24/7 Market News Snapshot 06 February, 2025 – Intelligent Bio Solutions Inc. Common Stock (NASDAQ:INBS)

February 6, 2025

DENVER, Colo., 06 February, 2025 (247marketnews.com) – (Nasdaq:INBS) are discussed in this article.
Intelligent Bio Solutions Inc. (Nasdaq:INBS) experienced a significant boost in its stock value today, opening at $1.74 and currently trading at $1.955, marking an approximate 15% increase from the previous session’s close of $1.70. The heightened trading activity, evidenced by a volume of 585.27K shares, reflects strong investor interest, likely spurred by recent positive developments and market sentiment.

In conjunction with its market performance, Intelligent Bio Solutions announced preliminary unaudited financial results for the fiscal second quarter and the first half of the year, predicting revenues of approximately $0.61 million and $1.48 million, respectively. This upward trend highlights a robust growth trajectory for the company, with a year-over-year revenue increase of 23%. Notably, the expected gross profit for the second quarter is forecasted to rise to $0.57 million, representing a 32.6% increase, driven largely by enhanced sales of its high-margin cartridges from the Intelligent Fingerprinting Drug Screening System.

President and CEO Harry Simeonidis articulated the company’s promising outlook, emphasizing that the substantial increase in gross profit margins—from 27.7% to a projected 38.5%—demonstrates the sustainability of its business model. He further commented on the significant progression the company is making as it prepares to enter the multi-billion-dollar U.S. drug screening market with the recent submission of a pivotal 510(k) premarket notification to the FDA.

With the intention to solidify its presence through strategic partnerships and continued expansion, Intelligent Bio Solutions remains dedicated to providing innovative drug screening solutions aimed at transforming traditional methodologies. The company plans to elaborate on its financial performance and strategic plans in its forthcoming Quarterly Report on Form 10-Q, set to be released in mid-February.

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