Latest news with #IntelligentFingerprintingDrugScreeningSystem
Yahoo
2 days ago
- Business
- Yahoo
Intelligent Bio Solutions Expands U.S. Forensic Market Presence, Seeks FDA Clearance for Breakthrough Fingerprint Drug Testing
SMARTOX has deployed over 50 of INBS' Intelligent Fingerprinting Drug Screening Readers and facilitated over 7,000 screening tests, including more than 1,500 tests in 2024 alone Company continues to actively pursue FDA clearance in connection with planned expansion into broader U.S. markets in 2025 NEW YORK, June 11, 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 an update on its growing footprint in the U.S. Forensic Use Only Market through its strategic partnership with SMARTOX, a Texas-based leader in drug and alcohol screening services. SMARTOX supports clients across corrections, drug courts, rehabilitation centres, and other forensic environments. It has deployed over 50 Intelligent Fingerprinting Drug Screening Readers and facilitated over 7,000 screening tests, including more than 1,500 tests in 2024 alone, highlighting accelerated demand for non-invasive, rapid testing in forensic settings. INBS' drug screening technology is credited with reducing reliance on invasive methods such as urine or saliva collection, while delivering rapid and reliable results directly linked to the individual tested. As adoption grows in the U.S. Forensic Use Only market, INBS continues to actively pursue FDA clearance for its opiate test system for codeine. This effort aims to enable expansion into broader U.S. markets this year, including workplace drug testing, using its innovative fingerprint sweat-based testing technology. "We have partnered with SMARTOX to expand access to our fingerprint drug screening system across key forensic settings such as criminal justice," said Doug Heath, Vice President of Global Sales at Intelligent Bio Solutions. "SMARTOX's commitment to innovation aligns with our mission to transform drug testing through intelligent, non-invasive technologies." SMARTOX is known for its expertise, innovation, and customer-focused approach to drug testing. Its portfolio includes DOT compliance solutions, instant and lab-based testing, and advanced technologies, including INBS' Intelligent Fingerprinting Drug Screening System, which enables hygienic, non-invasive drug screening in under ten minutes using fingerprint sweat. In addition to serving clients across the U.S., SMARTOX reaches international markets through its distribution network, including Europe, Latin America, New Zealand, and Australia. "Our clients consistently report that the Intelligent Fingerprinting Drug Screening System improves efficiency, enhances user dignity, and simplifies operations," said Duffy Nabors, Vice President of Sales and Marketing at SMARTOX. "They value its speed, ease of use, and non-invasiveness, along with the ability to eliminate gender-specific staff requirements and special facilities. These benefits help our clients reduce turnaround times, lower costs, and eliminate logistical complexities, improving the overall testing experience." About SMARTOX SMARTOX, founded in 2012, is a U.S.-based provider of drug and alcohol testing products and services. It offers a comprehensive portfolio supporting a wide range of settings, including healthcare, justice, corporate, and education. SMARTOX is committed to delivering advanced technology and exceptional results, providing fully integrated services encompassing design, customer service, and administrative support for its product line. The company's footprint spans the U.S. and international markets. SMARTOX is actively scaling its presence in forensic testing markets through new investments, pilot programs, and expanded jurisdictional coverage. 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. Company Contact: Intelligent Bio Solutions Inc. info@ LinkedIn | Twitter Investor & Media Contact: Valter Pinto, Managing Director KCSA Strategic Communications PH: (212) 896-1254 INBS@
Yahoo
13-05-2025
- Business
- Yahoo
IBN Coverage: Intelligent Bio Solutions (NASDAQ: INBS) Grows Revenue, Cuts Losses in Fiscal Q3 as Cartridge Sales Drive Margins
This article was published by IBN, a multifaceted communications organization engaged in connecting public companies to the investment community. LOS ANGELES, CA - May 13, 2025 (NEWMEDIAWIRE) - Intelligent Bio Solutions (NASDAQ: INBS), a medical technology company delivering rapid, non-invasive testing solutions, reported a 20% sequential revenue increase to $728,867 in fiscal Q3 2025, driven by growth in cartridge sales, which now account for 58% of total revenue and strengthen its recurring revenue model. Gross profit surged 91% year-over-year to $341,368, while net loss narrowed by $434,141 to $2.54 million. INBS added 35 new accounts, bringing its active customer base to over 450, and continued expanding internationally through partnerships and multilingual system upgrades. The company also secured its sixth U.S. patent and advanced regulatory efforts across key global markets. 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 IBNLos Angeles, OfficeEditor@ View the original release on
Yahoo
06-02-2025
- Business
- Yahoo
EXCLUSIVE: Intelligent Bio Solutions Expects To Record Increased Profitability In Q2 On Higher-Margin Sales
On Thursday, Intelligent Bio Solutions Inc. (NASDAQ:INBS) announced preliminary fiscal second-quarter sales of approximately $0.61 million and six-month sales of roughly $1.48 million. Gross profit is expected to increase 32.6% from $0.43 million to $0.57 million for the six months. Gross profit margin is expected to increase to 38.5% from 27.7% for the six months ended December 31, 2024. Also Read: The anticipated increase in gross profit and margin is driven by the company's ongoing efforts to maximize recurring revenue from the sale of cartridges used in its Intelligent Fingerprinting Drug Screening System. Cartridge sales are expected to continue to outpace reader sales, serving as a primary source of recurring revenue with a higher profit margin. 'Our strong financial performance underscores the momentum we are building. Despite quarterly fluctuations, our total calendar year revenue grew 23% year-on-year, reflecting our sustained upward trajectory. More importantly, our strategic focus on higher-margin cartridge sales is driving a significant 11-point expansion in gross profit margin, reinforcing the strength of our business model,' said Harry Simeonidis, President and CEO at Intelligent Bio Solutions. During the fiscal second quarter, the company submitted its 510(k) premarket notification to the FDA for its Intelligent Fingerprinting Drug Screening System and strengthened its market reach through strategic partnerships. The company expects to disclose financial results for the fiscal second quarter during the week commencing February 10, 2025. In January, Intelligent Bio Solutions announced that Quantum Traffic Management, a U.K.-based traffic management provider, has adopted INBS Intelligent Fingerprinting Drug Testing Solution across 10 nationwide sites to increase workplace testing efficiency and safety. Recently, Intelligent Bio Solutions announced a partnership with IVY Diagnostics Srl to strengthen its presence in Europe and the Middle East. As a key distributor, IVY Diagnostics will help expand the adoption of Intelligent Bio Solutions' Fingerprinting Drug Testing Solution across Europe and the Middle East, focusing on drug rehabilitation and law enforcement applications. Price Action: INBS stock closed at $1.70 on Wednesday. Read Next:Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article EXCLUSIVE: Intelligent Bio Solutions Expects To Record Increased Profitability In Q2 On Higher-Margin Sales originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
