Intelligent Bio Solutions Inc. Reports 118% Year-Over-Year Growth in Customer Employee Base, Reaching an Estimated Total of 1.4 Million Employees
2024年9月3日 - 9:30PM
Intelligent Bio Solutions Inc. (NASDAQ: INBS) (“INBS” or the
“Company”), a leader in non-invasive drug testing technology, today
announced significant growth in its customer employee base,
reporting a 118% fiscal year-over-year increase in the estimated
total number of employees across its customer base.
As of June 30, 2024, the estimated number of
employees within INBS’ global customer base has grown by 720,000
compared to an increase of 329,000 the fiscal year prior, bringing
the estimated total customer employee base to 1.4 million*. The
average number of global employees per new customer in the 2024
fiscal year was 6,500, more than double the average of 3,000
employees per new customer the fiscal year prior. This growth
reflects the growing interest and adoption of the Company’s
Intelligent Fingerprinting Drug Screening System, particularly in
industries with high occupational health and safety risks.
The primary industries served by INBS, and their
estimated number of employees, include Mechanical or Industrial
Engineering (258,578 employees), Construction (203,777 employees),
Building Materials (194,402 employees), Mining & Metals
(171,327 employees), Hospital & Health Care (63,751 employees),
Civil Engineering (54,602 employees), and
Transportation/Trucking/Railroad (46,130 employees).
The Intelligent Fingerprinting Drug Screening
System, which consists of the DSR Plus reader and the Fingerprint
Drug Screening Cartridge, is designed to detect the use of certain
illicit drugs within the prior 16-24 hour period to help ensure
that employees are "fit for work" and able to perform their duties
safely and effectively. Ensuring that employees are "fit for work"
is crucial in industries where worker impairment can significantly
threaten workplace safety and public health.
Harry Simeonidis, President and CEO at INBS,
commented, "The substantial growth of our customer employee base
highlights our drug screening technology’s critical role in
safeguarding workplace safety across high-risk industries. Our
ongoing mission is to work closely with our customers to identify
areas within the workforce where the risk of impairment from
illicit drug use is most concerning and help to ensure that every
employee is fit to perform their job safely."
As INBS continues to expand its reach, the
Company remains committed to providing innovative and effective
drug screening solutions for industries where safety is
paramount.
* The customer employee base estimate of 1.4
million employees was derived by aggregating publicly available
data on the total number of employees for each INBS customer. Where
employee ranges were provided, the midpoints were used for
calculation. This estimate excludes customers for whom employee
data is not publicly available. The total represents all employees
within these organizations, including those who will not be tested
using the Intelligent Fingerprinting Drug Screening System. The
Company does not have the data to incorporate the percentage of
employees tested using the Intelligent Fingerprinting Drug
Screening System at each INBS customer. The growing customer
employee base is a basic indication of the increased utilization of
the Intelligent Fingerprinting Drug Screening System. The nature of
work performed by certain employees or restrictions in specific
jurisdictions may mean that drug testing is not necessary or
applicable for all employees.
About Intelligent Bio Solutions Inc.
Intelligent Bio Solutions Inc. (NASDAQ: INBS) is
dedicated to pioneering non-invasive medical technology solutions.
Our mission is to deliver innovative, reliable, and user-friendly
products that enhance drug testing and screening processes,
ultimately contributing to safer and healthier
workplaces.
Forward-Looking
Statements
Some of the statements in this release are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act
of 1934 and the Private Securities Litigation Reform Act of 1995,
which involve risks and uncertainties. Forward-looking statements
in this press release include, without limitation, Intelligent Bio
Solutions Inc.’s ability to successfully develop and commercialize
its drug and diagnostic tests, realize commercial benefit from its
partnerships and collaborations, and secure regulatory approvals,
among others. Although Intelligent Bio Solutions Inc. believes that
the expectations reflected in such forward-looking statements are
reasonable as of the date made, expectations may prove to have been
materially different from the results expressed or implied by such
forward-looking statements. Intelligent Bio Solutions Inc. has
attempted to identify forward-looking statements by terminology,
including “believes,” “estimates,” “anticipates,” “expects,”
“plans,” “projects,” “intends,” “potential,” “may,” “could,”
“might,” “will,” “should,” “approximately” or other words that
convey uncertainty of future events or outcomes to identify these
forward-looking statements. These statements are only predictions
and involve known and unknown risks, uncertainties, and other
factors, included in Intelligent Bio Solutions’ public filings
filed with the Securities and Exchange Commission. Any
forward-looking statements contained in this release speak only as
of its date. Intelligent Bio Solutions undertakes no obligation to
update any forward-looking statements contained in this release to
reflect events or circumstances occurring after its date or to
reflect the occurrence of unanticipated events.
Company Contact: Intelligent Bio
Solutions
Inc. info@ibs.inc LinkedIn | Twitter
Investor & Media Contact: Valter
Pinto, Managing Director KCSA Strategic
Communications PH: (212)
896-1254 INBS@kcsa.com
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