands along with favorable pricing. · Consolidated net loss for FY 2022 was $(337.3) million, or (61.6)% of total revenue, compared to consolidated net income of $10.9 million, or 12.2% of total revenue, in FY 2021.

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Source: SEC EDGAR

accession 0001104659-23-002730

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