- The devices are being deployed across construction, transportation, logistics, and manufacturing sectors in the U.K. and Europe.
- The company expects additional shipments in 2026 as it prepares for U.S. market entry.
- Intelligent Bio Solutions expects to reduce annual production costs by more than 40%, which could lift gross margins by around 20 percentage points each year.
Shares of Intelligent Bio Solutions Inc. (INBS) reversed their pre-market gains to trade 2% lower on Wednesday, after the company announced the rollout of the first shipment of its Intelligent Fingerprinting Drug Screening Readers produced under a new manufacturing partnership with Syrma Johari MedTech.
The devices are being deployed across construction, transportation, logistics, and manufacturing sectors in the U.K. and Europe. Intelligent Bio Solutions also doubled its in-house production capacity for test strips. The company expects additional shipments in 2026 as it prepares for U.S. market entry.
Expanded Capacity To Boost Margins
The company has added advanced manufacturing equipment, increasing its cartridge output, enabling Intelligent Bio Solutions to develop expanded drug-testing panels for different customer and regulatory needs.
The medical technology company said its manufacturing capacity is now about four times higher than before. As a result, it expects to reduce annual production costs by more than 40%, which could lift gross margins by around 20 percentage points each year.
“We are building a vertically integrated, cost-efficient manufacturing engine that supports margin expansion, accelerates innovation, and positions us to enter the U.S. market with operational strength and the capacity to grow with demand,” said Callistus Sequeira, VP of Global Quality & Operations at Intelligent Bio Solutions.
Earlier this month, INBS reported a 48% increase in second-quarter (Q2) revenue to $896,774, driven by a 104% surge in reader sales.
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Year-to-date, INBS stock is down 47%
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