Intelligent Bio Solutions Inc. Announces Preliminary Unaudited Fiscal Second Quarter and Six-Month Revenue Results
02 2월 2024 - 10:30PM
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 fiscal Second Quarter and six months
ended December 31, 2023. The Company expects approximate unaudited
revenue of $1.56 million for the six months ended December 31,
2023, representing a significant increase of 337% compared to the
same period the prior year, and approximate unaudited revenue of
$0.76 million for the second fiscal quarter ended December 31,
2023, representing an increase of 114% compared to the same period
the prior year.
Spiro Sakiris, Chief Financial Officer at
Intelligent Bio Solutions, commented, “Our Q2 and six-month results
are very encouraging, showing strong growth compared to 2022 as we
continued our focus on penetrating target markets.”
INBS further expects a 30% rise in cartridge
sales and a 91% rise in reader sales for the six months ended
December 31, 2023, compared to the six months ended December 31,
2022.
"Our product sales are steadily on the rise due
to a growing awareness of our drug screening solution, entry into
new markets and expansion of our global footprint. Last year, we
expanded into New Zealand, and we anticipate further market
expansion throughout Asia-Pacific this year,” said Harry
Simeonidis, President and Chief Executive Officer at Intelligent
Bio Solutions. “Our revenue growth numbers are indicative of an
increasing need for an efficient drug screening solution that
reduces risk, saves costs, and promotes productivity. We aim to
maintain this upward trajectory throughout 2024.”
The preliminary unaudited revenue results for
the fiscal second quarter and the six months ended December 31,
2023, 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 second quarter and six months ended December
31, 2023, in its upcoming Quarterly Report on Form 10-Q, expected
to be filed with the Securities and Exchange Commission during the
week commencing February 5, 2024.
About Intelligent Bio Solutions
Inc.
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
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. Additionally, the Company's biosensor
platform has the potential to test for up to 130 indications,
ranging from glucose to immunological conditions and communicable
diseases. The Company's current customer segments 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.incLinkedIn | Twitter
Media Contact:
Cheryl BillsonComma
Communicationscheryl.billson@commacomms.com+44 (0)7791 720460
Intelligent Bio Solutions (NASDAQ:INBS)
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