Summary by Moomoo AI
Intelligent Bio Solutions Inc. (INBS) reported its financial performance for the quarter ended September 30, 2024. The company saw an increase in revenue to $872,287, up from $796,094 in the same period the previous year. Cost of revenue decreased slightly, resulting in a gross profit of $346,801, a significant improvement from $232,331 year-on-year. Government support income also rose to $126,128. However, operating expenses remained high, with selling, general and administrative expenses at $1,949,016, and development and regulatory approval expenses increasing substantially to $948,752 due to investments in FDA 510(k) clinical study plans. The company incurred a net loss of $2,694,799, slightly higher than the previous year's $2,432,424. As of November 4, 2024, INBS had 4,386,816 shares of common stock issued and outstanding. The company's liquidity position included cash and cash...Show More
