Intelligent Bio Solutions Inc. Reports $10.6 Million Net Loss for Fiscal Year 2023
Records Revenue of $1.26 Million in its First Year of Operations
Intelligent Bio Solutions Inc.(INBS), a biotechnology company focused on c utting-edge research and development, has released its Condensed Consolidated Balance Sheets and Statements of Operations for the fiscal year ending on June 30, 2023. The financial data showcases the company's performance during its inaugural year of operations, revealing both its revenue and net income/loss figures.
Net Loss of $10.6 Million Marks Company's First Year
Intelligent Bio Solutions Inc. reported a net loss of $10.6 million for the fiscal year 2023. This financial result highlights the challenges and investments associated with the company's pioneering efforts in the biotechnology sector. The net loss reflects various operating expenses, including selling, general and administrative expenses, development and regulatory approval expenses, and significant impairment charges.
