Intelligent Bio Solutions Inc. Announces Fiscal Q2 2025 Financial Results and Key Operational Achievements

Intelligent Bio Solutions Inc. (NASDAQ: INBS) recently reported its financial results for the fiscal quarter that ended on December 31, 2024. The company’s performance showed a notable increase in gross profit and gross profit margin, driven by the rise in higher-margin cartridge sales. The fiscal quarter was successful across various aspects, including financial achievements and strategic advancements.

Harry Simeonidis, President and CEO at Intelligent Bio Solutions, noted, “Our business model is excelling, with higher-margin cartridge sales steadily increasing, contributing to our gross profit and margin growth.” He further emphasized achievements in regulatory milestones, with the submission of the FDA 510(k) package in December, positioning the company on track for expansion into the U.S. market in 2025.

Spiro Sakiris, CFO at Intelligent Bio Solutions, highlighted, “We were pleased that gross profit grew to 32.6% while gross profit margins increased to 38.5% from 27.7% for the six months ended December 31, 2024, year-over-year,” indicating sustained financial strength and growth through the focus on cartridge sales.

The company’s strategic partnerships have increased visibility across the Asia-Pacific Region and the U.S. In the quarter, Intelligent Bio Solutions secured 19 new accounts, adding to its 400+ active customer accounts across 19 countries, reflecting a consistently expanding customer base.

Financially, Intelligent Bio Solutions reported total revenues of $0.61 million for the fiscal second quarter and $1.48 million for the six months ended December 31, 2024. The company saw a 32.6% increase in gross profit, with the gross profit margin rising to 38.5% for the six months ended December 31, 2024.

Despite fluctuations in revenue from sales of goods, the company maintained an increased focus on higher-margin cartridge sales, leading to improved gross profit margins. The rise in gross profit margin was also attributed to enhanced production capacity, streamlining operational processes, and a strategic sales mix.

Looking ahead, Intelligent Bio Solutions remains committed to its expansion plans and the introduction of its Intelligent Fingerprinting Drug Screening System into the U.S. market in 2025. The company’s continued investment in research and development activities and strategic partnerships signal a forward-thinking approach to growth and innovation.

About Intelligent Bio Solutions Inc.
Intelligent Bio Solutions Inc. is a leading medical technology company offering innovative, rapid, non-invasive testing solutions. The company’s Intelligent Fingerprinting Drug Screening System has promising applications in portable testing through fingerprint sweat analysis, providing efficient drug screening results within minutes.

For more details, you can visit the company’s website at http://www.ibs.inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read GBS’s 8K filing here.

About GBS

GBS Inc operates as a biosensor diagnostic technology company in the Asia-Pacific and North America. It offers Saliva Glucose Biosensor, an organic thin-film transistor for diabetes management that measures glucose in saliva. The company also focuses on developing SARS-CoV-2 Biosensor, a biosensor test can be used as a complement to the (RNA) virus detection test; and a biosensor platform comprising of biochemistry, immunology, tumor markers, hormones, and nucleic acid diagnostic modalities.