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Dec 31, 2023
Inotiv Q1 2024 Earnings Report
Inotiv's Q1 2024 financial results were reported, showing revenue growth and a reduced net loss.
Key Takeaways
Inotiv reported a 10.3% increase in revenue to $135.5 million for Q1 FY 2024, driven by growth in both DSA and RMS segments. The company's net loss significantly improved to $15.8 million compared to $86.9 million in the same period last year. Adjusted EBITDA also saw a positive shift, reaching $9.6 million.
Revenue increased by 10.3% to $135.5 million, driven by growth in both DSA and RMS segments.
DSA revenue increased by 8.8% to $44.7 million, and RMS revenue increased by 11.1% to $90.8 million.
Net loss improved significantly to $15.8 million, compared to a net loss of $86.9 million in Q1 FY 2023.
Adjusted EBITDA was $9.6 million, a notable improvement from $(5.5) million in the previous year.
Inotiv
Inotiv
Inotiv Revenue by Segment
Revenue by Segment
RMS Revenue
CapyFin.comDSA Revenue
CapyFin.com Forward Guidance
Inotiv reaffirms its fiscal 2024 revenue and Adjusted EBITDA guidance.
Positive Outlook
- Fiscal 2024 revenues are expected to be in the range of $580 to $590 million.
- Adjusted EBITDA is expected to be in the range of $75 to $80 million.
- The company expects to continue to remain in compliance with its financial covenants for the next 12 months.
- Capital expenditures are expected to be approximately 4.5% of revenue in fiscal 2024.
- Shift to a renewed focus on sales and marketing as near-term infrastructure projects near completion
Revenue & Expenses
Visualization of income flow from segment revenue to net income