Intelligent Bio Solutions Expects Higher Q2 Revenue, Stock Up In Pre-Market

(RTTNews) - Medical technology company Intelligent Bio Solutions Inc. (INBS), Friday announced that it expects higher revenue for its second quarter. The preliminary outlook is mainly due to increased demand for its drug screening solution, and expansion into new global markets.

For the second quarter, the company expects revenue of approximately $0.76 million, up 114 percent from the prior year.

Also, for six months ended December 31, 22023, the company expects revenue of around $1.56 million, up 337 percent from last year, the company stated.

Following the announcement, the stock of Intelligent Bio Solutions is climbing 41.91 percent, to $3.41 in the pre-market activity on the Nasdaq.