Core Viewpoint - Inotiv, Inc. will release its financial results for the fiscal 2025 second quarter on May 7, 2025, and will host a conference call to discuss these results [1]. Company Overview - Inotiv, Inc. is a leading contract research organization that specializes in nonclinical and analytical drug discovery and development services, as well as research models and related products [3]. - The company's focus is on enhancing efficiency, improving data quality, and reducing costs associated with bringing new drugs and medical devices to market [3]. - Inotiv is dedicated to supporting research and development objectives and aims to help researchers maximize the potential of their R&D projects [3].

Financial Performance - Total revenue for the three months ended December 31, 2024, was $119.876 million, a decrease of 11.5% compared to $135.501 million in the same period of 2023[13]. - Service revenue was $53.557 million, while product revenue was $66.319 million, reflecting a decline in product revenue of 18.7% from $81.638 million year-over-year[13]. - Consolidated net loss for the quarter was $27.630 million, compared to a net loss of $15.828 million in the prior year, indicating an increase in losses of 74.8%[16]. - Basic and diluted loss per common share was $1.02 for the three months ended December 31, 2024, compared to $0.60 in the same period of 2023[13]. - The company reported a comprehensive loss of $29.943 million for the three months ended December 31, 2024, compared to a comprehensive loss of $14.141 million in the same period of 2023[16]. - The Company reported a loss before income taxes of $29.808 million for the three months ended December 31, 2024, compared to a loss of $19.322 million in the same period of 2023[54]. - The consolidated net loss for the three months ended December 31, 2024, was $27,630 thousand, compared to a loss of $15,828 thousand for the same period in 2023, representing a 74% increase in losses[22]. Assets and Liabilities - Total current assets increased to $171.417 million as of December 31, 2024, up from $163.413 million at September 30, 2024[11]. - Total liabilities decreased to $603.075 million as of December 31, 2024, down from $610.857 million at September 30, 2024[11]. - As of December 31, 2024, total long-term debt was $392.978 million, slightly up from $389.801 million as of September 30, 2024[58]. - The Company has approximately $61.255 million in trade receivables and $15.306 million in unbilled revenue as of December 31, 2024[53]. - Contract liabilities, including client deposits and deferred revenue, totaled $46.129 million as of December 31, 2024, compared to $41.986 million as of September 30, 2024[53]. Cash Flow and Financing - Cash and cash equivalents rose significantly to $38.043 million from $21.432 million in the previous quarter, marking an increase of 77.4%[11]. - Net cash used in operating activities was $4,497 for the three months ended December 31, 2024, an improvement from $6,545 in the prior year[22]. - The company had access to a $15,000 revolving credit facility, which had no balance outstanding as of December 31, 2024[31]. - The company is currently evaluating financing alternatives to meet cash requirements for the next 12 months[36]. Shareholder Equity and Stock Activity - Shareholders' equity slightly decreased to $169.832 million from $170.504 million in the prior quarter[11]. - The company issued 6.9 million common shares during the quarter, increasing the total number of shares outstanding to 33.718 million[19]. - The company completed a public offering of 6,000,000 common shares at a price of $4.25 per share, with net proceeds amounting to $27,524,000 after deducting underwriting discounts and commissions[136]. - The weighted-average shares outstanding for basic and diluted loss per share were 27,160,000 for the three months ended December 31, 2024, compared to 25,764,000 for the same period in 2023, indicating an increase of 5.4%[142]. Operational Challenges and Future Outlook - The company plans to optimize capital allocation and increase revenue from non-human primate-related products and services[36]. - Substantial doubt exists about the company's ability to continue as a going concern due to ongoing financial challenges[38]. - The company had negative operating cash flows and net losses for the three months ended December 31, 2024, raising concerns about compliance with financial covenants[31]. - Management's operating plan forecasts compliance with financial covenants under the Credit Agreement for the next twelve months[38]. Legal and Regulatory Matters - The company is subject to a probation period of up to five years following the plea agreements related to violations of the Animal Welfare Act and the Clean Water Act[157]. - The company has agreed to make payments totaling $22 million in fines, with structured payments over several years, starting with $5 million due on June 3 for the next three years[158]. - The Company anticipates filing a motion for preliminary approval of a settlement related to a class action lawsuit in the second quarter of calendar year 2025, with a proposed settlement amount of $795,000[148]. - The Company is currently involved in multiple legal actions, including a securities class action lawsuit, but believes these actions to be without merit and plans to vigorously defend itself[149].

Financial Data and Key Metrics Changes - For the first quarter of fiscal 2025, total revenue was $119.9 million, a decrease of $15.6 million or 11.5% compared to $135.5 million in the first quarter of fiscal 2024 [12][19] - The operating loss for the first quarter of fiscal 2025 was $15.5 million, compared to an operating loss of $9.4 million in the first quarter of fiscal 2024 [23] - Consolidated net loss attributable to common shareholders was $27.6 million or a $1.02 loss per diluted share, compared to a net loss of $15.4 million or $0.6 loss per diluted share in the first quarter of fiscal 2024 [24] Business Line Data and Key Metrics Changes - RMS revenue decreased by $13.7 million or 15.1% compared to Q1 of fiscal 2024, primarily due to lower NHP-related product and service revenue [20] - DSA revenue decreased slightly from $44.7 million in Q1 of fiscal 2024 to $42.8 million in Q1 of fiscal 2025, driven mainly by a decline in Discovery Services revenue [13][21] - The DSA backlog was $130.4 million at December 31, 2024, compared to $152.3 million at December 31, 2023 [26] Market Data and Key Metrics Changes - The average selling price for NHPs in the U.S. in Q1 of fiscal 2025 was approximately 30.3% lower than in Q1 of fiscal 2024 [20] - The net book to bill ratio for DSA in the first quarter of fiscal 2025 was 1.01 times, with a trailing 12-month book to bill of 0.87 times [25] Company Strategy and Development Direction - The company aims to enhance liquidity and reduce revenue volatility through expanded NHP client base and pre-sold inventory [9] - Continued focus on process optimization and client satisfaction is emphasized, with expectations for year-over-year revenue and adjusted EBITDA growth for the remainder of fiscal 2025 [16][17] - The company is preparing for 2026 and 2027 while acknowledging ongoing geopolitical and market risks [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about reducing NHP revenue volatility and improving margins in the upcoming quarters [12][21] - The company is committed to building a business that creates value for clients, employees, and shareholders, despite uncertainties in the market [18] - Management noted that they have worked through higher-cost NHPs and expect more stable pricing moving forward [34] Other Important Information - The company raised $27.5 million from a recent equity offering to enhance liquidity [8] - Interest expense increased to $13.8 million in Q1 of fiscal 2025 from $11.4 million in the same period of fiscal 2024 due to rising interest rates [26] Q&A Session Summary Question: Update on NHPs and ordering patterns - Management confirmed that they have worked through higher-cost NHPs and have more solid commitments for the year, leading to reduced volatility [34][36] Question: Impact of Cambodia NHP export restrictions - Management acknowledged the importance of Cambodia in the global supply base and stated they are prepared for various outcomes while diversifying suppliers [40][42] Question: Adjusted EBITDA expectations for Q2 - Management expects sales to grow year-over-year, which should positively impact adjusted EBITDA in the second quarter [45][52] Question: Cancellations and their impact - A significant cancellation of a large project was noted as a reason for elevated cancellation rates, but management remains optimistic about overall trends [65][67] Question: Revenue recognition on presales of inventory - Revenue is only recognized upon the transition of ownership, not at the time of presale [76][78] Question: Proportion of Colony Management Services in RMS revenue - Colony Management Services revenue was approximately $27 million last year, with expectations for 20% growth moving forward [84] Question: NHP sourcing and pricing expectations - Management anticipates a step function down in pricing as higher-cost NHPs are cleared from inventory [94] Question: DSA bookings and client engagement - The DSA business is primarily focused on biotech clients, with an increase in unique services and blanket purchase orders noted [97][101]

Exhibit 99.1 Inotiv Reports First Quarter Financial Results for Fiscal 2025 and Provides Business Update – Enhanced liquidity by $27.5 million through the issuance of 6.9 million common shares WEST LAFAYETTE, IN, February 5, 2025 – Inotiv, Inc. (Nasdaq: NOTV) (the "Company"), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced financial results for the three months ( ...

Enhanced liquidity by $27.5 million through the issuance of 6.9 million common sharesFirst quarter fiscal 2025 revenue declined 11.5% to $119.9 millionConference call scheduled for today at 4:30 pm ET WEST LAFAYETTE, Ind., Feb. 05, 2025 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV) (the “Company”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced financial resul ...

WEST LAFAYETTE, Ind., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Inotiv, Inc. (NASDAQ: NOTV) (the “Company”, or “Inotiv”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced that it will issue its financial results for the fiscal 2025 first quarter ended December 31, 2024, on Wednesday, February 5, 2025, after the close of the stock market. The Company will host a conference ...

WEST LAFAYETTE, Ind., Dec. 30, 2024 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV) (the “Company”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced that it had raised an additional $3.6 million in net proceeds from the optional shares in connection with its previously announced underwritten public offering of common shares. The Company issued the additional 900, ...

WEST LAFAYETTE, Ind., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV) (the “Company”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced that it had raised approximately $24.0 million in net proceeds from its underwritten public offering of 6,000,000 common shares at a price to the public of $4.25 per share. All the shares were offered and sold by the ...

WEST LAFAYETTE, Ind., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Inotiv, Inc. (NASDAQ:NOTV) (the "Company"), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced the pricing of its underwritten public offering of 6,000,000 common shares at a price to the public of $4.25 per share. In addition, the Company has granted the underwriter a 30-day option to purchase up to an additio ...

WEST LAFAYETTE, Ind., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV) (the “Company”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced commencement of a proposed underwritten public offering of its common shares. All the shares will be offered by the Company. The Company also expects to grant the underwriters a 30-day option to purchase additional c ...