Intelligent Bio Solutions Inc. reported record quarterly revenue of $1.11 million, up 32% sequentially and 28% year-over-year. Gross profit margins increased by 690 basis points to 46.6%, driven by higher margin cartridge sales and operational efficiency improvements. The company acquired 33 new customer accounts, bringing the total to 492 across 24+ countries.

The company’s strong financial performance was fueled by accelerating cartridge sales, significant customer acquisition, and strategic partnerships. Cartridge sales accounted for 57.59% of total revenue, up from 51.1% in the previous year. Revenue for the fiscal first quarter of 2026 totaled $1,111,797, representing a 32% increase sequentially and a 28% increase year-over-year.

Intelligent Bio Solutions Inc. secured a major contract with a London public transport operator, expanded its product portfolio with the SmarTest Patch, and established a global distribution agreement with SMARTOX. The company’s international expansion and focus on consumable cartridge sales position it for sustained growth and revenue diversification in fiscal 2026.

With its Intelligent Fingerprinting Drug Screening System, Intelligent Bio Solutions Inc. aims to revolutionize portable testing through fingerprint sweat analysis. The system screens for drugs commonly found in the workplace with results in under ten minutes. The company’s technology addresses key pain points in drug screening, positioning it for growth in non-invasive, rapid drug testing solutions.

Read more at GlobeNewswire: Intelligent Bio Solutions Reports Fiscal 2026 First Quarter