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Paul Prescott Just Put Intelligent Bio Solutions Inc. (Nasdaq: INBS) On Our Watchlist This Morning—Wednesday, February 25, 2026
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February 25, 2026
Breaking Now | (INBS) Pops Approx. 41% On Manufacturing Milestone News Dear Reader, (INBS) is moving fast this morning. After just announcing it has successfully manufactured and shipped its first fingerprint screening readers under its new Syrma Johari partnership, shares of Intelligent Bio Solutions (INBS) tapped $5.22 — marking an approximate 41% early move from yesterday's $3.70 range. This update isn't just symbolic. The company confirmed: - First shipment delivered and deployed
- Manufacturing capacity expanded to 4x prior levels
- Over 40% annual production cost savings on track
- Expected 20 percentage point annual gross margin improvement
- Doubled in-house lateral flow test strip production
In short — this validates scale, strengthens commercial readiness, and reinforces preparation for planned U.S. entry later this year. This is the kind of operational milestone that can materially shift the narrative — especially in a name with a tight share structure and accelerating revenue momentum. The market clearly noticed. If you missed my earlier email coverage, keep reading to quickly get up to speed on why we're so excited to be highlighting (INBS) today. ===== At Street Ideas, we track the stories that start to surface before they're obvious—when the data, key potential catalysts, and the setup begins lining up in plain sight. These are the situations where the early signals show up in the details, long before the broader crowd connects the dots. Intelligent Bio Solutions Inc. (Nasdaq: INBS) is a medical technology company focused on a faster, simpler way to screen for dru-g use. Instead of urine or saliva tests, its system uses a fingerprint and a small amount of sweat to deliver results in under 10 minutes—without invasive procedures or specialized facilities. That's why (INBS) is sitting at the top of the Street Ideas watchlist this morning—Wednesday, February 25, 2026. But keep in mind, (INBS) has fewer than 2M shares listed as available to the public. When companies have small floats like this, the potential exists for big swings if demand begins to shift. And we're not the only ones taking a closer look. In a report published yesterday, February 24, Ladenburg Thalmann analyst Jeffrey S. Cohen maintains a $12.00 target, suggesting over 200% upside potential from recent levels. 
As the business continues to expand commercially, that structure can magnify the impact of new developments. The company is also showing clear signs of progress. Record Q2 Results: Revenue +48%, Reader Sales +104% Year-Over-Year
(INBS) reported record fiscal second quarter 2026 results, highlighting accelerating commercial traction and expanding deployment of its fingerprint-based screening platform. For the three months ended December 31, 2025, total revenue reached $896,774, representing a 48% year-over-year increase. Reader sales more than doubled, surging 104% year-over-year to $246,519, significantly expanding the company's installed base. Cartridge sales rose 33% year-over-year to $516,754, reinforcing the strength of its recurring revenue model. For the six months ended December 31, 2025, total revenue surpassed $2M, up 36% year-over-year. Reader sales increased 50%, while cartridge sales climbed 38%, with consumables accounting for approximately 58% of total revenue. Gross pro-fit margins for the first half of fiscal 2026 improved to 49%, up 10 percentage points year-over-year, reflecting improved operational efficiency and growing leverage as revenue scales. The company also strengthened its balance sheet, reporting $12.17M in current assets as of December 31, 2025, including $9.40M in proceeds received in early January from a private placement to support regulatory advancement and commercial expansion. Management emphasized that the sharp increase in reader placements builds the foundation for future cartridge demand, reinforcing the company's hardware-plus-consumables model as it advances toward planned U.S. market entry. And here's the key point: this wasn't a one-off headline—it's been part of a steady drumbeat of updates that keep adding fuel to the story. Over the past several weeks, (INBS) has stacked multiple company milestones and third-party validations that help explain why attention has started to build quickly. Below is a quick snapshot of the most recent news flow pushing that momentum forward:
February 24, 2026 – Partnership with Bouygues UK Validates
Enterprise Scalability
(INBS) partnered with Bouygues UK—part of a global construction group employing 35,600 people across 50+ countries—beginning with a 13-site rollout that underscores commercial scalability and real-world adoption in major infrastructure environments. February 12, 2026 – Record Quarter: Revenue +48%,
Reader Sales +104%
(INBS) followed through with record fiscal Q2 results, reporting 48% revenue growth and a 104% year-over-year surge in reader sales, highlighting expanding deployment and increasing demand for its platform. February 5, 2026 – Q2 Revenue Expected to Surge 48%
Year-Over-Year
(INBS) announced it expects fiscal second quarter revenue growth of approximately 48% year-over-year, surpassing $2M in total revenue for the first half of fiscal 2026—an early signal of accelerating commercial traction. January 28, 2026 – Additional Clinical Studies Advance
FDA 510(k) Submission (INBS) initiated additional clinical studies to support its FDA 510(k) pathway, reinforcing its preparation for a massive U.S. market and signaling continued regulatory progress. New Strategic Partnership Expands Wearable Health Monitoring Reach
(INBS) recently announced a non-exclusive strategic partnership with Vlepis, an Australian medical and wellbeing technology company specializing in advanced sensing and wearable patch technologies. The collaboration is aimed at supporting joint R&D, expanding distribution, and leveraging regulatory expertise to accelerate international adoption of non-invasive testing and monitoring solutions. Vlepis' wearable technology and software platforms complement (INBS)'s existing portfolio—including its fingerprint-based screening system and SmarTest® monitoring patch—while opening the door to connected wearables, cloud-based platforms, and mobile health applications that could broaden use cases beyond traditional screening environments. Alongside this partnership, other developments remain in focus, including progress toward FDA 510(k) clearance in the U.S., continued international customer growth, the rollout of a continuous monitoring patch, and improving efficiency as recurring consumable sales increase. At the same time, the global dr-ug screening market is expanding rapidly, projected to grow roughly 270%—from about $10.55B in 2025 to nearly $39.32B by 2034. 
Within this growing landscape, (INBS) differentiates itself through faster results, simpler deployment, and lower overall testing costs compared to traditional methods. As key regulatory and commercial milestones draw closer, the company's unusually small share structure adds an extra layer of focus on what unfolds next. Company Overview
Founded in 2016, Intelligent Bio Solutions develops non-invasive dr-ug testing through proprietary fingerprint sweat analysis. The idea behind the company's approach is simple: make dr-ug screening faster, easier, and less intrusive than traditional methods. Instead of relying on samples that require special handling or long wait times, the company designed a system that fits seamlessly into real-world settings. How the Technology Works
(INBS)'s core testing system uses a fingerprint to screen for recent dr-ug use. Instead of providing a urine or saliva sample, a person simply places a fingertip on a small cartridge for about five seconds. That cartridge is then inserted into a handheld reader, which delivers results in under 10 minutes. 
The system is designed to identify recent use of substances such as opiates, co-ca-ine, me-thamp-heta-mine, can-nab-is, and ben-zo-di-azep-ines. Because it analyzes sweat from the fingerprint, it focuses on recent activity—typically within the past 16 to 24 hours—rather than detecting older history. Why It's Different from Traditional Tests
Compared with urine or saliva testing, this approach is faster, simpler, and easier to deploy. Results are available in minutes instead of hours, the process is non-invasive, and testing can be done on-site without the need for specialized facilities. On an annual basis, the overall cost is also lower than many traditional testing methods. SmarTest® Continuous Monitoring Patch
In addition to fingerprint testing, the company has introduced the SmarTest® Patch, a wearable device designed for longer-term monitoring. The patch collects sweat over a 7 to 10 day period and can detect substances such as fen-tan-yl, co-ca-ine, and opiates. This product was launched in Q1 FY2026 and opens the door to use cases that require ongoing observation rather than one-time screening. 
Customer Base and Target Markets
Current Deployment (480+ Active Accounts): Safety-critical industries including construction, manufacturing, transportation/logistics, mining, maritime, electrical/electronic manufacturing, dr-ug treatment organizations, corrections facilities, government administration. Geographic Distribution: UK (strongest growth market), Europe, Middle East, Asia Pacific. Currently operates primarily outside the U.S. under Forensic Use Only designation domestically. Target Expansion Markets:
- Government: Border security, customs, defense, state agencies, emergency responders
- Law Enforcement/Corrections: Roadside testing, probation/parole monitoring, court-mandated programs
- Workplace: Expanding beyond current safety-critical focus into broader corporate testing
U.S. Market Potential: Over 70% of those abusing dru-gs in the U.S. are employed. Dru-g test positivity post-accident has climbed over the past five years. Global dr-ug screening market value is expected to top $39B within the next decade. FDA 510(k) Clearance: Gateway to U.S. Market
(INBS) advancing toward FDA 510(k) clearance in H2 2026—unlocking the massive U.S. workplace dr-ug testing market. Progress (September 2025 Update): Initial 510(k) submitted December 2024. FDA engaged with 70+ item Additional Information requests (standard process). The company submitted responses in August 2025. Proactively initiating additional clinical studies (complete H1 2026). FDA clearance on track for H2 2026.
Over 70% of U.S. substance abusers are employed. dr-ug test positivity post-accident rising. INBS's superior technology (faster, cheaper, non-invasive, recent impairment focus) positioned to capture market share from legacy urine/saliva once approved. Strategic Advantage: Unlike competitors with unproven technology, INBS brings 1,700+ deployed readers and 480+ customer relationships demonstrating real-world validation. FDA clearance could convert international success into an immediate U.S. market. Major Upcoming Potential Catalysts
- FDA 510(k) Clearance (H2 2026): Unlocks massive U.S. workplace market. 1,700+ international readers prove technology—FDA clearance converts global success into a domestic opp.
- Customer Acceleration: Added 33 accounts Q1 (50% YoY growth). Network effects from early adopters drive accelerating additions.
- Margin Expansion: Consumable mix 57.6% (up from 51.1%) with higher margins. Gross margins expanding toward 50%+ with a clear pro-fit-ability pathway.
- SmarTest Patch: Continuous 7-10 day monitoring opens new markets—probation/parole, rehabilitation, clinical trials, workplace monitoring.
- Distribution Expansion: SMARTOX partnership plus 18 distributors create global infrastructure. Geographic expansion (Middle East, Asia Pacific) accelerating with minimal capital.
- Enterprise Deployments: 4,400-staff UK provider and 14-site London transport validate large-scale capability—opening Fortune 500 pipeline post-FDA.
7 Reasons Why (INBS) Is Topping Our Watchlist This Morning
—Wednesday, February 25, 2026. 1. Small Float: With fewer than 2M shares available to the public, (INBS)'s small float could see the potential for big moves if demand begins to shift. 2. Analyst Target: Following a February 24 report citing a $12 target implying 200%+ upside potential, (INBS) has drawn fresh third-party validation. 3. Revenue Surge: After posting 48% year-over-year quarterly growth, (INBS) is demonstrating measurable acceleration in commercial activity. 4. Operational Expansion: With reader sales climbing 104% year-over-year, (INBS) is rapidly expanding the installed base that drives recurring cartridge demand. 5. Margin Strength: Reporting 49% gross margins for the first half of fiscal 2026, (INBS) is showing improving operational efficiency as revenue scales. 6. Enterprise Validation: Through a 13-site rollout with Bouygues UK, (INBS) is proving scalability within a global construction group operating in 50+ countries. 7. FDA Momentum: By initiating additional clinical studies supporting its FDA 510(k) pathway, (INBS) is advancing toward planned entry into the large U.S. workplace screening market. Full Coverage Is Starting Right Now—Pull Up (INBS) While It's Still Early…
When you step back and look at the full picture, (INBS) checks several boxes that tend to pull serious attention. The share structure is razor-thin, recent analyst coverage has added a new layer of visibility, and real-world adoption is already in place across hundreds of customers internationally. Add in a rising base of repeat cartridge sales, a record quarter that marked three straight periods of growth, and a fresh push into wearable health monitoring—and it's easy to see why this story is building momentum heading into year-end. With global screening demand projected to expand sharply over the next decade, (INBS) is operating in a landscape that's getting bigger—and moving faster. We have all eyes on (INBS) this morning—Wednesday, February 25, 2026. Take a look at (INBS) while it's still early. Also, keep a lookout for my next update, it could be here very soon. Sincerely, Paul Prescott
Co-Founder & Managing Editor
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