Latest news with #IntelligentBioSolutions
Globe and Mail
3 days ago
- Business
- Globe and Mail
Intelligent Bio Solutions Reports Fiscal 2025 Fourth Quarter and Full Year Results, Highlighting Progress on Planned U.S. Market Expansion, Revenue Growth and Increased Operational Efficiencies
Company advanced efforts to secure U.S. FDA 510(k) clearance to advance on path towards planned U.S. market expansion beyond Forensic Use Only settings Fourth quarter sequential and year-on-year revenue growth of 16%, supported by increased demand for drug testing cartridges NEW YORK, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) ("INBS" or the "Company"), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced its financial results and operational highlights for the fiscal fourth quarter and full-year ended June 30, 2025. Fiscal 2025 marked a year of growth for the Company, driven by higher-margin cartridge sales, operational streamlining, and regulatory advancements that support future expansion in the U.S. market, beyond current Forensic Use Only settings. The Company continues to expand its commercial presence internationally, with an active customer base exceeding 450 accounts across 24 countries, and 18 distribution partners. 'Fiscal 2025 was a pivotal year for our business as we continued to lay the foundation for global growth,' said Harry Simeonidis, President and CEO at Intelligent Bio Solutions. 'We delivered sequential growth over fiscal quarters three and two, driven by increased cartridge revenue, improved operational discipline, and growing international momentum. As we enter fiscal 2026, we're focused on three strategic priorities: further accelerating growth, advancing operational excellence, and expanding beyond Forensic Use Only settings in the U.S. Our FDA regulatory pathway remains on track, and we are committed to achieving FDA clearance to expand into the U.S., the world's largest drug screening market, and deliver our non-invasive solution to more organizations seeking fast, dignified, and reliable testing alternatives.' Progress Toward FDA Clearance and U.S. Market Expansion INBS remains focused on securing FDA 510(k) clearance for its opiate test system for codeine in the U.S., enabling broader use beyond current Forensic Use Only settings. In fiscal 2025, the Company advanced its regulatory strategy through increased engagement with regulatory consultants, refined clinical study design, and the generation of new scientific and clinical data to support its submission. The Company's submission to the FDA was supported by a comprehensive dataset comprising new positive data that further validates the security and performance of its innovative fingerprint sweat-based drug screening technology. INBS submitted performance data derived from advanced quantification methods, including human eccrine sweat testing. An Ultra-Micro Balance scale confirmed the system's capability to detect and analyze the minute sweat volumes present in a single fingerprint. The application reflects strategic input from specialized FDA consultants and expert third party partners. Regulatory expansion efforts beyond the U.S. continue, with active scoping underway in Canada, Indonesia, and the Philippines. U.S. market research efforts have progressed beyond initial scoping, with micro-level analysis underway to assess regulatory barriers, relevant drug testing legislation, population distribution, and regional industry concentrations. Expansion Across Key Markets Revenue from sales of goods in fiscal Q4 increased by 16% year-on-year and quarter-on-quarter, supported by increased demand for drug testing cartridges, steady account acquisition across safety-critical sectors and growing partnerships. Cartridge sales remained the Company's highest-margin revenue stream, contributing a growing share of total income and reinforcing the strength of its recurring revenue model. 2025 fiscal fourth quarter revenue reached $843,884, up 16% year-on-year from 2024 fiscal fourth quarter revenue of $727,824 and up 16% quarter-on-quarter from 2025 fiscal third quarter revenue of $728,867, reflecting steady sequential growth. Revenue from cartridge sales increased 9% quarter-on-quarter, 24% year-on-year for the fiscal fourth quarter, and 14% year-on-year for the full fiscal year. Revenue from reader sales increased 15% quarter-on-quarter. The Company secured 115 new accounts throughout the year, bringing the total active customer base to over 450. The Company expects this accelerated pace of new active account growth to continue into the future. New distributor partnerships and deployments in large-scale transport, logistics and construction networks underpinned strategic growth across the UK, Europe, and the Middle East. Operational Efficiencies and Business Localization Strengthen Fundamentals The Company implemented targeted measures to improve gross margins and reduce net loss, including product enhancements, manufacturing improvements, systems upgrades and the use of localized strategies and automation. The multilingual upgrade of the Intelligent Fingerprinting Drug Screening System was completed, with support for Arabic and Latin American Spanish now available. Regionally localized websites were launched in Italian, Spanish and Arabic, supporting international partners and end users in Europe, the Middle East, and Latin America. The Company fully optimized its CRM system, HubSpot, enabling region-specific workflows, lead tracking, and automation efforts to improve conversion tracking, marketing effectiveness and customer engagement. The Company commenced implementation of a new accounting system that will enhance its internal controls by improving efficiency, accuracy, and reliability in financial reporting and data management. Additionally, it commenced implementing a new accounting system for its subsidiary Intelligent Fingerprinting Limited and plans to complete this by the third fiscal quarter of FY 2025–26. The addition of a sixth U.S. patent strengthened the Company's intellectual property portfolio and reinforced its long-term defensibility. 'We've achieved an enormous amount over fiscal 2025, delivering quarter-on-quarter growth, with accelerated momentum in the second half,' said Spiro Sakiris, Chief Financial Officer at Intelligent Bio Solutions. 'This consistent performance reflects the growing traction of our testing solutions in key markets and gives us confidence in our trajectory as we move into fiscal 2026.' About Intelligent Bio Solutions Inc. Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. The Company's current customer segments outside the US include construction, manufacturing and engineering, transport and logistics firms, mining, drug treatment organizations, and coroners. For more information, visit Forward-Looking Statements Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, Intelligent Bio Solutions Inc.'s ability to successfully develop and commercialize its drug and diagnostic tests, realize commercial benefit from its partnerships and collaborations, and secure regulatory approvals, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements by terminology, including 'believes,' 'estimates,' 'anticipates,' 'expects,' 'plans,' 'projects,' 'intends,' 'potential,' 'may,' 'could,' 'might,' 'will,' 'should,' 'approximately' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, included in Intelligent Bio Solutions' public filings filed with the Securities and Exchange Commission. Any forward-looking statements contained in this release speak only as of its date. Intelligent Bio Solutions undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. Investor & Media Contact Valter Pinto, Managing Director KCSA Strategic Communications PH: (212) 896-1254 INBS@ Intelligent Bio Solutions Inc. Consolidated Balance Sheets As of June 30, As of June 30, 2025 2024 ASSETS Current assets Cash and cash equivalents $ 1,019,909 $ 6,304,098 Accounts receivable, net 594,614 429,704 Inventories, net 635,215 777,537 Research and development tax incentive receivable 734,408 525,332 Assets held for sale 327,500 - Other current assets 826,976 497,572 Total current assets 4,138,622 8,534,243 Property and equipment, net 251,325 565,850 Operating lease right-of-use assets 69,520 306,744 Intangibles, net 3,790,319 4,372,026 Total assets $ 8,249,786 $ 13,778,863 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 4,534,246 $ 1,704,568 Current portion of operating lease liabilities 84,659 274,834 Deferred grant income - 2,486,668 Current employee benefit liabilities 534,990 469,381 Notes payable 197,146 515,282 Total current liabilities 5,351,041 5,450,733 Employee benefit liabilities, less current portion 84,921 63,615 Operating lease liabilities, less current portion - 81,324 Total liabilities 5,435,962 5,595,672 Commitments and contingencies (Note 16) Shareholders' equity Common stock, $0.01 par value, 100,000,000 shares authorized, 7,323,377 and 7,323,261 shares issued and outstanding, as of June 30, 2025, respectively; 3,456,116 and 3,456,000 shares issued and outstanding, as of June 30, 2024 respectively 73,230 34,557 Treasury stock, at cost, 116 shares as of June 30, 2025 and 2024 (1) (1) Additional paid-in capital 65,783,916 60,971,740 Accumulated deficit (62,533,065) (51,964,332) Accumulated other comprehensive loss (327,944) (712,614) Total consolidated Intelligent Bio Solutions Inc. equity 2,996,136 8,329,350 Non-controlling interest (182,312) (146,159) Total shareholders' equity 2,813,824 8,183,191 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 8,249,786 $ 13,778,863 Intelligent Bio Solutions Inc. Consolidated Statements of Operations and Other Comprehensive Income (Loss) Year ended June 30, 2025 2024 Revenue $ 3,052,532 $ 3,111,781 Cost of revenue (exclusive of amortization shown separately below) (1,805,673) (1,686,155) Gross profit 1,246,859 1,425,626 Other income Government support income 816,901 424,776 Operating expenses Selling, general and administrative expenses (8,883,917) (9,258,496) Development and regulatory approval expenses (2,396,513) (1,673,806) Depreciation and amortization (1,207,875) (1,201,274) Impairment of long-lived assets (220,062) - Total operating expenses (12,708,367) (12,133,576) Loss from operations (10,644,607) (10,283,174) Other income (expense), net Interest expense (60,890) (167,140) Realized foreign exchange loss (911) (1,178) Fair value gain on revaluation of financial instrument - 175,738 Interest income 101,522 84,822 Total other income, net 39,721 92,242 Net loss (10,604,886) (10,190,932) Net loss attributable to non-controlling interest (36,153) (34,173) Net loss attributable to Intelligent Bio Solutions Inc. $ (10,568,733) $ (10,156,759) Other comprehensive income (loss) Foreign currency translation gain (loss) 384,670 (137,118) Total other comprehensive income (loss) 384,670 (137,118) Comprehensive loss (10,220,216) (10,328,050) Comprehensive loss attributable to non-controlling interest (36,153) (34,173) Comprehensive loss attributable to Intelligent Bio Solutions Inc. (10,184,063) (10,293,877) Net loss per share, basic and diluted $ (2.00) $ (6.38)
Yahoo
07-08-2025
- Business
- Yahoo
EXCLUSIVE: Intelligent Bio Expects Double Digit Topline Growth In Q4
Intelligent Bio Solutions Inc. (NASDAQ:INBS) reported preliminary fiscal fourth quarter revenue results and selected operational highlights on Thursday. Intelligent Bio Solutions is a medical technology company delivering intelligent, rapid, noninvasive testing solutions. 'Fiscal 2025 represented a year of disciplined execution and strategic investment. For the fiscal fourth quarter, we expect to report another quarter of sequential and year-over-year revenue growth,' said Harry Simeonidis, President and CEO at Intelligent Bio company expects to report fiscal fourth quarter 2025 revenue increases of approximately 16% sequentially and year‑over‑year, reflecting continued demand for its higher‑margin cartridge sales and steady account growth. Preliminary results indicate sequential revenue growth over the fiscal third and second quarters. Operational Highlights Intelligent Bio submitted the FDA 510(k) application for its opiate test system for codeine, supported by new scientific and clinical validation data. In July, the company announced the collection of new data that further reinforces the security and performance of its Intelligent Fingerprinting Drug Screening System, strengthening its FDA 510(k) submission. View more earnings on INBS Completed multilingual upgrades to the Intelligent Fingerprinting Drug Screening System, supporting broader global adoption. Launched localized websites and enhanced CRM workflows to improve partner and end-user engagement across Europe, the Middle East, and Latin America. Intelligent Bio reported a third-quarter 2025 loss of 44 cents per share, down from a loss of $1.43 a year ago. The noninvasive testing solutions provider reported third quarter sales of $728.87 thousand, down from $823.80 thousand a year ago. Price Action: At the last check Thursday, INBS stock was up 2.56% at $1.60 during the premarket session. Read Next:UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article EXCLUSIVE: Intelligent Bio Expects Double Digit Topline Growth In Q4 originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Globe and Mail
20-06-2025
- Business
- Globe and Mail
Intelligent Bio Solutions (NASDAQ: INBS) to Deploy Fingerprint Drug Testing System Across MWS Sites in Australia
Intelligent Bio Solutions (NASDAQ: INBS) announced that Managed Waste Service (MWS), a leading Australian waste management provider, will implement INBS' Intelligent Fingerprinting Drug Screening System across its New South Wales operations. Covering over 20 remote land clearing and green waste sites, this marks MWS's first shift to in-house, on-site drug testing for pre-employment, random, and for-cause purposes. The fingerprint-based system delivers non-invasive results in under ten minutes, enabling rapid safety decisions without disrupting field operations. INBS continues to expand its reach into safety-critical industries, with its scalable, sweat-based drug testing now in use by over 450 organizations across 24 countries. To view the full article, visit About Intelligent Bio Solutions Inc. Intelligent Bio Solutions Inc. is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. The Company's current customer segments outside the US include construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners. About BioMedWire BioMedWire ('BMW') is a specialized communications platform with a focus on the latest developments in the Biotechnology (BioTech), Biomedical Sciences (BioMed) and Life Sciences sectors. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today's market, BMW brings its clients unparalleled recognition and brand awareness. BMW is where breaking news, insightful content and actionable information converge. To receive SMS alerts from BioMedWire, 'Biotech' to 888-902-4192 (U.S. Mobile Phones Only) For more information, please visit Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: BioMedWire Austin, Texas 512.354.7000 Office Editor@ BioMedWire is powered by IBN
Globe and Mail
09-06-2025
- Business
- Globe and Mail
Intelligent Bio Solutions (NASDAQ: INBS) Showcases Portable Drug Testing System at RISE25
The company's non-invasive fingerprint drug screening system uses fingerprint sweat to screen for drugs such as cannabis, cocaine, methamphetamine, and opiates. Results are available in under ten minutes, supporting faster, on-site decision-making in treatment and justice settings. INBS is pursuing FDA approval and further entry into the U.S. market, where it currently operates in a Forensic Use Only capacity. The company has over 450 active accounts in 24 countries, targeting sectors such as healthcare, justice, and workplace safety. INBS partnered with SMARTOX, a U.S. distributor, to connect with stakeholders in criminal justice and addiction recovery. Intelligent Bio Solutions (NASDAQ: INBS), a medical technology company specializing in rapid, non-invasive testing solutions, recently attended the RISE25 conference to demonstrate its portable Intelligent Fingerprint Drug Screening System, continuing its push into the U.S. market for rapid, non-invasive screening technologies ( The event, held May 28–31 in Florida, attracted over 7,000 professionals from the fields of addiction treatment, mental health, and criminal justice. The conference has become a national gathering point for… Read More>> NOTE TO INVESTORS: IBN is a multifaceted financial news, content creation and publishing company utilized by both public and private companies to optimize investor awareness and recognition. For more information, please visit Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: Corporate Communications
Associated Press
23-05-2025
- Business
- Associated Press
IBN Coverage: Intelligent Bio Solutions (NASDAQ: INBS) to Showcase Fingerprint Drug Testing at RISE25 Conference
This article was published by IBN, a multifaceted communications organization engaged in connecting public companies to the investment community. LOS ANGELES, CA - May 22, 2025 ( NEWMEDIAWIRE ) - Intelligent Bio Solutions (NASDAQ: INBS) announced its participation at the RISE25 conference in Kissimmee, Florida, from May 28 to 31, 2025, where it will support U.S. distribution partner SMARTOX. INBS will demonstrate its Intelligent Fingerprinting Drug Screening System - a non-invasive, rapid test using fingerprint sweat to detect substances like THC, cocaine, methamphetamine, and opiates. With results delivered in under 10 minutes, the technology is well-suited for treatment courts and justice applications. INBS views the event as a key platform to engage stakeholders as it advances toward U.S. market entry. To view the full press release, visit About Intelligent Bio Solutions Inc. Intelligent Bio Solutions Inc. is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. The Company's current customer segments outside the US include construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners. NOTE TO INVESTORS: IBN is a multifaceted financial news, content creation and publishing company utilized by both public and private companies to optimize investor awareness and recognition. For more information, please visit Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: The latest news and updates relating to INBS are available in the company's newsroom at Forward Looking Statements Certain statements in this article are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading 'Risk Factors' discussed under the caption 'Item 1A. Risk Factors' in Part I of the Company's most recent Annual Report on Form 10-K or any updates discussed under the caption 'Item 1A. Risk Factors' in Part II of the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this article in making an investment decision, which are based on information available to us on the date hereof. All parties undertake no duty to update this information unless required by law. About IBN IBN is a cutting-edge communications and digital engagement platform providing tailored Platform Solutions for select private and public companies. Over the course of 19+ years, IBN has introduced over 70 investor facing brands to the investment public and amassed a collective audience of millions of social media followers. These distinctive investor brands amplify recognition and reach as well as help fulfill the unique needs of our rapidly growing and diverse base of client-partners. IBN will continue to expand our branded network of influential properties as well as leverage the energy and experience of our team of professionals to best serve our clients. IBN's Platform Solutions provide access to: (1) our Dynamic Brand Portfolio (DBP) through 70+ investor facing brands; (2) article and editorial syndication to 5,000+ news outlets; (3) full-scale distribution to a growing Social Media Network (SMN) ; (4) a network of wire solutions via InvestorWire to effectively reach target markets and demographics; (5) Press Release Enhancement to ensure accuracy and impact; (6) a full array of corporate communications solutions; and (7) total news coverage solutions. For more information, please visit Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: Media Contact IBN Los Angeles, California 310.299.1717 Office [email protected] View the original release on
