Core Insights - Intelligent Bio Solutions Inc. anticipates a gross profit increase of 32.6% for the six months ending December 31, 2024, driven by higher-margin cartridge sales [1][6] - The company reported unaudited revenue of approximately $0.61 million for fiscal Q2 and $1.48 million for the six months ended December 31, 2024 [1][6] - The company is expanding its market presence in the U.S. and internationally through FDA submissions and strategic partnerships [1][3] Financial Performance - Total calendar year revenue grew by 23% year-on-year, indicating a sustained upward trajectory [3] - Gross profit margin is expected to increase to 38.5% from 27.7% for the six months ended December 31, 2024 [6] - The anticipated increase in gross profit and margin is attributed to the ongoing efforts to maximize recurring revenue from cartridge sales [6] Market Strategy - The company submitted its 510(k) premarket notification to the FDA for its Intelligent Fingerprinting Drug Screening System, aiming to enter the multi-billion-dollar U.S. drug screening market in 2025 [3] - Strategic partnerships are expected to enhance opportunities in both U.S. and international markets, focusing on brand awareness and leveraging proprietary technology [3][5] - The Intelligent Fingerprinting Drug Screening System is designed for rapid, non-invasive drug testing, targeting safety-critical industries [5]

Multilingual upgrade will make INBS’ Drug Screening System accessible to over 4 billion users worldwide, including users across the Americas, Europe, Asia and the Middle East, supporting its strategic global expansion goals and planned 2025 entry into the US market.NEW YORK, Jan. 31, 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 plans for a major upg ...

Core Insights - Intelligent Bio Solutions Inc. (INBS) has transitioned Quantum Traffic Management (Quantum TM) from traditional saliva and urine testing to a non-invasive, in-house fingerprint sweat-based drug screening solution [1][2] - Quantum TM, with over 30 years of experience, operates in various sectors and has adopted INBS' technology to enhance workplace testing efficiency and safety [2][5] - INBS plans to enter the US market in 2025, leveraging its FDA 510(k) submission and the growing global point-of-care (POC) drug screening market [4] Company Overview - Intelligent Bio Solutions Inc. specializes in innovative, rapid, non-invasive testing solutions, particularly through its Intelligent Fingerprinting Drug Screening System [6] - The system screens for commonly used drugs in the workplace, providing results in under ten minutes, making it suitable for safety-critical industries [6] - INBS currently serves over 400 accounts across 19 countries, including sectors like construction, manufacturing, transport, and logistics [4] Industry Context - Quantum TM has shifted to INBS' technology due to inefficiencies and delays associated with traditional testing methods, allowing for on-the-spot drug screening [2][3] - The adoption of fingerprint sweat-based testing represents a significant advancement in drug screening technology, offering a hygienic and cost-effective alternative [6] - The global POC drug screening market is rapidly expanding, presenting growth opportunities for companies like INBS [4]

Quantum Traffic Management transitions from saliva and urine testing to non-invasive, in-house fingerprint sweat-based drug screening Most recent client added to INBS's portfolio of more than 400 accounts across the globe, as the Company plans entry into the US market in 2025 NEW YORK, Jan. 29, 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 that Quantu ...

Core Insights - Intelligent Bio Solutions Inc. (INBS) has strengthened its presence in Europe and the Middle East through a partnership with IVY Diagnostics, focusing on the adoption of its Intelligent Fingerprinting Drug Testing Solution in drug rehabilitation and law enforcement applications [1][4] Company Overview - Intelligent Bio Solutions Inc. is a medical technology company that provides rapid, non-invasive testing solutions, particularly through its Intelligent Fingerprinting Drug Screening System, which analyzes fingerprint sweat for drug use [7][8] - The system is designed to be hygienic and cost-effective, screening for drugs commonly found in workplaces, with results available in under ten minutes [7] Market Potential - The European drug screening market is projected to reach $3.6 billion by 2030, while the Middle East and Africa market is expected to grow to $432.7 million, highlighting the strategic importance of INBS' partnership with IVY Diagnostics [2] - The collaboration with IVY Diagnostics allows INBS to leverage an extensive network of distributors across key regions, including Romania, Hungary, Slovakia, Austria, and Scandinavia, as well as targeting markets in the UAE, Saudi Arabia, and Qatar [4] Partnership Details - IVY Diagnostics has secured a tender to provide INBS' drug screening technology for drug rehabilitation programs in Italy, emphasizing the non-invasive and rapid nature of the solution [3] - The drug screening system is also undergoing trials with local police in Turin to assess its effectiveness in roadside screening initiatives [3] Strategic Importance - The partnership with IVY Diagnostics is crucial for introducing INBS' technology to new markets and industries, with IVY's expertise in regulatory landscapes and connections enhancing INBS' market penetration efforts [5]

Princebuild joins INBS’ portfolio of over 400 accounts in 19 countries as the Company plans to enter the US market in the first half of the 2025 calendar yearNEW YORK, Jan. 14, 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 that Princebuild, a leading construction firm with seven sites and operations spanning six key divisions, has adopted INBS’ Intel ...

NEW YORK, Dec. 18, 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 submission of its 510(k) premarket notification to the US Food and Drug Administration (FDA) for clearance following FDA review of its Intelligent Fingerprinting Drug Screening System (the "System"), an innovative, rapid and pain-free method for drug screening. The submission represe ...

Core Insights - Intelligent Bio Solutions Inc. (INBS) is hosting a virtual fireside chat on December 11, 2024, at 4:30 p.m. ET to discuss recent clinical study results and the path to FDA 510(k) submission [1][2] Company Overview - Intelligent Bio Solutions Inc. is a medical technology company focused on delivering innovative, rapid, non-invasive testing solutions [3] - The company's Intelligent Fingerprinting Drug Screening System utilizes fingerprint sweat analysis for drug testing, targeting substances commonly found in workplace settings such as opiates, cocaine, methamphetamine, and cannabis [3] - The testing system is designed to be hygienic and cost-effective, providing results in under ten minutes, making it suitable for safety-critical industries [3] - Current customer segments outside the US include construction, manufacturing, engineering, transport and logistics, drug treatment organizations, and coroners [3]

Intelligent Bio Solutions Inc. (INBS) recently announced positive initial results from its Pharmacokinetic (PK) study. The study is important for supporting FDA 510(k) clearance of the company’s Intelligent Fingerprinting Drug Screening technology.Per the PK study's data, the amount and rate of codeine in blood and saliva are mimicked by fingerprint sweat. Based on 95% confidence level statistical comparisons, the study effectively demonstrated that fingerprint sweat offers a dependable sample matrix for dr ...

Unaudited quarterly revenue increased 10% year-on-year and 20% quarter-on-quarter Higher-margin, recurring cartridge revenue expected to surpass reader revenue as primary driver Expanded distribution network in Saudi Arabia NEW YORK, Oct. 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 preliminary unaudited revenue results for the fiscal first quar ...