NASDAQ$NOTV
Inotiv Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Announced Q4 and full year fiscal 2022 financial results.
Inotiv's Q4 2022 revenue increased due to a rise in DSA revenue and incremental RMS revenue. However, the company reported a consolidated net loss, including a non-cash goodwill impairment charge related to the RMS segment.
- Total revenue increased due to rise in DSA revenue and incremental RMS revenue.
- Organic growth of DSA revenue was $12.0 million, and acquisitions added $2.1 million of incremental service revenue.
- Consolidated net loss included a non-cash goodwill impairment charge of $236.0 million related to the RMS segment.
- Company had $18.5 million in cash and cash equivalents as of September 30, 2022.
Headline financials
Revenue & EPS history
Inotiv · Revenue · Quarterly
$150M
Revenue by segment
Inotiv · $134M total across 2 segments · Q4 2022
- RMS$106M—79.2%
- DSA$27.8M—20.8%
Forward guidance
The Company's guidance takes into account a number of factors, including existing DSA backlog, current sales pipeline, trends in cancellations and delays, trends in pricing, the impact of new products and services and recent cost-cutting initiatives including the announced facility consolidation plans in the U.S.
Tailwinds
- FY 2023 revenue of at least $580 million
- Estimated Q1 FY 2023 revenue of $118 million to $122 million
- Estimated revenue during Q2-Q4 FY 2023 of approximately $460 million
- Adjusted EBITDA of $75 million
- Capital expenditures to moderate from 2022 and are providing guidance of no more than $25 million of expected capital expenditures during FY 2023
Headwinds
- Guidance takes into account existing DSA backlog, current sales pipeline, trends in cancellations and delays, trends in pricing, the impact of new products and services and recent cost-cutting initiatives including the announced facility consolidation plans in the U.S
- Guidance represents the Company’s best efforts to estimate the impact of the non-human primate (“NHP”) supply disruption that was identified in Q1 FY 2023
- Company’s decision to refrain from selling or delivering any of its Cambodian NHPs held in the U.S. until the Company’s staff and external experts can evaluate what additionally could be done to satisfy itself that the NHPs in inventory from Cambodia can be reasonably determined to be purpose-bred
- Guidance of $75 million of Adjusted EBITDA includes an expected negative Adjusted EBITDA margin in Q1 FY 2023
- Estimated Adjusted EBITDA margin of approximately 17% during the nine-month period of Q2-Q4 FY 2023
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 Q4 2022
+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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