Intelligent Bio Solutions (INBS) Q3 2025 earnings summary

Executive summary

• Revenue for the quarter ended March 31, 2025, was $728,867, up 20% sequentially but down year-over-year, mainly due to lower reader sales in the construction sector.

• Gross profit increased to $341,368, a 91% year-over-year rise, with gross margin up to 46.84%, driven by a higher proportion of high-margin cartridge sales and improved production efficiency.

• Net loss attributable to shareholders decreased to $2,543,526 for the quarter, reflecting improved margins, cost control, and increased government support income.

• The company secured 35 new accounts in the quarter, bringing total active customer accounts to over 450 in 24 countries, with international expansion in key markets.

• Significant achievements included a multilingual system upgrade, expansion into Spain and Andorra, and a new US patent grant.

Financial highlights

• Revenue for the nine months ended March 31, 2025, was $2,208,648, down from $2,383,957 year-over-year.

• Gross profit for the nine months rose to $911,282, up 49% year-over-year, with gross margin improving to 41.26% from 25.59%.

• Net loss for the nine months was $7,478,629, slightly higher than $7,372,512 in the prior year period, mainly due to increased R&D and regulatory expenses.

• Government support income increased to $433,039 for the nine months, up from $346,917.

• Cash and cash equivalents as of March 31, 2025, were $2,807,112, with working capital of $542,946 and shareholders' equity of $4.94 million.

Outlook and guidance

• Management anticipates continued operating losses and negative cash flows until regulatory approvals are achieved and revenue base expands.

• There is substantial doubt about the company’s ability to continue as a going concern without additional capital within the next 12 months.

• The company is actively seeking additional funding through equity offerings and other capital sources.

• Focus remains on scaling commercial footprint and international presence ahead of expected U.S. market entry.

• Multilingual upgrades and regulatory scoping in new regions support long-term expansion strategy.