Intelligent Bio Solutions Inc. (Nasdaq: INBS) announced financial results for the fourth quarter and full year ending June 30, 2025, showcasing revenue growth and operational advancements.
The company achieved sequential and year-on-year revenue growth of 16%, driven by increased demand for drug testing cartridges.
Expansion efforts into the U.S. market were highlighted, with a focus on securing FDA 510(k) clearance for broader use beyond Forensic Use Only settings.
Progress Toward FDA Clearance and U.S. Market Expansion
INBS advanced efforts to secure FDA 510(k) clearance, submitting new positive data to support its opiate test system for codeine in the U.S. Expansion plans include regulatory scoping in other countries like Canada, Indonesia, and the Philippines.
Expansion Across Key Markets
Revenue from sales of goods in Q4 increased by 16% year-on-year, driven by growth in cartridge sales and new account acquisitions. Cartridge sales contributed significantly to the total income, with a 9% quarterly and 24% year-on-year increase.
Operational Efficiencies and Business Localization
The company improved operational efficiency and business localization, strengthening its fundamentals. Strategic growth initiatives included securing new accounts, forming distributor partnerships, and expanding into new markets.
- The revenue growth in the fiscal fourth quarter reflects the company's successful sales strategies and increasing demand for drug testing products, highlighting a positive market response to Intelligent Bio Solutions' offerings.
- Expansion into key markets and regulatory advancements position INBS for future growth and market expansion beyond Forensic Use Only settings, enhancing its competitive edge in the drug screening industry.
Intelligent Bio Solutions Inc.'s fiscal year 2025 demonstrated significant progress, with revenue growth, operational efficiencies, and strategic market expansion efforts. The company's focus on securing FDA clearance and expanding internationally sets a solid foundation for continued growth and innovation in the non-invasive testing solutions sector.