Intelligent Bio Solutions Inc. (NASDAQ: INBS) published its preliminary unaudited selected financial information on February 6, 2025. The company announced a press release detailing its financial performance for the fiscal quarter ending December 31, 2024.
The financial highlights as per the press release are as follows:
– Unaudited revenue of $0.61 million for the fiscal second quarter and $1.48 million for the six months ended December 31, 2024.
– Gross profit is anticipated to increase by 32.6% to $0.57 million for the six months ended December 31, 2024.
– Gross profit margin is expected to rise to 38.5% from 27.7% for the six months ended December 31, 2024.
– The growth in gross profit and gross profit margin is attributed to the company’s focus on higher-margin cartridge sales.
In addition to financial performance, Intelligent Bio Solutions made significant progress during the fiscal second quarter. Key achievements include the submission of a 510(k) premarket notification to the FDA for its Intelligent Fingerprinting Drug Screening System and the establishment of strategic partnerships aimed at expanding market reach both in the U.S. and internationally.
The unaudited financial results are subject to potential adjustments based on the completion of the company’s quarter-end financial closing procedures. The official financial results for the fiscal second quarter ended December 31, 2024, are expected to be disclosed in Intelligent Bio Solutions’ upcoming Quarterly Report on Form 10-Q, scheduled for filing with the Securities and Exchange Commission during the week beginning February 10, 2025.
Intelligent Bio Solutions Inc. is a medical technology company focused on delivering innovative, rapid, and non-invasive testing solutions. The company is known for its Intelligent Fingerprinting Drug Screening System, designed to provide quick and hygienic testing for drug use, primarily targeting safety-critical industries.
For more information about Intelligent Bio Solutions Inc. and its products, visit http://www.ibs.inc/.
This article contains forward-looking statements regarding Intelligent Bio Solutions’ business strategies and commercial prospects. The company advises that these projections may differ from actual results due to various factors. Intelligent Bio Solutions Inc. commits to updating any forward-looking statements to reflect significant events or occurrences post their initial release.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read GBS’s 8K filing here.
About GBS
GBS Inc operates as a biosensor diagnostic technology company in the Asia-Pacific and North America. It offers Saliva Glucose Biosensor, an organic thin-film transistor for diabetes management that measures glucose in saliva. The company also focuses on developing SARS-CoV-2 Biosensor, a biosensor test can be used as a complement to the (RNA) virus detection test; and a biosensor platform comprising of biochemistry, immunology, tumor markers, hormones, and nucleic acid diagnostic modalities.
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