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WEST LAFAYETTE - Inotiv, Inc. (NASDAQ:NOTV) reported better-than-expected fourth quarter results, with revenue growth across both business segments, though shares were trading flat following the announcement as investors focused on the company’s debt refinancing efforts.
The contract research organization posted fourth quarter revenue of $138.1 million, up 5.9% from $130.4 million in the same period last year and ahead of analyst estimates of $132.54 million. The company reported a loss of -$0.25 per share, narrower than the -$0.33 analysts had expected.
Inotiv’s operating loss decreased significantly to $6.8 million, a 48.5% improvement compared to the $13.2 million loss in the fourth quarter of fiscal 2024. The company’s Discovery and Safety Assessment (DSA) segment led growth with a 15.7% revenue increase to $51.6 million.
"We continued to execute on the financial goals we outlined during our investor day in May," said Robert Leasure Jr., President and CEO. "We were pleased that our revenue improved over the third quarter, and the year over year quarterly revenue increase of 5.9% was in line with our expectations."
The company’s total debt stood at $402.1 million as of September 30, 2025, compared to $393.3 million a year earlier. Notably, Inotiv recently engaged Perella Weinberg Partners to assist with exploring debt refinancing alternatives, signaling potential concerns about its capital structure.
For the full fiscal year 2025, Inotiv reported revenue of $513 million, a 4.5% increase from $490.7 million in fiscal 2024. The company’s adjusted EBITDA for the year improved to $34 million, representing 6.6% of total revenue, compared to $18.2 million or 3.7% of revenue in the prior year.
The company also disclosed a cybersecurity incident that occurred in August 2025, though it stated the investigation is complete and systems have been restored.
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