NOTVQ
Inotiv, Inc.
Next earnings Aug 4, 2026 · consensus $-0.48 EPS, $139M rev
$0.01
▼ -7.14%$0.01▼ -99.38%
over 1Y
L $0.01H $2.36
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-7.1%
1W+0.0%
1M-96.2%
3M-96.3%
YTD-98.1%
1Y-99.5%
Avoid
Conviction
Horizon
Long (>12mo)
Street · 8 analysts
Buy
NOTVQ's 'Q' ticker and $402M of debt due now against $21.7M cash flag a restructuring that wipes out equity — uninvestable.
Current portion of debt $402M · FY2025
Inotiv is a real, operating CRO — and the operations are actually improving. FY2025 revenue rose 4.5% to $513M, the operating loss narrowed to -$30.9M from -$86.4M, net loss shrank to -$68.6M from -$108.4M, and the RMS segment swung to $20.6M operating income from a -$31.9M loss as the $28.5M plea-agreement charge didn't repeat and a $7.55M legal settlement landed. DSA backlog grew to $138.2M with a 1.05x book-to-bill. None of that is the point. The point is the capital structure, which is broken beyond what an equity holder can survive.
The balance sheet is the whole story: total debt of $402.1M is now classified as current (LongTermDebtCurrent jumped +11,266% YoY; long-term debt went to $0), against just $21.7M of cash. Current liabilities of $557M dwarf current assets of $195M — a $362M working-capital hole. Operating cash flow was -$10.5M and worsened YoY, so the business does not internally fund the debt wall. Management has engaged Perella Weinberg to 'explore potential debt refinancing alternatives' and is selling U.S. properties with proceeds mandated to repay term-loan principal — the language of a company negotiating with lenders, not one operating from strength. The 'Q' appended to the ticker signals a bankruptcy proceeding, and at a $447K market cap the market has already priced the common as an option worth essentially nothing.
Is NOTVQ a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~90d expiry
- Long put 0 @ ~0.00 est
- Short put 0 @ ~0.00 est
debit $0max +$0max $0
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | $548M | $572M | $491M | $513M |
| Gross profit | $30.2M | — | — | — | — |
| Operating income | -$5.62M | -$263M | -$81.5M | -$86.4M | -$30.9M |
| Net income | $10.9M | -$337M | -$105M | -$108M | -$68.6M |
| Diluted EPS | $0.19 | -$13.84 | -$4.10 | -$4.19 | -$2.11 |
| Net margin | — | -61.5% | -18.4% | -22.1% | -13.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$381M
EV / EBITDA15.2
EV / Sales0.7
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-19670.0%
FCF yield-7759.1%
Quality & risk
ROIC (est.)-4.5%
Free cash flow-$27.1M
Total debt$402M
Net cash-$380M
Altman Z-Score-1.18 distress
Piotroski F-Score5/9
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+32.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Other event2026-06-08
Post-petition Other Event update; trading/delisting fallout after Chapter 11 filing
- 8-K Bankruptcy2026-06-03
Filed Chapter 11 bankruptcy (Item 1.03); RSA/DIP entered, debt accelerated — equity wiped
- 8-K Material agreement2026-06-01
Incurred new financial obligation (bridge/forbearance financing) days before bankruptcy
- 8-K Agreement terminated2026-05-18
Forbearance/new debt, senior officer departure and charter amendment amid liquidity crisis
- 10-Q Quarterly report2026-05-11
Q2 FY26: continued losses, $402M debt current, going-concern doubt persists
- 8-K Other event2026-05-05
Other Event disclosure amid mounting going-concern/refinancing pressure
- 8-K Other event2026-04-21
Other Event disclosure ahead of debt maturity wall
- 10-Q Quarterly report2026-02-09
Q1 FY26: ongoing net losses, negative operating cash flow, refinancing unresolved
- 10-K/A Restated periodic report2026-01-28
Amended FY25 10-K (Part III/proxy details); no financial restatement
Recent filings
all on EDGAR ↗4Period ending 2026-06-182026-06-23open ↗4Period ending 2026-06-182026-06-23open ↗4Period ending 2026-06-182026-06-23open ↗4Period ending 2026-06-182026-06-23open ↗4Period ending 2026-06-182026-06-23open ↗4Period ending 2026-06-182026-06-23open ↗8-KPeriod ending 2026-06-042026-06-08open ↗8-KPeriod ending 2026-06-022026-06-03open ↗8-KPeriod ending 2026-05-282026-06-01open ↗3Period ending 2026-05-142026-05-19open ↗3Period ending 2026-05-142026-05-19open ↗8-KPeriod ending 2026-05-132026-05-18open ↗
Frequently asked
- Is Inotiv, Inc. (NOTVQ) a buy?
- NOTVQ currently carries a Avoid rating with 5/5 conviction, derived from its latest SEC filings. NOTVQ's 'Q' ticker and $402M of debt due now against $21.7M cash flag a restructuring that wipes out equity — uninvestable.
- What is Inotiv, Inc.'s quality score?
- NOTVQ scores 56.450980392156865/100 (grade C) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000720154, latest 10-Q filed 2026-05-11) · EODHD · Proprietary analysis · as of 7/4/2026, 10:49:12 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 4, 2026, 6:49 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.