Intelligent Bio Solutions Inc. (INBS), a medical technology company, announced its financial results for the fourth quarter and full fiscal year ended June 30, 2024. The company reported a fourth-quarter revenue of $0.73 million, marking a 64% increase from the previous year, and a full-year revenue of $3.11 million, up 148% year-over-year. As of June 30, 2024, INBS had $6.30 million in cash. President and CEO Harry Simeonidis highlighted the strong customer demand and increased orders for the company's drug screening technology. CFO Spiro Sakiris noted the strategic expansion and consistent revenue from cartridge sales, with over 1,000 readers installed. INBS also reported operational highlights, including the completion of the in-clinic portion of its Pharmacokinetic (PK) study for FDA 510(k) clearance, new European patent...Show More

Intelligent Bio Solutions Inc. (INBS), a medical technology company, announced its financial results for the fourth quarter and full fiscal year ended June 30, 2024. The company reported a fourth-quarter revenue of $0.73 million, marking a 64% increase from the previous year, and a full-year revenue of $3.11 million, up 148% year-over-year. As of June 30, 2024, INBS had $6.30 million in cash. President and CEO Harry Simeonidis highlighted the strong customer demand and increased orders for the company's drug screening technology. CFO Spiro Sakiris noted the strategic expansion and consistent revenue from cartridge sales, with over 1,000 readers installed. INBS also reported operational highlights, including the completion of the in-clinic portion of its Pharmacokinetic (PK) study for FDA 510(k) clearance, new European patent for its DSR-Plus Cartridge Reader, and various partnerships and market expansions. The company's loss from operations decreased to $10.28 million in fiscal 2024 from $12.59 million the previous year, and the net loss attributable to INBS was $10.16 million, down from $10.63 million. The financial results also included comprehensive tables detailing assets, liabilities, and shareholders' equity, as well as a statement of operations and other comprehensive income (loss).