Intelligent Bio Solutions acquires IFP, reports Q1 net loss of $1.21M, cash $5.74M

INTELLIGENT BIO SOLUTIONS INC.

2024-Q1 EPS reported -$1.62 vs consensus -$8.87 ▲ beat (+81.7%)

Acquired Intelligent Fingerprinting Limited (IFP) for its sweat-based fingerprint drug screening technology.
Net loss $1.21M ($0.08 per share) vs $1.43M ($0.10) prior year; cash $5.74M as of Sept 30, 2022.
New customer wins: Goldstar Transport, Eastern Airways, and Glass Systems Group adopted IFP drug test.
Board additions: David Jenkins (CEO of Catheter Precision) and Jason Isenberg appointed in October.
Cash runway expected into first half of calendar 2023; excludes potential new market revenue.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

INTELLIGENT BIO SOLUTIONS INC. reported preliminary financial results for first financial quarter ended September 30, 2022.

Period: first financial quarter ended September 30, 2022
Result: preliminary results

Exact text from the filing

On November 9, 2022, Intelligent Bio Solutions Inc. (the “Company”), issued a press release (the “Press Release”) announcing financial results for the three months ended September 30, 2022.

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Source: SEC EDGAR

accession 0001493152-22-031105

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