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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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