Intelligent Bio Solutions Reports Record Fiscal Second Quarter Revenue Growth of 48% with Reader Sales Surging 104% Year-Over-Year
Rhea-AI Summary
Intelligent Bio Solutions (Nasdaq: INBS) reported fiscal Q2 revenue of $896,774, up 48% YoY, and six‑month revenue of $2.01M, up 36% YoY. Reader sales surged 104% YoY to $246,519 in Q2; cartridges rose 33% YoY to $516,754.
Gross profit margin for H1 fiscal 2026 improved to 49% (from 39%). The company closed a $10.0M private placement (net proceeds $9.40M received Jan 2, 2026) and announced manufacturing and commercial partnerships while advancing FDA 510(k) studies.
Positive
- Revenue +48% YoY in fiscal Q2 to $896,774
- Reader sales +104% YoY in fiscal Q2 to $246,519
- Cartridge sales +33% YoY in fiscal Q2 to $516,754
- H1 gross margin improved to 49%, up 10 percentage points
- Closed $10.0M private placement; net proceeds $9.40M received Jan 2, 2026
Negative
- Total H1 revenue remains modest at $2.01M, early-stage commercial scale
- Operational plans rely on private placement proceeds for working capital
News Market Reaction – INBS
On the day this news was published, INBS declined 6.67%, reflecting a notable negative market reaction. Argus tracked a peak move of +3.4% during that session. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $456K from the company's valuation, bringing the market cap to $6.38M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
INBS fell 4.55% while key peers showed mixed moves: AIMD (-7.45%), NXL (-11.37%), ALUR (-6.78%) versus NVNO (+1.42%) and SINT (+1.16%). Combined with no peers in the momentum scanner, this points to a stock-specific reaction rather than a clean sector-wide trend.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 12 | Q1 2026 earnings | Positive | -1.7% | Record quarterly revenue and higher margins driven by cartridge mix and new accounts. |
| May 13 | Q3 2025 earnings | Positive | +11.5% | Strong revenue growth, gross profit expansion and rising high‑margin cartridge share. |
| Feb 13 | Q2 2025 earnings | Negative | -4.8% | Higher gross margin but lower sales and increased net loss versus prior year quarter. |
| Nov 07 | Q1 2025 earnings | Positive | +13.2% | Revenue growth with cartridge sales overtaking readers and progress toward FDA submission. |
| Oct 29 | Prelim Q1 2025 | Positive | -4.4% | Preliminary revenue growth update emphasizing recurring cartridge revenue and global accounts. |
Earnings releases have generally highlighted revenue and margin growth but produced mixed price reactions, with both rallies and sell-offs, indicating that strong fundamentals have not consistently translated into positive short-term moves.
Over the past several earnings cycles, INBS has repeatedly reported revenue growth and expanding gross margins. Events on Nov 12, 2025 and earlier highlighted record revenue, higher cartridge mix, and growing international accounts, while also noting larger net losses at times. Price reactions to these earnings ranged from declines to double‑digit gains, showing no uniform pattern. Today’s reported 48% quarterly revenue growth and higher 49% gross margin continue the narrative of scaling recurring cartridge revenue and operational leverage.
Historical Comparison
Past earnings updates for INBS paired solid revenue and margin growth with an average move of 2.74%, but reactions often diverged, reflecting mixed sentiment around funding needs and execution risk.
Earnings releases show a progression from early revenue growth and cartridge mix improvement to record quarterly sales and higher gross margins, while the company advances toward FDA 510(k) clearance and broader U.S. market entry.
Regulatory & Risk Context
An effective S-3 resale shelf filed on Jan 9, 2026 registers 6,896,550 shares from the December 2025 private placement. INBS will not receive proceeds from share resales but could receive up to $18.87 million if the related warrants are exercised for cash, and the filing notes that the large registered block could pressure the stock if sold rapidly.
Market Pulse Summary
The stock moved -6.7% in the session following this news. A negative reaction despite robust Q2 growth to $896,774 and a 49% first-half gross margin would fit prior patterns where strong fundamentals did not always support the share price. Past earnings moves averaged 2.74% with several downside reactions. Recent financing, including a $10.0 million private placement and an effective shelf registering 6,896,550 resale shares, may also influence sentiment given potential overhang and prior going‑concern and listing‑compliance disclosures.
Key Terms
510(k) regulatory
private placement financial
AI-generated analysis. Not financial advice.
First half fiscal 2026 revenue surpasses
Reader sales more than double to
Gross profit margins for first half fiscal 2026 increased
Current assets balance of
NEW YORK, Feb. 12, 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 its financial results and operational highlights for the fiscal second quarter and six months ended December 31, 2025, and provided a business update.
"Our second quarter figures demonstrate consistency and solid progress across our business,” said Harry Simeonidis, President and CEO of INBS. “Reader sales more than doubling shows market demand for our non-invasive fingerprint drug testing technology and significantly expands our installed base, the engine for future recurring revenue. Equally important is the
"We are seeing the financial model take shape as intended,” said Spiro Sakiris, CFO of INBS. “
Product Revenue Breakdown
Three Months Ended December 31, 2025:
- Reader sales of
$246,519 , up104% year-over-year - Cartridge sales of
$516,754 , up33% year-over-year - Other sales of
$133,501 , up36% year-over-year - Total revenue of
$896,774 , up48% year-over-year
Six Months Ended December 31, 2025:
- Reader sales of
$533,432 , up50% year-over-year - Cartridge sales of
$1.2 million , up38% year-over-year - Other sales of
$317,594 , up10% year-over-year - Total revenue of
$2.01 million , up36% year-over-year
Fiscal Second Quarter 2026 and Subsequent Highlights
- Initiated additional clinical studies for FDA 510(k) submission, supporting the Company’s planned entry into the multi-billion-dollar U.S. market, beyond the Forensic Use Only category.
- Closed a
$10.0 million private placement with two healthcare-focused institutional investors priced at-the-market under Nasdaq rules. The net proceeds receivable of$9.40 million were received on January 2, 2026. The Company intends to use the proceeds for working capital and general corporate purposes, including funding our 510(k) submission with the FDA and furthering international market expansion. - Announced a new manufacturing partnership expected to improve gross profit margins and drive cost efficiencies across the production process, positioning INBS to benefit from improved unit economics as production volumes scale. The partnership represents a strategic step toward achieving sustainable margin expansion as the business grows.
- Announced a strategic alliance formed with Vlepis Pty Ltd, an Australian medical technology company specializing in wearable sensing and patch technologies, positioning the Company to enter the fast-growing consumer health monitoring market and broaden revenue opportunities beyond commercial screening into B2B2C and direct-to-consumer channels.
- Secured a major contract with a leading industrial service provider, demonstrating continued market traction and expanding the Company's presence in safety-critical industrial sectors where non-invasive drug screening delivers operational value.
- Provided an updated timeline for anticipated FDA 510(k) submission, reaffirming the Company's commitment to planned U.S. market entry and progressing through the regulatory pathway that will unlock access to the biggest drug screening market in the world.
The Company generated
For the six months ended December 31, 2025, INBS generated
INBS's proprietary fingerprint technology addresses key pain points in drug screening, including privacy and dignity, user experience, and operational efficiency, positioning the Company to capitalize on the growing global demand for non-invasive, rapid drug screening solutions. The second quarter's reader installation surge creates a growing installed base that management believes will drive sustained cartridge demand in future periods. With proven traction throughout 27 countries and hundreds of customer accounts spanning construction, manufacturing, transportation, mining, and other safety-critical sectors, INBS has established commercial momentum as it enters the second half of fiscal 2026.
About Intelligent Bio Solutions Inc.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. The Company’s current customer segments outside the U.S. include construction, manufacturing and engineering, transport and logistics firms, mining, drug treatment organizations, and coroners.
For more information, visit: https://ibs.inc/
Forward-Looking Statements
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, statements regarding Intelligent Bio Solutions Inc.’s ability to successfully develop and commercialize its drug and diagnostic tests, realize commercial benefits from its partnerships and collaborations, and secure regulatory clearance or approvals, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, actual results may differ materially from those expressed or implied by such statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements by terminology, including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” and “approximately,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those described in Intelligent Bio Solutions’ public filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this release speak only as of the date of this release. Intelligent Bio Solutions undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
Company Contact
Intelligent Bio Solutions Inc.
info@ibs.inc
Investor & Media Contact
Valter Pinto, Managing Director
KCSA Strategic Communications
PH: (212) 896-1254
INBS@kcsa.com
Financial Tables to Follow
| Intelligent Bio Solutions Inc. Condensed Consolidated Balance Sheets | ||||||||
| December 31, | June 30, | |||||||
| 2025 | 2025 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 740,371 | $ | 1,019,909 | ||||
| Accounts receivable, net | 456,657 | 594,614 | ||||||
| Subscription receivable from shareholders, net | 9,402,105 | - | ||||||
| Inventories | 590,246 | 635,215 | ||||||
| Research and development tax incentive receivable | 505,172 | 734,408 | ||||||
| Assets held for sale | - | 327,500 | ||||||
| Other current assets | 480,133 | 826,976 | ||||||
| Total current assets | 12,174,684 | 4,138,622 | ||||||
| Property and equipment, net | 321,741 | 251,325 | ||||||
| Operating lease right-of-use assets | 1,887,178 | 69,520 | ||||||
| Intangibles, net | 3,269,439 | 3,790,319 | ||||||
| Total assets | $ | 17,653,042 | $ | 8,249,786 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable andaccrued expenses | $ | 4,261,236 | $ | 4,534,246 | ||||
| Currentportion of operating lease liabilities | 382,518 | 84,659 | ||||||
| Current employee benefit liabilities | 470,486 | 534,990 | ||||||
| Notes payable | 13,001 | 197,146 | ||||||
| Total current liabilities | 5,127,241 | 5,351,041 | ||||||
| Employee benefit liabilities, less currentportion | 106,926 | 84,921 | ||||||
| Operating lease liabilities, less currentportion | 1,529,064 | - | ||||||
| Total liabilities | 6,763,231 | 5,435,962 | ||||||
| Commitments and contingencies | - | |||||||
| Shareholders’ equity | ||||||||
| Common stock, | 12,384 | 7,323 | ||||||
| Treasury stock, at cost, 12 shares as of December 31,2025 and June 30, 2025* | (1 | ) | (1 | ) | ||||
| Additionalpaid-in capital* | 79,540,489 | 65,849,823 | ||||||
| Accumulated deficit | (68,193,661 | ) | (62,533,065 | ) | ||||
| Accumulated other comprehensive loss | (266,079 | ) | (327,944 | ) | ||||
| Totalconsolidated Intelligent Bio Solutions Inc. equity | 11,093,132 | 2,996,136 | ||||||
| Non-controlling interest | (203,321 | ) | (182,312 | ) | ||||
| Total shareholders’ equity | 10,889,811 | 2,813,824 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 17,653,042 | $ | 8,249,786 | ||||
| * | Common stock and per share amounts have been retroactively adjusted to reflect a 1-for-10 reverse stock split effected on December 15, 2025, throughout the condensed consolidated financial statements unless otherwise stated. |
| Intelligent Bio Solutions Inc. Condensed Consolidated Statements of Operations and Other Comprehensive Income (Loss)* (Unaudited) | ||||||||||||||||
| Three Months Ended December 31, | Six Months Ended December 31, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue | $ | 896,774 | $ | 607,494 | $ | 2,008,571 | $ | 1,479,781 | ||||||||
| Cost of revenue (exclusive of amortization shown separately below) | (437,035 | ) | (384,381 | ) | (1,030,541 | ) | (909,867 | ) | ||||||||
| Gross profit | 459,739 | 223,113 | 978,030 | 569,914 | ||||||||||||
| Other income | ||||||||||||||||
| Government support income | 72,720 | 133,640 | 265,987 | 259,768 | ||||||||||||
| Operating expenses | ||||||||||||||||
| Selling, general and administrative expenses | (2,337,041 | ) | (1,809,114 | ) | (4,996,865 | ) | (3,758,130 | ) | ||||||||
| Development and regulatory approval expenses | (522,113 | ) | (506,944 | ) | (1,008,282 | ) | (1,455,696 | ) | ||||||||
| Depreciation and amortization | (281,896 | ) | (305,177 | ) | (585,274 | ) | (605,599 | ) | ||||||||
| Impairment of long-lived assets | (27,147 | ) | - | (288,927 | ) | - | ||||||||||
| Total operating expenses | (3,168,197 | ) | (2,621,235 | ) | (6,879,348 | ) | (5,819,425 | ) | ||||||||
| Loss from operations | (2,635,738 | ) | (2,264,482 | ) | (5,635,331 | ) | (4,989,743 | ) | ||||||||
| Other income (expense), net | ||||||||||||||||
| Interest expense | (56,209 | ) | (13,502 | ) | (60,112 | ) | (35,829 | ) | ||||||||
| Realized foreign exchange loss | - | (750 | ) | - | (801 | ) | ||||||||||
| Interest income | 5,334 | 21,937 | 13,838 | 74,777 | ||||||||||||
| Total other income (expense), net | (50,875 | ) | 7,685 | (46,274 | ) | 38,147 | ||||||||||
| Net loss | (2,686,613 | ) | (2,256,797 | ) | (5,681,605 | ) | (4,951,596 | ) | ||||||||
| Net loss attributable to non-controlling interest | (9,023 | ) | (7,327 | ) | (21,009 | ) | (16,493 | ) | ||||||||
| Net loss attributable to Intelligent Bio Solutions Inc. | $ | (2,677,590 | ) | $ | (2,249,470 | ) | $ | (5,660,596 | ) | $ | (4,935,103 | ) | ||||
| Other comprehensive income (loss) | ||||||||||||||||
| Foreign currency translation gain (loss) | 13,149 | (143,165 | ) | 61,865 | 73,190 | |||||||||||
| Total other comprehensive income (loss) | 13,149 | (143,165 | ) | 61,865 | 73,190 | |||||||||||
| Comprehensive loss | (2,673,464 | ) | (2,399,962 | ) | (5,619,740 | ) | (4,878,406 | ) | ||||||||
| Comprehensive loss attributable to non-controlling interest | (9,023 | ) | (7,327 | ) | (21,009 | ) | (16,493 | ) | ||||||||
| Comprehensive loss attributable to Intelligent Bio Solutions Inc. | $ | (2,664,441 | ) | $ | (2,392,635 | ) | $ | (5,598,731 | ) | $ | (4,861,913 | ) | ||||
| Net loss per share, basic and diluted* | $ | (2.82 | ) | $ | (4.96 | ) | $ | (6.27 | ) | $ | (11.82 | ) | ||||
| Weighted average shares outstanding,basic and diluted* | 950,829 | 453,582 | 902,761 | 417,345 | ||||||||||||
| * | Common stock and per share amounts have been retroactively adjusted to reflect a 1-for-10 reverse stock split effected on December 15, 2025, throughout the condensed consolidated financial statements unless otherwise stated. |
FAQ
What were Intelligent Bio Solutions (INBS) fiscal Q2 2026 revenue and growth rates?
How much revenue did INBS generate in the first half of fiscal 2026 and how did gross margin change?
What financing did Intelligent Bio Solutions (INBS) complete in early 2026 and how were proceeds used?
What drove INBS's revenue growth in fiscal Q2 2026?
What regulatory progress did INBS report toward U.S. market entry (INBS)?
What partnerships and contracts did Intelligent Bio Solutions announce in this update?
