Bioxyne Limited has reported a record $17.2 million in quarterly revenue, driven by strong growth in its cannabis and psychedelics segments, alongside strategic international expansions including a Frankfurt dual listing and new manufacturing agreements.
- Record $17.2 million quarterly revenue, up 21% from prior quarter
- Positive operating cash flow of $2.5 million in Q2 FY26
- Dual listing on Frankfurt Stock Exchange enhances European market access
- Exclusive Curaleaf agreement for Que Medical Inhalation Device in Australia
- First Australian-made GMP-compliant MDMA capsules supplied for clinical trials
Strong Financial Performance and Growth Drivers
Bioxyne Limited (ASX, BXN) has delivered a standout performance in the second quarter of fiscal 2026, posting record quarterly revenue of $17.2 million, a 21% increase from the previous quarter and more than double the revenue from Q2 FY25. This surge reflects robust demand across its diversified portfolio, particularly in the medicinal cannabis and psychedelics segments.
Positive operating cash flow of $2.5 million underscores the company’s improving financial health, supported by a $1.1 million research and development tax offset. Inventory levels rose to $11.5 million as Bioxyne prepares to meet anticipated demand in the second half of the calendar year, signalling confidence in sustained growth.
Strategic International Expansion and Partnerships
Bioxyne’s strategic footprint expanded notably with its successful dual listing on the Frankfurt Stock Exchange in October 2025, trading under ticker PR8.F. This move aims to boost liquidity and attract European investors, particularly as Germany’s medicinal cannabis market continues to evolve with regulatory reforms.
The company also inked an exclusive agreement with Curaleaf International to import, manufacture, and distribute the Que Medical Inhalation Device (QMID) in Australia. This CE-certified medical device offers precise dosing of liquid cannabis inhalants, differentiating Bioxyne’s product offering and opening a recurring revenue stream through device and cartridge sales.
Further international growth is evidenced by a manufacturing and supply agreement with Remidose, targeting emerging medicinal cannabis markets in Costa Rica and Panama. Pending regulatory approvals, this deal could generate over A$1 million annually, positioning Bioxyne as a first mover in Central America.
Pioneering Psychedelic Medicines and Manufacturing Capacity
Bioxyne has broken new ground in Australia by releasing the country’s first domestically manufactured GMP-compliant MDMA capsules, supplying over 400 patient doses for clinical trials targeting treatment-resistant PTSD and borderline personality disorder. This milestone reduces reliance on imports amid growing demand for psychedelic-assisted therapies.
In the UK, Bioxyne secured £848,250 in non-dilutive funding to establish a new GMP manufacturing facility in the Scottish Borders, with site fit-out and regulatory licensing applications underway. This facility will bolster the company’s capacity to serve the UK medicinal cannabis market and support its European ambitions.
Regulatory Tailwinds and Industry Recognition
Positive regulatory developments in key markets are aligning with Bioxyne’s strategic positioning. The potential US rescheduling of cannabis to Schedule III, ongoing reforms in Germany, and the UK’s evolving medicinal cannabis framework are expected to enhance market access and patient uptake.
Bioxyne’s rapid growth was recognised in the Deloitte Technology Fast 50 Australia 2025, ranking the company for a remarkable 452% revenue increase over three years in the Healthcare Technology and Life Sciences category.
Outlook and Management Strengthening
CEO Sam Watson emphasised the company’s disciplined operating model and strong balance sheet as foundations for meeting FY26 guidance of $65–75 million in revenue and $11.5–13.5 million in underlying EBITDA. The recent appointment of Paul Mitchell as CFO of Breathe Life Sciences further strengthens financial oversight amid rapid expansion.
Looking ahead, Bioxyne plans to focus on scaling UK and European operations, securing EU GMP certification, and expanding its medicinal cannabis and psychedelics sales through local partnerships. Operational efficiencies and supply chain optimisation remain priorities as the company navigates a dynamic regulatory landscape.
Bottom Line?
Bioxyne’s record quarter and strategic expansions set the stage for a pivotal year, but regulatory and market execution will be key to sustaining momentum.
Questions in the middle?
- How quickly will regulatory approvals in Central America and the UK translate into revenue?
- What impact will the US cannabis rescheduling have on Bioxyne’s market access and partnerships?
- Can Bioxyne manage inventory growth effectively to avoid overstock risks amid demand uncertainties?