Inotiv's first quarter 2026 demonstrated strong year-over-year growth in its Discovery and Safety Assessment (DSA) business, with a 12% revenue increase, although overall revenue was slightly up by 0.8%, hindered by challenges in the Research Model Services (RMS) segment.

• DSA revenues rose to $48 million, a 12% increase year-over-year, driven by greater demand for discovery pharmacology and surgical services.
• Net new DSA awards surged 27% to $53.6 million, highlighting robust booking momentum.
• RMS revenue declined 5.4% due to lower sales in Non-Human Primates (NHPs), exacerbated by decreased volumes shipped.
• The company is actively optimizing its operations, exiting two leased facilities to improve margins by Q3 2026.
• A financial covenant waiver was secured, reflecting ongoing efforts to enhance the balance sheet and refinance debt.