Intelligent Bio Solutions Inc. reported fourth-quarter sequential and year-on-year revenue growth of 16% driven by increased demand for drug testing cartridges.
The company advanced efforts to secure U.S. FDA 510(k) clearance for expanding into the U.S. market beyond Forensic Use Only settings, aiming for broader use of its opiate test system.
Revenue from sales of goods in fiscal Q4 increased by 16% year-on-year and quarter-on-quarter, with steady account acquisition and growing partnerships.
FDA Clearance Progress
INBS focused on securing FDA 510(k) clearance for its opiate test system for codeine, supported by new positive performance data and engagement with regulatory consultants.
Revenue Growth
Cartridge sales contributed significantly to revenue, with a 9% quarter-on-quarter increase and 24% year-on-year growth in the fiscal fourth quarter.
Market Expansion
The Company secured 115 new accounts in fiscal 2025, with distributor partnerships in transport, logistics, and construction sectors strengthening growth.
- The revenue growth from cartridge sales and reader sales signifies a strong performance in the fiscal fourth quarter, reflecting the company's focus on high-margin revenue streams.
- Operational streamlining and regulatory advancements support future expansion in the U.S. market, beyond current Forensic Use Only settings, enhancing the Company's global growth strategy.
Intelligent Bio Solutions Inc. demonstrated significant growth in fiscal 2025, driven by operational efficiencies, revenue growth from cartridge sales, and progress towards securing FDA clearance for market expansion. The Company's strategic focus on growth, excellence, and market expansion positions it for continued success in fiscal 2026.