Revenue growth remains highly inconsistent, fluctuating between a 114.2% surge in 2024Q2 and a 20.5% contraction in 2025Q2, while gross margins have swung wildly from 5.3% to 112.1% over the observed period.
| Sales/Revenue | 3.91M | 3.05M | 3.11M | 1.26M | 0 | 1.98M | 188.74K | 0 | 0 | 0 |
| Revenue Growth % | 33.26% | -1.9% | 147.58% | - | -100% | 949.3% | - | - | - | - |
| Cost of Goods Sold | 2.66M | 1.81M | 1.69M | 930.2K | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | 59.15% | 54.19% | 74.01% | - | - | - | - | - | - |
| Gross Profit | 1.26M | 1.25M | 1.43M | 326.67K | 0 | 1.98M | 188.74K | 0 | 0 | 0 |
| Gross Margin % | 32.08% | 40.85% | 45.81% | 25.99% | - | 100% | 100% | - | - | - |
| Gross Profit Growth % | - | -12.54% | 336.41% | - | -100% | 949.3% | - | - | - | - |
| Operating Expenses | 13M | 11.89M | 11.71M | 12.92M | 8.34M | 7.55M | 3.05M | 6.73M | 4.6M | 173K |
| OpEx % of Revenue | - | 389.56% | 376.27% | 1028.1% | - | 381.42% | 1613.69% | - | - | - |
| Selling, General & Admin | 10.17M | 8.88M | 9.26M | 8.03M | 4.92M | 3.36M | 2.2M | 3.55M | 2.08M | 173K |
| SG&A % of Revenue | - | 291.03% | 297.53% | 638.63% | - | 169.61% | 1167.26% | - | - | - |
| Research & Development | 3.36M | 2.4M | 1.67M | 507.42K | 3.85M | 3.84M | 588.21K | 3.18M | 2.53M | 0 |
| R&D % of Revenue | - | 78.51% | 53.79% | 40.37% | - | 193.68% | 311.64% | - | - | - |
| Other Operating Expenses | -527.24K | 611.04K | 776.5K | 4.39M | -437.15K | 359.2K | 254.41K | 0 | 0 | 0 |
| Operating Income | -11.75M | -10.64M | -10.28M | -12.6M | -8.34M | -5.57M | -2.86M | -5.83M | -4.6M | -173K |
| Operating Margin % | -300.26% | -348.71% | -330.46% | -1002.11% | - | -281.42% | -1513.69% | - | - | - |
| Operating Income Growth % | - | -3.51% | 18.36% | -51.08% | -49.58% | -95.08% | 51.03% | -26.74% | -2560.69% | - |
| EBITDA | -10.57M | -9.67M | -9.31M | -11.63M | -8.33M | -359.2K | -254.41K | 0 | 0 | 15.72K |
| EBITDA Margin % | -270.21% | -316.93% | -299.15% | -925.19% | - | -18.14% | -134.79% | - | - | - |
| EBITDA Growth % | -11.82% | -3.93% | 19.95% | -39.66% | -2218.06% | -41.19% | - | - | -100% | - |
| D&A (Non-Cash Add-back) | 1.18M | 970.12K | 974.36K | 966.73K | 0 | 5.21M | 2.6M | 5.83M | 4.6M | 188.72K |
| EBIT | -11.76M | -10.42M | -10.28M | -10.44M | -8.33M | -5.21M | -2.6M | -6.73M | -4.6M | -173K |
| Net Interest Income | -2.07K | 40.63K | -82.32K | -214K | 6.89K | -1.08M | -458K | -665K | -453K | 0 |
| Interest Income | 72.34K | 101.52K | 84.82K | 9.68K | 14.43K | 13.81K | 97 | 188 | 0 | 151.28K |
| Interest Expense | 74.41K | 60.89K | 167.14K | 223.53K | 7.54K | 1.09M | 457.75K | 664.84K | 453.87K | 0 |
| Other Income/Expense | 108.9K | 39.72K | 92.24K | 1.93M | 2.9K | -1.49M | -335.96K | -1.56M | -453K | -139K |
| Pretax Income | -11.64M | -10.6M | -10.19M | -10.66M | -8.33M | -7.06M | -3.19M | -7.39M | -5.06M | -312K |
| Pretax Margin % | -297.48% | -347.41% | -327.5% | -848.5% | - | -356.49% | -1691.68% | - | - | - |
| Income Tax | 12.88K | 0 | 0 | 0 | 0 | 0 | 0 | -57.69K | -36.39K | 0 |
| Effective Tax Rate % | -0.11% | 0% | 0% | 0% | 0% | 0% | 0% | 0.78% | 0.72% | 0% |
| Net Income | -11.61M | -10.57M | -10.16M | -10.63M | -8.31M | -7.04M | -3.16M | -7.34M | -5.02M | -340K |
| Net Margin % | -296.76% | -346.23% | -326.4% | -845.89% | - | -355.33% | -1676.23% | - | - | - |
| Net Income Growth % | -13.16% | -4.06% | 4.47% | -28% | -18.03% | -122.43% | 56.88% | -46.16% | -1376.47% | - |
| Net Income (Continuing) | -11.65M | -10.6M | -10.19M | -10.66M | -8.33M | -7.06M | -3.19M | -7.39M | -5.06M | -312K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -210.25K | -182.31K | -146.16K | -111.99K | -79.15K | -51.23K | -28.31K | 637.92K | 1.31M | 0 |
| EPS (Diluted) | -7.28 | -20.00 | -63.80 | -105.80 | -113.30 | -162.20 | -89.20 | -210.10 | -146.00 | -9.90 |
| EPS Growth % | 63.07% | 68.65% | 39.7% | 6.62% | 30.15% | -81.84% | 57.54% | -43.9% | -1374.75% | - |
| EPS (Basic) | - | -20.00 | -63.80 | -105.80 | -113.30 | -162.20 | -89.20 | -210.10 | -146.00 | -9.90 |
| Diluted Shares Outstanding | 1.59M | 527.36K | 318.5K | 200.9K | 73.33K | 52.07K | 70.92K | 60.4K | 60.4K | 60.4K |
| Basic Shares Outstanding | 1.59M | 527.36K | 318.5K | 200.9K | 73.33K | 52.07K | 70.92K | 60.4K | 60.4K | 60.4K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and dilution
According to quarterly financial data, INBS revenue growth has remained highly volatile, fluctuating between a 114.2% surge in 2024Q2 and a subsequent 20.5% contraction in 2025Q2, ultimately failing to establish a stable upward trajectory despite the recent 45.5% year-over-year increase reported in the 2026Q3 period.
The erratic revenue performance suggests that the company's commercialization efforts for its diagnostic platforms have yet to achieve predictable market penetration. Investors should monitor whether the recent growth uptick represents a sustainable shift in adoption or merely the lumpy recognition of transactional sales.
As reported in financial statements, gross margins for INBS have exhibited extreme instability, ranging from a low of 5.3% in 2025Q1 to an anomalous 112.1% in 2024Q4, indicating that the company's cost of goods sold is not yet optimized for consistent, scalable diagnostic product delivery.
This wide variance in gross profitability implies significant challenges in manufacturing efficiency and potential inventory accounting adjustments. Such fluctuations make it difficult to assess the underlying unit economics of the company's fingerprint-based drug testing and biosensor technologies.
Based on the company's reported figures, SG&A expenses have consistently remained in the $1.7M to $2.7M range per quarter, which significantly dwarfs the company's quarterly revenue, highlighting a structural cost burden that continues to drive deep operating losses regardless of top-line performance.
The persistent gap between operating expenses and revenue suggests that the firm is currently prioritizing market entry and regulatory compliance over operational efficiency. This cost structure appears unsustainable without a substantial and immediate increase in revenue scale to cover the fixed overhead.
Data from recent filings indicates that INBS is consistently burning through capital to fund operations, with quarterly operating losses frequently exceeding $2.5M, a trend that appears increasingly precarious given the limited cash reserves available to support ongoing research and commercialization activities in the near term.
The reliance on external financing to bridge the gap between operating losses and cash flow suggests a high risk of further shareholder dilution. Market participants should remain cautious regarding the company's ability to reach a self-sustaining financial position before exhausting its current liquidity.
Quick answers to the most common questions about buying INBS stock.
For fiscal year 2025, Intelligent Bio Solutions Inc. (INBS) reported total revenue of $3.1M.
Intelligent Bio Solutions Inc. (INBS) reported a net loss of $10.6M for the fiscal year ending 2025.
Intelligent Bio Solutions Inc. (INBS) reported an operating income of $-10.6M, resulting in an operating profit margin of -348.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Intelligent Bio Solutions Inc. (INBS) generated $1.2M in gross profit for the year, representing a gross profit margin of 40.8%. This demonstrates the company's core pricing power and production efficiency.