The company maintains a precarious capital structure with a debt-to-equity ratio of 0.21 as of 2026Q3, while total equity has eroded from $11.1M in 2024Q3 to $9.0M in 2026Q3.
| Total Current Assets | 9.75M | 4.14M | 8.53M | 3.86M | 10.87M | 18.21M | 476.33K | 2.33M | 2.5M | 667.23K |
| Cash & Short-Term Investments | 6.86M | 1.02M | 6.3M | 1.54M | 8.28M | 12.57M | 427.27K | 197.94K | 418.42K | 56.03K |
| Cash Only | 6.86M | 1.02M | 6.3M | 1.54M | 8.24M | 12.57M | 427.27K | 197.94K | 418.42K | 56.03K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 46.6K | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 878.36K | 1.6M | 978.35K | 833.16K | 1.53M | 2.1M | 19.59K | 94.5K | 36.48K | 0 |
| Days Sales Outstanding | 337.72 | 191.21 | 114.76 | 241.95 | - | 386.82 | 37.89 | - | - | - |
| Inventory | 597.47K | 635.22K | 777.54K | 979.91K | 0 | 0 | 0 | 1.98M | 2.03M | 0 |
| Days Inventory Outstanding | 84.15 | 128.4 | 168.31 | 384.5 | - | - | - | - | - | - |
| Other Current Assets | 1.41M | 394.66K | 111.19K | 34.1K | 936.68K | 3.21M | 0 | 0 | 2M | 611.19K |
| Total Non-Current Assets | 5.11M | 4.11M | 5.24M | 6.49M | 1.48M | 3.65M | 2M | 1.98M | 1.98M | 611.19K |
| Property, Plant & Equipment | 2.11M | 320.85K | 872.59K | 1.24M | 391.41K | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | 2.33x | 9.51x | 3.57x | 1.02x | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3M | 3.79M | 4.37M | 5.26M | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 135.69K | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 1.09M | 3.65M | 1.86M | 1.98M | 1.98M | 611.19K |
| Total Assets | 14.86M | 8.25M | 13.78M | 10.35M | 12.35M | 21.86M | 2.48M | 2.33M | 2.5M | 667.23K |
| Asset Turnover | 0.31x | 0.37x | 0.23x | 0.12x | - | 0.09x | 0.08x | - | - | - |
| Asset Growth % | 91.08% | -40.13% | 33.07% | -16.17% | -43.49% | 782.98% | 6.34% | -6.73% | 274.07% | - |
| Total Current Liabilities | 4.61M | 5.35M | 5.45M | 5.88M | 4.66M | 3.68M | 7.69M | 6.31M | 5.56M | 6.58M |
| Accounts Payable | 3.64M | 897.26K | 602.34K | 1.2M | 715.9K | 1.36M | 483.58K | 849.72K | 167.47K | 339.17K |
| Days Payables Outstanding | 438.96 | 181.37 | 130.39 | 469.38 | - | - | - | - | - | - |
| Short-Term Debt | 388.75K | 197.15K | 790.12K | 576.66K | 0 | 0 | 5.13M | 5.13M | 4.84M | 3.53M |
| Deferred Revenue (Current) | 2.17M | 2.17M | 2.49M | 2.34M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 586.64K | 534.99K | 332.34K | 1.19M | 2.84M | 2.1M | 1.83M | 50.41K | 466.27K | 2.71M |
| Current Ratio | 2.11x | 0.77x | 1.57x | 0.66x | 2.33x | 4.94x | 0.06x | 0.37x | 0.45x | 0.10x |
| Quick Ratio | 1.98x | 0.65x | 1.42x | 0.49x | 2.33x | 4.94x | 0.06x | 0.05x | 0.08x | 0.10x |
| Cash Conversion Cycle | -17.09 | 138.24 | 152.68 | 157.07 | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.5M | 84.92K | 144.94K | 783.93K | 1.14M | 3.17M | 0 | 0 | 5.01M | 3.87M |
| Long-Term Debt | 1.46M | 0 | 0 | 759.03K | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 2.98M | 0 | 81.32K | 356.17K | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 40.7K | 84.92K | 63.62K | -331.26K | 1.14M | 3.17M | 0 | 0 | 0 | 0 |
| Total Liabilities | 6.11M | 5.44M | 5.6M | 6.67M | 5.81M | 6.85M | 7.69M | 6.31M | 5.56M | 6.58M |
| Total Debt | 1.85M | 281.81K | 1.15M | 1.92M | 0 | 0 | 5.13M | 5.13M | 4.84M | 3.53M |
| Net Debt | -5.01M | -738.1K | -5.16M | 378.05K | -8.24M | -12.57M | 4.71M | 4.93M | 4.42M | 3.48M |
| Debt / Equity | 0.21x | 0.10x | 0.14x | 0.52x | - | - | - | - | - | - |
| Debt / EBITDA | -0.17x | - | - | - | - | - | - | - | - | 224.77x |
| Net Debt / EBITDA | 0.47x | - | - | - | - | - | - | - | - | 221.21x |
| Interest Coverage | -158.06x | -171.20x | -61.52x | -46.71x | -1104.45x | -4.77x | -5.69x | -10.12x | -10.14x | - |
| Total Equity | 8.75M | 2.81M | 8.18M | 3.69M | 6.55M | 15.01M | -5.21M | -3.98M | -3.06M | -5.91M |
| Equity Growth % | 112.35% | -65.61% | 121.95% | -43.67% | -56.38% | 387.77% | -31.12% | -29.82% | 48.18% | - |
| Book Value per Share | 5.49 | 5.34 | 25.69 | 18.35 | 89.27 | 288.18 | -73.53 | -65.85 | -50.73 | -97.90 |
| Total Shareholders' Equity | 8.96M | 3M | 8.33M | 3.8M | 6.62M | 15.06M | -5.19M | -4.62M | -4.38M | -5.91M |
| Common Stock | 20.01K | 73.23K | 34.56K | 23.3K | 7.45K | 135.82K | 86.3K | 1.95M | 0 | 0 |
| Retained Earnings | -71.06M | -62.53M | -51.96M | -41.81M | -31.18M | -22.87M | -15.83M | -12.67M | -5.33M | -311.67K |
| Treasury Stock | 0 | 0 | 0 | -14 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -499.71K | -327.94K | -712.61K | -575.5K | -788.13K | -661.26K | -363.95K | -216.87K | 571.11K | 2.72K |
| Minority Interest | -210.25K | -182.31K | -146.16K | -111.99K | -79.15K | -51.23K | -28.31K | 637.92K | 1.31M | 0 |
Imminent liquidity and dilution
According to recent SEC filings, INBS has seen its equity base fluctuate significantly, dropping from $11.1M in 2024Q3 to $9.0M by 2026Q3, a trend that underscores the persistent difficulty in maintaining a stable capital structure while funding ongoing research and development activities.
The persistent accumulation of a $71.1M deficit in retained earnings suggests that the company has yet to achieve a self-sustaining business model. Investors should monitor the volatility in total assets, which appears to be driven more by external financing cycles than by organic growth in productive capacity.
As reported in financial statements, the company's cash position has been highly erratic, plummeting to $740.4K in 2026Q2 before recovering to $6.9M in 2026Q3, a volatility that highlights the firm's extreme dependence on periodic capital raises to maintain basic liquidity requirements.
The current ratio of 2.11 in 2026Q3 provides a temporary buffer, but this metric is heavily influenced by the timing of cash injections rather than operational efficiency. The historical tendency for the current ratio to dip below 1.0 suggests that the company remains perpetually vulnerable to liquidity shocks.
Based on reported figures, INBS has maintained a relatively low debt-to-equity ratio of 0.21 as of 2026Q3, yet the reliance on debt instruments appears to be a reactive measure to bridge funding gaps rather than a strategic choice to optimize the firm's capital structure.
While the absolute debt levels remain manageable at $1.8M, the company's inability to generate positive cash flow makes even modest leverage a potential burden. Any future debt service requirements may further constrain the limited capital available for critical clinical trial milestones.
Data from recent filings indicates that goodwill accounts for a substantial portion of the $14.9M total asset base, with $3.0M in goodwill reported as of 2026Q3, suggesting that the company's valuation is heavily tied to past acquisitions rather than tangible, revenue-generating infrastructure.
The relatively small net PPE of $2.1M confirms an asset-light model that relies on intellectual property and acquired technology. This composition warrants caution, as the carrying value of these intangibles may be subject to impairment if the commercialization of the saliva-based diagnostic platform fails to materialize.
Quick answers to the most common questions about buying INBS stock.
As of 2025, Intelligent Bio Solutions Inc. (INBS) had total assets of $8.2M including $4.1M in current assets.
Intelligent Bio Solutions Inc. (INBS) carries total debt of $0.3M, offset by $1.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Intelligent Bio Solutions Inc. (INBS) has total shareholders' equity (book value) of $3.0M ($5.34 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Intelligent Bio Solutions Inc. (INBS) reported a current ratio of 0.77x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.