Bioxyne Surges with Record $14.1M Q1 Revenue, Eyes European Expansion

Strong Revenue Growth and Strategic Investments

Bioxyne Limited (ASX – BXN), an Australian life sciences and pharmaceutical company, has delivered a standout performance in the first quarter of FY26, reporting record revenue of A$14.1 million. This represents a remarkable 210% increase compared to the same quarter last year and a 47% rise from the previous quarter. The surge is largely attributed to the robust growth of its subsidiary, Breathe Life Sciences (BLS) Australia, which expanded manufacturing capacity and diversified product offerings including cannabis flower, pastilles, vapes, and oils.

To support this growth trajectory, Bioxyne made significant investments in cannabis flower inventory, increasing stock from A$3.6 million to A$6.1 million. This inventory build-up, alongside an increase in other working capital by A$1.5 million, resulted in an operating cash outflow of A$4.1 million despite cash receipts of nearly A$13 million during the quarter.

European Market Penetration and Frankfurt Listing

Europe, particularly Germany, emerged as a key growth market with purchase orders totaling A$5.1 million in the quarter. Of this, A$2.2 million was invoiced in Q1, with the remainder expected in Q2, and further re-orders anticipated in Q3 FY26. The company’s first major shipment to Adrex Pharma in Germany marks a significant milestone in its international expansion strategy.

Supporting this European push, Bioxyne successfully completed a dual listing on the Frankfurt Stock Exchange in October 2025, trading under the ticker PR8.F. This move not only enhances the company’s visibility in Europe but also aligns with the continent’s rapidly growing legal cannabis market, projected to exceed €1 billion in sales by 2026.

Regulatory Tailwinds and Operational Outlook

Bioxyne is well positioned to benefit from positive regulatory developments. In the United States, potential rescheduling of cannabis from Schedule 1 to Schedule III could unlock broader research opportunities and ease financial constraints. Meanwhile, Germany’s evolving regulations around patient access and delivery systems are expected to favor Bioxyne’s established partnerships.

Operationally, the company invested an additional A$0.25 million in capital expenditure to enhance security and infrastructure, preparing for expanded manufacturing and distribution in the UK and Europe. Cash on hand stood at A$4.5 million at quarter-end, excluding a pending A$1.1 million R&D tax refund, with management confident in meeting FY26 guidance of A$65-75 million in revenue and A$11.5-13.5 million in underlying EBITDA.

Building a Platform for Sustained Growth

CEO Sam Watson highlighted the quarter as a foundational period, emphasizing investments in quality control, personnel, and systems to support scaling. The company’s focus on securing EU GMP certification in Czechia and expanding its medicinal cannabis sales through local partners underscores its commitment to long-term growth in Europe and beyond.