Intelligent Bio Solutions expects to achieve 32.6% Gross Profit Expansion and Increased Profitability on Higher-Margin Sales

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]