NASDAQ$NOTV
Inotiv Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Inotiv reported mixed results for Q1 2023, with revenue growth offset by a significant goodwill impairment charge and increased operating expenses.
Inotiv's Q1 2023 saw revenue growth driven by DSA and RMS segments, but a net loss of $86.9 million due to a goodwill impairment charge and increased expenses. The company is addressing challenges and aims for improved efficiency and margin expansion.
- Total revenue increased due to growth in DSA and RMS segments.
- Consolidated net loss was $(86.9) million, impacted by a $66.4 million non-cash goodwill impairment charge.
- The company is addressing unexpected challenges and working to improve the business.
- Reiterated FY 2023 revenue guidance of at least $580 million and Adjusted EBITDA of at least $75 million.
Headline financials
Revenue & EPS history
Inotiv · Revenue · Quarterly
$123M
Revenue by segment
Inotiv · $149M total across 2 segments · Q1 2023
- RMS$103M+100.6%69.4%
- DSA$45.5M+38.7%30.6%
Forward guidance
Inotiv is confirming guidance of at least $580 million of revenue and at least $75 million of Adjusted EBITDA with adjusted EBITDA margins of approximately 17% for the nine-month period ended September 30, 2023, as well as capital expenditures of no more than 5% of revenue during FY 2023.
Tailwinds
- Existing DSA backlog
- Current sales pipeline
- Trends in pricing
- Impact of new products and services
- Recent efficiency initiatives including the announced facility consolidation plans in the U.S.
Headwinds
- NHP supply disruption
- Uncertainty related to the Company’s ability to import NHPs from Cambodia
- The Company is not currently shipping Cambodian NHPs at the same volumes that it was prior to the events on November 16, 2022.
- The Company expects to establish new procedures before it will resume Cambodian NHP imports.
- The Company expects that future imports of NHPs from Cambodia will be dependent on working with third parties to establish additional procedures aiming at providing additional assurances that future NHP imports from Cambodia are purpose-bred.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+0.4%
Avg return
Earnings day
+3.5%
Avg return
5 days after
+5.6%
Avg return
30 days after
39%
25 / 64 earnings
Positive
+51.3%
Q4 2022
Best reaction
-35.7%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -3.6% | -0.2% | -72.5% | |
| Q1 2026 | -14.3% | -33.3% | -7.1% | |
| Q4 2025 | -6.3% | -9.6% | -42.6% | |
| Q2 2025 | +11.2% | +4.5% | +33.8% | |
| Q1 2025 | -12.9% | -8.9% | -41.8% | |
| Q4 2024 | +0.8% | -2.6% | +7.4% | |
| Q3 2024 | +5.0% | -5.0% | -15.7% | |
| Q2 2024 | +0.9% | -13.2% | -17.0% | |
| Q1 2024 | +15.0% | +45.5% | +126.5% | |
| Q4 2023 | -24.6% | -7.1% | +17.2% | |
| Q3 2023 | -35.7% | -40.7% | -49.0% | |
| Q2 2023 | -7.0% | +0.2% | -13.1% | |
| Q1 2023 | +4.5% | +4.4% | -30.1% | |
| Q4 2022 | +51.3% | +67.4% | +47.4% | |
| Q3 2022 | +24.9% | +33.9% | +16.1% | |
| Q2 2022 | +42.5% | +60.3% | +21.1% | |
| Q1 2022 | -18.7% | -28.8% | -47.9% | |
| Q4 2021 | -13.0% | +9.7% | -19.8% | |
| Q3 2021 | +6.5% | +3.2% | +13.1% | |
| Q2 2021 | +4.2% | +9.3% | +9.6% | |
| Q1 2021 | +25.2% | +34.7% | +48.4% | |
| Q4 2020 | +20.9% | +13.6% | +74.3% | |
| Q3 2020 | -12.8% | -15.7% | -10.6% | |
| Q2 2020 | +6.2% | +13.2% | +25.4% | |
| Q1 2020 | -12.3% | -13.1% | -20.4% | |
| Q4 2019 | +13.7% | +10.8% | +34.5% | |
| Q3 2019 | -4.8% | +16.2% | +73.8% | |
| Q2 2019 | -2.9% | -4.8% | -4.3% | |
| Q1 2019 | -4.9% | -2.1% | +31.9% | |
| Q4 2018 | -2.3% | -2.3% | +6.8% | |
| Q3 2018 | +0.0% | +6.7% | +7.3% | |
| Q2 2018 | +0.6% | -2.3% | -5.2% | |
| Q1 2018 | -19.6% | -16.4% | -15.3% | |
| Q4 2017 | -3.9% | -5.7% | -22.1% | |
| Q3 2017 | -4.0% | -2.8% | -9.7% | |
| Q2 2017 | +6.3% | +3.2% | +5.7% | |
| Q1 2017 | +23.1% | +20.9% | +64.8% | |
| Q4 2016 | +10.0% | -1.2% | +17.5% | |
| Q3 2016 | -13.6% | -4.3% | -18.6% | |
| Q2 2016 | -6.9% | — | — | |
| Q1 2016 | -14.3% | — | — | |
| Q4 2015 | -3.1% | — | — | |
| Q3 2015 | -8.6% | — | — | |
| Q2 2015 | -1.9% | — | — | |
| Q1 2015 | -5.5% | — | — | |
| Q4 2014 | -7.5% | — | — | |
| Q3 2014 | +15.2% | — | — | |
| Q2 2014 | -2.3% | — | — | |
| Q1 2014 | -9.8% | — | — | |
| Q4 2013 | +9.6% | — | — | |
| Q3 2013 | +25.9% | — | — | |
| Q2 2013 | +9.6% | — | — | |
| Q1 2013 | +3.4% | — | — | |
| Q4 2012 | -5.9% | — | — | |
| Q3 2012 | +4.8% | — | — | |
| Q2 2012 | -7.5% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q1 2011 | +0.0% | — | — | |
| Q4 2011 | -3.8% | — | — | |
| Q2 2011 | -3.8% | — | — | |
| Q4 2010 | -4.3% | — | — | |
| Q3 2011 | -4.3% | — | — | |
| Q3 2010 | -4.3% | — | — | |
| Q2 2010 | -3.2% | — | — |
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