Bioxyne’s Q2 FY26 Revenue Jumps 21% to $17.2 Million on Cannabis and MDMA Growth

Strong Financial Performance

Bioxyne Limited (ASX – BXN) has delivered a standout performance in the second quarter of fiscal 2026, reporting record quarterly revenue of $17.2 million. This represents a 21% increase over the previous quarter and more than doubles the revenue from the same period last year. The company also reported $18.4 million in cash receipts and a positive operating cash flow of $2.5 million, underscoring robust operational momentum.

The growth was largely driven by Bioxyne’s subsidiary, Breathe Life Sciences (BLS), which saw increased demand across its medicinal cannabis portfolio, including flower, oils, vapes, and the newly launched Que Medical Inhalation Device (QMID). Early contributions from the psychedelics segment, particularly MDMA supplies, further bolstered revenue.

Strategic International Expansion

In October 2025, Bioxyne completed a dual listing on the Frankfurt Stock Exchange, trading under the ticker PR8.F. This move aims to enhance liquidity and provide European investors with easier access to the company’s shares, aligning with its focus on expanding in the rapidly growing European medicinal cannabis market.

Further international growth was supported by a new exclusive agreement with Curaleaf International to import, manufacture, and distribute the QMID device in Australia. This device, the first EU CE-certified Class IIa medical device for liquid cannabis inhalants, offers precise dosing and is expected to generate recurring revenue streams through device and cartridge sales.

Bioxyne also secured 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 these Central American markets.

Psychedelics and Clinical Milestones

Bioxyne marked a significant milestone by releasing Australia’s first domestically manufactured GMP-compliant MDMA capsules. These capsules have been supplied for clinical trials in Victoria and to authorised prescribers in Queensland, fulfilling orders for over 400 patient doses. A second shipment supported a public health trial at Eastern Health’s Box Hill Hospital, focusing on treatment-resistant PTSD co-occurring with borderline personality disorder.

This development positions Bioxyne at the forefront of the emerging psychedelic therapeutics market, which is projected to reach AUD 14 billion globally by 2032. The company’s pioneering role reduces reliance on imports and taps into growing demand for innovative mental health treatments.

Investment in Manufacturing and Regulatory Progress

Bioxyne secured £848,250 (approximately A$1.6 million) in non-dilutive funding from South of Scotland Enterprise to establish a new GMP manufacturing facility in the Scottish Borders. This facility will support the UK medicinal cannabis market and is expected to be operational following site fit-out and licensing in 2026.

Regulatory developments in key markets continue to support Bioxyne’s growth. In the US, cannabis rescheduling to Schedule III is progressing, opening research and market opportunities. Germany’s reforms have de-narcotised medicinal cannabis, improving patient access, while the UK is reviewing its medicinal cannabis framework to enhance prescription rates.

Outlook and Guidance

CEO Sam Watson highlighted the company’s disciplined operating model and strong balance sheet as key enablers for continued growth. Bioxyne remains on track to meet its FY26 guidance of $65–75 million in revenue and $11.5–13.5 million in underlying EBITDA. The company plans to focus on expanding international operations, improving supply chain efficiencies, and scaling its medicinal cannabis and psychedelics sales with local partners.