NEW YORK, May 29, 2024 (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 the successful recruitment and commencement of screening for subjects in its pharmacokinetic (PK) study, a critical component of the Company's FDA 510(k) regulatory pathway for clearance. Harry Simeonidis, President and CEO at INBS, commented, "As we navigate the FDA 510(k) regulatory pa ...

NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) ("INBS" or the "Company"), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today unveiled key performance indicators from its United Kingdom operations. These indicators have contributed to the Company's growth as the drug screening industry continues to combat drug test cheating and searches for simpler, faster, non-invasive, and more cost-effective solutions. For the nine mo ...

NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) ("INBS" or the "Company"), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today unveiled key performance indicators from its United Kingdom operations. These indicators have contributed to the Company's growth as the drug screening industry continues to combat drug test cheating and searches for simpler, faster, non-invasive, and more cost-effective solutions. For the nine mo ...

Core Insights - Intelligent Bio Solutions Inc. successfully showcased its Intelligent Fingerprinting Drug Screening Solution at The Health & Safety Event 2024, which is the largest annual technology showcase in the UK focused on workplace safety [1][2] - The event attracted over 250 exhibitors and more than 11,500 attendees, with a significant percentage of attendees being key decision-makers [2] Company Developments - Company representatives conducted live demonstrations of the drug screening technology, engaging with notable clients to address the issue of drug driving in the logistics sector [3] - Discussions were held with a South American distributor regarding a pilot program to integrate the technology into hospitals and emergency services in Chile, indicating potential global expansion [4] Market Position and Technology - The Intelligent Fingerprinting Drug Screening System is the first to utilize fingerprint sweat for rapid drug detection, providing results in under ten minutes for substances like cannabis, cocaine, opiates, and methamphetamine [5][6] - The technology is designed to be hygienic and cost-effective, making it suitable for safety-critical industries such as construction, manufacturing, and logistics [6] Leadership Commentary - The Vice President of Global Sales highlighted the event as the most successful yet for the company, emphasizing the growing commitment to workplace safety solutions [5] - The President & CEO reaffirmed the technology's suitability for evolving safety needs across industries, noting the enthusiastic feedback received during the event [5]

Year-over-year revenue increased 80% for the fiscal third quarter and 193% for the nine months ended March 31, 2024 Cash and cash equivalents as of March 31, 2024, was $9.40 million Commenced FDA 510(k) clinical studies plan with Cliantha Research and remains on track for planned submission by the end of 2024 and planned entry into the US in 2025 Secured 26 new customer accounts throughout the quarter, representing a combined headcount of approximately 16,779 employees NEW YORK, May 8, 2024 —Intelligent Bio ...

Financial Performance - Revenue for the quarter ended March 31, 2024, increased by $366,742 to $823,800 compared to $457,058 in the same period in 2023, attributed to customer base expansion[174] - Gross profit for the quarter ended March 31, 2024, was $178,489, a significant increase from $33,049 in the same period in 2023[172] - The company reported a net loss of $2,986,765 for the quarter ended March 31, 2024, compared to a net loss of $6,352,017 in the same period in 2023[172] - Revenue from sales of goods increased by $1,570,220, reaching $2,383,957 for the nine months ended March 31, 2024, compared to the same period in 2023[175] - Gross profit increased by $332,975 to $610,068 for the nine months ended March 31, 2024, due to revenue growth from an expanded customer base[180] - Net loss attributable to INBS decreased by $600,287 to $7,372,512 for the nine months ended March 31, 2024, primarily due to prior goodwill impairment charges[202] Operating Expenses - The total operating expenses for the quarter ended March 31, 2024, were $3,216,066, a decrease from $6,694,128 in the same period in 2023[172] - Selling, general and administrative expenses increased by $993,473 to $6,587,934 for the nine months ended March 31, 2024, primarily due to marketing and compliance costs[186] - Development and regulatory approval expenses increased by $543,349 to $923,712 for the nine months ended March 31, 2024, driven by in-house R&D staff costs[189] - Interest expenses decreased by $51,367 to $112,590 for the nine months ended March 31, 2024, due to the conversion of convertible notes into common shares[193] Cash Position - As of March 31, 2024, the company had a cash balance of $9.40 million after raising approximately $10.76 million through a warrant inducement transaction and a private placement offering[171] - Cash and cash equivalents as of March 31, 2024, were $9,397,523, with working capital of $5,814,284[204] - The company expects its cash and cash equivalents may be insufficient to fund its current operating plan for at least the next twelve months[205] Customer and Market Development - The company secured 26 new customer accounts during the quarter, representing a combined headcount of approximately 16,779 employees[171] - The company announced a partnership with Cliantha Research to conduct pharmacokinetic studies as part of its FDA 510(k) clinical studies plan, aiming for a product launch in the U.S. in 2025[171] - A new European patent for the DSR-Plus Cartridge Reader was granted, effective in 17 European countries[171] Risks and Uncertainties - The company operates in a competitive environment with ongoing risks and uncertainties that may affect future results[161] - Unrealized foreign currency translation loss increased by $66,239 to $144,026 for the quarter ended March 31, 2024, compared to the same period in 2023[199] Equity Interest - The company has a 50% equity interest in BiosensX (North America) Inc., which has a separate technology license agreement for glucose/diabetes management in North America[168] Cost of Revenue - Cost of revenue increased by $1,237,245 to $1,773,889 for the nine months ended March 31, 2024, driven by the increase in revenue from the acquisition of IFP[177]

Year-over-year revenue increased 80% for the fiscal third quarter and 193% for the nine months ended March 31, 2024 Cash and cash equivalents as of March 31, 2024, was $9.40 million Commenced FDA 510(k) clinical studies plan with Cliantha Research and remains on track for planned submission by the end of 2024 and planned entry into the US in 2025 Secured 26 new customer accounts throughout the quarter, representing a combined headcount of approximately 16,779 employees NEW YORK, May 08, 2024 (GLOBE NEWSWIRE ...

NEW YORK, April 11, 2024 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. ("INBS" or the "Company") (NASDAQ:INBS), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced the broadening of the intellectual property portfolio of its wholly owned subsidiary, Intelligent Fingerprinting Limited, with the grant of a new European patent with unitary effect for its ground-breaking DSR-Plus Cartridge Reader. This latest achievement follows the successful protect ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number 001-39825 Intelligent Bio Solutions Inc. (Exact name of Registrant as specified in its Charter) Delaware 82-1512711 ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number 001-39825 Intelligent Bio Solutions Inc. (Exact name of Registrant as specified in its Charter) Delaware 82-1512711 ...