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Dec 31, 2020
Inotiv Q1 2021 Earnings Report
Inotiv's first quarter of fiscal year 2021 showed revenue growth and improved financial results.
Key Takeaways
Inotiv reported a 38.5% increase in revenue, positive operating income, and $1.3 million in adjusted EBITDA for Q1 FY 2021. The company's unification under the Inotiv brand and client-service oriented culture drove performance, reflected in increasing revenue, a quarter-end backlog of $45.3 million, and a book-to-bill ratio of 1.16x.
Revenue increased by 38.5% year-over-year to $17.9 million.
Service segment revenue increased by 40.3% to $17.0 million.
The company's backlog at the end of Q1 FY 2021 was $45.3 million.
Adjusted EBITDA increased 169.4% to $1.3 million.
Inotiv
Inotiv
Forward Guidance
Inotiv anticipates significant opportunities to expand services, generate favorable returns on investments, and drive value for shareholders. They also aim to improve the client experience and strengthen their culture.
Positive Outlook
- Significant opportunities to expand services.
- Potential to generate favorable returns on investments.
- Aim to drive value for shareholders.
- Opportunities to improve and escalate the client experience.
- Goal to strengthen winning culture and create a gratifying work environment.