Intelligent Bio Solutions (INBS) Q2 2026 earnings summary

Executive summary

• Revenue for the quarter ended December 31, 2025, increased 48% year-over-year to $896,774, with first-half revenue up 36% to $2,008,571, driven by new customer additions and higher re-order rates for consumables.

• Reader sales surged 104% year-over-year in Q2, expanding the installed base and supporting recurring revenue.

• Cartridge sales rose 33% year-over-year in Q2, confirming active system usage and consumable reorders.

• Gross profit rose to $459,739 for Q2, with gross margin improving to 48.69% for the quarter and 49% for the first half, reflecting operational efficiencies and favorable sales mix.

• Major achievements included a strategic manufacturing partnership expected to reduce production costs by over 40%, a new alliance to enter the consumer health monitoring market, and a significant UK contract.

Financial highlights

• Six-month revenue increased to $2,008,571 from $1,479,781 year-over-year.

• Q2 reader sales: $246,519 (up 104%); cartridge sales: $516,754 (up 33%); other sales: $133,501 (up 36%).

• Gross profit for Q2: $459,739; for six months: $978,030, with gross margin at 48.69% for the quarter and 49% for the first half.

• Net loss for Q2: $2,677,590; for six months: $5,660,000.

• Cash and cash equivalents at quarter-end were $740,371, with current assets of $12.17 million, including $9.40 million receivable from a private placement.

Outlook and guidance

• Management expects continued revenue growth as new markets are entered and customer base expands.

• Advancing regulatory pathway for planned U.S. market entry, with additional clinical studies initiated for FDA 510(k) submission.

• Gross margin improvement is targeted through further operational efficiencies and strategic sales mix.

• Development and regulatory expenses are expected to rise as efforts to support FDA 510(k) submission intensify.

• The company anticipates ongoing operating losses and will require additional funding within the next 12 months to support operations.