Intelligent Bio Solutions Q1 FY2024 revenue up 191% to $0.91M; net loss widens to $2.4M

INTELLIGENT BIO SOLUTIONS INC.

2024-Q1 EPS reported -$1.04 vs consensus -$8.87 ▲ beat (+88.3%)

Revenue + government support income of $0.91M vs $0 in year-ago quarter; sales of goods $0.8M from IFP acquisition.
Net loss attributable to INBS of $2.4M vs $1.2M; driven by IFP combined results offset by $131,250 fair value gain.
Cash and equivalents $0.2M as of Sep 30; raised ~$4.378M ($3.35M net) in October 2023 public offering.
Expanded into New Zealand and South America (TSCOM SPA distribution deal); added eight new Australian customers.
Completed development milestone for ketamine and tramadol assays; ISO 13485:2016 recertified.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

INTELLIGENT BIO SOLUTIONS INC. reported fiscal first quarter ended September 30, 2023 results: revenue combined revenue and government support income increased by 191% to $0.91 million, net income Net loss attributable to INBS for the first fiscal quarter ended September 30, 2023 was $2.4 million.

Period: fiscal first quarter ended September 30, 2023
Revenue: combined revenue and government support income increased by 191% to $0.91 million
Net income: Net loss attributable to INBS for the first fiscal quarter ended September 30, 2023 was $2.4 million
Result: reported results

Exact text from the filing

The Company’s combined revenue and government support income increased by 191% to $0.91 million for the first fiscal quarter ended September 30, 2023, including revenue from sales of goods of $0.8 million, compared to $0 in the first fiscal quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0001493152-23-039953

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