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 Insights - Intelligent Bio Solutions Inc. has introduced the SmarTest® Patch, a non-invasive drug testing solution that detects substances through sweat over a 7 to 10-day period [1][2] - The SmarTest Patch complements the existing Intelligent Fingerprinting Drug Testing Solution, enhancing the company's product portfolio in non-invasive testing technologies [1][2] Product Features - The SmarTest Patch is discreet, water-resistant, and tamper-evident, designed to continuously collect sweat for drug detection [2] - It can detect a wide range of substances, including cocaine, opiates, methamphetamines, marijuana, and fentanyl [2] - The differing detection windows of the SmarTest Patch and the Intelligent Fingerprinting Drug Screening System allow the company to meet varied customer requirements [2][3] Market Opportunities - The introduction of the SmarTest Patch opens new opportunities in markets requiring longer detection windows, particularly in justice and rehabilitation settings [3] - The product enhances the company's commercial edge by providing customers with more adaptable tools for both short and long-term detection needs [3] Company Background - Intelligent Bio Solutions Inc. focuses on delivering rapid, non-invasive testing solutions and aims to revolutionize portable testing through fingerprint sweat analysis [5] - The company targets various customer segments outside the U.S., including construction, manufacturing, transport, and drug treatment organizations [5] Partner Information - SMARTOX, the developer of the SmarTest Patch, is a U.S.-based provider of drug and alcohol testing products and services, committed to advanced technology and exceptional results [4] - SMARTOX is actively expanding its presence in forensic testing markets through investments and pilot programs [4]