GlobeNewswire·Nov 10, 2026, 8:30 AM ET

Intelligent Bio Solutions Reports Record Fiscal First Quarter 2027 Revenue of $1.39 Million, Marking Sixth Consecutive Quarter of Year-Over-Year Growth

Intelligent Bio Solutions Inc. reported fiscal first quarter 2027 revenue of $1.39 million, a 25% year-over-year & 21% sequential increase marking the third consecutive quarter above $1 million.
Cartridge sales grew 32% year-over-year & 35% sequentially to $845,583, representing 61% of total revenue.
Gross profit margin expanded to 54.5% from 46.6% in the prior-year quarter, driven by manufacturing efficiencies & higher-margin cartridge sales.
The company submitted its FDA 510(k) premarket notification on September 9, 2026, for the Intelligent Fingerprinting Drug Screening System targeting codeine detection.
Cash & cash equivalents increased to $5.93 million at September 30, 2026, from $3.99 million at June 30, 2026.
The active customer base reached 516 accounts as of September 30, 2026, with 27 new accounts added during the quarter & a reader installed base of 1,978 units.
The company achieved ISO 13485:2016 recertification for its Intelligent Fingerprinting Drug Screening business.
Net loss for the quarter was $2.66 million, compared to $2.99 million in the same period the prior year.
The 510(k) submission included clinical data demonstrating accuracy above 98%, sensitivity above 94%, & specificity of 100% across three independent U.S. clinical sites.