Intelligent Bio Solutions Inc., a Delaware-incorporated medical technology company, announced preliminary unaudited revenue results for the fiscal second quarter and six months ended December 31, 2023, on February 2, 2024. The company, which is listed on the Nasdaq Stock Market under the symbol INBS, reported a significant year-over-year revenue increase of 114% for the quarter and 337% for the six-month period. The company's Chief Financial Officer, Spiro Sakiris, expressed optimism about the growth, attributing it to market penetration efforts. Additionally, the company saw a 30% rise in cartridge sales and a 91% rise in reader sales. President and CEO Harry Simeonidis highlighted the company's expansion into New Zealand and anticipated growth in the Asia-Pacific region. The company's drug screening solution...Show More

Intelligent Bio Solutions Inc., a Delaware-incorporated medical technology company, announced preliminary unaudited revenue results for the fiscal second quarter and six months ended December 31, 2023, on February 2, 2024. The company, which is listed on the Nasdaq Stock Market under the symbol INBS, reported a significant year-over-year revenue increase of 114% for the quarter and 337% for the six-month period. The company's Chief Financial Officer, Spiro Sakiris, expressed optimism about the growth, attributing it to market penetration efforts. Additionally, the company saw a 30% rise in cartridge sales and a 91% rise in reader sales. President and CEO Harry Simeonidis highlighted the company's expansion into New Zealand and anticipated growth in the Asia-Pacific region. The company's drug screening solution is gaining traction due to its efficiency and cost-saving benefits. The preliminary revenue figures are subject to adjustments upon completion of the quarter-end financial close process. Intelligent Bio Solutions expects to file its full financial results for the period in its Quarterly Report on Form 10-Q during the week commencing February 5, 2024. The company specializes in non-invasive testing solutions, including a drug screening system that uses fingerprint sweat analysis, and has a biosensor platform capable of testing for a wide range of indications.