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Intelligent Bio Solutions Achieves Record Monthly Sales of 12,500+ Units of Higher-Margin Cartridges in July
5 Reasons Why Intelligent Bio Solutions Inc Could Be Poised For Significant Upside Potential in 2025
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology pioneer providing smart, rapid, and non-invasive testing through fingerprint sweat analysis. Their flagship Intelligent Fingerprinting Drug Testing Solution delivers results in under 10 minutes with hygienic, cost-effective sample collection—ideal for safety-critical industry use. With over 450 active accounts globally and ongoing efforts to enter the U.S. market backed by a December 2024 FDA 510(k) submission, INBS is positioned at the forefront of innovation in portable drug screening.
Intelligent Bio Solutions Inc (NASDAQ: INBS)
Technology & Innovation
Intelligent Bio Solutions’ core innovation, the Intelligent Fingerprinting Drug Testing System, employs fingertip sweat for rapid drug screening. This non-invasive method avoids traditional biohazard issues and provides results in under ten minutes, improving convenience and privacy.
The system uses a portable reader and single-use cartridge to analyze sweat for substances like opiates, cocaine, methamphetamine, cannabis, and benzodiazepines. Built with high specificity (100%) and strong accuracy (94.1%), it offers reliable performance in field settings.
INBS also offers the SmarTest® sweat patch—discreet, wearable, and water-resistant—for continuous monitoring over 7–10 days, catering to contexts requiring longer-term surveillance.
Beyond drug detection, INBS is advancing a broader biosensor platform designed to detect various biomarkers—such as immunology markers or allergens—via non-invasive sweat, saliva, or interstitial fluid tests.
By eliminating the delays, invasive procedures, and logistical complexity of traditional testing, INBS’s innovations bring transformative potential to workplace safety, forensic applications, drug treatment programs, and other high-risk industries.
intelligent bio solutions inc (NASDAQ: INBS)
Market Presence & Growth
With over 450 customer accounts spanning 24 countries, INBS has established a broad international presence in industries including construction, mining, engineering, transport, logistics, law enforcement, and forensics.
In July 2025, INBS achieved a record high of over 12,500 cartridge sales marked by 60% year-over-year growth, underscoring rising adoption of its high-margin products.
In mid-2024, the company secured significant accounts in the UK’s warehouse, logistics, and retail sectors—extending its operational footprint and validating demand across diverse industries.
These commercial gains are complemented by regulatory progress, with INBS completing the in-clinic phase of its FDA 510(k) pharmacokinetic study in June 2024 and initiating dosing for further testing—key steps toward U.S. market eligibility.
With FDA clearance pending, INBS aims to enter the U.S. market in 2025—a critical development expected to substantially broaden its addressable opportunity.
Financial Position & Strategic Outlook
In 2024, INBS generated approximately $3.11 million in revenue with a gross profit of about $1.43 million. While net income remained negative at –$10.16 million, the figures reflect early-stage growth dynamics.
As of 2024, total assets stood near $13.78 million, with total liabilities around $5.45 million and minimal long-term debt (~$0.52 million), suggesting a controlled balance sheet with manageable obligations.
Operating activities consumed roughly $9.57 million in 2024. Financing activities brought in about $9.12 million, while investing activities were modest at –$0.22 million—illustrating active capital deployment and reliance on funding to support growth.
As of mid-August 2025, INBS’s market cap was estimated at around $11 million, placing it in the lower quartile of the healthcare sector by size—highlighting its status as a micro-cap, early-stage growth company.
Headquartered in New York, INBS is led by a seasoned team: CEO Harry Simeonidis brings extensive global medical tech experience (including GE Healthcare), while CFO Spiro Sakiris brings decades of financial leadership in life sciences—providing strategic depth for commercialization and scaling.
Introducing the Management Team of Intelligent Bio Solutions Inc (NASDAQ: INBS)
Harry Simeonidis - President & CEO
With more than 25 years in healthcare, pharmaceutical and life sciences, Harry has held various senior management positions across Asia Pacific. Before joining Intelligent Bio Solutions, he was the General Manager, Surgery, Asia Pacific, at GE Healthcare where led significant market expansion. Prior to this, Harry served as President and CEO of GE Healthcare ANZ for nine years.
Spiro Sakiris - CFO
Spiro is a seasoned finance professional with over 35 years of expertise in accounting, taxation, Initial Public Offerings (IPOs), capital raising, and business system designs. His work spans International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (GAAP) frameworks within the life science sector. He is a member of the Institute of Chartered Accountants of Australia & New Zealand.
Doug Heath - VP of Global Sales
Doug is a senior sales professional with over a decade of experience leading commercial strategies across global markets. Earlier in his career, Doug contributed to several large-scale infrastructure projects in the Middle East, including the Burj Khalifa and Lusail Village for the Qatari FIFA World Cup. As Vice President of Global Sales, Doug has been instrumental in driving sales and expanding Intelligent Bio Solutions’ market presence.
Peter Passaris - VP of Product Development
Peter has over 20 years of experience in the industrial energy and life science sectors, with a background in chemical engineering and leadership roles across North America and Australia. Before joining Intelligent Bio Solutions, he served as Area Manager for Ecolab’s oil and gas division on the West Coast of North America, specializing in process and water applications and acting as a subject matter expert across multiple disciplines.
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