INTELLIGENT BIO SOLUTIONS INC. Segments Disclosure
NOTE 4. SEGMENT REPORTING
ASC 280, Segment Reporting, establishes standards for the manner in which companies report financial information about operating segments, products, services, geographic areas and major customers.
Our Segments
During the year ended June 30, 2025, the revised our reportable segments to a region-focused structure, aligning with changes in our business and organizational structure. This transition was driven by several key developments, including the end of project for the construction of a manufacturing facility in Australia during the fourth fiscal quarter of fiscal 2025 and the reversion of intellectual property rights to the University of Newcastle following the liquidation of LSBD, the former licensor. These events prompted a reassessment of the Company’s operating model and strategic priorities, resulting in the adoption of a region-based segment reporting structure that better aligns with the geographic focus of the business and how management evaluates performance and allocates resources.
The following tables set forth the Company’s revenue, government support income, net loss and long-lived assets and inventories by operating and reportable segments.
| A) | Revenue, government support income and net loss |
| Year Ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| Revenue(1) | ||||||||
| United Kingdom | $ | 2,868,027 | $ | 2,894,197 | ||||
| APAC | 29,167 | 43,955 | ||||||
| Americas | 22,638 | 11,407 | ||||||
| Rest of world | 132,700 | 162,222 | ||||||
| Total Revenue | $ | 3,052,532 | $ | 3,111,781 | ||||
| Government Support Income | ||||||||
| United Kingdom | $ | 169,208 | $ | 210,605 | ||||
| APAC | 647,693 | 214,171 | ||||||
| Total Government Support Income | $ | 816,901 | $ | 424,776 | ||||
| Net Income (Loss) (1) | ||||||||
| United Kingdom | $ | (2,933,973 | ) | $ | (3,121,128 | ) | ||
| APAC | (3,474,856 | ) | (3,286,034 | ) | ||||
| Americas | (4,300,017 | ) | (3,911,798 | ) | ||||
| Rest of world(1) | 103,960 | 128,028 | ||||||
| Total Net Loss | $ | (10,604,886 | ) | $ | (10,190,932 | ) | ||
| (1) | Comparative amounts for the prior period have been reclassified to conform to current period presentations. |
| B) | Long-lived assets and inventories, net |
| Year Ended June 30 | ||||||||
| 2025 | 2024 | |||||||
| Long-lived assets, net | ||||||||
| United Kingdom | $ | 3,906,667 | $ | 4,626,798 | ||||
| APAC | 204,497 | 617,822 | ||||||
| Americas | ||||||||
| Rest of world | ||||||||
| Total Long-Lived Assets | $ | 4,111,164 | $ | 5,244,620 | ||||
| Inventories, net | ||||||||
| United Kingdom | $ | 564,559 | $ | 731,813 | ||||
| APAC | 70,656 | 45,724 | ||||||
| Americas | ||||||||
| Rest of world | ||||||||
| Total Inventories | $ | 635,215 | $ | 777,537 | ||||
| Total Long-Lived Assets and Inventories, net | $ | 4,746,379 | $ | 6,022,157 | ||||
The Company’s segment revenue, segment expenses, segment net income (loss), and a reconciliation of the total reportable segment’s net income (loss) to the consolidated net income(loss) are as follows:
| Year ended June 30, 2025 | ||||||||||||||||||||
| United Kingdom | APAC | Americas | Rest of world | Total | ||||||||||||||||
| Revenue | $ | 2,868,027 | $ | 29,167 | $ | 22,638 | $ | 132,700 | $ | 3,052,532 | ||||||||||
| Add: Government support income | 169,208 | 647,693 | 816,901 | |||||||||||||||||
| Less: Cost of revenue (exclusive of amortization shown separately below) | (1,722,369 | ) | (41,576 | ) | (12,988 | ) | (28,740 | ) | (1,805,673 | ) | ||||||||||
| Selling, general and administrative expenses | (2,512,262 | ) | (2,928,367 | ) | (3,443,288 | ) | (8,883,917 | ) | ||||||||||||
| Development and regulatory approval expenses | (531,299 | ) | (910,031 | ) | (955,183 | ) | (2,396,513 | ) | ||||||||||||
| Depreciation and amortization | (1,168,155 | ) | (39,720 | ) | (1,207,875 | ) | ||||||||||||||
| Impairment of long-lived assets | (220,062 | ) | (220,062 | ) | ||||||||||||||||
| Other segment items (2) | (37,123 | ) | (11,960 | ) | 88,804 | 39,721 | ||||||||||||||
| Segment net income (loss) | $ | (2,933,973 | ) | $ | (3,474,856 | ) | $ | (4,300,017 | ) | $ | 103,960 | $ | (10,604,886 | ) | ||||||
| Reconciliation of net income (loss) | ||||||||||||||||||||
| Adjustment and reconciling items | ||||||||||||||||||||
| Consolidated net income (loss) | $ | (2,933,973 | ) | $ | (3,474,856 | ) | $ | (4,300,017 | ) | $ | 103,960 | $ | (10,604,886 | ) | ||||||
| (2) | Other segment items included interest income, interest expense, realized currency loss and Fair value gain on revaluation of financial instrument. |
| Year ended June 30, 2024 | ||||||||||||||||||||
| United Kingdom | APAC | Americas | Rest of world | Total | ||||||||||||||||
| Revenue (1) | $ | 2,894,197 | $ | 43,955 | $ | 11,407 | $ | 162,222 | $ | 3,111,781 | ||||||||||
| Add: Government support income | 210,605 | 214,171 | 424,776 | |||||||||||||||||
| Less: Cost of revenue (exclusive of amortization shown separately below) (1) | (1,588,698 | ) | (52,812 | ) | (10,451 | ) | (34,194 | ) | (1,686,155 | ) | ||||||||||
| Selling, general and administrative expenses | (2,983,697 | ) | (2,827,376 | ) | (3,447,423 | ) | (9,258,496 | ) | ||||||||||||
| Development and regulatory approval expenses | (421,499 | ) | (542,456 | ) | (709,851 | ) | (1,673,806 | ) | ||||||||||||
| Depreciation and amortization | (1,161,101 | ) | (40,173 | ) | (1,201,274 | ) | ||||||||||||||
| Impairment of long-lived assets | ||||||||||||||||||||
| Other segment items (2) | (70,935 | ) | (81,343 | ) | 244,520 | 92,242 | ||||||||||||||
| Segment net income (loss) | $ | (3,121,128 | ) | $ | (3,286,034 | ) | $ | (3,911,798 | ) | $ | 128,028 | $ | (10,190,932 | ) | ||||||
| Reconciliation of net income (loss) | ||||||||||||||||||||
| Adjustment and reconciling items | ||||||||||||||||||||
| Consolidated net income (loss) | $ | (3,121,128 | ) | $ | (3,286,034 | ) | $ | (3,911,798 | ) | $ | 128,028 | $ | (10,190,932 | ) | ||||||
| (1) | Comparative amounts for the prior period have been reclassified to conform to current period presentations. |
| (2) | Other segment items included interest income, interest expense, realized currency loss and Fair value gain on revaluation of financial instrument. |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.