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IB

INTELLIGENT BIO SOLUTIONS INC. (INBS)·Q1 2026 Earnings Summary

Executive Summary

  • Record revenue of $1.11M (+32% q/q, +28% y/y) on stronger consumables mix; gross margin expanded 690 bps y/y to 46.6% on operational efficiency and higher-margin cartridge sales .
  • Net loss was $(2.98)M (EPS $(0.35)) as operating expenses of $(3.71)M and a $(0.26)M impairment offset gross profit and government support income .
  • Commercial traction accelerated: cartridges were 57.6% of revenue ($0.64M), 33 new accounts, and active accounts reached 492; secured a large London transport contract and added SmarTest Patch/SMARTOX distribution to broaden portfolio and channels .
  • No quantitative guidance; management emphasized regulatory progress toward FDA clearance and international expansion; near-term catalysts include U.S. regulatory milestones and ramp of new enterprise wins .

What Went Well and What Went Wrong

What Went Well

  • Mix and margin: Gross margin hit 46.6% (+690 bps y/y) on improved operations and higher cartridge mix (57.59% of revenue) .
  • Demand and scale: Record revenue ($1.11M) with +32% q/q and +28% y/y growth; 33 new accounts and 492 active accounts across 24+ countries .
  • Strategic wins: Major London public transport operator contract; portfolio expansion with SmarTest Patch and global distribution via SMARTOX .
    • CEO: “Our first quarter results show accelerating momentum… record quarterly revenue… with 32% growth sequentially and 28% year-over-year… expanding gross margins” .
    • CFO: “Financial discipline… translating into meaningful margin expansion and operational leverage” .

What Went Wrong

  • Profitability: Net loss $(2.98)M with loss from operations $(3.00)M; EPS $(0.35), reflecting elevated SG&A $(2.66)M despite revenue growth .
  • Non-cash charges: Recognized $(0.26)M impairment of long-lived assets in the quarter .
  • Balance sheet constraints: Cash was $1.66M vs accounts payable/accrued expenses of $3.99M at quarter-end; total liabilities $6.61M .

Financial Results

Revenue, EPS, and margins vs prior periods and estimates

MetricQ3 FY2025Q4 FY2025Q1 FY2026Q1 FY2025 (YoY)Consensus (Q1 FY2026)
Revenue ($)$728,867 $843,884 $1,111,797 $872,287 n/a*
Diluted EPS ($)$(0.44) n/a$(0.35) $(0.70) n/a*
Gross Profit Margin (%)46.9% (computed from revenue/gross profit) n/a46.6% 39.68% n/a*

Notes:

  • Q4 FY2025 EPS and margin were not disclosed in the press release; only revenue was cited .
  • Consensus estimates from S&P Global were unavailable for revenue and EPS for Q1 FY2026 as of this report; comparisons are versus prior periods. Values retrieved from S&P Global.*

Key P&L and cash metrics

MetricQ1 FY2026
Gross Profit ($)$518,291
Government Support Income ($)$193,267
SG&A ($)$(2,659,824)
Development & Regulatory Expenses ($)$(486,169)
Impairment of Long-Lived Assets ($)$(261,780)
Net Loss ($)$(2,983,006)
Cash & Cash Equivalents ($)$1,660,105

KPIs

KPIQ1 FY2026
Cartridge Revenue ($)$640,300
Cartridge Mix (% of Revenue)57.59%
New Accounts (Quarter)33
Active Accounts492
Countries24+

Segment breakdown: Not applicable; no segments disclosed .

Guidance Changes

No quantitative guidance was provided in the Q1 FY2026 press release; management emphasized regulatory progress, consumables-led growth, and international expansion .

MetricPeriodPrevious GuidanceCurrent GuidanceChange
Company GuidanceQ2 FY2026 and FY2026None disclosed None disclosed n/a

Earnings Call Themes & Trends

No Q1 FY2026 earnings call transcript was available in filings; themes reflect company press releases.

TopicPrevious Mentions (Q3 FY2025, Q4 FY2025)Current Period (Q1 FY2026)Trend
FDA/regulatory pathwaySubmitted 510(k) in Dec-2024; on track for U.S. expansion “Advanc[ing] along the regulatory pathway toward planned FDA clearance” Steady progress toward U.S. entry
Consumables mix/marginsCartridge share at 58% for FYTD to Mar-31; margin improvement Cartridges 57.59% of revenue; gross margin 46.6% (+690 bps y/y) Sustained mix-driven margin gains
Customer acquisition+35 accounts in Q3; active base >450 +33 accounts; active accounts 492 Continuing steady additions
International expansionNew distributors, multilingual system/websites; EMEA and APAC expansion Large London transport win; SMARTOX distribution; SmarTest Patch global Broader channel and enterprise traction
Product portfolioSystem multilingual upgrades; IP strengthened Added SmarTest Patch, expanding monitoring capability Portfolio broadening

Management Commentary

  • CEO (Harry Simeonidis): “We achieved record quarterly revenue of $1.11 million… with 32% growth sequentially and 28% year-over-year… expanding gross margins, [which] validates our strategic focus on consumable cartridge sales” .
  • CFO (Spiro Sakiris): “Financial discipline… translating into meaningful margin expansion and operational leverage… improved customer acquisition metrics and accelerating revenue per account” .
  • Prior period strategic framing: “As we enter fiscal 2026, we’re focused on… accelerating growth, advancing operational excellence, and expanding beyond Forensic Use Only settings in the U.S.” .

Q&A Highlights

No earnings call transcript or Q&A was available for Q1 FY2026; no Q&A highlights to report.

Estimates Context

  • Wall Street consensus (S&P Global) for Q1 FY2026 EPS and revenue was unavailable; as such, no beat/miss analysis vs consensus can be provided. Values retrieved from S&P Global.*
  • Implications: In absence of consensus anchors, investor focus is likely to center on sequential growth, mix-led margin expansion, and regulatory milestones as directional catalysts .

Key Takeaways for Investors

  • Mix-led upside: Record revenue and 46.6% gross margin underscore the leverage in consumables; continued cartridge penetration is a tangible driver for gross margin resilience .
  • Pipeline-to-revenue conversion: 33 new accounts and a large London transport contract support visibility into near-term consumables demand; active accounts at 492 broaden the base for recurring revenue .
  • Regulatory milestone catalyst: Management reiterated progress toward FDA clearance; any 510(k) updates could be significant stock catalysts given U.S. market size .
  • OpEx discipline remains critical: Operating expenses of $(3.71)M and a $(0.26)M impairment drove the loss; sustaining margin gains while moderating opex is key to narrowing losses .
  • Liquidity watch: Cash of $1.66M vs payables/accrued of $3.99M suggests close monitoring of working capital and financing optionality until scale is achieved .
  • Portfolio and channels expanding: SmarTest Patch and SMARTOX distribution broaden use cases and geography, potentially accelerating international adoption ahead of U.S. entry .
  • Trading setup: With no Street consensus, narrative-driven catalysts (record revenue, margin expansion, regulatory progress, enterprise wins) are likely to dominate near-term sentiment .

Footnote: *Consensus data unavailable; values retrieved from S&P Global.