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): November 12, 2025
INTELLIGENT
BIO SOLUTIONS INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-39825 | 82-1512711 |
|---|---|---|
| (State<br> of Incorporation) | (Commission<br> File Number) | (IRS<br> employer identification no.) |
135West**, 41^st^Street** , 5thFloor
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 November 12, 2025, Intelligent Bio Solutions Inc. (the “Company”), issued a press release (the “Press Release”) announcing financial results for the fiscal quarter ended September 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 November 12, 2025 |
| 104 | Cover<br> Page Interactive Data File (embedded within the 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> November 12, 2025 | ||
|---|---|---|
| INTELLIGENT BIO SOLUTIONS INC. | ||
| By: | /s/ Spiro Sakiris | |
| Name: | Spiro<br> Sakiris | |
| Title: | Chief<br> Financial Officer |
Exhibit99.1
IntelligentBio Solutions Reports Fiscal 2026 First Quarter Financial Results and Operational Highlights, Delivering Record Revenue Growth
Recordquarterly revenue of $1.11 million, an increase of 32% sequentially and 28% year-over-year, driven by consumable cartridge sales andcustomer base expansion
Grossprofit margins increased 690 basis points year-over-year to 46.6%, reflecting improved operational efficiency and greater revenue percentagefrom higher margin cartridge sales
NEWYORK, November 12, 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 first quarter ended September 30, 2025.
The fiscal 2026 first quarter delivered record quarterly revenue of $1.11 million, driven by accelerating cartridge sales, significant customer acquisition, and strategic partnerships that position INBS for continued expansion across key international markets. The Company’s consumable-focused business model demonstrated strong momentum, with cartridge sales representing nearly 58% of total revenue. Gross profit margins increased by 690 basis points year-over-year to 46.6%, due to improved operational efficiency and a greater revenue percentage from higher margin cartridge sales.
“Ourfirst quarter results show accelerating momentum of our business model and the growing market adoption internationally of our non-invasivedrug screening technology,” said Harry Simeonidis, President and CEO at Intelligent Bio Solutions. “We achieved recordquarterly revenue of $1.11 million, representing our strongest quarter to date, with 32% growth sequentially and 28% year-over-year.This significant revenue increase, combined with expanding gross margins, validates our strategic focus on consumable cartridge salesand positions us well for sustained growth as we advance along the regulatory pathway toward planned FDA clearance and U.S. market entry.”
KeyFinancial and Operational Highlights
| ● | Revenue<br> of $1,111,797, up 32% sequentially from the fiscal fourth quarter 2025 and 28% year-over-year<br> from the fiscal first quarter 2025. |
|---|---|
| ● | Cartridge<br> sales of $640,300 represented 57.59% of total revenue, up from 51.1% in the fiscal first<br> quarter of 2025, demonstrating the strength of the Company’s recurring revenue model. |
| ● | Gross<br> profit margins increased to 46.6% from 39.68% in the fiscal first quarter of 2025, reflecting<br> improved operational efficiency and product mix optimization. |
| ● | Added<br> 33 new customer accounts during the quarter, bringing the Company’s total number of<br> active accounts to 492 across 24+ countries. |
StrategicMarket Expansion and Partnerships
| ● | Secured<br> a major contract with a London public transport operator covering 14 operational sites and<br> over 4,400 staff, representing a significant scale deployment. |
|---|---|
| ● | Expanded<br> product portfolio with the addition of the SmarTest® Patch, an innovative 7-10 day continuous<br> drug monitoring solution. |
| ● | Established<br> a global distribution agreement with SMARTOX® to bring its SmarTest Patch technology<br> to international markets outside of the U.S. and Canada. |
| --- | --- |
“Asour first fiscal quarter results show, the financial discipline implemented throughout fiscal 2025 is now translating into meaningfulmargin expansion and operational leverage,” said Spiro Sakiris, CFO at Intelligent Bio Solutions. “We are seeing strongreturns on strategic investments, with improved customer acquisition metrics and accelerating revenue per account. We believe that weare well positioned to capitalize on the growth opportunities ahead.”
INBS’s proprietary fingerprint technology addresses key pain points in drug screening, including privacy and dignity, user experience, and operational efficiency, positioning the Company to capitalize on the growing demand for non-invasive, rapid drug screening solutions. The addition of the SmarTest® Patch and SMARTOX® partnership, combined with INBS’s international expansion and proven ability to secure large-scale deployments, positions the Company for continued revenue diversification and market growth throughout 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 U.S. 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 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
[FinancialTables to Follow]
IntelligentBio Solutions Inc.
CondensedConsolidated Balance Sheets
| As of June 30, | |||||
|---|---|---|---|---|---|
| 2025 | |||||
| ASSETS | |||||
| Current assets | |||||
| Cash and cash equivalents | 1,660,105 | $ | 1,019,909 | ||
| Accounts receivable, net | 717,823 | 594,614 | |||
| Inventories | 628,177 | 635,215 | |||
| Research and development tax incentive receivable | 924,062 | 734,408 | |||
| Assets held for sale | 66,020 | 327,500 | |||
| Other current assets | 488,182 | 826,976 | |||
| Total current assets | 4,484,369 | 4,138,622 | |||
| Property and equipment, net | 271,745 | 251,325 | |||
| Operating lease right-of-use assets | 1,808,892 | 69,520 | |||
| Intangibles, net | 3,473,303 | 3,790,319 | |||
| Total assets | 10,038,309 | $ | 8,249,786 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||
| Current liabilities | |||||
| Accounts payable and accrued expenses | 3,992,427 | $ | 4,534,246 | ||
| Current portion of operating lease liabilities | 362,801 | 84,659 | |||
| Current employee benefit liabilities | 567,059 | 534,990 | |||
| Notes payable | 139,787 | 197,146 | |||
| Total current liabilities | 5,062,074 | 5,351,041 | |||
| Employee benefit liabilities, less current portion | 100,041 | 84,921 | |||
| Operating lease liabilities, less current portion | 1,449,265 | - | |||
| Total liabilities | 6,611,380 | 5,435,962 | |||
| Commitments and contingencies | |||||
| Shareholders’ equity | |||||
| Common stock, 0.01 par value, 100,000,000 shares authorized, 9,098,473 and 9,098,357 shares issued and outstanding, respectively, as of September 30, 2025; 7,323,377 and 7,323,261 shares issued and outstanding, respectively, as of June 30, 2025 | 90,985 | 73,230 | |||
| Treasury stock, at cost, 116 shares as of September 30, 2025 and June 30, 2025 | (1 | ) | (1 | ) | |
| Additional paid-in capital | 69,325,542 | 65,783,916 | |||
| Accumulated deficit | (65,516,071 | ) | (62,533,065 | ) | |
| Accumulated other comprehensive loss | (279,228 | ) | (327,944 | ) | |
| Total consolidated Intelligent Bio Solutions Inc. equity | 3,621,227 | 2,996,136 | |||
| Non-controlling interest | (194,298 | ) | (182,312 | ) | |
| Total shareholders’ equity | 3,426,929 | 2,813,824 | |||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 10,038,309 | $ | 8,249,786 |
All values are in US Dollars.
IntelligentBio Solutions Inc.
CondensedConsolidated Statements of Operations and Other Comprehensive Income (Loss)
(Unaudited)
| Three Months Ended September 30, | ||||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||
| Revenue | $ | 1,111,797 | $ | 872,287 | ||
| Cost of revenue (exclusive of amortization shown separately below) | (593,506 | ) | (525,486 | ) | ||
| Gross profit | 518,291 | 346,801 | ||||
| Other income | ||||||
| Government support income | 193,267 | 126,128 | ||||
| Operating expenses | ||||||
| Selling, general and administrative expenses | (2,659,824 | ) | (1,949,016 | ) | ||
| Development and regulatory approval expenses | (486,169 | ) | (948,752 | ) | ||
| Depreciation and amortization | (303,378 | ) | (300,422 | ) | ||
| Impairment of long-lived assets | (261,780 | ) | - | |||
| Total operating expenses | (3,711,151 | ) | (3,198,190 | ) | ||
| Loss from operations | (2,999,593 | ) | (2,725,261 | ) | ||
| Other income (expense), net | ||||||
| Interest expense | (3,903 | ) | (22,327 | ) | ||
| Realized foreign exchange loss | - | (51 | ) | |||
| Interest income | 8,504 | 52,840 | ||||
| Total other income, net | 4,601 | 30,462 | ||||
| Net loss | (2,994,992 | ) | (2,694,799 | ) | ||
| Net loss attributable to non-controlling interest | (11,986 | ) | (9,166 | ) | ||
| Net loss attributable to Intelligent Bio Solutions Inc. | $ | (2,983,006 | ) | $ | (2,685,633 | ) |
| Other comprehensive income (loss) | ||||||
| Foreign currency translation gain | 48,716 | 216,355 | ||||
| Total other comprehensive income | 48,716 | 216,355 | ||||
| Comprehensive loss | (2,946,276 | ) | (2,478,444 | ) | ||
| Comprehensive loss attributable to non-controlling interest | (11,986 | ) | (9,166 | ) | ||
| Comprehensive loss attributable to Intelligent Bio Solutions Inc. | $ | (2,934,290 | ) | $ | (2,469,278 | ) |
| Net loss per share, basic and diluted | $ | (0.35 | ) | $ | (0.70 | ) |
| Weighted average shares outstanding, basic and diluted | 8,546,934 | 3,811,090 |