GBS(US:INBS) Globenewswireยท2025-08-15 12:30Core Insights - Intelligent Bio Solutions Inc. reported a 16% year-on-year and quarter-on-quarter revenue growth in the fourth quarter of fiscal 2025, driven by increased demand for drug testing cartridges [1][5][7] - The company is focused on securing FDA 510(k) clearance for its opiate test system, which will allow for broader use beyond forensic settings in the U.S. market [4][6] - Fiscal 2025 was characterized by operational streamlining, higher-margin cartridge sales, and an expanding international customer base exceeding 450 accounts across 24 countries [2][3][11] Financial Performance - Revenue for the fiscal fourth quarter reached $843,884, up from $727,824 in the same quarter of the previous year, reflecting a 16% increase [7] - Total revenue for fiscal 2025 was $3,052,532, a slight decrease from $3,111,781 in fiscal 2024 [17] - The company reported a net loss of $10,568,733 for fiscal 2025, compared to a net loss of $10,156,759 in fiscal 2024 [17] Operational Highlights - The company secured 115 new accounts in fiscal 2025, contributing to a total of over 450 active customer accounts [11] - Revenue from cartridge sales increased by 24% year-on-year in the fourth quarter and 14% year-on-year for the full fiscal year [7] - The company implemented measures to improve gross margins and reduce net loss, including product enhancements and manufacturing improvements [8] Regulatory and Market Expansion - The company is actively working on its regulatory strategy to secure FDA clearance, which includes engaging with regulatory consultants and refining clinical study designs [4][6] - Efforts to expand into international markets are ongoing, with active scoping in Canada, Indonesia, and the Philippines [6] - The company aims to expand its commercial presence in the U.S. market, which is the largest drug screening market globally [3][4]