Intelligent Bio shares rise 10.62% intraday after reporting record Q1 2026 revenue, 32% sequential, 28% YoY growth driven by new customers and cartridge/reader sales.

Intelligent Bio Solutions Inc. surged 10.62% intraday after disclosing preliminary unaudited fiscal Q1 2026 revenue of over $1 million, a 32% sequential and 28% year-over-year increase driven by new customer acquisitions and robust cartridge and reader sales. Cartridge revenue rose 43% YoY, while reader revenue grew 23% YoY, reflecting the company’s razor-razorblade business model and expanding high-margin consumables sales. The third consecutive quarter of revenue growth, highlighted as a “significant milestone” by CEO Harry Simeonidis, underscored market confidence in the firm’s non-invasive drug-testing technology and international customer expansion. The results, though preliminary and subject to adjustment, aligned with the intraday price spike, as investors reacted positively to the strong demand and recurring revenue trajectory ahead of the November 10 Form 10-Q filing.