NOTV - Earnings call transcript Q1 2025

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Operator

Good day, everyone, and welcome to today's Inotiv First Quarter Fiscal 2025 Earnings Conference Call. [Operator Instructions]. Please note this call may be recorded, and I will be standing by.

If you should need any assistance. It is now my pleasure to turn the floor over to Mr. Steven Halper. Please go ahead, sir.

Mr. Steven Halper

Thank you, Jess, and good afternoon, everyone. today's with joining management for you quarterly Inotiv's call team. Thank

are could remind represent today's materially and those different are that begin, will some projected. risks call management's or financial including results I'd of operating we performance company's Any everyone about and to make statements forward-looking the actual statements like this management Before and that to achievements statements that expectations future statements, statements from date. as of on plans. Such considered uncertainties such subject cause to be the

You information to to in the that forward-looking statements financial of non-GAAP forward-looking result Form should the GAAP certain discuss any in of X-K and measures posted and company's reconciliations release, has www.inotivco.com could to are from section the further non-GAAP is for the statements. Management the uncertainties statements, does this most not and been obligation place the also additional undertake measures differ refer with Definition a Investors the to comparable which included website as new an available effort of undue Securities these earnings measures company's SEC including cause reliance company's filings provide information, on these not also for risks on revise to in will filed and whether guidance and future investors. the Exchange forward-looking to events, results matter, or update otherwise. Please company or Commission.

Inotiv's going yet, can obtained you do copy release so a by of the section haven't to you of press today's Investors If website.

questions. It with Beth Chief Chief Chief opening afternoon is question-and-answer remarks, the which will financial are us a ahead. please Strategy Financial your over now of go for will quarter Executive the Beth after Bob call Bob, Officer. company XXXX, of Officer; to turn Leasure, Bob us our we'll results begin then open the Sagartz, fiscal present pleasure for call. Bob this President call this from will portion join some the and first of company's to the Officer, John summary and CEO. Taylor, for and quarter fiscal Joining Leasure, my

Robert Leasure

today. Thank to you, our call Steve, good everyone joining afternoon and

forward of objectives, improving enhance During liquidity provided reduced our of first our net the company. I'll and with continuing $XX.X as liquidity, million. reducing which to results many client client minutes one few included moved our revenue spend the position, satisfaction offering our relationships, we quarter, continuing and company's focus efforts on integration proceeds equity highlights. To first a and volatility, quarter recent on

additional interest allow very will offering. and calendar to of and are reduce NHP pleased anticipate and which stability. To with risk much have deliver We the investor we should RMS outcome us expanded going inventory, liquidity for presold base provide XXXX client equity our reduce volatility, long-term make consistent forward, strategic NHP we decisions, to more this The our continue of revenue streams. help additional

continue from to in order to In momentum. maintain continue as we we our calendar in XXXX, in management facilities see also did increase XXXX quality to invest revenue expect in our addition, we services and an in NHP to this

has RMS as We our in-house client continue brought ago. quarter, about we a and improving progress American location. additional existing the transportation believe site systems, and We while as three leased well distribution our one included experience our optimization business, in for sites, to closing are we make an program North announced we integrating the is this expanding year which which to which efficiency. Last owned two of helped North improve America leased would continue

to XXXX, cost production, of pay expected $X expected improvement reduced cost to to use This million with sale dollars million from while of this approximately this expect production estimate we $X be initiative. million project. Once two on to capacity and be tenant improved proceeds service on for We to owned along consolidation intend the be year a is continue to completed, investment, which facilities, along is facilities approximately we a execute from expansion to with clients $X lower fiscal repair savings of we and for the at in end maintenance expenses unchanged. the

was the of compared of to quarter a mainly total million $XX.X the high-cost $XX.X million NHP QX revenue reduction a we This quarter first XXXX, primarily in XXXX QX million of these representing million pricing. The XXXX. and some In NHP year to XXXX. fiscal million margins fiscal and For QX decreased QX the $XXX.X margins lower fiscal again revenue, QX to pricing lingering of XXXX. DSA $XX.X during or $XXX.X fiscal year $XX.X negatively by in compared expect to decrease see fiscal fiscal revenue in was XXXX, fiscal first from of was XXXX, fiscal to million XX.X%. slightly of in decrease which 'XX driven due QX inventory impacted of improve

Safety This operating Discovery XXXX a Service added Services had was fiscal our was DSA the versus for We quarter saw services While awards awards, decline fiscal in offset last were by continued partially and margins saw cancellations. We the of trend strong our the for stable, Assessment to two Discovery growth quarter revenue. decrease in a awards DSA in in revenue years, Service remained a which of two QX increase of awards years. that strong due DSA saw we have XX% of the we was reported XXXX. new a QX mainly for first Discovery over in last new

XX% XX down trailing to months, period. are XX-month still the awards prior the compared Discovery For Service

to Discovery too that it marketing are we but some made sales this encouraging, important say a the year still and to a ago have early is an trend, beginning is and team believe we it's Services whether and truly team So, changes sales of approach to the impact. our

the segments. in we Now market seeing some comments today some our business on provide are thoughts and let me forward-looking what different on

focus year client calendar exceeding to XXXX, continue on Going will innovation optimization process into expectations. we the

remain We reduced XXXX. In as as NHP XXXX see EBITDA remainder growth in the to for each through fiscal RMS DSA for are quality believe volatility and goals base increasing and expect our fiscal and in share. services, our us for RMS year-over-year of the to us we broad the demand gain additional and market management The added emphasizing we and new purchase planned our preparing investments and about business, and as revenue segment, we uncertainties also on 'XX. In to benefit for XXXX. Overall, well orders, companies. XXXX they to we for presales, all XXXX in existing revenue going condition adjusted confident remain optimistic the with for team quarter will geopolitical revenue market our we growing XXXX, fiscal We into will current do as and and clients based calendar we've of cross-selling in new sales and products risks services portfolio clients XXXX attracting are client XXXX. XXXX made investments NHP continue our compared and are

the more turn However, forward will shareholders, we detailed that and to Beth, clients, for who provide Inotiv's a are and future. I'll committed will our our to building a look employees, call quarter. of synopsis over results the now for create to business our value

Beth Taylor

afternoon, and Bob, everyone. you, good Thank

in first a XX.X% sales XXXX. quarter prior $XX.X This $XXX.X XXXX, $XXX.X the in quarter of first year of from reduction was fiscal the total was million or revenue quarter. million For fiscal million the compared to

XXXX. decreased Bob XXXX reduction for result in by quarter reduced pricing fiscal U.S. a to first of $XX.X RMS of segment. of earlier, revenue most or As within compared said this the NHP million XX.X% fiscal was of our the QX RMS

the discussed U.S. in of We in due NHPs decrease of QX average and fiscal number sold the NHP-related of mainly service lower price lower for selling XXXX to a approximately result the the revenue, fiscal QX to in revenue As earlier, compared product was RMS NHPs as same a XXXX.

XXXX the in lower price approximately fiscal and in XX.X% selling of U.S. in QX was that fiscal average XXXX. than NHP of the X.X% XXXX QX in fiscal lower than QX of However,

year approximately here. DSA rate new the of quarter indicated of XXXX. The in DSA calls XX.X%, $XX.X and RMS Services in on QX negative DSA the period. The first quarter NHP fiscal versus QX again have that declined pricing believe The in fiscal to of the the cancellations highs $XX.X the in the to million from fiscal negatively XXXX DSA less and QX period remainder million should years. Cancellations first prior XX% fiscal XXXX. slightly of were primarily margins first this quarter-over-quarter in was half last compared XXXX, orders last $XX.X XXXX trailing in $XX.X up million of compared $XX.X we XX.X% and improve was for in conference net cost in saw lower the decrease first prior in was inventory the million higher had NHP revenue. Overall, were and of a quarter cancellations which revenue the during million XXXX quarter XXXX by sell the The fiscal year in fiscal X% from conversion prior the period. we previous revenue margins Discovery XX-month XXXX. period, fiscal QX orders higher X in impacted the prices and quarter calendar than We approximately change lowest were XXXX of driven fiscal of from decrease

of operating is $XX.X slightly shareholders per attributable previously share million lower transportation an of fiscal There as loss $XX.X were loss million operating in NHP in attributable resulted of of connection in costs the $X.X compared shareholders or consolidated quarter XXXX. loss in XXXX the a quarter in restructuring loss fiscal in the lower optimization closed with first common diluted decreases first to to offsetting DSA This for was share. due to in quarter of So million overall, costs, flat or XXXX XXXX, common fiscal our costs, first the margins net per to of and primarily first our the DSA quarter loss loss which $X.XX plan. fiscal to NHP of $X.XX totaled discussed. Partially, were net the sites relatively diluted $XX.X compared to operating sales, million decreases margins margins. Consolidated related

total of For adjusted X.X% million $X.X the XXXX, of million fiscal or of year's the or of quarter or total DSA in $X.X for revenue of was quarter X.X% revenue to operating revenue XXXX. Non-GAAP $X.X first EBITDA total to compared $X.X in compared first the for last of revenue first total quarter million X.X% first the or segment fiscal was quarter. X.X% income our million

through recently fiscal continue improvement to fill book-to-bill added DSA in capacity, the of net we will see was quarter believe XXXX As we X.XXx:X. margin operating leverage. first The we for ratio

the fiscal compared XXXX million December or at million of income total September at revenue $XX.X in XXXX non-GAAP draws million fiscal XX, Our first fiscal and backlog XXXX. In to increase million QX notes $XX.X XXXX, of in total the X.XXx:X. DSA to trailing quarter RMS fiscal XX-month an on rates, at and expense the in operating compared was or million September was $XXX.X with $XXX.X the to December interest issued our of our lien revolving from due quarter XXXX. Interest XXXX, XXXX was interest associated in segment, million million of book-to-bill $XXX.X of first $X.X credit $XX.X first XX, to revenue in in X.X% XX, second periodic quarter of increased XXXX, XX.X% facility.

to Our December XX, XX, million as and compared XXXX. September included as million $XX of on $XX.X cash balance sheet in XXXX, equivalents cash

fiscal million to million notes the our on the was $XXX $XXX.X December cash issuance convertible of of XX, XX, the $X.X compared costs XXXX. the X.X% expenditures used XXXX, XXXX. Capital in amendment equity of million approximately XXXX, operations our or $X.X into $X.X This includes October offering. Total $XX.X December XXXX balance in XX, X.X% extended entered cash of notes as XX, lien December months revenue. In XX, quarter-end were the of and in quarter first quarter OBRC payable expenditures second total of of the includes XXXX were for debt of XXXX. In or debt the September and in proceeds $XXX.X months third to million. Net fiscal of from X million capital seller first XXXX, as of X revenue. compared of January net $X.X million with was ended used recent Our cash XX, to we ended XXXX, operations million million December net of a

fiscal of to QX we CapEx our XXXX. With withdrew We less for in results. after X% than respect financial expect guidance we XXXX you fiscal as to spend know, guidance, XXXX reported revenue

the about good not recent XXXX feel to continue in we we made While at we fiscal guidance are have providing this progress quarters, time.

and a demand. on previously, and our client operating comprehensive to Needless under have earlier. The over in and has fiscal forecasts stated our updated XXXX. the overview, plan the capital September have will provide compliance our we base we operating to we latest expense As plan improve with the to of results with say, into once allocation management financial to hope XXXX amendment guidance questions. to that operator designed agreement turn discussed our entered developed as credit to covenants greater we the for market clarity optimize continue And annual call

Operator

with Frank [Operator Lake Street Markets. Instructions] We'll go to Takkinen first Capital

Frank Takkinen

to I we higher-cost of NHPs. the update do through remainder And just ordering the some bit little from of of Or we maybe One, was that any from to the the ask quarter? around I work some more [Indiscernible]. in NHPs first parts two, have throughout patterns still year? customers through then worked with an start was it. X a of hoping hoping to of kind have update to

Robert Leasure

the 'XX, Well, calendar NHPs going point. this higher-cost all into at through worked have we

that So I passed. think has that headwind

said as you want into ordering didn't real last wanted February, were into market. year Last We changed people that we still And selling we far wasn't on at volatile. any I approach February. our without point, would to fairly this the sure It's the do that we patterns, open lock As commitments, most year. significantly went we commitments.

is, work we or have this and as what prices them this this into last expectations with year. X we or move board more year, us. deliver what with know now also can are. quarters, and Going stable more We stayed them two, the year may sell bit we do a normalized into X can do people's going for they a We commitments do solid little may customers. But our they we'll so week over

than be a So to that less we lot gives volatile us ability the have.

less. quarters, part, we'll think things at of month things as much into stability as place, couple position our prior for consistent. We quarters. But I the much flow more we're and may take most in I we're to slip large next, our think And a the through going better a slip some year. we be weeks between and have shift shipments So a years, can can to this little I our in volatility, cash going the from still be which or look see

will as into think going it this QX, into QX, get and I be significant QX we year.

Frank Takkinen

know of challenging one to And I about exactly site's then with it's development. contemplation how bit predict a But I ask little the hoping going go. I was could to it's the there's no longer supply exported NHPs be could that being your but dynamic? I to able pushed worldwide, how the Cambodia impact following to base. around skepticism that clearly, realize it was some year,

just talk supply-demand global NHP the theoretically maybe how could through impact that So dynamic.

Robert Leasure

and year. I is Cambodia, Well, think, of an still the global supply in exporting they're of obviously, part a base, X,XXX the out of important range Cambodia

week. the [indiscernible] more the So if puts of available global this out is supply you what that supply meeting that have from lot take of a base, other the Se did on pressure bases. They existing

pushed X for on now, diversify or to side to revisit control say do, contracts to were probably to able right X I in decision lot And would the that. prepared buy countries [indiscernible] it's we I qualify We but a suppliers. either they the off. be for the very diversify to important, have think we work with again we're of we worked the need hard the We've November it. 'XX. last of can't in adapt. we choose whatever that and prepared very additional But years to and understand people side. And people I this starting going year event. sell They're

But continues more with And have I'm adjusted, We customers agile. think how the have, we it's comply reduce evolve decide and we will adjust And business proud with And in to very team they continue that, of farms they Cambodia. they looking relationships become whatever our evolve, it. keep risk. maintaining I with ways to we'll much are to for accordingly. with the

Frank Takkinen

compliance the one EBITDA we're help fiscal flow that comment for for how last ended quarter second out adjusted now bit But a some cadence a little just you we gross through throughout I lift, cost that covenants. year. then hoping the expect staying the the was EBITDA I March? and NHPs the in maybe should And to with margin the of adjusted higher expecting around with into me. heard us could

Robert Leasure

I you to alluded year-over-year, so your in and have it's and have my what that in will expect think some we sales as the Well, I grow over comments. hit of for And reports, we'll year, analyst we but guidance, see us giving for think clear to I'm covenants, that I grow sales. not to identified probably those

and grow X. finished you So, that think have pretty well lower and that seeing pretty QX, will year-over-year that good we sales have X, we we just seen can that quarter a having sales, see

our I believe, coming XX.X%, would going supposed months I X with in Beth? trailing also of X covenant it's And it's March, ahead December. this thought closer a our positive, original we're believe that X to think out has million. covenant of see we're said, X.X. And you Beth, covenants, are I and we obviously we're where I quarters into that pleased trailing at we think X in to $X.X at trailing quarter we have our was I be, That's months, XX-month the now believe I so the think results. EBITDA

Beth Taylor

Yes.

Robert Leasure

future shape. And from. so as we're compared quarters, And fairly in we're come where have we to look bullish pretty to good we

We done. us think, with front what great have of we I in have some, opportunities

worked good And that's last for something years. have X on the We facilities rightsized all we've in our of economics. hard pretty

some a have brick-and-mortar the those we rightsizing. don't at in services And a some up started integration those margin business, worry going and expanded the improvement of of other about want we done we're worry North to going consolidation We've DSA in we and new much don't about in to see lot America sites. We sites. sites grow, some So than couple site much the as significant as sites.

excited the to will back in those And to, our see and service start-ups, I'm year. the alluded services I some DTI we we'll of this half of in as good growth, just So, grow. enhance, see which think I saw Discovery our

we'll year think in EBITDA the margins. of sales So I increase improvement for margin some we'll improvement sure, adjusted see the and half back the see on improving in some

Operator

Group. to next move Capital [Operator instructions] We'll Craig-Hallum with Hewitt Matt

Matthew Hewitt

of Maybe how into to sales. Bob, some follow any to particularly QX? NHP up of QX sales of quarter? out slip on you have kind quarters earlier, tends the be with there lumpiness, this one things noted said the you of at Did end of that Did of any those you

Robert Leasure

probably months. million or million okay it some very of overall, that flip flip it X But $X with year, $X X We X for easily. we We're We could have that. like Yes, quarter. anything if we're weeks X We flips that. could have X don't And X again, Last or or or did. next swing could sales not. weeks, even. weeks

really into and not of going what this than even lot going we sales was year. this I have we back worried in, reducing see deposits year different that. some inventory. people think, then I'm And about market, which those orders. Last They had some inventory. a So up Last year, were year,

and We year, year one So I brick-and-mortar, And we of we've doing last we're we people. volatility. This set see differences enough. of rest is taken customer year, of enough hopefully, a big job. integration, optimization, think being our good and doing, satisfaction to less works a well. The we on up well This now. what we had This small had agile I business and care year, the right economics had What good we again, had think have We're is we'll that. lot volatility. the we're customer. very we focus very are The of take customer-driven. need

things a as and low One the challenging in on. I with had of see turnover. issues I'm of some now, things have go as the probably I'm that, going made we ever And our for the talked for DOJ optimistic. I pleased some we our we returning. of year, between as nervous And some industry been. see customers And right that the our about, very and through turnover challenges voice. that customers lower the last business. And it's that really, year those others really some was

better customers. do team opportunity It stayed a for Our to has our great us management together. gives job a much

XX%, that. So, that business but that. back, expecting keep satisfied. And, them up continue we take focus, our into right now, XX% make we're great. going going all that we expecting have we of that. nor right that the customer No, biotech the XX%, itself. grow going care that's bring despite continue are don't still keep to If sure see not to have employees to think think that, now don't we tailwinds a I happens, funding We're that's we But we're to I will

Matthew Hewitt

like book-to-bill particular couple bit. were kind up some It And of elevated with some of cancellations kind the to a couple that on decisions? a companies to number back Is reason of in normalized reprioritizing the that what's in you pharma here you of those of kind just QX? of mention seemed The a of declining, little one then bounced The fill-and-kill on been Or bouncing around gears were cancellations. It that and kind the a acting improvement shifting getting that there pipelines seeing that a back is here quarters, little last and bit. that a seems little saw like I other metrics the was wanted bit. other going function level. quicker

Robert Leasure

elevated large got $X because we to had saw over project, that that's million and canceled, $X and million, was us. that's one which significant We about

significant. large one cancels, have If we project So, POs. it's

difference. usually, canceled a this down it make book-to-bill quarter. We been those have have We can we don't large number project or drove project canceled which that did would anomaly. that And positive. an have had got large projects one so And a

hopefully, once like I was that. But about so in that And we'll a think again, a that those there we don't worried typically. have of see because I'm lot every out overly it not while one

months we pleased. organization go. approach what me you awards on for that is that's even looking We ago X really we to take away growing structure. that the and XX% where And Assessment. And green bit made were is can that sciences, year of changes of in translational Safety see sales to think little lot a discovery, a our a I how that XX% we seen high years. QX in business. expect year-over-year in a a that's decline for several But It's pretty We're for something pretty Discovery, good we've a important very cost shoot. for

We of leverage. have lot a

With go the in a lot a goes that increase bottom sales, to the percentage those large of can to line.

in with up. cancellation a number probably was was was think think project really the because I East So I the from although positive I large that that one-off, more quarter drove cancellation takeaways that discouraging, negative have one I

Matthew Hewitt

you But one and been do some newer of about course and out here the have I'll of Or tests selling of year? existing hop your the the envision some back of for your out recently, of with at me, the as that you rolling services success remainder last services queue. over more given One more then portfolio? rolled look in additional this it year just this or is some

Robert Leasure

and and consider are job, a exceeding we meeting delighting and improving we our Matt, want we communication. If feel customer-driven. our and or very our better customers are Right additional can will looking really we be and we're for now, focus do expectations service not. I to be those we'll to customers outsourcing that. on continue that

be of good but lot we sophisticated. services. looking have more think a Yes, I of we're to to a at, I sites add-ons and be that we significant. They small going a allow they're not think us couple grow little some have

people. is significant. do we're trained What training and or and making so it. improving people And buying we're really new sure things are doing not hiring to they're we're equipment our these are

So, new expanding really to upon brick-and-mortar, we have in do It's training technology. new what place. they're on not and

Operator

go David Windley next Jefferies. with to [Operator Instructions] We will

David Windley

a triggers the essentially this I in rec wanted rev to Are first on quarter presell inventory? that is transaction you presales inventory. commitments? recognition the understand cadence of when Or revenue accounting these

Robert Leasure

don't recognize ownership. there's we a any of No, transition revenue until

orders So we are in. don't when of recognize and completed. come is only transaction they the sold revenue after It's they

recognized. So no, has been there's of none that

David Windley

you say those last you're sales. did the preselling So when but have inventory, year, materialized in than in fiscal hand you entering more have you orders

Robert Leasure

That is correct.

have orders, have probably deposits, suppliers. with not have revenue but and We signed orders, deposits recognition. Correspondingly, may we more also out our we

advance, and in we advance. further bought have further have in sold we So

David Windley

case I And that so understand of would the the those guess title if and way you're then client colony bought animal maybe changed Is you're mean, I has them services, that boarding invoking the in the has hands. in management the and correctly, the that, I saying right? cases,

Robert Leasure

we the If Yes. And are boarding passed or we'd boarding. specifically. be title has

David Windley

might And Can colony of much sense much represent? services give RMS then of first a of me your that guess, you revenue or RMS Like how revenue all, colony -- management right? are I proportion? of management services how in RMS. Is

Robert Leasure

before, grow couple $XX services million. for XX% gave probably think to year the the have don't publicly. Last may ago closer I range do we see we I but management RMS in forward. million we'll think think of another was of it I calling $XX was million. go Our $XX And that can business, numbers I a as And years been these

but think all I they it's their volatility. in would but So they to that customers about storm sure large sure make risk buy some once to of place have their reduce the like they and and and may by access and risk not pharma looking a they have make reduce

our setting sure business be to risk to able need comply up to them reduce we that so we're And to also. their help make

David Windley

I but do in Do colony you management, room dedicated a have presume you have plenty have grow plenty like be to of but do [indiscernible]? that you Texas, kind without -- business I space? don't Alas, to know even if of for the have to have this moved, is of animals

Robert Leasure

very a good That's question.

We've there. for the in you couple things the last water, built have down infrastructure and that and the transportation years of acres need up XXX veterinary commissary, bit in support, a quite to the that about and have We support hospitals, invested colonies. things roads sewer,

places air whatnot. brick-and-mortar improving do out facilities and boarding building we to Now indoor water and are with flow and heating outdoor

been capacity at have last couple pretty the of full We for years. much

we've increase as so, And been able we've to expand, able that been revenue base. to

where are year. our that's dollars going so this some expansion of And

We have XXX acres. And XXX. of those probably XXX acres, using we're about

David Windley

think glide NHP it high-cost the quarters Or through now couple level? function inventory, be of you're over should the that step kind your sourcing is of lower next to more a cost we of down? to move On comments, a of a path the

Robert Leasure

of next pricing step set down for I most year. the see I is think because think and NSPs the function out a you'll higher-cost are

that a So step. we'll I of think think we'll increasing And more quarter. sales each see I see

I I could So that quarter, but think margins the each improve. see sales may improvement, the think

David Windley

And sound were one to kind of of love business a Like have remember like are I what me on of your meaningfully does of for those mean, does bookings on And sequentially. the this engage And services. services have color correctly, I'd I clients coming they NHP-related not DSA if us that? then talk are think type more what on? from? lot I to wanting then you one -- DSA you gross cancellation. Can large mix the you last better about it the

profile on mostly of it's picture improving studies, any additional So, I looks what me bookings rodent that kind of would but color that think you love like. I'd tell the

Robert Leasure

customers and DSA right, XX% biotechs. our backlog All XX%, over are

So mix that's what it biotech, for the look is biotechs. large and pharma you between

of we is part pharma. in may unique services most the that's We biotech But for we see for some discovery are have, and work, it toxicology some genetic a large work getting our of the from some focused. increase

some right some again, and are unique. the good quarter. As services the saw now. last pretty built up, Those far that as services, genetic awards and biotherapeutics toxicology, ETS we of We

and those have scientific team been a very We good there, helpful. have

think assessment, quickly work and in seeing we science the The that assessment. there's probably to probably the again, there's But move customers blanket hand-in-hand people that with meaningful more like fairly the fairly general they're in come want far than happen. identify things and as so the market have discovery the still book we lead to confidence. them increasing the also us some blanket in people is with gain to we quickly now orders far bit them of don't in as past. past, more still general very stage, work safety They've advance. We're an and in their and as but orders used because starting in need the giving I That's us safety outlined with move a to can down I amount we purchase little and more capacity to that's encouraging. partner in flat purchase

and we translational see again, of the flat working that I Safety specialty that I we science, And for probably not still, growth. lead for as So more we're would on been Assessment, and services seeing that I nice us but think with it's to science can have that's Commodity growth. be other sciences the as, good, it's think said, discovering some still if probably

Operator

no any questions have It Leasure over I appears closing remarks. for the or time. we at turn further this will back program additional to Bob now Mr.

Robert Leasure

quarter. and pleased of results Well, thank this you, We're the past for everyone, call. joining today's events with very

we our We'll with employees that a returns positive and and generate in as needs, XXXX. get and indicated, improving for grow and revenue strong volatility, a environment Thank details, building your flow provider our shareholders. going I've every continue made As today. capabilities is attention think, cash reducing for career Inotiv to pay time forward. We'll high-touch on and flexible I scientific better a clients' our focused liquidity, you the positive continue for towards day progress to to have our

Operator

participation. does We Thank and your gentlemen, program. you. for today's Ladies you conclude this thank

at disconnect may time. You any

Inotiv (NOTV) 5 Feb 252025 Q1 Earnings call transcript