Intelligent Bio Solutions Reports 28% Revenue Increase to $1.11 Million, Faces Net Loss of $2.99 Million

Intelligent Bio Solutions Inc. reported a revenue of $1.11 million for the three months ending September 30, 2025, marking a 28% increase from $872,287 in the same period last year. The company's gross profit also rose significantly to $518,291, up from $346,801, reflecting a gross profit margin of 46.6%, compared to 39.68% in the prior year. However, the company continues to face challenges, posting a net loss of $2.99 million, which is an increase from a loss of $2.69 million in the previous year. The increase in revenue was attributed to an expanded customer base and higher sales of consumable products, particularly cartridges, which accounted for 57.59% of total sales.

In terms of operational changes, the company added 33 new customer accounts during the quarter, bringing the total to 492 active accounts. The increase in selling, general, and administrative expenses to $2.66 million from $1.95 million in the previous year was primarily due to heightened marketing and promotional activities. Additionally, the company recorded an impairment of long-lived assets amounting to $261,780, which was not present in the prior year. The company’s cash and cash equivalents increased to $1.66 million from $1.02 million, although it reported a working capital deficit of $577,705.

Strategically, Intelligent Bio Solutions has made significant strides, including securing a major contract with a large public transport operator in London and establishing a global distribution agreement with SMARTOX® for its SmarTest Patch product. The company is also working towards FDA 510(k) clearance for its Intelligent Fingerprinting Drug Screening System, with expectations for approval in the second half of 2026. The company’s product portfolio continues to evolve, with plans to expand its offerings and market presence in the Asia Pacific region and Europe.

Looking ahead, the company anticipates continued operating losses and recognizes the need for additional funding to support its operations and growth initiatives. Management has expressed concerns regarding its ability to maintain operations without raising further capital, which may impact its long-term viability. The company is actively exploring various financing options to address its liquidity needs, but there are no guarantees that it will secure the necessary funds on favorable terms. The ongoing development of its products and expansion into new markets remain critical to its future success.