Inotiv Q3 2024 Earnings Report

Reported a decrease in revenue due to lower NHP demand and pricing, but achieved significant milestones and saw signs of improvement.

Key Takeaways

Inotiv's Q3 2024 revenue decreased by 32.8% to $105.8 million compared to Q3 2023, primarily due to a decline in Research Models and Services (RMS) revenue. The company reported a net loss of $26.1 million, compared to a net income of $0.4 million in the same period last year. Despite the challenges, Inotiv completed site optimization projects and saw the conclusion of certain government investigations.

Revenue decreased by 32.8% to $105.8 million due to lower NHP demand and pricing.

Net loss was $26.1 million, compared to a net income of $0.4 million in Q3 2023.

Adjusted EBITDA was $0.1 million, a significant decrease from $30.5 million in Q3 2023.

Concluded certain government investigations and completed site optimization projects.