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NOTV

Inotiv, Inc.

NOTV

Inotiv, Inc. • NASDAQ
$0.93 ▲ 6.32% (+0.06)
Market Cap $31.80 M
52w High $6.48
52w Low $0.66
Dividend Yield 0%
P/E -0.35
Volume 375.43K
Outstanding Shares 34.36M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $130.683M ▲ $25.612M ▼ $-17.577M ▼ -13.45% ▼ $-0.51 ▼ $9.565M ▼
Q2-2025 $124.323M ▲ $31.929M ▼ $-14.866M ▲ -11.958% ▲ $-0.44 ▲ $11.294M ▲
Q1-2025 $119.876M ▼ $40.545M ▼ $-27.63M ▼ -23.049% ▼ $-1.02 ▼ $-1.791M ▼
Q4-2024 $130.417M ▲ $43.106M ▲ $-18.891M ▲ -14.485% ▲ $-0.73 ▲ $2.865M ▲
Q3-2024 $105.786M $41.833M $-26.087M -24.66% $-1 $-6.715M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.215M ▼ $759.737M ▼ $615.952M ▲ $143.785M ▼
Q2-2025 $19.299M ▼ $765.966M ▼ $608.274M ▲ $157.692M ▼
Q1-2025 $38.043M ▲ $772.907M ▼ $603.075M ▼ $169.832M ▼
Q4-2024 $21.432M ▲ $781.361M ▲ $610.857M ▲ $170.504M ▼
Q3-2024 $14.434M $774.588M $592.481M $182.107M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-17.577M ▼ $-7.448M ▲ $-2.506M ▲ $-3.41M ▼ $-13.084M ▲ $-11.454M ▲
Q2-2025 $-14.866M ▲ $-12.815M ▼ $-5.451M ▼ $-632K ▼ $-18.744M ▼ $-18.288M ▼
Q1-2025 $-27.63M ▼ $-4.497M ▼ $-4.459M ▲ $26.125M ▲ $16.611M ▲ $-8.956M ▼
Q4-2024 $-18.891M ▲ $-2.372M ▲ $-5.249M ▼ $14.564M ▲ $6.998M ▲ $-7.667M ▲
Q3-2024 $-26.087M $-14.806M $-2.953M $-795K $-18.261M $-19.227M

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
Product
Product
 $50.00M ▲$130.00M ▲$70.00M ▼$70.00M ▲
Service
Service
 $50.00M ▲$110.00M ▲$60.00M ▼$60.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Inotiv has grown far beyond its 2021 size, but that growth has not yet translated into sustainable profits. Revenue ramped up quickly after 2021, then softened more recently, suggesting the initial growth spurt is cooling. Gross profit is positive, but not large enough to cover operating costs, leading to recurring operating and net losses. Losses were very heavy at the peak and have narrowed somewhat, but the business remains clearly unprofitable, indicating a need for either higher revenue, better pricing, or tighter cost control to reach break-even.

Balance Sheet

Balance Sheet The balance sheet shows a business that expanded significantly and then started to contract and de-lever only modestly. Total assets rose sharply with acquisitions, but have edged down since, while shareholders’ equity has shrunk as losses accumulated. Debt is sizable relative to both assets and equity, creating a fairly leveraged profile with a thinner safety cushion for setbacks. Cash on hand is low versus the overall balance sheet, which increases the importance of consistent cash generation and access to external financing.

Cash Flow

Cash Flow Cash flow mirrors the income statement pressure. Operating cash flow has hovered around breakeven, swinging between slightly positive and slightly negative, rather than providing a steady surplus. After factoring in ongoing, though modest, capital spending, free cash flow has generally been mildly negative. This pattern suggests the business is still reliant on financing or asset measures to support operations and investments, and it has limited room to maneuver if business conditions weaken further.

Competitive Edge

Competitive Edge Inotiv occupies a focused niche as a “right-sized” preclinical contract research organization. Its combination of research models (including specialized and higher-end species) with discovery and safety assessment services creates a one-stop offering that can be attractive to small and mid-sized drug developers who want close scientific collaboration. The Envigo acquisition broadened its research model portfolio and supply capabilities, strengthening this integrated ecosystem. However, it operates in a fiercely competitive global CRO market with large, well-funded players and numerous specialists, and it must continue to prove that its integrated model, service quality, and responsiveness outweigh the scale advantages of bigger rivals.

Innovation and R&D

Innovation and R&D The company leans heavily on innovation to differentiate itself. Its genetically engineered models using CRISPR technology, deep library of disease models, and proprietary tools like the electrochemical workstation add scientific depth and customization that many clients value. Recent investments in biotherapeutics, cell and gene therapy support, and expanded pathology and bioanalysis facilities push it toward faster-growing segments of drug development. Future upside could come from digital pathology and AI-enabled analytics if effectively executed. The main tension is balancing this innovation agenda with its constrained financial resources and the complexity of integrating past acquisitions.

Summary

Inotiv has built a distinctive, integrated platform in preclinical research, combining research models, specialized services, and proprietary technologies into a client-centric offering. Strategically, the company is aligned with important industry trends such as complex biologics, cell and gene therapies, and customized animal models. Financially, however, it remains in a rebuilding phase: revenues have plateaued after a strong ramp, the business is loss-making, leverage is meaningful, and cash generation is inconsistent. The key issues to watch are whether management can convert its scientific and service strengths into steadier revenue growth, improve profitability and free cash flow, and manage debt and integration risks while continuing to invest in high-value, innovative capabilities.

NEWS

November 25, 2025 · 7:00 AM UTC

Inotiv Ranked Number 182nd Fastest-Growing Company in North America on the 2025 Deloitte Technology Fast 500™

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November 21, 2025 · 7:00 AM UTC

Inotiv, Inc. to Report Fiscal 2025 Fourth Quarter and Full Year Financial Results and Host Conference Call on Wednesday, December 3, 2025

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November 17, 2025 · 4:05 PM UTC

Inotiv, Inc. Announces Preliminary Fiscal 2025 Fourth Quarter and Full Year Results

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October 24, 2025 · 10:20 AM UTC

Halper Sadeh LLC Encourages Inotiv, Inc. Shareholders to Contact the Firm to Discuss Their Rights

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