8-K
filed May 11, 2023, 7:59 PM ET
ticker NOTV
CIK 0000720154
earnings
confidence high
sentiment negative
materiality 0.75
Inotiv Q2 FY2023 revenue $151.5M (+8% YoY); net loss $(9.6)M; cuts FY23 Adj EBITDA guidance to $70M
Inotiv, Inc.
2023-Q2 EPS reported
-$3.79
revenue$274,217,000
- Revenue $151.5M in Q2 FY2023, up 8% from $140.3M; DSA segment revenue up 20.2%.
- Net loss $(9.6)M vs $(6.7)M loss a year ago; YTD net loss $(96.6)M includes $66.4M goodwill impairment.
- Adjusted EBITDA $17.1M (11.3% of revenue) vs $25.3M (18.0%) prior year; margin compressed.
- Full-year FY2023 guidance: revenue at least $580M, but Adjusted EBITDA lowered to at least $70M from $75M.
- Book-to-bill 0.95x for DSA; DSA backlog $145.7M; NHP supply disruption and facility consolidations ongoing.
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 Q2 FY 2023 results: revenue $151.5 million, net income $(9.6) million.
- Period
- Q2 FY 2023
- Revenue
- $151.5 million
- Net income
- $(9.6) million
- Result
- reported results
Exact text from the filing
Revenue grew to $151.5 million in Q2 FY 2023 from $140.3 million during the three months ended March 31, 2022 ("Q2 FY 2022"), driven by a $7.9 million, or 20.2%, increase in Discovery and Safety Assessment ("DSA") revenue and a $3.3 million, or 3.3%, increase in Research Models and Services ("RMS") revenue. • Consolidated net loss for Q2 FY 2023 was $(9.6) million, or (6.4)% of total revenue, compared to consolidated net loss of $(6.7) million, or (4.7)% of total revenue, in Q2 FY 2022.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Inotiv, Inc. reported the full fiscal year ending September 30, 2023 results: revenue at least $580 million. Guidance lowered.
- Period
- the full fiscal year ending September 30, 2023
- Revenue
- at least $580 million
- Guidance
- lowered
- Result
- guidance update
Exact text from the filing
For FY 2023, we are confirming guidance of at least $580 million of revenue and capital expenditures of no more than 5% of revenue during FY 2023. However, as a result of the increased legal and third party fees incurred during YTD FY 2023, we are updating our guidance for Adjusted EBITDA to at least $70 million down from previous guidance of $75 million.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Inotiv, Inc. reported YTD FY 2023 results: revenue $274.2 million, net income $(96.6) million.
- Period
- YTD FY 2023
- Revenue
- $274.2 million
- Net income
- $(96.6) million
- Result
- reported results
Exact text from the filing
Revenue grew to $274.2 million in YTD FY 2023 from $224.5 million during the six months ended March 31, 2022 ("YTD FY 2022"), driven by a $16.2 million, or 22.5%, increase in DSA revenue and a $33.5 million, or 22.0%, increase in RMS revenue. • Consolidated net loss for YTD FY 2023 was $(96.6) million, or (35.2)% of total revenue, compared to consolidated net loss of $(90.1) million, or (40.1)% of total revenue, in YTD FY 2022.
View on SEC.gov
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