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.
Inotiv, Inc. (NASDAQ: NOTV) has announced that it will release its fiscal 2023 second quarter financial results, covering the period ending March 31, 2023, on May 11, 2023, following the market close. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss these results. The call will be accessible via phone and online streaming through the Company’s Investor section.
Inotiv is a contract research organization that specializes in nonclinical and analytical drug discovery and development services. The firm aims to improve the efficiency and cost-effectiveness of bringing new medical products to market. The press release also highlights potential risks, including market changes and regulatory compliance, which could impact the Company’s operations and financial condition.
Inotiv (Nasdaq: NOTV) has been awarded the 2022 North American Customer Value Leadership Award by Frost & Sullivan for its excellence in bio-analytical testing services. The company specializes in contract research services and research products, providing comprehensive R&D solutions supported by experienced scientists and state-of-the-art facilities. Inotiv's drug discovery approach emphasizes client value through direct resource allocation, experienced scientific guidance, and innovative methodologies. The company is committed to enhancing its market position by strategically acquiring firms to boost revenues and client offerings, ensuring a client-first approach. This award highlights Inotiv's unique focus on elevating customer value, leading to improved satisfaction and retention.
Inotiv, Inc. (NASDAQ: NOTV) reported Q1 FY 2023 revenue of $122.8 million, up 45.8% from $84.2 million in Q1 FY 2022. Growth was driven by a $8.3 million increase in Discovery and Safety Assessment (DSA) revenue and $30.3 million in Research Models and Services (RMS) revenue, attributed to acquisitions and rising demand. However, the Company recorded a net loss of $(86.9 million), worsened by a $66.4 million non-cash goodwill impairment charge. Adjusted EBITDA fell to $(5.5 million). Inotiv reaffirmed FY 2023 guidance of at least $580 million in revenue and $75 million in Adjusted EBITDA.
Inotiv, Inc. (NASDAQ: NOTV) will announce its financial results for the first quarter of fiscal 2023, ended December 31, 2022, on February 13, 2023, after market close. A conference call will follow at 4:30 p.m. ET to discuss the results. Participants can dial (877) 407-9753 for domestic calls and (201) 493-6739 internationally. The call will also be available via webcast on the Investors section of Inotiv's website.
Inotiv is a contract research organization focused on drug discovery and development services. The company supports R&D projects while striving to enhance efficiency and reduce costs.
Inotiv, Inc. (NASDAQ: NOTV) announces David Landman as the new Shareholder Representative on its Board of Directors, succeeding Scott Cragg. Cragg is stepping down to focus on his role as Partner at AS Birch Grove. Landman, a Senior Adviser at Perella Weinberg Partners, brings significant experience in financing and mergers. He will serve the remaining Class III term and chair the Compensation Committee. Inotiv, a contract research organization, aims to enhance its strategic growth following the acquisition of Envigo in November 2021. The management transition is positioned to leverage Landman’s expertise for future growth opportunities.
Inotiv (NOTV) announced its FY 2022 financial results, reporting a revenue surge to $547.7 million from $89.6 million in FY 2021. The growth was propelled by a $75.7 million increase in Discovery and Safety Assessment (DSA) revenue and $382.4 million from Research Models and Services (RMS). Despite this, the company recorded a consolidated net loss of $(337.3 million), influenced by a $236.0 million goodwill impairment charge. Looking ahead, Inotiv projects at least $580 million in revenue and $75 million in Adjusted EBITDA for FY 2023, amid challenges linked to non-human primate supply disruptions.
Inotiv, Inc. (NASDAQ: NOTV) will release its financial results for the fiscal 2022 fourth quarter and full year ended September 30, 2022, on January 10, 2023, after market close. A conference call will follow at 5:00 p.m. Eastern Time to discuss these results. Investors can join the call via domestic and international dial-ins. The results and subsequent call are crucial for stakeholders as they will provide insights into the Company's operational performance and market standing.
Inotiv, Inc. (NASDAQ: NOTV) announced a delay in releasing its financial results for FY 2022 due to ongoing U.S. legal issues with a principal supplier of non-human primates (NHPs). Total revenue is preliminarily expected to rise to approximately $547.7 million, significantly up from $89.6 million in FY 2021. The company's DSA backlog increased to $147.2 million. The company is cooperating with authorities while reassessing its financial processes and may need a waiver for financial covenants with lenders.
Inotiv, Inc. (NASDAQ: NOTV) announced significant expansions with the opening of its new lab facility in Rockville, MD, dedicated to bioanalysis and biomarker assays for biotherapeutics. Additionally, a pathology campus and training center in Kalamazoo, MI, is set to open in January 2023, enhancing nonclinical pathology services. The Boulder, CO facility has also expanded, increasing capacity by 30%. Inotiv's organic growth rate exceeded 30% through Q3 FY 2022, aiming to address service bottlenecks and enhance client support in drug development.
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