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Sep 30, 2024
Inotiv Q4 2024 Earnings Report
Inotiv's Q4 2024 financial results were announced, revealing a revenue decrease of 7.3% compared to the same quarter last year, alongside a consolidated net loss.
Key Takeaways
Inotiv reported a 7.3% decrease in revenue for Q4 2024, totaling $130.4 million, and a net loss of $18.9 million. The revenue decline was primarily driven by decreases in both Discovery and Safety Assessment (DSA) and Research Models and Services (RMS) segments. Despite the challenges, the company completed site optimization plans, saw some recovery in NHP sales, and amended its credit agreement.
Q4 FY 2024 revenue decreased by 7.3% year-over-year to $130.4 million.
Consolidated net loss for Q4 FY 2024 was $18.9 million, compared to a net loss of $8.7 million in Q4 FY 2023.
Adjusted EBITDA for Q4 FY 2024 was $5.4 million, down from $23.7 million in Q4 FY 2023.
DSA backlog was $129.9 million at the end of September 2024, slightly down from $132.1 million the previous year.