Intelligent Bio Solutions Inc. (NASDAQ: INBS)

Intelligent Bio Solutions Inc. is a medical technology company headquartered in New York New York that focuses on developing rapid non invasive testing solutions. The company’s core offerings include the Intelligent Fingerprinting Drug Screening System which detects drugs of abuse through fingerprint sweat and a biosensor platform aimed at point of care diagnostic applications. It operates globally with subsidiaries in the United Kingdom Australia and the United States.

Revenue is generated primarily from the sale of Intelligent Fingerprinting Drug Screening System cartridges and the portable DSR Plus readers that analyze those cartridges. Additional revenue comes from confirmatory testing services where samples are sent to third party laboratories and from licensing arrangements for the biosensor technology when they become active. The company sells its products directly and through distributors in the United Kingdom Europe Asia Pacific the Americas and other regions.

The company operates through the following segments:

• The Commercially Available Intelligent Fingerprinting Products segment encompasses the sale of the Intelligent Fingerprinting Drug Screening System including single use cartridges and the handheld DSR Plus reader that provides rapid drug detection results in under ten minutes. This segment serves safety critical industries such as construction transportation mining manufacturing engineering drug treatment organizations and judicial bodies.

• The Development Stage Biosensor Platform segment relates to the biosensor technology licensed from Life Science Biosensor Diagnostics Pty Ltd which aims to create printable organic thin film transistor strips for detecting multiple biological analytes in point of care tests. Development of this segment has been postponed pending the completion of the licensor’s liquidation and the reversion of intellectual property rights to the University of Newcastle.

Intelligent Bio Solutions Inc. occupies a niche in the drug testing market by offering a non invasive fingerprint sweat based alternative to traditional urine and oral fluid tests. Its competitive advantages include the speed of results the hygienic nature of the sample and the objective digital readout that eliminates user interpretation. The company faces competition from established lateral flow assay providers and larger medical device companies that offer urine or saliva based point of care tests. Its patent portfolio covering cartridge chemistry reader technology and confirmation methods provides a barrier to entry and supports its market position.

The company’s customer base consists mainly of small to medium sized businesses in safety critical sectors with over 450 accounts in the United Kingdom as of June 2025. Specific distribution partners named in the filing include Spirit Group an Australian Indigenous owned marketing and consulting agency and QabasTech the exclusive distributor in Saudi Arabia. Additional customers span construction transportation mining manufacturing engineering drug treatment and judicial organizations across Europe Asia Pacific the Americas and other regions.