Intelligent Bio Solutions Announces Preliminary Unaudited Fiscal 2025 First Quarter Revenue Results
Intelligent Bio Solutions (INBS) reported preliminary unaudited Q1 FY2025 revenue of $0.87 million, showing a 10% year-on-year and 20% quarter-on-quarter growth. The company's Intelligent Fingerprinting Drug Screening System's cartridge sales are expected to become the primary revenue driver, offering higher profit margins than reader sales. With over 400 active customer accounts, INBS is experiencing growing recurring revenue. Global sales are projected to increase by 15% year-on-year, supported by expanded distribution in Saudi Arabia. Final Q1 results will be released in November 2024.
Intelligent Bio Solutions (INBS) ha riportato un fatturato preliminare non verificato per il primo trimestre dell'anno fiscale 2025 di $0,87 milioni, mostrando una crescita del 10% rispetto all'anno precedente e del 20% rispetto al trimestre precedente. Si prevede che le vendite dei caricamenti del sistema di screening della droga Intelligent Fingerprinting diventino il principale motore di fatturato, offrendo margini di profitto più elevati rispetto alle vendite dei lettori. Con oltre 400 account clienti attivi, INBS sta vivendo una crescente entrata ricorrente. Si prevede che le vendite globali aumentino del 15% rispetto all'anno precedente, supportate da un'espansione della distribuzione in Arabia Saudita. I risultati finali del primo trimestre saranno pubblicati a novembre 2024.
Intelligent Bio Solutions (INBS) reportó unos ingresos preliminares no auditados para el primer trimestre del año fiscal 2025 de $0.87 millones, mostrando un crecimiento del 10% interanual y un 20% trimestral. Se espera que las ventas de cartuchos del Sistema de Detección de Droga Intelligent Fingerprinting se conviertan en el principal generador de ingresos, ofreciendo márgenes de lucro más altos que las ventas de lectores. Con más de 400 cuentas de clientes activas, INBS está experimentando un crecimiento en los ingresos recurrentes. Se proyecta que las ventas globales aumenten un 15% interanual, respaldadas por una expansión en la distribución en Arabia Saudita. Los resultados finales del primer trimestre se publicarán en noviembre de 2024.
인텔리전트 바이오 솔루션즈 (INBS)는 2025 회계연도 1분기 예비 감사 전 수익을 $0.87 백만으로 보고했으며, 이는 전년 대비 10% 및 전 분기 대비 20% 성장률을 나타냅니다. 회사의 인텔리전트 핑거프린팅 약물 스크리닝 시스템의 카트리지 판매가 주요 수익원이 될 것으로 예상되며, 이는 리더기 판매보다 더 높은 이익률을 제공합니다. 400개 이상의 활성 고객 계정을 보유하고 있는 INBS는 반복 수익이 증가하고 있습니다. 글로벌 판매는 전년 대비 15% 증가할 것으로 예상되며, 이는 사우디아라비아에서의 유통 확대에 의해 지원됩니다. 최종 1분기 결과는 2024년 11월에 발표될 예정입니다.
Intelligent Bio Solutions (INBS) a rapporté un chiffre d'affaires préliminaire non audité de $0,87 million pour le premier trimestre de l'exercice 2025, montrant une croissance de 10% par rapport à l'année précédente et de 20% par rapport au trimestre précédent. On s'attend à ce que les ventes de cartouches du système de dépistage de drogue Intelligent Fingerprinting deviennent le principal moteur de revenus, offrant des marges bénéficiaires plus élevées que les ventes de lecteurs. Avec plus de 400 comptes clients actifs, INBS connaît une augmentation des revenus récurrents. Les ventes mondiales devraient augmenter de 15% par rapport à l'année précédente, soutenues par une distribution élargie en Arabie Saoudite. Les résultats finaux du premier trimestre seront publiés en novembre 2024.
Intelligent Bio Solutions (INBS) berichtete über einen vorläufigen, nicht prüfungsbedürftigen Umsatz von $0,87 Millionen für das erste Quartal des Geschäftsjahres 2025, was ein 10%iger Anstieg im Vergleich zum Vorjahr und ein 20%iger Anstieg im Vergleich zum Vorquartal zeigt. Es wird erwartet, dass die Verkaufszahlen der Kartuschen des Intelligent Fingerprinting Drug Screening Systems die Hauptumsatzquelle werden und höhere Gewinnmargen als die Verkäufe der Lesegeräte bieten. Mit über 400 aktiven Kundenkonten verzeichnet INBS ein wachsendes wiederkehrendes Einkommen. Die globalen Verkäufe werden voraussichtlich um 15% im Vergleich zum Vorjahr steigen, unterstützt durch eine erweiterte Distribution in Saudi-Arabien. Die endgültigen Ergebnisse des ersten Quartals werden im November 2024 veröffentlicht.
- Revenue growth of 10% YoY and 20% QoQ to $0.87 million
- Expected increase in gross profit margins from higher-margin cartridge sales
- Strong customer base with over 400 active accounts
- Projected 15% year-on-year increase in global sales
- Expanded distribution network in Saudi Arabia
- Financial results are preliminary and subject to adjustments
Insights
The preliminary Q1 FY2025 results show promising growth trends with
The
Unaudited quarterly revenue increased
Higher-margin, recurring cartridge revenue expected to surpass reader revenue as primary driver
Expanded distribution network in Saudi Arabia
NEW YORK, Oct. 29, 2024 (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 preliminary unaudited revenue results for the fiscal first quarter ended September 30, 2024.
The Company expects unaudited revenue of approximately
The Company's efforts to maximize recurring revenue from the sale of cartridges used in its Intelligent Fingerprinting Drug Screening System are expected to result in cartridges surpassing readers as the primary revenue driver in the future. Cartridges represent a key source of recurring revenue for the business and carry a higher profit margin than readers. As this trend continues, INBS anticipates an increase in gross profit margins, contributing to long-term financial stability and growth.
The Company’s Intelligent Fingerprinting Drug Screening System, which consists of a proprietary portable platform that analyzes fingerprint sweat using single-use cartridges and a portable handheld reader, is designed as a hygienic and cost-effective system that screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis.
"While we are pleased with another quarter of year-on-year and sequential revenue growth, it is important to note that now, with our readers in the market and over 400 active customer accounts, we are beginning to yield the benefits of higher-margin, recurring revenue from the sale of cartridges. This shift shows a growing confidence in the dependability and quality of our products amongst our strong and growing customer base," said Harry Simeonidis, President and CEO at Intelligent Bio Solutions. "Customer loyalty and advocacy of our products is driving a steady recurring revenue stream and boosting our profit margins."
Throughout the first fiscal quarter, the Company concentrated on strategic geographical expansion, with global sales expected to increase by
The preliminary unaudited revenue results for the fiscal first quarter and the three months ended September 30, 2024, are based on information available to management as of the date of this press release and are, therefore, subject to adjustments based on the Company's completion of its quarter-end financial close process. The Company expects to disclose financial results for the fiscal first quarter ended September 30, 2024, in its upcoming Quarterly Report on Form 10-Q, expected to be filed with the Securities and Exchange Commission during the week commencing November 4, 2024.
About Intelligent Bio Solutions
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering innovative, 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 US include construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners.
For more information, visit http://www.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, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, Intelligent Bio Solutions Inc.’s ability to successfully develop and commercialize its drug and diagnostic tests, realize commercial benefit from its partnerships and collaborations, and secure regulatory 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, expectations may prove to have been materially different from the results expressed or implied by such forward-looking 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,” “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, included in Intelligent Bio Solutions’ public filings filed with the Securities and Exchange Commission. Any forward-looking statements contained in this release speak only as of its date. 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
LinkedIn | Twitter
Investor & Media Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
PH: (212) 896-1254
INBS@kcsa.com
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