Welcome to our dedicated page for Intelligent Bio Solutions news (Ticker: $INBS), a resource for investors and traders seeking the latest updates and insights on Intelligent Bio Solutions stock.
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Intelligent Bio Solutions Inc. (INBS) reported an 80% increase in revenue for the fiscal third quarter and a 193% increase for the nine months ended March 31, 2024. Cash and cash equivalents stood at $9.40 million. The company started FDA 510(k) clinical studies with Cliantha Research and aims for US entry in 2025. INBS secured 26 new customer accounts, totaling around 16,779 employees. The total revenue for the fiscal third quarter was $0.82 million, a 80% hike from the previous year. A net loss of $2.98 million was reported, including non-cash expenses. The Company raised approximately $10.76 million in the fiscal quarter. Financial highlights include growth in revenue from sales of goods and a decrease in net loss attributable to INBS. Operational highlights consist of significant partnerships and a new European patent for its technology.
