Inotiv Inc Stock Price, News & Analysis

Inotiv (Nasdaq: NOTV) has been awarded the 2022 North American Customer Value Leadership Award by Frost & Sullivan for its excellence in bio-analytical testing services. The company specializes in contract research services and research products, providing comprehensive R&D solutions supported by experienced scientists and state-of-the-art facilities. Inotiv's drug discovery approach emphasizes client value through direct resource allocation, experienced scientific guidance, and innovative methodologies. The company is committed to enhancing its market position by strategically acquiring firms to boost revenues and client offerings, ensuring a client-first approach. This award highlights Inotiv's unique focus on elevating customer value, leading to improved satisfaction and retention.

Inotiv, Inc. (NASDAQ: NOTV) reported Q1 FY 2023 revenue of $122.8 million, up 45.8% from $84.2 million in Q1 FY 2022. Growth was driven by a $8.3 million increase in Discovery and Safety Assessment (DSA) revenue and $30.3 million in Research Models and Services (RMS) revenue, attributed to acquisitions and rising demand. However, the Company recorded a net loss of $(86.9 million), worsened by a $66.4 million non-cash goodwill impairment charge. Adjusted EBITDA fell to $(5.5 million). Inotiv reaffirmed FY 2023 guidance of at least $580 million in revenue and $75 million in Adjusted EBITDA.

Inotiv, Inc. (NASDAQ: NOTV) will announce its financial results for the first quarter of fiscal 2023, ended December 31, 2022, on February 13, 2023, after market close. A conference call will follow at 4:30 p.m. ET to discuss the results. Participants can dial (877) 407-9753 for domestic calls and (201) 493-6739 internationally. The call will also be available via webcast on the Investors section of Inotiv's website.

Inotiv is a contract research organization focused on drug discovery and development services. The company supports R&D projects while striving to enhance efficiency and reduce costs.

Inotiv, Inc. (NASDAQ: NOTV) announces David Landman as the new Shareholder Representative on its Board of Directors, succeeding Scott Cragg. Cragg is stepping down to focus on his role as Partner at AS Birch Grove. Landman, a Senior Adviser at Perella Weinberg Partners, brings significant experience in financing and mergers. He will serve the remaining Class III term and chair the Compensation Committee. Inotiv, a contract research organization, aims to enhance its strategic growth following the acquisition of Envigo in November 2021. The management transition is positioned to leverage Landman’s expertise for future growth opportunities.

Inotiv (NOTV) announced its FY 2022 financial results, reporting a revenue surge to $547.7 million from $89.6 million in FY 2021. The growth was propelled by a $75.7 million increase in Discovery and Safety Assessment (DSA) revenue and $382.4 million from Research Models and Services (RMS). Despite this, the company recorded a consolidated net loss of $(337.3 million), influenced by a $236.0 million goodwill impairment charge. Looking ahead, Inotiv projects at least $580 million in revenue and $75 million in Adjusted EBITDA for FY 2023, amid challenges linked to non-human primate supply disruptions.

Inotiv, Inc. (NASDAQ: NOTV) will release its financial results for the fiscal 2022 fourth quarter and full year ended September 30, 2022, on January 10, 2023, after market close. A conference call will follow at 5:00 p.m. Eastern Time to discuss these results. Investors can join the call via domestic and international dial-ins. The results and subsequent call are crucial for stakeholders as they will provide insights into the Company's operational performance and market standing.

Inotiv, Inc. (NASDAQ: NOTV) announced a delay in releasing its financial results for FY 2022 due to ongoing U.S. legal issues with a principal supplier of non-human primates (NHPs). Total revenue is preliminarily expected to rise to approximately $547.7 million, significantly up from $89.6 million in FY 2021. The company's DSA backlog increased to $147.2 million. The company is cooperating with authorities while reassessing its financial processes and may need a waiver for financial covenants with lenders.

Inotiv, Inc. (NASDAQ: NOTV) announced significant expansions with the opening of its new lab facility in Rockville, MD, dedicated to bioanalysis and biomarker assays for biotherapeutics. Additionally, a pathology campus and training center in Kalamazoo, MI, is set to open in January 2023, enhancing nonclinical pathology services. The Boulder, CO facility has also expanded, increasing capacity by 30%. Inotiv's organic growth rate exceeded 30% through Q3 FY 2022, aiming to address service bottlenecks and enhance client support in drug development.