Summary by Moomoo AI
Intelligent Bio Solutions Inc. (INBS) reported its financial performance for the quarter ended December 31, 2023. The company saw an increase in revenue to $764,063, up from $356,679 in the same period last year, primarily due to the expansion of its customer base and entry into new markets. Cost of revenue also rose to $564,815, resulting in a gross profit of $199,248. Government support income decreased to $153,204. Operating expenses totaled $2,343,809, with selling, general and administrative expenses at $1,705,044, development and regulatory approval expenses at $348,452, and depreciation and amortization at $290,313. The company experienced a net loss of $1,969,641, an increase from the previous year's $420,600, attributed to the combined operations post-acquisition of IFP and the absence of a fair value gain recognized in the prior year. Other comprehensive...Show More