Intelligent Bio Solutions Inc.
INBS Healthcare Medical Devices
Intelligent Bio Solutions Inc.’s revenue for fiscal 2026 (year ended June 2026) was $4.2 million, up 38.1% from fiscal 2025. In the quarter to June 2026, revenue grew 51.1%, EPS grew 78.1% and free cash flow fell 31.6%, each against the same quarter a year earlier.
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Intelligent Bio Solutions Inc. (INBS) Beneish M-score
Intelligent Bio Solutions Inc.'s Beneish M-score for fiscal 2026 is −2.45; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.45 | 0.20 |
| FY2025 | −2.65 | (0.39) |
| FY2024 | −2.27 | (3.17) |
| FY2023 | 0.91 | 5.75 |
| FY2022 | −4.84 | (25.25) |
| FY2021 | 20.41 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.90 | — | 0.83 | |
| Gross margin index | 0.84 | — | 0.44 | |
| Asset quality index | 0.81 | — | 0.33 | |
| Sales growth index | 1.38 | — | 1.23 | |
| Depreciation index | 1.04 | — | 0.12 | |
| SG&A index | 0.85 | — | −0.15 | |
| Total accruals to total assets | (0.05) | — | −0.21 | |
| Leverage index | 0.64 | — | −0.21 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.45 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| TRIB Trinity Biotech PLC compare | −4.3× |
| VNRX VolitionRX Limited compare | −4.1× |
| TBIO Telesis Bio Inc. compare | −2.9× |
| INBS Intelligent Bio Solutions Inc. | −2.5× |
| WOK WORK Medical Technology Group LTD compare | −1.7× |
| VVOS Vivos Therapeutics, Inc. compare | −1.4× |
| CODX Co-Diagnostics, Inc. compare | 2.2× |
| AMIX Autonomix Medical, Inc. compare | — |
| NVNO enVVeno Medical Corporation compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI