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Inotiv, Inc. - NOTV STOCK NEWS

Welcome to our dedicated page for Inotiv news (Ticker: NOTV), a resource for investors and traders seeking the latest updates and insights on Inotiv stock.

Inotiv, Inc. (NASDAQ: NOTV) is a leading contract research organization (CRO) dedicated to providing nonclinical and analytical drug discovery and development services, as well as research models and related products. The Company operates through two primary segments: Discovery and Safety Assessment (DSA) and Research Models and Services (RMS). The DSA segment supports the discovery, nonclinical, and clinical development needs of researchers and clinicians, offering a comprehensive suite of services for small molecule drug candidates, biotherapeutics, and biomedical devices.

Inotiv’s RMS segment provides access to a broad range of small and large research models for basic research, drug discovery, and development. The segment also specializes in models for specific diseases and therapeutic areas, contributing significantly to the company’s revenue.

Among Inotiv’s notable products is the innovative Culex® Automated In Vivo Sampling System, which enables efficient collection of various samples and data from awake, freely-moving subjects. This system highlights the company's commitment to cutting-edge scientific instrumentation.

Inotiv has recently achieved significant milestones. It ranked 127th on the Deloitte Technology Fast 500™, boasting a remarkable 1156% revenue growth. This growth is attributed to strategic capacity additions, key integration initiatives, optimization of infrastructure, and a purpose-driven acquisition strategy. The company's president and CEO, Robert Leasure, Jr., attributes this success to the dedicated team, strong organic growth, and a growing client base.

The company’s efforts to enhance its operations include the integration of in-house transportation to streamline processes, increase efficiency, and improve client service. Additionally, Inotiv has reaffirmed its commitment to animal welfare, agreeing to invest $7 million over three years in facility and personnel improvements and making payments totaling $22 million in fines over four years.

Financially, Inotiv reported a 10.3% increase in revenue to $135.5 million for Q1 FY 2024. The company continues to maintain compliance with its financial covenants and expects to generate fiscal 2024 revenues between $580 million and $590 million with an adjusted EBITDA of $75 million to $80 million.

Inotiv’s ongoing projects include the completion of the Hillcrest, U.K. expansion, which will consolidate operations and support growth. The company also extended the maturity date of a payable note related to its OBRC acquisition, reflecting its strategic flexibility and focus on optimizing its balance sheet.

Inotiv, Inc. remains dedicated to advancing drug discovery and development, enhancing data quality, and reducing the cost of bringing new drugs to market. The company’s strategic initiatives aim to improve efficiency, expand service offerings, and build a healthier and safer world.

For more information, visit Inotiv’s official website.

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Inotiv, Inc. will release its fiscal 2024 second quarter financial results on May 10, 2024. The Company specializes in nonclinical and analytical drug discovery services. A conference call will be held on the same day to discuss the results.

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Inotiv, Inc. (Nasdaq: NOTV) reported a 10.3% increase in revenue to $135.5 million for the first quarter of fiscal 2024. DSA revenue increased by 8.8% to $44.7 million, and RMS revenue increased by 11.1% to $90.8 million. The company plans to focus on sales and marketing as infrastructure projects near completion. The net loss for Q1 FY 2024 was $15.8 million, down from $86.9 million in Q1 FY 2023. Adjusted EBITDA for Q1 FY 2024 was $9.6 million, compared to $(5.5) million in Q1 FY 2023. The DSA backlog was $152.3 million at December 31, 2023, up from $132.1 million at September 30, 2023. The company reaffirms fiscal 2024 revenues are expected to be in the range of $580 to $590 million, and adjusted EBITDA is expected to be in the range of $75 to $80 million.
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Inotiv, Inc. (NOTV) will release its fiscal 2024 first-quarter financial results on February 7, 2024, after the stock market closes. The company will host a conference call to discuss the results at 4:30 p.m. Eastern Time on the same day. Interested parties can participate by dialing the provided numbers or accessing the live conference call webcast on the company's website. An online replay will also be available for those unable to listen to the live broadcast.
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Inotiv, Inc. (Nasdaq: NOTV) announced fiscal year 2023 revenue of $572.4 million, up 4.5% from the previous year. The company expects to continue growing its DSA revenues in fiscal 2024 and anticipates achieving expense reductions. The press release also highlights the completion of site optimization projects and expansion activities, along with financial and operational improvements.
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Inotiv, Inc. (Nasdaq: NOTV) announced a partnership with Vanguard Supply Chain Solutions LLC to integrate its North American transportation operations in-house, expecting to achieve key efficiencies and improve its outgoing supply chain. The transition is expected to be complete by early January 2024.
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Inotiv, Inc. (NOTV) to Release Financial Results for Fiscal 2023 Q4 and Full Year on December 11, 2023
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Inotiv, Inc. (Nasdaq: NOTV) provides business updates, including operational and investor conference participation details. The company focuses on expanding its range of services, generating revenue growth, and increasing margins through infrastructure expansion, integration, and asset sales. Inotiv aims to improve its ability to recruit and retain talent, produce positive returns for shareholders, and report fiscal 2023 audited results.
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Inotiv (ticker: INOT) attributes 1156% revenue growth to strategic capacity, key integration initiatives, infrastructure optimization, and global footprint right-sizing. Ranked 127 on the Deloitte Technology Fast 500™, Inotiv credits aggressive acquisition strategy, talented team, new services, organic growth, and growing client base for the top line growth over the past five years.
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Inotiv, Inc. will participate in multiple investor conferences in November 2023. The conferences include the Jefferies London Healthcare Conference on November 15 in London, the 14th Annual Craig-Hallum Alpha Select Conference on November 16 in New York, and the 6th Annual Evercore ISI HealthCONx Conference on November 29 in Miami. The webcast presentations will be available for viewing and replay on the company's website.
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Inotiv completes sale of businesses in Israel, receiving cash of $1.2 million and a note receivable of $2.5 million. Enters into supply and breeding agreements. Right-sizing global footprint and maintaining strong growth.
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FAQ

What is the current stock price of Inotiv (NOTV)?

The current stock price of Inotiv (NOTV) is $1.905 as of November 5, 2024.

What is the market cap of Inotiv (NOTV)?

The market cap of Inotiv (NOTV) is approximately 53.8M.

What services does Inotiv, Inc. provide?

Inotiv, Inc. offers nonclinical and analytical drug discovery and development services, including preclinical toxicology, bioanalysis, and pharmaceutical analysis. It also provides research models and related services.

What are the main segments of Inotiv, Inc.?

Inotiv operates through two segments: Discovery and Safety Assessment (DSA), which supports drug development needs, and Research Models and Services (RMS), which provides research models for drug discovery and specific disease studies.

What recent achievements has Inotiv, Inc. accomplished?

Inotiv recently ranked 127th on the Deloitte Technology Fast 500™, with 1156% revenue growth. The company credits its growth to strategic capacity additions, key integration initiatives, and a focus on optimization.

What is the Culex® Automated In Vivo Sampling System?

The Culex® Automated In Vivo Sampling System is an innovative product by Inotiv that collects various samples and data from awake, freely-moving subjects, enhancing efficiency in scientific research.

How is Inotiv, Inc. enhancing its operations?

Inotiv is integrating in-house transportation to streamline processes and improve efficiency. The company is also focused on optimizing its infrastructure and right-sizing its global footprint.

What is Inotiv's commitment to animal welfare?

Inotiv has committed to investing $7 million in improvements to facilities and personnel related to animal welfare and agreed to pay $22 million in fines over four years as part of its commitment to maintaining high standards.

What are Inotiv's financial highlights for Q1 FY 2024?

In Q1 FY 2024, Inotiv reported a 10.3% increase in revenue to $135.5 million, with a significant reduction in operating loss compared to the previous year. The company also maintained compliance with its financial covenants.

What are Inotiv's fiscal 2024 revenue and EBITDA expectations?

Inotiv expects fiscal 2024 revenues to be between $580 million and $590 million, with adjusted EBITDA in the range of $75 million to $80 million.

What is the significance of the Hillcrest, U.K. expansion for Inotiv?

The Hillcrest, U.K. expansion is a key part of Inotiv's transformation plan, allowing consolidation of operations and supporting growth. It is expected to bring long-term efficiency gains and benefits.

Where can I find more information about Inotiv, Inc.?

For more information, visit Inotiv’s official website at https://www.inotivco.com/.

Inotiv, Inc.

Nasdaq:NOTV

NOTV Rankings

NOTV Stock Data

53.83M
26.00M
13.48%
17.28%
4.98%
Diagnostics & Research
Services-commercial Physical & Biological Research
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United States of America
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