Intelligent Bio Solutions Reports Record Revenue and FDA Submission
News related to:Intelligent Bio Solutions Inc · 2 min read
NEW YORK, Nov. 10, 2026 /CourierPR/ -- Intelligent Bio Solutions Inc., a medical technology company delivering rapid, non-invasive testing solutions, reported record-breaking revenue for its fiscal first quarter ended September 30, 2026. The company achieved a total revenue of $1.39 million, marking a 25% year-over-year increase and a 21% sequential growth. This performance surpassed the previous quarterly record of $1.1458 million set in the fourth quarter of fiscal 2026.
Higher-margin cartridge sales were a key driver of this growth, accounting for 61% of the total revenue. These sales increased by 32% year-over-year and 35% sequentially, significantly contributing to the company's overall financial performance. Other sales, representing 20% of the quarter's revenue, also saw a 52% year-over-year increase.
The company's gross profit margin expanded to 54.5%, up from 46.6% in the same period the year prior. This improvement reflects manufacturing efficiencies and a growing share of higher-margin cartridge sales, which now account for 73% of the year-over-year revenue increase.
In a significant regulatory milestone, Intelligent Bio Solutions submitted its FDA 510(k) premarket notification during the quarter, seeking clearance for the Intelligent Fingerprinting Drug Screening System. This submission includes a method comparison study demonstrating accuracy above 98%, sensitivity above 94%, and 100% specificity across three independent U.S. clinical sites.
The company's financial health also improved, with cash and cash equivalents reaching $5.93 million as of September 30, 2026, compared to $3.99 million at the end of the previous quarter. This growth in revenue and cash reserves positions the company well for future expansion and regulatory approval.
As of September 30, 2026, Intelligent Bio Solutions had 516 active customer accounts, including 27 new accounts added during the quarter, with a reader installed base of 1,978 units. The company's Intelligent Fingerprinting Drug Screening Solution is designed to revolutionize portable testing through fingerprint sweat analysis, addressing the needs of various customer segments, including workplace, law enforcement, and government settings.
With its 510(k) submission complete and record quarterly revenue, Intelligent Bio Solutions Inc. is well-positioned to continue its growth trajectory as it pursues entry into the multi-billion-dollar U.S. drug screening market.