Bioxyne Posts Record $21.3m Quarterly Revenue, Secures Aurora Manufacturing Deal

Record Revenue Fueled by Psychedelics and International Growth

Bioxyne Limited (ASX:BXN) has smashed its previous quarterly revenue records, reporting $21.3 million for the three months ending March 2026. This represents a 137% jump compared to the same quarter last year and a 24% increase on the prior quarter, underscoring the company’s accelerating momentum. The surge was driven by increased demand for its GMP-manufactured medicinal cannabis, MDMA, and psilocybin products, with notable contributions from expanding export sales in the UK and Germany, where revenues rose 34% quarter-on-quarter to $2.4 million.

The company’s subsidiary, Breathe Life Sciences (BLS), is capitalising on the growing psychedelics market, supplying MDMA and psilocybin to authorised prescribers and high-profile clinical trials across Australia. Initial orders for GMP-manufactured psilocybin capsules (BLSPSIL25) have been secured, intended for investigational use in treatment-resistant depression (TRD) and other mental health conditions. These orders, covering approximately 60 patients over the next year, represent only a fraction of Australia’s estimated 300,000-patient TRD market.

Strategic Manufacturing Partnership with Aurora Cannabis

Bioxyne inked a significant manufacturing agreement with Aurora Cannabis Inc., a global leader in medical cannabis, to supply GMP-certified medicinal cannabis oils in Australia. The deal will expand to include cannabis vape products for Australia, the UK, and Germany. Initial purchase orders exceed 25,000 units, expected to generate between A$3 million and A$5 million in revenue over the next 12 months as product scope and volumes grow.

This deal builds on the company’s earlier progress, following the manufacturing deal with Aurora Cannabis announced last quarter, which marked a major step in Bioxyne’s international expansion of pharmaceutical-grade cannabis products. The partnership not only strengthens Bioxyne’s manufacturing capabilities but also broadens its global footprint in key regulated markets.

Cash Flow and Operational Efficiency Amid Growth

Despite investing in working capital to support rising demand and mitigate geopolitical supply risks, Bioxyne generated a positive operating cash flow of $1.2 million this quarter. The company increased inventory and advance deposits in preparation for scaling operations. Cash on hand stood at $8.5 million at quarter-end, providing a solid buffer for ongoing expansion.

Operationally, Bioxyne is leveraging its integrated pharmaceutical manufacturing platform to boost capacity and efficiency. The company recently installed its largest secure vault, increasing active pharmaceutical ingredient storage by one third, a move that supports its growing product portfolio and regulatory compliance requirements.

FY26 Guidance and Market Expansion Prospects

Bioxyne reaffirmed its FY26 financial targets, expecting revenue between A$65 million and A$75 million and adjusted EBITDA of A$16.5 million to A$19 million. The company has already recorded A$31.3 million revenue and A$8.3 million adjusted EBITDA in the first half of FY26, indicating it is on track to meet these goals.

Looking ahead, regulatory reforms in Australia, including potential changes to medicinal cannabis driving laws, are anticipated to spur domestic growth. Internationally, Bioxyne is preparing for significant expansion with a new GMP manufacturing facility in Scotland due for completion by the end of 2026, positioning it to scale supply into the UK and German markets substantially exceeding the Australian opportunity.

While the ongoing Middle East conflict has so far had minimal impact on freight costs, Bioxyne continues to monitor geopolitical developments closely to safeguard its supply chains.