Core 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]

Core Viewpoint - Intelligent Bio Solutions Inc. is focused on obtaining FDA clearance for its innovative fingerprint sweat-based drug screening technology, with a response expected within six weeks, aiming for U.S. market entry in 2025 [1][4]. Company Developments - The company submitted an Additional Information response to the FDA, which includes new positive data that enhances its 510(k) submission and validates the technology's security and performance [1][4]. - The updated submission involved extensive cybersecurity testing, dedicating 10,000 hours to data collection, resulting in 23 detailed test reports and over 1,900 pages of documentation [2][4]. - The technology has been reaffirmed for accuracy using advanced quantification methods, confirming its capability to detect minute sweat volumes from a single fingerprint [3][4]. Market Strategy - Securing FDA clearance is a top priority for the company as it seeks to enter the multi-billion-dollar U.S. market, which presents significant commercial opportunities [4]. - The company's non-invasive drug screening technology is already in use across more than 450 accounts in 24 countries, with a growing international presence supported by 18 global distribution partners [4][5]. - The technology is designed for rapid testing, providing results in under ten minutes, making it suitable for safety-critical industries such as construction, manufacturing, and law enforcement [5].