CORRECTING and REPLACING - Inotiv Reports Third Quarter Financial Results for Fiscal 2025 and Provides Business Update

Core Viewpoint - Inotiv, Inc. reported a significant increase in revenue for the third quarter of fiscal 2025, driven by growth in its Research Models and Services segment, while also showing improvements in operating loss and adjusted EBITDA compared to the previous year [1][9][11]. Financial Performance - Q3 FY 2025 revenue increased by 23.5% to $130.7 million compared to $105.8 million in Q3 FY 2024, with Research Models and Services (RMS) revenue rising by 34.1% and Discovery and Safety Assessment (DSA) revenue increasing by 8.9% [2][6][9]. - Year-to-date revenue for FY 2025 reached $374.9 million, a 4.0% increase from $360.3 million in FY 2024, primarily due to a $13.8 million increase in RMS revenue [12][11]. - The consolidated net loss for Q3 FY 2025 was $17.6 million, or 13.5% of total revenue, compared to a net loss of $26.1 million, or 24.7% of total revenue, in Q3 FY 2024 [11][9]. - Adjusted EBITDA for Q3 FY 2025 was $11.6 million, or 8.9% of total revenue, compared to $0.1 million, or 0.1% of total revenue, in Q3 FY 2024 [11][9]. Segment Performance - DSA revenue for Q3 FY 2025 was $48.2 million, up from $44.2 million in Q3 FY 2024, while RMS revenue was $82.5 million, compared to $61.6 million in the same period last year [2][6]. - The DSA net awards increased by 25% year-over-year in Q3 FY 2025, following a 27% increase in the previous quarter, indicating strong growth in quoting and awards [4][3]. Operational Insights - The company experienced a significant improvement in operating loss, reducing it from $20.8 million in Q3 FY 2024 to $5.7 million in Q3 FY 2025, largely due to increased revenue and decreased operating expenses [10][11]. - The book-to-bill ratio for DSA services was 1.07x for Q3 FY 2025, indicating a healthy demand for services [11]. Recent Developments - The SEC concluded its investigation related to non-human primate importations without recommending enforcement action against the company [11]. - The company recorded a $10.0 million accrual for ongoing securities class action lawsuits, expecting to recover the full amount under existing insurance policies [11].