Intelligent Bio Solutions Reports Record Fiscal First Quarter 2027 Revenue of $1.39 Million, Marking Sixth Consecutive Quarter of Year-Over-Year Growth
Globe Newswire•10/11/2026•08:30 ET
0
Key Highlights
- ➤Revenue $1.39 million, up 25% year-over-year and 21% sequentially
- ➤Gross profit margin 54.5%, up from 46.6% year-over-year
- ➤Cartridge sales $845,583, up 32% year-over-year, reached 61% of revenue
- ➤FDA 510(k) submission filed September 9 for codeine detection clearance
- ➤Cash and equivalents $5.93 million, up from $3.99 million at June 30
Expert Statements
Harry Simeonidis, President and CEO of Intelligent Bio Solutions
“Fiscal first quarter revenue was the highest quarterly revenue in our Company’s history.”
Harry Simeonidis, President and CEO of Intelligent Bio Solutions
“Each reader draws on a recurring supply of higher-margin cartridges, which is driving most of our revenue growth.”
Harry Simeonidis, President and CEO of Intelligent Bio Solutions
“Our business continues to scale with improving unit economics, including expanding gross profit margins driven by manufacturing efficiencies and a higher share of revenue from higher-margin cartridge consumables.”
Harry Simeonidis, President and CEO of Intelligent Bio Solutions
“In September, we submitted our 510(k) premarket notification to the FDA for the Intelligent Fingerprinting Drug Screening System, the culmination of the clinical program we executed throughout 2026 and a key step toward our planned entry into the multi-billion-dollar U.S. drug screening market.”
Harry Simeonidis, President and CEO of Intelligent Bio Solutions
“Going forward, we will continue to invest in the clinical and regulatory work behind our 510(k) submission while maintaining discipline across the rest of the business.”
Revenue up 25% year-over-year and 21% sequentially, marking third consecutive quarter above $1 million
Higher-margin cartridge sales grew 32% year-over-year and 35% sequentially, representing 61% of total revenue
Get started
Create a free account to read the full story.