Core Insights - Intelligent Bio Solutions Inc. has successfully received and deployed its first shipment of Intelligent Fingerprinting Drug Screening Readers through a partnership with Syrma Johari, marking a significant step in scaling production capacity and validating the operational and financial benefits of the collaboration [1][3] - The partnership is expected to deliver annual production cost savings of over 40%, leading to an anticipated improvement of approximately 20 percentage points in gross margin annually [1][3] - The company has doubled its in-house production capacity for lateral flow test strips, enhancing vertical integration and accelerating research and development [1][4] Production and Manufacturing - The first shipment of readers is being deployed across key customer verticals such as construction, transportation, logistics, and manufacturing in the U.K. and Europe, supporting growing commercial demand [2] - The partnership with Syrma Johari has provided access to manufacturing capacity approximately four times greater than prior capabilities, allowing for accelerated fulfillment and cost savings [3] - The company has sourced advanced manufacturing equipment that has doubled its in-house production capacity for lateral flow test strips, improving margins and reducing lead times [4] Strategic Positioning - The successful deployment of the first shipment and increased production capacity positions the company to enter the U.S. market with operational strength and the ability to grow with demand [5] - The company is building a vertically integrated, cost-efficient manufacturing engine that supports margin expansion and accelerates innovation [5] - Additional production shipments are expected throughout 2026 as the company continues to build inventory and expand its commercial footprint [5] Company Overview - Intelligent Bio Solutions Inc. is a medical technology company focused on delivering intelligent, rapid, non-invasive testing solutions, particularly through its Intelligent Fingerprinting Drug Screening System [6] - The system is designed to screen for recent drug use in workplace settings, providing results in under ten minutes, which is valuable for employers in safety-critical industries [6] - Current customer segments outside the U.S. include construction, manufacturing, transport, logistics, mining, drug treatment organizations, and coroners [6]

Initial 13-site deployment with UK subsidiary of global construction firm employing 35,600 employees across 50+ countries, validates commercial scalability and ROI of INBS’s fingerprint drug testing technologyNEW YORK, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced a partnership with Bouygues UK, a subsidiary of Bouygues Construction, a multi ...

(Exact name of registrant as specified in its charter) FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): February 5, 2026 INTELLIGENT BIO SOLUTIONS INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (State of Incorporation) (Commission File Number) Delaware 001-39825 82-1512711 (IRS employer identification no.) 135 West, 41st Street, 5th Floor New York, NY 10036 (Address of principal exec ...

Revenue and Sales Performance - Revenue from sales of goods increased by $289,280 to $896,774 for the three months ended December 31, 2025, compared to $607,494 for the same period in 2024, driven by the addition of 17 new customers[110]. - Revenue from sales of goods increased by $528,790 to $2,008,571 for the six months ended December 31, 2025, compared to $1,479,781 for the same period in 2024, due to the addition of 49 new customers[111]. - Revenue for the three months ended December 31, 2025, was $896,774, up from $607,494 in the same period of 2024, while revenue for the six months ended December 31, 2025, reached $2,008,571, compared to $1,479,781 in 2024[119]. Profitability Metrics - Gross profit increased by $236,626 to $459,739 for the three months ended December 31, 2025, from $223,113 for the same period in 2024[114]. - Gross margin improved to 48.69% from 38.51% in the prior-year period, attributed to operational efficiencies and capitalization of certain direct labor costs[115]. - Contribution margin increased by $235,881 to $667,923 for the three months ended December 31, 2025, from $432,042 for the same period in 2024, with an improvement of approximately 3.36 percentage points[117]. - Contribution margin increased by $473,016 to $1,469,657 for the six months ended December 31, 2025, from $996,641 for the same period in 2024, reflecting an improvement of approximately 5.82 percentage points due to enhanced production efficiency and a favorable sales mix[118]. Operating Expenses - Total operating expenses increased to $3,168,197 for the three months ended December 31, 2025, from $2,621,235 for the same period in 2024[109]. - Selling, general and administrative expenses rose by $527,927 to $2,337,041 for the three months ended December 31, 2025, and by $1,238,735 to $4,996,865 for the six months ended December 31, 2025, driven by increased marketing and staffing costs[122]. Net Loss and Financial Health - Net loss attributable to Intelligent Bio Solutions Inc. was $2,677,590 for the three months ended December 31, 2025, compared to a net loss of $2,249,470 for the same period in 2024[109]. - The Company expects its cash and cash equivalents will be insufficient to fund its operating plan for at least 12 months, raising substantial doubt about its ability to continue as a going concern[149]. - The Company intends to raise additional capital through equity or debt financings, but there is no assurance that such funding will be available on acceptable terms[150]. Strategic Initiatives and Future Outlook - The company anticipates annual production cost savings of more than 40% from a new strategic manufacturing partnership, leading to an expected improvement of approximately 20 percentage points in gross profit[108]. - The company expanded sales and distribution throughout Australia, New Zealand, and other countries in the APAC Region, establishing necessary infrastructure and regulatory compliance[108]. - The company initiated research to broaden the capabilities of the Intelligent Fingerprinting System to test for additional drugs, facilitating expansion into point-of-care medical testing[108]. - The Company expects development and regulatory expenses to increase in future periods as it continues to gather additional supporting data for its new 510(k) submission to the FDA[126]. Capital and Financing Activities - The company raised approximately $3,624,773 through the sale of 347,863 shares under the At-the-Market Offering Agreement from September 18, 2024, to December 31, 2025[141]. - The Company issued a total of 154,549 shares of common stock, raising approximately $3.84 million in gross proceeds from the exercise of Series G and Series H-1 Warrants[144]. - The December Private Placement raised approximately $10.0 million in gross proceeds, intended for working capital and general corporate purposes[147]. - The Company has a repayment obligation of $2,096,222 related to the Australian Government Grant, which is disclosed as liabilities on the balance sheet[149]. Accounting and Compliance - The Company filed a Resale Registration Statement with the SEC by January 10, 2026, which was declared effective on January 21, 2026[148]. - The Company has elected to use the extended transition period for complying with new accounting standards, which may affect the comparability of its financial statements[151]. - The Company’s critical accounting policies and estimates are detailed in its 2025 Form 10-K, which may impact its financial statements materially[154]. - As of December 31, 2025, the Company did not have any off-balance sheet arrangements[152].

Core Insights - Intelligent Bio Solutions Inc. reported a revenue of over $2 million for the first half of fiscal 2026, reflecting a 36% year-over-year increase [1][8] - Reader sales more than doubled, increasing by 104% year-over-year in the second quarter, indicating strong market demand for the company's non-invasive drug testing technology [3][7] - Gross profit margins improved to 49%, up 10% from the previous year, showcasing enhanced operational efficiency [1][8] Financial Performance - For the three months ended December 31, 2025, total revenue reached $896,774, a 48% increase year-over-year, driven by significant growth in reader and cartridge sales [5][7] - Reader sales for the second quarter amounted to $246,519, up 104% from $120,787 in the same period last year, while cartridge sales grew by 33% to $516,754 [5][7] - For the six months ended December 31, 2025, total revenue was $2,008,571, with reader sales increasing by 50% to $533,432 and cartridge sales growing by 38% to $1.2 million [8][17] Operational Highlights - The company added 49 new customer accounts in the first half of fiscal 2026, indicating sustained customer adoption across international markets [8] - A new manufacturing partnership was announced, expected to enhance gross profit margins and drive cost efficiencies [6][12] - The company is progressing towards FDA 510(k) submission, aiming for entry into the U.S. market, which is projected to be a multi-billion-dollar opportunity [5][12] Strategic Initiatives - The company formed a strategic alliance with Vlepis Pty Ltd to enter the consumer health monitoring market, broadening revenue opportunities beyond commercial screening [12] - A major contract was secured with a leading industrial service provider, further expanding the company's presence in safety-critical sectors [12] - The company is focused on maintaining financial discipline while investing in commercial expansion linked to operational results [3][12]

Core Insights - Intelligent Bio Solutions Inc. anticipates record revenue growth for fiscal Q2 2026, driven by an expanding customer base and strong performance across all product categories [1][2] - Reader sales are expected to more than double year-over-year, with a growth rate exceeding 100% in fiscal Q2 [1][2] - The company emphasizes a razor-razorblade business model, where each reader placement fosters long-term relationships that generate recurring cartridge revenue [2] Revenue Expectations - Total revenue for fiscal Q2 2026 is projected to be approximately $2.01 million, reflecting a 36% year-over-year increase [5] - Cartridge sales are expected to rise by approximately 38% year-over-year, while reader sales are anticipated to increase by about 50% year-over-year [5] - Other sales, including accessories and training, are expected to grow by approximately 10% year-over-year [5] Business Model and Strategy - The anticipated 33% growth in cartridge sales illustrates the effectiveness of the company's business model, highlighting new customer adoption and ongoing demand for consumables [2] - The company is confident in its commercial strategy and aims to capture greater market share as its installed reader base expands [2] - The Intelligent Fingerprinting Drug Screening System is positioned to revolutionize portable testing through rapid, non-invasive methods, targeting various industries such as construction and logistics [3]

Core Insights - Intelligent Bio Solutions Inc. has initiated a clinical study program to support its FDA 510(k) submission for the Intelligent Fingerprinting Drug Screening System, aimed at detecting the opiate codeine [1][5] - The U.S. drug screening market presents a significant commercial opportunity, generating several billion dollars annually across various sectors [4] Company Overview - Intelligent Bio Solutions Inc. specializes in intelligent, rapid, non-invasive testing solutions, with a focus on fingerprint-based drug screening technology [6] - The Intelligent Fingerprinting Drug Screening System is designed to be hygienic, cost-effective, and capable of providing results in under ten minutes, making it suitable for safety-critical industries [6] Clinical Study Details - The first clinical study will involve 40 adults and will assess codeine detection cut-off levels using the Intelligent Fingerprinting Drug Screening Cartridge and DSR-Plus fluorescence reader [3] - The study will compare results with an FDA-cleared device and will utilize liquid chromatography-tandem mass spectrometry (LC-MS/MS) for corroboration [3] Market Potential - The U.S. drug screening market is the largest globally, with applications in workplace testing, criminal justice, pain management, and substance abuse treatment [4] - The company's technology offers advantages over traditional testing methods, including improved hygiene, ease of use, rapid results, and reduced collection costs [4] Strategic Partnerships - The company has partnered with Cliantha Research, a clinical research organization, to leverage its expertise in regulatory and clinical trials [2] - Subject recruiting and screening for the clinical study have already begun, with the first testing cohort starting on January 28, 2026 [5]

Group 1: Market Activity - Several biotech and healthcare companies experienced notable gains in after-hours trading, indicating renewed investor interest in drug development and healthcare services [1] - Zentalis Pharmaceuticals, Inc. (ZNTL) surged 17.65% to close at $4.40, attributed to a recent corporate update that boosted investor confidence in its azenosertib development program [2] - LifeMD, Inc. (LFMD) climbed 12.18% to $4.33 following the announcement of a new senior secured revolving credit facility with Citizens Bank, providing up to $50 million in total availability [3] Group 2: Company-Specific Developments - NanoViricides, Inc. (NNVC) advanced 11.11% to $1.24, driven by speculative interest despite no recent news [4] - Intelligent Bio Solutions Inc. (INBS) posted a 9.10% increase, closing at $19.55, continuing to gain momentum from overall investor enthusiasm in the biotech sector [4] - IO Biotech, Inc. (IOBT) rose 6.49% to $0.60, suggesting bargain-hunting activity at lower price levels [5] Group 3: Financing and Agreements - China SXT Pharmaceuticals, Inc. (SXTC) advanced 2.06% to $18.29 after disclosing a definitive agreement for the purchase of 66,666,666 Class A ordinary shares at $0.15 per share, highlighting efforts to strengthen its capital position [6]

Core Viewpoint - Intelligent Bio Solutions Inc. has successfully closed a private placement with institutional investors, raising approximately $10 million to support its operations and product development [1][2]. Group 1: Private Placement Details - The private placement involved the issuance of 2,298,850 shares of common stock and associated Series K-1 and K-2 warrants, priced at $4.35 per share [1]. - The Series K-1 and K-2 warrants have an exercise price of $4.10 per share and are exercisable immediately upon issuance, with a term of five years [1]. - The expected gross proceeds from this placement are approximately $10 million, before deducting fees and expenses [1]. Group 2: Use of Proceeds - The company intends to utilize the proceeds for working capital and general corporate purposes, including funding its 510(k) submission with the FDA for its Intelligent Fingerprinting Drug Screening System [2]. - The funds will also support the company's efforts to expand into international markets [2]. Group 3: Company Overview - Intelligent Bio Solutions Inc. specializes in non-invasive testing solutions, particularly through its Intelligent Fingerprinting Drug Screening System, which analyzes fingerprint sweat [5]. - The system is designed to be hygienic and cost-effective, screening for drugs commonly found in workplace settings, including opiates, cocaine, methamphetamine, and cannabis [5]. - The company targets various customer segments outside the U.S., including construction, manufacturing, transport, and drug treatment organizations [5].

Core Insights - Intelligent Bio Solutions (INBS) has announced a strategic manufacturing partnership with Syrma Johari MedTech Ltd to enhance global production capabilities and long-term profitability [1][7][8] - The partnership aims to build a more resilient supply chain and improve margins ahead of INBS's planned entry into the U.S. market [2][4] Company Developments - INBS's shares surged 132.4% to close at $9.53 following the announcement, although the stock has seen a 47.9% decline over the past six months compared to a 7.1% growth in the industry [3] - The partnership is expected to yield over 40% in annual production cost savings and a 20-point improvement in gross margins [9][10] - Syrma Johari will significantly expand INBS's manufacturing capacity, providing approximately four times its current capacity [9][10] Operational Benefits - The collaboration is anticipated to lower production costs, enhance gross margins, and mitigate supply-chain risks through diversified manufacturing [4][9] - Syrma Johari operates 14 manufacturing facilities and four design centers across multiple regions, which will support INBS's broader commercial expansion [10] Industry Outlook - The global drug screening market is projected to grow from $9.1 billion in 2024 to $19.5 billion by 2029, with a CAGR of 16.6%, driven by increased drug and alcohol consumption and stricter testing regulations [11]