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Mar 31, 2020
Inotiv Q2 2020 Earnings Report
Inotiv's financial performance significantly increased due to acquisitions and internal growth, but experienced a net loss due to increased costs.
Key Takeaways
Inotiv reported a 71.4% increase in revenue for the second quarter of fiscal year 2020, driven by organic growth and acquisitions. However, the company experienced a net loss of $588,000 due to increased costs associated with acquisitions and non-recurring expenses.
Revenue increased by 71.4% to $16.012 million compared to the second quarter of fiscal 2019.
Net loss was $588,000, or $0.05 per diluted share, compared to a net loss of $569,000, or $0.06 per diluted share for the second quarter of fiscal 2019.
Service revenue increased by 86.8% to $15.191 million, driven by organic growth and acquisitions.
Adjusted EBITDA amounted to $1.109 million, compared to $267,000 for the second quarter of fiscal 2019.
Inotiv
Inotiv
Forward Guidance
Inotiv plans to continue integrating its businesses, developing its infrastructure, and evaluating further growth opportunities and new services.
Positive Outlook
- Continue working on the integration of combined businesses and added services.
- Further develop infrastructure.
- Further develop project management.
- Further develop sales and marketing.
- Further develop client services and branding.