10-Q · February 9, 2026
Inotiv reported Q1 revenue of $120.879M, up 0.8% year-over-year, but the company posted a consolidated net loss of $28.378M (23.5% of revenue) and reported EPS of -$0.83, missing consensus. Growth was driven by the DSA…
Earnings analysis · 10-Q
NOTV earnings analysis
Filed May 11, 2026 · Our reading of the company's report
The latest report
Inotiv, Inc. reported negative financial trends for Q2 2026, with a revenue decline to $117.7 million, down 5.4% year-over-year. The company faced significant operational losses with a net loss of $32.5 million for the…
Read full summary
Inotiv, Inc. reported negative financial trends for Q2 2026, with a revenue decline to $117.7 million, down 5.4% year-over-year. The company faced significant operational losses with a net loss of $32.5 million for the quarter, reflecting substantial challenges in both the Discovery and Safety Assessment (DSA) and Research Models and Services (RMS) segments, the latter showing a notable contraction. Liquidity concerns persist as the company struggles with compliance to financial covenants, and substantial doubt remains about its ability to continue as a going concern without strategic recovery actions.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.94
- Segment
- DSA Revenue: $47.1M, RMS Revenue: $70.6M
What stood out
-
Revenue Decline
Total revenue fell to $117.7 million, down 5.4% year-over-year from $124.3 million.
-
Significant Losses
Net loss reached $32.5 million or 27.6% of total revenue, compared to a $14.9 million loss in the prior year.
-
Segment Revenue Performance
DSA revenue increased by 3.9% to $47.1 million, while RMS revenue decreased by 10.7% to $70.6 million.
-
Negative Cash Flow
Operating cash flow was negative at -$6.5 million for the six months ended March 31, 2026.
-
Increased Debt Levels
Total debt increased slightly to $410.4 million from $402.1 million, showing the company’s reliance on borrowed funds.
-
Management's Restructuring Plan
Management continues to explore recapitalization and restructuring options to address liquidity concerns.
What to watch
-
Going Concern Doubts
Management noted substantial doubt about the company's ability to continue as a going concern, driven by compliance issues with financial covenants.
-
High Debt Load
Total debt stands at $410.4 million with upcoming maturities, raising concerns about repayment capacity.
-
Revenue Pressure from RMS Segment
RMS revenue dropped by $12.6 million (8.0%) year-over-year, indicating ongoing market challenges.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-K · December 5, 2025
Inotiv positions itself as a vertically integrated CRO with two reportable segments — Discovery and Safety Assessment (DSA) and Research Models and Services (RMS) — focused on accelerating preclinical and translational…
10-K · December 4, 2024
Inotiv positions itself as a full‑spectrum preclinical CRO after its strategic acquisition of Envigo (completed November 2021), operating two segments: Discovery and Safety Assessment (DSA) and Research Models and…
10-Q · February 7, 2024
Inotiv reported Q1 (three months ended December 31, 2023) revenue of $135.5 million, up from $122.8 million a year earlier, and narrowed its consolidated net loss to $15.8 million (11.7% of revenue) from $86.9 million…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.