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Sep 30, 2023
Inotiv Q4 2023 Earnings Report
Reported a decrease in total revenue, driven by a reduction in RMS revenue, partially offset by an increase in DSA revenue. Consolidated net loss and Adjusted EBITDA were also reported.
Key Takeaways
Inotiv reported Q4 FY2023 financial results, with revenue at $140.7 million, a decrease of 6.5% compared to Q4 FY2022. The company's net loss was $8.7 million, an improvement from the $243.6 million loss in the same period last year. Adjusted EBITDA was $23.7 million, up from $18.3 million in Q4 FY2022.
Revenue was $140.7 million, a decrease of 6.5% compared to Q4 FY 2022.
Consolidated net loss was $8.7 million, an improvement from a $243.6 million loss in Q4 FY 2022.
Adjusted EBITDA was $23.7 million, compared to $18.3 million in Q4 FY 2022.
Net book-to-bill ratio for DSA services business was 0.65x.
Forward Guidance
Fiscal 2024 revenues are expected to be in the range of $580 to $590 million. Adjusted EBITDA guidance is expected to be in the range of $75 to $80 million.
Positive Outlook
- Expect gains in DSA sales.
- Expect increased margins from the DSA segment.
- Anticipate cost reductions initiated in fiscal 2023.
- Expect to remain in compliance with financial covenants for the fiscal year.
- Expect capital expenditures to be approximately 4.5% of revenue in fiscal 2024.
Challenges Ahead
- Expect flat to decreasing RMS sales based on the possible reduction in NHP sales.
- Projected reduction in future NHP margins.
- Impact of public health emergencies, including COVID-19, on the economy.
- Demand for services and products and operations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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