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Mar 31, 2021
Inotiv Q2 2021 Earnings Report
Inotiv's financial results for Q2 2021 were announced, revealing revenue growth driven by internal expansion and strategic investments in infrastructure.
Key Takeaways
Inotiv, Inc. reported a 17.1% increase in revenue to $18.8 million for Q2 FY 2021, driven by internal growth, with service segment revenue increasing by 17.8% to $17.9 million. However, the company experienced a net loss of $(723,000), or $(0.06) per diluted share, due to increased investments in infrastructure and unallocated corporate expenses.
Q2 FY 2021 revenue increased by 17.1% to $18.8 million compared to Q2 FY 2020.
Service segment revenue grew by 17.8% to $17.9 million, driven by internal growth.
Net loss for Q2 FY 2021 was $(723,000), or $(0.06) per diluted share, compared to $(588,000) in Q2 FY 2020.
Strategic investments in G&A and expenses related to acquisitions negatively impacted operating margin.
Forward Guidance
Inotiv is positioned for continued growth through investments in additional service offerings, increased backlog, and expected contributions from recent acquisitions.
Positive Outlook
- Investments in additional service offerings.
- Increased backlog.
- Expected contributions from HistoTox Labs and Bolder BioPATH acquisitions.
- Unified organization under a client-service oriented culture.
- Completed equity capital raise and debt financing.
Challenges Ahead
- Higher unallocated corporate expenses for due diligence.
- Legal support expenses.
- Integration planning expenses related to acquisitions.
- Investments in G&A, including people, capacity, infrastructure, systems and services.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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