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

Robust Revenue Growth Signals Strong Market Demand

Bioxyne Limited (ASX, BXN), an Australian pharmaceutical company specialising in medicinal cannabis and alternative therapeutics, has delivered a standout performance in the first quarter of FY26. The company reported record quarterly revenue of $14.1 million, marking a 210% increase compared to the same period last year and a 47% rise from the previous quarter. This surge is primarily attributed to the strong sales of cannabis flower, vapes, pastilles, and oils through its wholly owned subsidiary, Breathe Life Sciences (BLS).

Strategic Investments to Support Growth Trajectory

To sustain this momentum, Bioxyne invested heavily in inventory and working capital, with a notable $2.5 million allocated to cannabis flower procurement. This move aims to meet the escalating demand from European markets, where BLS is expanding its footprint. The company’s inventory on hand rose significantly to approximately $6.1 million, up from $3.6 million in the previous quarter, reflecting a proactive approach to supply chain readiness.

International Expansion and Regulatory Progress

Bioxyne’s international ambitions are underscored by its recent dual listing on the Frankfurt Stock Exchange, enhancing its access to European capital markets. The company is advancing plans for manufacturing operations and regulatory approvals in the UK and the European Union, including efforts to secure GMP certification in Czechia. These developments position Bioxyne to capitalize on growing acceptance and regulatory support for controlled substances such as medicinal cannabis, psilocybin, and MDMA in key jurisdictions.

Financial Outlook and Operational Highlights

Despite a $4.1 million cash outflow from operating activities, largely due to inventory build-up and working capital investments, Bioxyne generated strong cash receipts of $12.9 million during the quarter. The Board has reaffirmed its FY26 guidance, targeting revenue between $65 million and $75 million and underlying EBITDA ranging from $11.5 million to $13.5 million. These targets are supported by the company’s robust Q1 performance and ongoing operational enhancements, including improvements to ERP systems to manage growth across Australia, the UK, and Europe.

Positioning for Continued Growth

Bioxyne’s strategic focus on expanding its manufacturing capabilities, particularly in clean room facilities, and its proactive engagement with regulators signal a company preparing for sustained growth. The successful first major sale in Germany, amounting to A$2.2 million, exemplifies the tangible progress in penetrating European markets. As the company navigates the evolving regulatory landscape and scales its operations, it remains well-positioned to leverage the expanding global demand for alternative therapeutics.