aibioIntelligent Bio Solutions reports fiscal 2026 revenue of $4,215,175
Tickers INBS
Revenue rose 38% and gross margin reached 48.63%, and the company says its FDA 510(k) submission remains on track for the second half of calendar 2026.
Key facts
- Company
- INTELLIGENT BIO SOLUTIONS INC. (NASDAQ: INBS)
- News type
- Company Updates
- Primary source
- INTELLIGENT BIO SOLUTIONS INC. 8-K (2026-08-19)
Intelligent Bio Solutions Inc. (Nasdaq: INBS) reported financial results and operational highlights for the fiscal year ended June 30, 2026 in a release dated August 19, 2026. Total revenue was $4,215,175, up 38% from $3,052,532 in fiscal 2025. President and Chief Executive Officer Harry Simeonidis called it record annual revenue. In the release he says: "Fiscal 2026 was a year of clear, compounding progress across every aspect of our business."
Revenue and customers
The reader installed base reached 1,886 units as of June 30, 2026, up 22% from 1,545 units a year earlier. Total consumable cartridges reached 106,500 units, up 35% from 78,750 in fiscal 2025. The company had 502 active customers as of June 30, 2026. The release gives no revenue split by customer or country and no figure for how much comes from the Bouygues UK rollout.
The release links this growth to what it calls a razor and razorblade model. Hardware placements create the installed base, and consumable use generates recurring revenue. Commercial traction extended across construction, manufacturing, transport and logistics, and mining, with continued growth across the UK, Europe, APAC and the Middle East. The company also reports a strategic partnership with Bouygues UK, part of Bouygues Construction, for a drug testing rollout.
Gross margin and manufacturing
Gross profit was $2,049,994 for fiscal 2026, up 64% from $1,246,859. That gross profit is small beside the $12.4 million net loss reported in the annual report. Gross profit margin was 48.63%, up from 40.85%, an improvement of 778 basis points. Chief Financial Officer Spiro Sakiris attributes the change to a move to Syrma Johari as a lower-cost manufacturing partner, an optimized product mix weighted toward cartridge consumables, and higher volumes.
The release says initial production runs with Syrma Johari have been completed and shipments are underway. It describes the reader manufacturing transition as expected to support long-term margin improvement. It also says the company increased investment in customer support, which it links to higher consumables utilization.
Regulatory program
The release says the company completed all clinical data collection across its FDA 510(k) clinical study program. Analysis of the data is underway, so no results are reported, and no application has yet been filed. The company says it remains on track for its FDA submission in the second half of calendar 2026, which it describes as the path to planned entry into the U.S. market. A submission is not a clearance. The release gives no date for a decision, so U.S. sales remain a plan.
The release lists studies including a codeine detection cut-off study in 40 adults, a penetration test with no major vulnerabilities identified, a method comparison study, an interference study, a precision study covering more than 1,600 tests across three production runs and three testing sites, and a usability study. The company also reports an eighth European patent grant and the start of a validation study for a rapid drug screening cartridge targeting 70% faster results.
Financial position
The XBRL data in the annual report show a net loss of $12.4 million for fiscal 2026, compared with $10.6 million for fiscal 2025. Cash used in operations was $11.9 million in fiscal 2026, compared with $9.7 million in fiscal 2025.
Cash and cash equivalents were $4.0 million at June 30, 2026, compared with $1.0 million at June 30, 2025. The loss grew and cash used in operations rose, and the cash balance is below the $11.9 million used in the year. The release does not discuss funding. The annual report states that development of its biosensor platform has been postponed until licensing arrangements are finalized, a matter tied to the liquidation of a licensor company that began in July 2023.
What comes next
The company says its priorities for fiscal 2027 are sustaining operational improvements that drive gross margin expansion, continuing to accelerate commercial growth, and advancing the FDA regulatory program toward planned U.S. market entry. The release offers no revenue target for fiscal 2027.