INBS · Intelligent Bio Solutions Inc.

Intelligent Bio Solutions delivered strong top-line growth and operational progress in Q3 FY2026, with revenue rising 46% year-over-year to $1.06 million — driven primarily by a 59% increase in cartridge sales, which now constitute 66% of quarterly revenue. This shift underscores successful execution of the company’s razor-razorblade model, where prior reader placements are generating recurring, high-margin consumable demand. Gross margin expanded to 50.5%, up 370 basis points year-over-year, marking the first time the company crossed the 50% threshold — a milestone attributed to both product mix (higher cartridge contribution) and operational efficiencies from its new manufacturing partnership. While net loss widened slightly to $2.87 million (from $2.55 million), the loss per share improved significantly to ($1.80) versus ($4.41) a year ago due to the December 2025 1-for-10 reverse stock split, which reduced share count. The nine-month financials reinforce momentum: $3.07 million in revenue (+39% YoY), gross margin of 49.3% (+800 bps YoY), and $14.67 million in net capital raised — all supported by a $1.77 million marketing investment that yielded accelerating returns, evidenced by a 42% YoY reduction in Q3 marketing spend amid continued commercial acceleration. Management highlighted key catalysts including FDA 510(k) advancement, the Bouygues UK rollout, and eighth European patent grant — collectively strengthening the foundation for U.S. market entry and long-term scalability. With cash at $6.86 million and no debt, the company remains well-funded to execute its regulatory and commercial roadmap.