Intelligent Bio Solutions Inc. (NASDAQ:INBS) on Tuesday reported a third quarter 2025 loss of 44 cents per share, down from a loss of $1.43 a year ago.

The noninvasive testing solutions provider reported sales of $728.87 thousand, down from $823.80 thousand a year ago.

Total revenues increased 20% quarter-over-quarter, supported by ongoing expansion across safety-critical industries and steady customer acquisition.

Also Read: EXCLUSIVE: FDA Seeks Additional Information For Intelligent Bio Solutions' Drug Screening System, Clearance Process Remains on Track For 2025 US Launch

As we expand further into new markets, our focus on growing cartridge adoption, our highest-margin revenue stream, is strengthening the business fundamentals," said Harry Simeonidis, President and CEO at Intelligent Bio Solutions.

"We've also seen a notable reduction in losses this quarter, reflecting ongoing improvements in cost control and operational efficiency. To support global scalability, we introduced multilingual functionality across our drug screening system and websites, ensuring our solution is widely accessible, commercially viable, and ready for broader distribution across international markets. We believe these efforts are laying a strong foundation for long-term, sustainable revenue growth."

The company secured 35 new accounts during the quarter ended March 31, 2025, bringing its total active account base to over 450.

Cartridge revenue increased from 49% to 58% for the nine months ended March 31, 2025, an increase of 9 percentage points compared to the same period in 2024.

As of March 31, 2025, total cash and cash equivalents were $2.81 million. 

Gross profits for the fiscal third quarter were $341,368, an increase of 91% year-over-year.

Increases in gross profit are mainly attributable to enhanced production capacity, which has reduced direct labor, direct materials, and direct product-related overhead costs.

The company said it continues to improve its strategic sales mix and operational streamlining, thus driving increased gross profit. 

Net loss attributable to the company decreased to $2.54 million from $2.98 million a year ago.

During the fiscal third quarter, the company advanced its international growth strategy and product readiness through a series of targeted initiatives. These included expanded access in key European markets, multilingual upgrades to its drug screening system and digital outlets, and further protection of its core intellectual property portfolio. Intelligent Bio said these developments support its ability to scale globally and drive sustained commercial growth.

In March, Intelligent Bio received a U.S. patent for its Intelligent Fingerprinting Drug Screening Cartridge. 

This is the company's sixth active patent to be granted in the U.S., strengthening the protection of its unique and proprietary drug screening technology. 

U.S. Patent (12259385) relates to the proprietary lateral flow test strip inside the company's Drug Screening Cartridge.

Price Action: At the last check on Tuesday, INBS stock was up 4.92% at $1.28 during the premarket session.

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