Intelligent Bio Solutions achieved record fiscal Q1 2027 revenue of $1.39 million, up 25% year-over-year, while expanding gross margins to 54.5% and advancing its U.S. market entry strategy via an FDA 510(k) submission.
Fiscal Q1 2027 (ended September 30, 2026) revenue of $1,391,835 beat the prior record of $1,145,802, up 25% year-over-year and 21% sequentially, while gross margin jumped to 54.5% from 46.6% and cash rose to $5.93 million from $3.99 million. The FDA 510(k) submission on September 9, 2026 opens a path to the U.S. market. The main caveat is the small absolute revenue base and that FDA clearance remains pending rather than granted.
Intelligent Bio Solutions Inc. posted record quarterly revenue of $1.39 million for the fiscal first quarter ended September 30, 2026, representing a 25% year-over-year increase. The company also expanded its gross profit margin to 54.5% and submitted a 510(k) premarket notification to the FDA on September 9, 2026, as it works toward entering the U.S. drug screening market.
The company reported its highest-ever quarterly revenue of $1.39 million, up 25% year-over-year, expanded gross margin to 54.5% from 46.6%, and boosted cash to $5.93 million. It also submitted its FDA 510(k) application on September 9, 2026, a key step toward entering the U.S. drug screening market.
The FDA 510(k) submission has not yet been cleared — the company is still awaiting the FDA's review of the Intelligent Fingerprinting Drug Screening System for detection of codeine, and the outcome and timing are uncertain.