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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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