Intelligent Bio Solutions reports 2023 EPS ($10.58) vs. ($11.33) last year

Reports 2023 revenue $1.3M vs. $0 last year. “In the 2023 fiscal year, we maintained rapid expansion of our customer footprint, successfully entering the Australian market with accelerated uptake,” said Harry Simeonidis, President and Chief Executive Officer of Intelligent Bio Solutions. “Our year-over-year revenue growth represents the rising demand for, and adoption of, our innovative drug screening solution. We are confident that our Intelligent Fingerprinting Drug Screening System will set a new benchmark for drug testing procedures with its rapid collection time, portability and efficiency while prioritizing employee dignity and privacy. Receiving the FDA’s guidance on a regulatory pathway for our Intelligent Fingerprinting Drug Screening Cartridge in the fourth quarter was a pivotal step toward our expansion into the U.S. market. We were also pleased to extend our market presence into South America and scale our reach throughout the Asia-Pacific region with the addition of our sales team in Australia. In addition, we further strengthened the protection of our unique and proprietary drug screening technology with the award of our 13th patent. Given our considerable progress to date, we believe INBS is well-placed to continue its growth over the next fiscal year,” concluded Mr. Simeonidis.