Sep. 10 at 12:09 PM
$NOTV Key Takeaways
• Strategic Shift: Moving from an acquisition-driven model to integration and efficiency. Facility footprint reduced by ~35% while maintaining capacity.
• DSA Segment Strength: Strong growth (+25–27% awards in recent quarters), high profitability (50–60% flow-through, up to 70–80% in Discovery). Backlog and conversion rates improving.
• Operational Investments: Focus on biotherapeutics, genetic toxicology, surgical services; improved transport/logistics infrastructure to enhance customer experience.
• NHP Supply Challenges: U.S. imports down ~50% vs. three years ago. Inotiv expanding domestic breeding and boarding to secure supply; received exemplary rating from AAALAC for animal welfare.
• Cyberattack Response: Recent ransomware event handled without material disruption; resilience and backup systems proven.
• Capital & Debt Management:
$350M shelf registration remains available; focus on refinancing/repaying 2026 term debt and 2027 convertibles.
