Quarterly ResultMay 13, 2026, 08:37 AM
Intelligent Bio Solutions Q3 Net Loss $(2.86M); Going Concern Doubt
AI Summary
Intelligent Bio Solutions Inc. reported a net loss of $(2,869,640) for the three months ended March 31, 2026, an increase from $(2,550,674) in the prior year, despite revenue growing to $1,060,802. The company also disclosed substantial doubt about its ability to continue as a going concern, citing insufficient cash to fund operations for the next 12 months. As of March 31, 2026, cash and cash equivalents stood at $6,862,204, significantly bolstered by $14.67 million in financing activities during the nine-month period.
Key Highlights
- Management identified substantial doubt about Intelligent Bio Solutions' ability to continue as a going concern for the next 12 months.
- Net loss for the three months ended March 31, 2026, was $(2,869,640), compared to $(2,550,674) in the prior year.
- Revenue for the three months ended March 31, 2026, increased to $1,060,802 from $728,867 year-over-year.
- Net loss per share for the three months ended March 31, 2026, was $(1.80), an improvement from $(4.41) in the prior year.
- Cash and cash equivalents were $6,862,204 as of March 31, 2026, up from $1,019,909 as of June 30, 2025.
- Net cash provided by financing activities for the nine months ended March 31, 2026, was $14,671,717.
- A 1-for-10 reverse stock split was effected on December 15, 2025.
- Accumulated deficit reached $71,056,373 as of March 31, 2026.