GBS(US:INBS) Globenewswire·2025-11-12 13:30Core Insights - Intelligent Bio Solutions Inc. reported record quarterly revenue of $1.11 million, marking a 32% increase sequentially and a 28% increase year-over-year, primarily driven by consumable cartridge sales and customer base expansion [1][2][3] Financial Performance - The fiscal 2026 first quarter revenue reached $1,111,797, up 32% from the previous quarter and 28% from the same quarter last year [7] - Cartridge sales accounted for approximately 57.59% of total revenue, increasing from 51.1% in the prior year, indicating a strong recurring revenue model [7] - Gross profit margins improved by 690 basis points year-over-year to 46.6%, attributed to enhanced operational efficiency and a favorable product mix [2][7] Operational Highlights - The company added 33 new customer accounts during the quarter, bringing the total to 492 across more than 24 countries [7] - A significant contract was secured with a London public transport operator, covering 14 operational sites and over 4,400 staff, representing a major scale deployment [7] - The product portfolio was expanded with the introduction of the SmarTest® Patch, a continuous drug monitoring solution [7] Strategic Market Expansion - The company is focusing on strategic partnerships and international market expansion, positioning itself for continued growth [2][6] - A global distribution agreement was established with SMARTOX® to introduce the SmarTest Patch technology to markets outside the U.S. and Canada [7]