Company advanced efforts to secure U.S. FDA 510(k) clearance to advance on path towards planned U.S. market expansion beyond Forensic Use Only settings Fourth quarter sequential and year-on-year revenue growth of 16%, supported by increased demand for drug testing cartridges NEW YORK, Aug. 15, 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 its financi ...

Core Insights - Intelligent Bio Solutions Inc. reported a 20% sequential quarterly revenue growth and a 91% year-over-year gross profit growth for the fiscal third quarter ended March 31, 2025 [1][10] - The company achieved a significant increase in recurring higher-margin cartridge sales, which now account for 58% of total sales for the nine months ended March 31, 2025 [1][13] - The active customer base grew to over 450 accounts, with 35 new accounts added during the quarter, indicating strong customer acquisition and expansion efforts [2][8] Financial Performance - Revenue for the three months ended March 31, 2025, increased by $121,373, or 20%, to $728,867 compared to $607,494 for the previous quarter [10][13] - Gross profit for the same period rose by $162,879, or 91%, to $341,368 from $178,489 year-over-year [10][13] - Total revenue for the nine months ended March 31, 2025, was $2.21 million, a decrease from $2.38 million for the same period in 2024 [10][13] Business Strategy and Growth - The company is advancing its international growth strategy with initiatives such as expanded access in key European markets and multilingual upgrades to its drug screening system [3][4] - A focus on growing cartridge adoption is strengthening the business fundamentals, contributing to margin improvement and operational efficiency [4][8] - The company launched localized websites in multiple languages and activated multi-channel advertising campaigns targeting safety-critical industries [8][9] Regulatory and Product Development - The company granted a patent in the U.S. for the Intelligent Fingerprinting Drug Screening Cartridge, marking its sixth U.S. patent [13] - Continued regulatory scoping in Canada, Indonesia, and the Philippines supports the long-term expansion strategy [13]