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 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.
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