Inotiv Q3 revenue $157.5M (-8.8% YoY); cuts FY2023 guidance to at least $570M

Inotiv, Inc.

2023-Q3 EPS reported -$3.72 revenue$431,685,000

Q3 revenue $157.5M, down 8.8% YoY; net income $0.4M vs loss $(3.6M) in Q3 FY2022.
Adjusted EBITDA $30.5M (19.4% of revenue) vs $37.0M (21.4%) prior year.
FY2023 guidance cut: revenue at least $570M (from $580M), adjusted EBITDA at least $60M (from $70M).
DSA backlog $149.1M, net book-to-bill 1.08x; YTD RMS goodwill impairment $66.4M.
Cash $22.2M; total debt $375.6M; no borrowings on $15M revolver; in compliance with debt covenants.

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 0.91

Inotiv, Inc. reported YTD FY 2023 (nine months ended June 30, 2023) results: revenue $431.7 million, net income $(96.2) million.

Period: YTD FY 2023 (nine months ended June 30, 2023)
Revenue: $431.7 million
Net income: $(96.2) million
Result: reported results

Exact text from the filing

Revenue grew to $431.7 million in YTD FY 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.91

Inotiv, Inc. reported Q3 FY 2023 (three months ended June 30, 2023) results: revenue $157.5 million, net income $0.4 million.

Period: Q3 FY 2023 (three months ended June 30, 2023)
Revenue: $157.5 million
Net income: $0.4 million
Result: reported results

Exact text from the filing

Financial Highlights Q3 FY 2023 Highlights • Revenue was $157.5 million in Q3 FY 2023 as compared to $172.7 million during the three months ended June 30, 2022 (“Q3 FY 2022”), driven by a $2.4 million, or 5.0%, decrease in Discovery and Safety Assessment (“DSA”) revenue and a $12.7 million, or 10.3%, decrease in Research Models and Services (“RMS”) revenue.

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Source: SEC EDGAR

accession 0001628280-23-028853

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