Inotiv quarterly loss narrows; site optimization efforts continue
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West Lafayette-based Inotiv Inc. is reporting a fiscal second-quarter net loss of $14.9 million, compared to a loss of $48.1 million during the same period last year.
The pharmaceutical testing company said this week that it is continuing its site optimization plans and now has a timeline in sight to complete the effort.
Inotiv said revenue for the quarter totaled $124.3 million, marking a 4.4% year-over-year increase. CEO Robert Leasure said in a news release that the company made “solid progress against our financial and operational objectives.”
Inotiv has spent the last few years consolidating operations at sites across the U.S. and United Kingdom. The company said two properties are under contract to be sold as of March 31, though the specific locations were not provided.
“As we have continued to work through our optimization plans, we now expect the U.S. optimization plans to be complete by the end of the second quarter of fiscal 2026,” the company said.
During the quarter, Inotiv also settled a lawsuit it filed against Freese and Nichols Inc., an infrastructure consulting and engineering firm headquartered in Fort Worth, Texas.
Inotiv claimed the firm, among other things, failed to design an adequately sized lagoon to dispose of the current wastewater and wastewater from expanded operations at the company’s location in Alice, Texas.
Under the terms of the settlement agreement, Inotiv received a payment of $7.6 million.
“Looking ahead, we remain attentive to external factors, including tariffs, client R&D funding levels, and the recently announced efforts to accelerate implementation of the FDA Modernization Act 2.0, passed in December 2022,” Leasure said. “We have proactive mitigation strategies in place for current tariffs and believe our historical DSA acquisitions and long-term investments, including facility enhancements, strong compliance culture, service quality and RMS site optimization, position us to meet client needs, support the objectives of FDA modernization, and drive long-term shareholder value.”
You can view the full earnings report by clicking here.