Intelligent Bio Solutions Inc. Achieves Major Milestone with Over 1,000 Installed Intelligent Fingerprinting Drug Screening Readers as of June 30, 2024
Intelligent Bio Solutions Inc. (NASDAQ: INBS) has reached a significant milestone with over 1,000 installed Intelligent Fingerprinting Drug Screening Readers as of June 30, 2024. The company sold 407 readers in the fiscal year 2024, a 26% increase from the previous year. The total number of installed readers reached 1,037, a 65% increase from June 30, 2023.
INBS also reported a 20% year-over-year increase in cartridge sales, from 67,575 in 2023 to 81,075 in 2024. The Intelligent Fingerprinting Drug Screening System offers quick and reliable drug detection within 10 minutes, using sweat from fingerprints. The company is making progress towards FDA clearance, with the FDA provisionally determining the cartridges as a Class II device requiring a pre-market notification 510(k).
Intelligent Bio Solutions Inc. (NASDAQ: INBS) ha raggiunto un traguardo significativo con oltre 1.000 lettori per screening di droga con impronte digitali installati al 30 giugno 2024. L'azienda ha venduto 407 lettori nell'anno fiscale 2024, con un aumento del 26% rispetto all'anno precedente. Il numero totale di lettori installati ha raggiunto 1.037, un aumento del 65% rispetto al 30 giugno 2023.
INBS ha inoltre riportato un aumento del 20% nelle vendite di cartucce rispetto all'anno precedente, passando da 67.575 nel 2023 a 81.075 nel 2024. Il Sistema di Screening per Droga con Impronte Digitali offre una rilevazione rapida e affidabile della droga in 10 minuti, utilizzando il sudore dalle impronte digitali. L'azienda sta facendo progressi verso l'approvazione FDA, con l'agenzia che ha provvisoriamente classificato le cartucce come dispositivo di Classe II, che richiede una notifica pre-commerciale 510(k).
Intelligent Bio Solutions Inc. (NASDAQ: INBS) ha alcanzado un hito significativo con más de 1,000 lectores de detección de drogas por huellas digitales instalados al 30 de junio de 2024. La empresa vendió 407 lectores en el año fiscal 2024, lo que representa un aumento del 26% respecto al año anterior. El número total de lectores instalados alcanzó 1,037, un aumento del 65% desde el 30 de junio de 2023.
INBS también informó un aumento del 20% en las ventas de cartuchos, pasando de 67,575 en 2023 a 81,075 en 2024. El Sistema de Detección de Drogas por Huellas Digitales ofrece una detección rápida y confiable de drogas en 10 minutos, utilizando sudor de las huellas dactilares. La compañía está avanzando hacia la aprobación de la FDA, con la FDA determinando provisionalmente que los cartuchos son un dispositivo de Clase II que requiere una notificación previa al mercado 510(k).
Intelligent Bio Solutions Inc. (NASDAQ: INBS)는 2024년 6월 30일 기준으로 1,000개 이상의 지문 약물 검출 리더기 설치라는 중요한 이정표에 도달했습니다. 회사는 2024 회계연도에 407개의 리더기를 판매했으며, 이는 전년대비 26% 증가한 수치입니다. 설치된 리더기의 총 수는 1,037개로, 전년 2023년 6월 30일 대비 65% 증가했습니다.
INBS는 또한 카트리지 판매가 전년 대비 20% 증가했다고 밝혔습니다. 2023년 67,575개에서 2024년 81,075개로 증가했습니다. 지문에서 땀을 이용하여 10분 이내에 약물 검출이 가능한 지문 약물 검출 시스템이 제공됩니다. 회사는 FDA 승인을 위한 진행 상황을 보고하고 있으며, FDA는 카트리지를 사전 시장 통지 510(k)를 요구하는 Class II 장치로 잠정적으로 분류했습니다.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) a atteint un jalon important avec plus de 1.000 lecteurs de dépistage de drogues par empreintes digitales installés au 30 juin 2024. L'entreprise a vendu 407 lecteurs au cours de l'exercice fiscal 2024, soit une augmentation de 26 % par rapport à l'année précédente. Le nombre total de lecteurs installés a atteint 1.037, soit une augmentation de 65 % par rapport au 30 juin 2023.
INBS a également rapporté une augmentation de 20 % des ventes de cartouches, passant de 67.575 en 2023 à 81.075 en 2024. Le système de dépistage des drogues par empreintes digitales offre une détection rapide et fiable des drogues en 10 minutes, en utilisant la sueur des empreintes digitales. L'entreprise progresse vers l'approbation de la FDA, la FDA ayant provisoirement classé les cartouches comme un dispositif de classe II nécessitant une notification préalable au marché 510(k).
Intelligent Bio Solutions Inc. (NASDAQ: INBS) hat einen bedeutenden Meilenstein erreicht mit über 1.000 installierten Lesegeräten für Drogenscreening durch Fingerabdrücke zum 30. Juni 2024. Das Unternehmen hat 407 Lesegeräte im Geschäftsjahr 2024 verkauft, was einem Anstieg von 26% gegenüber dem Vorjahr entspricht. Die Gesamtzahl der installierten Lesegeräte erreichte 1.037, ein Anstieg von 65% seit dem 30. Juni 2023.
INBS berichtete auch von einem 20%igen Anstieg der Kartuschenverkäufe, von 67.575 im Jahr 2023 auf 81.075 im Jahr 2024. Das Drogenscreening-System mit Fingerabdrücken bietet eine schnelle und zuverlässige Drogenerkennung innerhalb von 10 Minuten, wobei Schweiß aus Fingerabdrücken verwendet wird. Das Unternehmen macht Fortschritte in Richtung FDA-Zulassung, wobei die FDA die Kartuschen vorläufig als Klasse-II-Gerät klassifiziert hat, das eine Vorabbenachrichtigung 510(k) erfordert.
- 26% increase in reader sales from 323 to 407 in fiscal year 2024
- 65% increase in total installed readers from 630 to 1,037
- 20% year-over-year increase in cartridge sales from 67,575 to 81,075
- Progress towards FDA clearance with provisional Class II device determination
- None.
Insights
The installation of over 1,000 Intelligent Fingerprinting Drug Screening Readers marks a significant milestone for INBS, reflecting strong market traction. The
INBS's Intelligent Fingerprinting Drug Screening System represents a paradigm shift in drug testing. Its non-invasive nature and rapid 10-minute results address key pain points in workplace drug screening. The 16-hour detection window is particularly noteworthy, offering a unique advantage over traditional urine or blood tests. This technology could potentially revolutionize workplace safety protocols, especially in industries where regular testing is crucial. The FDA's provisional classification as a Class II device suggests a moderate level of regulatory scrutiny, which could expedite the approval process compared to higher-risk devices. This progress towards FDA clearance is a critical step for INBS to expand its market reach and solidify its position in the competitive drug screening industry.
The rapid adoption of INBS's drug screening technology indicates a growing market demand for non-invasive, quick-result testing solutions. This trend aligns with broader shifts towards more efficient and employee-friendly workplace policies. The international expansion potential mentioned suggests untapped markets that could drive future growth. However, the company may face challenges from established players in the drug testing industry and potential new entrants with similar technologies. INBS's success will likely depend on its ability to maintain technological superiority, secure key partnerships and navigate regulatory landscapes across different regions. Investors should watch for any announcements regarding strategic alliances or further geographical expansion, which could significantly impact the company's market position and valuation.
NEW YORK, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Intelligent Bio Solutions Inc. (NASDAQ: INBS) (“INBS” or the “Company”), a leading innovator in non-invasive drug testing technology, today announced the installation of over 1,000 Intelligent Fingerprinting Drug Screening Readers with customers as of June 30, 2024. This achievement marks a significant milestone for INBS, underscoring the growing demand for the Company’s advanced drug screening technology.
In the fiscal year ending June 30, 2024, the Company sold 407 readers, a
The Intelligent Fingerprinting Drug Screening System, consisting of a DSR-Plus portable analysis unit and tamper-proof cartridges, is designed to offer quick and reliable drug detection using lateral flow assay technology and fluorescence-labelled antibodies to analyze sweat from fingerprints. With results available within 10 minutes and a unique 16-hour detection window for drug use, the Intelligent Fingerprinting Drug Screening System is an ideal solution for workplace screening.
Harry Simeonidis, President and CEO at INBS, commented, "Our growth remains strong as we continue to increase the number of new reader and cartridge sales year on year. Reaching over 1,000 installed readers is a major milestone that demonstrates an increasing awareness of and demand for our non-invasive drug screening system. As we expand, we remain committed to supporting our loyal and growing customer base as they proactively tackle common workplace issues associated with drug use.”
The Company has also seen significant growth in cartridge sales, with a
About Intelligent Bio Solutions Inc.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is dedicated to pioneering non-invasive medical technology solutions. Our mission is to deliver innovative, reliable, and user-friendly products that enhance drug testing and screening processes, ultimately contributing to safer and healthier workplaces.
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
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Investor & Media Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
PH: (212) 896-1254
INBS@kcsa.com
FAQ
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