Inotiv, Inc. Earnings Recaps
Q1 2026
Feb 9, 2026
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.
Key takeaways
- 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.
Q4 2025
Dec 5, 2025
Inotiv reported a robust fourth quarter for fiscal 2025, driven primarily by a 15.7% increase in Discovery & Safety Assessment (DSA) revenue and a strong demand for its services, despite challenges from a cybersecurity incident.
Key takeaways
- Total revenue rose to $138.1 million in Q4 2025, up 5.9% year-over-year, with DSA being the key contributor.
- DSA awards surged by approximately 61%, marking the strongest quarterly performance in two years.
- The company initiated a site consolidation project, closing one RMS facility, which is expected to yield annual savings of $6-7 million.
- DSA backlog conversion rate improved to 37.4%, the highest in three years, indicating strong momentum.
- Inotiv is exploring debt refinancing alternatives with Perella Weinberg Partners to strengthen financial positioning.