8-K
INTELLIGENT BIO SOLUTIONS INC. (INBS)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): August 15, 2025
INTELLIGENT
BIO SOLUTIONS INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-39825 | 82-1512711 |
|---|---|---|
| (State<br> of<br><br> <br>Incorporation) | (Commission<br><br> <br>File<br> Number) | (IRS<br> employer<br><br> <br>identification<br> no.) |
135West, 41st Street, 5th Floor
NewYork, NY 10036
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (646) 828-8258
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title<br> of each class | Trading<br> Symbol(s) | Name<br> of each exchange on which registered |
|---|---|---|
| Common<br> Stock, $0.01 par value | INBS | The<br> Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item2.02 Results of Operations and Financial Condition.
On August 15, 2025, Intelligent Bio Solutions Inc. (the “Company”) issued a press release (the “Press Release”) announcing financial results for the three months and full fiscal year ended June 30, 2025. A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information contained herein and in the accompanying exhibits shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing. The information in this report, including the exhibit hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.
Item9.01 Financial Statements and Exhibits.
| No. | Description |
|---|---|
| 99.1 | Press Release, dated August 15, 2025 |
| 104 | Cover Page Interactive Data File (embedded within the<br> Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date:<br> August 15, 2025 | ||
|---|---|---|
| INTELLIGENT BIO SOLUTIONS INC. | ||
| By: | /s/ Spiro Sakiris | |
| Name: | Spiro<br> Sakiris | |
| Title: | Chief<br> Financial Officer |
Exhibit99.1
IntelligentBio Solutions Reports Fiscal 2025 Fourth Quarter and Full Year Results, Highlighting Progress on Planned U.S. Market Expansion, RevenueGrowth and Increased Operational Efficiencies
Companyadvanced efforts to secure U.S. FDA 510(k) clearance to advance on path towards planned U.S. market expansion beyond Forensic Use Onlysettings
Fourthquarter sequential and year-on-year revenue growth of 16%, supported by increased demand for drug testing cartridges
NEWYORK, August 15, 2025 – Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced its financial results and operational highlights for the fiscal fourth quarter and full-year ended June 30, 2025.
Fiscal 2025 marked a year of growth for the Company, driven by higher-margin cartridge sales, operational streamlining, and regulatory advancements that support future expansion in the U.S. market, beyond current Forensic Use Only settings. The Company continues to expand its commercial presence internationally, with an active customer base exceeding 450 accounts across 24 countries, and 18 distribution partners.
“Fiscal2025 was a pivotal year for our business as we continued to lay the foundation for global growth,” said Harry Simeonidis, Presidentand CEO at Intelligent Bio Solutions. “We delivered sequential growth over fiscal quarters threeand two, driven by increased cartridge revenue, improved operational discipline, and growing international momentum. As we enter fiscal2026, we’re focused on three strategic priorities: further accelerating growth, advancing operational excellence, and expandingbeyond Forensic Use Only settings in the U.S. Our FDA regulatory pathway remains on track, and we are committed to achievingFDA clearance to expand into the U.S., the world’s largest drug screening market, and deliver our non-invasive solution to moreorganizations seeking fast, dignified, and reliable testing alternatives.”
ProgressToward FDA Clearance and U.S. Market Expansion
INBS remains focused on securing FDA 510(k) clearance for its opiate test system for codeine in the U.S., enabling broader use beyond current Forensic Use Only settings. In fiscal 2025, the Company advanced its regulatory strategy through increased engagement with regulatory consultants, refined clinical study design, and the generation of new scientific and clinical data to support its submission.
| ● | The<br> Company’s submission to the FDA was supported by a comprehensive dataset comprising<br> new positive data that further validates the security<br> and performance of its innovative fingerprint sweat-based drug screening technology. |
|---|---|
| ● | INBS<br> submitted performance data derived from advanced quantification methods, including human<br> eccrine sweat testing. An Ultra-Micro Balance scale confirmed the system’s capability<br> to detect and analyze the minute sweat volumes present in a single fingerprint. |
| ● | The<br> application reflects strategic input from specialized FDA consultants and expert third party<br> partners. |
| ● | Regulatory<br> expansion efforts beyond the U.S. continue, with active scoping underway in Canada, Indonesia,<br> and the Philippines. |
| --- | --- |
| ● | U.S.<br> market research efforts have progressed beyond initial scoping, with micro-level analysis<br> underway to assess regulatory barriers, relevant drug testing legislation, population distribution,<br> and regional industry concentrations. |
ExpansionAcross Key Markets
Revenue from sales of goods in fiscal Q4 increased by 16% year-on-year and quarter-on-quarter, supported by increased demand for drug testing cartridges, steady account acquisition across safety-critical sectors and growing partnerships. Cartridge sales remained the Company’s highest-margin revenue stream, contributing a growing share of total income and reinforcing the strength of its recurring revenue model.
| ● | 2025<br> fiscal fourth quarter revenue reached $843,884, up 16% year-on-year from 2024 fiscal fourth<br> quarter revenue of $727,824 and up 16% quarter-on-quarter from 2025 fiscal third quarter<br> revenue of $728,867, reflecting steady sequential growth. |
|---|---|
| ● | Revenue<br> from cartridge sales increased 9% quarter-on-quarter, 24% year-on-year for the fiscal fourth<br> quarter, and 14% year-on-year for the full fiscal year. |
| ● | Revenue<br> from reader sales increased 15% quarter-on-quarter. |
| ● | The<br> Company secured 115 new accounts throughout the year, bringing the total active customer<br> base to over 450. The Company expects this accelerated pace of new active account growth<br> to continue into the future. |
| ● | New<br> distributor partnerships and deployments in large-scale transport, logistics and construction<br> networks underpinned strategic growth across the UK, Europe, and the Middle East. |
OperationalEfficiencies and Business Localization Strengthen Fundamentals
The Company implemented targeted measures to improve gross margins and reduce net loss, including product enhancements, manufacturing improvements, systems upgrades and the use of localized strategies and automation.
| ● | The<br> multilingual upgrade of the Intelligent Fingerprinting Drug Screening System was completed,<br> with support for Arabic and Latin American Spanish now available. |
|---|---|
| ● | Regionally<br> localized websites were launched in Italian, Spanish and Arabic, supporting international<br> partners and end users in Europe, the Middle East, and Latin America. |
| ● | The<br> Company fully optimized its CRM system, HubSpot, enabling region-specific workflows, lead<br> tracking, and automation efforts to improve conversion tracking, marketing effectiveness<br> and customer engagement. |
| ● | The<br> Company commenced implementation of a new accounting system that will enhance its internal<br> controls by improving efficiency, accuracy, and reliability in financial reporting and data<br> management. Additionally, it commenced implementing a new accounting system for its subsidiary<br> Intelligent Fingerprinting Limited and plans to complete this by the third fiscal quarter<br> of FY 2025–26. |
| ● | The<br> addition of a sixth U.S. patent strengthened the Company’s intellectual property portfolio<br> and reinforced its long-term defensibility. |
*“We’veachieved an enormous amount over fiscal 2025, delivering quarter-on-quarter growth, with accelerated momentum in the second half,”*said Spiro Sakiris, Chief Financial Officer at IntelligentBio Solutions. “This consistent performance reflects the growing traction of our testing solutionsin key markets and gives us confidence in our trajectory as we move into fiscal 2026.”
AboutIntelligent Bio Solutions Inc.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. The Company’s current customer segments outside the US include construction, manufacturing and engineering, transport and logistics firms, mining, drug treatment organizations, and coroners.
For more information, visit https://ibs.inc/
Forward-LookingStatements
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, Intelligent Bio Solutions Inc.’s ability to successfully develop and commercialize its drug and diagnostic tests, realize commercial benefit from its partnerships and collaborations, and secure regulatory approvals, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements by terminology, including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, included in Intelligent Bio Solutions’ public filings filed with the Securities and Exchange Commission. Any forward-looking statements contained in this release speak only as of its date. Intelligent Bio Solutions undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
CompanyContact
Intelligent Bio Solutions Inc.
info@ibs.inc
LinkedIn | Twitter
Investor& Media Contact
Valter Pinto, Managing Director
KCSA Strategic Communications
PH: (212) 896-1254
INBS@kcsa.com
IntelligentBio Solutions Inc.
ConsolidatedBalance Sheets
| As of June 30, | |||||
|---|---|---|---|---|---|
| 2024 | |||||
| ASSETS | |||||
| Current assets | |||||
| Cash and cash equivalents | 1,019,909 | $ | 6,304,098 | ||
| Accounts receivable, net | 594,614 | 429,704 | |||
| Inventories, net | 635,215 | 777,537 | |||
| Research and development tax incentive receivable | 734,408 | 525,332 | |||
| Assets held for sale | 327,500 | - | |||
| Other current assets | 826,976 | 497,572 | |||
| Total current assets | 4,138,622 | 8,534,243 | |||
| Property and equipment, net | 251,325 | 565,850 | |||
| Operating lease right-of-use assets | 69,520 | 306,744 | |||
| Intangibles, net | 3,790,319 | 4,372,026 | |||
| Total assets | 8,249,786 | $ | 13,778,863 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||
| Current liabilities | |||||
| Accounts payable and accrued expenses | 4,534,246 | $ | 1,704,568 | ||
| Current portion of operating lease liabilities | 84,659 | 274,834 | |||
| Deferred grant income | - | 2,486,668 | |||
| Current employee benefit liabilities | 534,990 | 469,381 | |||
| Notes payable | 197,146 | 515,282 | |||
| Total current liabilities | 5,351,041 | 5,450,733 | |||
| Employee benefit liabilities, less current portion | 84,921 | 63,615 | |||
| Operating lease liabilities, less current portion | - | 81,324 | |||
| Total liabilities | 5,435,962 | 5,595,672 | |||
| Commitments and contingencies (Note 16) | |||||
| Shareholders’ equity | |||||
| Common stock, 0.01 par value, 100,000,000 shares authorized, 7,323,377 and 7,323,261 shares issued and outstanding, as of June 30, 2025, respectively; 3,456,116 and 3,456,000 shares issued and outstanding, as of June 30, 2024 respectively | 73,230 | 34,557 | |||
| Treasury stock, at cost, 116 shares as of June 30, 2025 and 2024 | (1 | ) | (1 | ) | |
| Additional paid-in capital | 65,783,916 | 60,971,740 | |||
| Accumulated deficit | (62,533,065 | ) | (51,964,332 | ) | |
| Accumulated other comprehensive loss | (327,944 | ) | (712,614 | ) | |
| Total consolidated Intelligent Bio Solutions Inc. equity | 2,996,136 | 8,329,350 | |||
| Non-controlling interest | (182,312 | ) | (146,159 | ) | |
| Total shareholders’ equity | 2,813,824 | 8,183,191 | |||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 8,249,786 | $ | 13,778,863 |
All values are in US Dollars.
IntelligentBio Solutions Inc.
ConsolidatedStatements of Operations and Other Comprehensive Income (Loss)
| Year ended June 30, | ||||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||
| Revenue | $ | 3,052,532 | $ | 3,111,781 | ||
| Cost of revenue (exclusive of amortization shown separately below) | (1,805,673 | ) | (1,686,155 | ) | ||
| Gross profit | 1,246,859 | 1,425,626 | ||||
| Other income | ||||||
| Government support income | 816,901 | 424,776 | ||||
| Operating expenses | ||||||
| Selling, general and administrative expenses | (8,883,917 | ) | (9,258,496 | ) | ||
| Development and regulatory approval expenses | (2,396,513 | ) | (1,673,806 | ) | ||
| Depreciation and amortization | (1,207,875 | ) | (1,201,274 | ) | ||
| Impairment of long-lived assets | (220,062 | ) | - | |||
| Total operating expenses | (12,708,367 | ) | (12,133,576 | ) | ||
| Loss from operations | (10,644,607 | ) | (10,283,174 | ) | ||
| Other income (expense), net | ||||||
| Interest expense | (60,890 | ) | (167,140 | ) | ||
| Realized foreign exchange loss | (911 | ) | (1,178 | ) | ||
| Fair value gain on revaluation of financial instrument | - | 175,738 | ||||
| Interest income | 101,522 | 84,822 | ||||
| Total other income, net | 39,721 | 92,242 | ||||
| Net loss | (10,604,886 | ) | (10,190,932 | ) | ||
| Net loss attributable to non-controlling interest | (36,153 | ) | (34,173 | ) | ||
| Net loss attributable to Intelligent Bio Solutions Inc. | $ | (10,568,733 | ) | $ | (10,156,759 | ) |
| Other comprehensive income (loss) | ||||||
| Foreign currency translation gain (loss) | 384,670 | (137,118 | ) | |||
| Total other comprehensive income (loss) | 384,670 | (137,118 | ) | |||
| Comprehensive loss | (10,220,216 | ) | (10,328,050 | ) | ||
| Comprehensive loss attributable to non-controlling interest | (36,153 | ) | (34,173 | ) | ||
| Comprehensive loss attributable to Intelligent Bio Solutions Inc. | (10,184,063 | ) | (10,293,877 | ) | ||
| Net loss per share, basic and diluted | $ | (2.00 | ) | $ | (6.38 | ) |
| Weighted average shares outstanding, basic and diluted | 5,273,643 | 1,592,746 |