Acquiring and Developing Services and Resources to Build a Full Service, Customer-Focused CRO has Fueled 847% Revenue Growth
WEST LAFAYETTE, Ind., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Inotiv today announced it ranked 138 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Over the last five years Inotiv grew 847%.
Inotiv’s president and chief executive officer, Robert Leasure, Jr., credits the company’s growth trajectory to listening to customers’ concerns and needs. He said, "Inotiv is incredibly proud to be recognized as a 2024 Deloitte Technology Fast 500™ winner for a second year. As we continue to build a top-tier, mid-sized, full-service CRO and provider of research models, we have concentrated on enhancing, integrating and streamlining the core elements of our company which has evolved through strategic acquisitions over the past five years. At the same time, we are transforming our organization to consistently exceed our customers’ expectations and provide solutions and products to support their critical research. Inotiv remains dedicated to delivering value for our customers, employees and shareholders as we continue our journey as a trusted partner in the discovery and development of life-saving therapies for people around the world."
“For 30 years we’ve been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year’s list, surpassing life sciences for the first time,” said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. “Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program’s history. This year’s winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated.”
“Innovation, transformation and disruption of the status quo are at the forefront for this year’s Technology Fast 500 list, and there’s no better way to celebrate 30 years of program history,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s Audit & Assurance practice. “This year’s winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress. We extend our congratulations to all of this year’s winners — it’s an incredible time for innovation.”
Inotiv previously ranked 127 as a Technology Fast 500 award winner for 2023.
Overall, 2024 Technology Fast 500 companies achieved revenue growth ranging from 201% to 153,625% over the three-year time frame, with an average growth rate of 1,981% and median growth rate of 460%.
About the 2024 Deloitte Technology Fast 500 Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Inotiv Inotiv, Inc. is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company’s products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development, all while increasing efficiency, improving data, and reducing the cost of taking new drugs to market. Inotiv is committed to supporting discovery and development objectives as well as helping researchers realize the full potential of their critical R&D projects, all while working together to build a healthier and safer world. Further information about Inotiv can be found here: https://www.inotiv.com/.
Company Contact Inotiv, Inc Beth A. Taylor, Chief Financial Officer (765) 497-8381 beth.taylor@inotiv.com
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