• 171% increase in revenue to $12.6m, driven by rapid scale-up of medicinal cannabis manufacturing
• Achieved $3.3m profit, a turnaround from $12.4m loss in H1 FY24
• Secured $47.5m pipeline of purchase orders from key clients

Bioxyne Limited, an Australian life sciences company, has reported record revenue of $12.6m for the half-year ended 31 December 2024, a 171% increase from the prior corresponding period. The strong performance was driven by rapid scale-up of the company's medicinal cannabis manufacturing business, which has been underpinned by several major contracts totaling $47.5m in contracted purchase orders from key clients. Bioxyne's Breathe Life Sciences subsidiary, which holds the company's GMP licenses to manufacture medicinal cannabis, MDMA, and psilocybin products, has seen substantial demand growth in its pastille products, as well as cross-selling to existing customers and expanding its customer base in Australia and overseas markets. The company has also expanded its pharmaceutical services business, including import, export, storage, and distribution of controlled drugs and medical products. Bioxyne's probiotic business also saw a 27% year-over-year sales increase. The company achieved a record $3.3m profit for the half-year, a turnaround from the $12.4m loss in H1 FY24, which included a $11.6m non-cash goodwill write-off. Bioxyne invested around $1.3m in the half-year to increase its manufacturing capacity, which is expected to drive further revenue growth in the second half of FY2025.

Bioxyne provided revenue guidance of $25 million for the full year ending 30 June 2025, based on revenue achieved to date and expected growth from its manufacturing and pharmaceutical services business, expansion of its Dr Watson® branded products in Australia, and the launch of Dr Watson® and Breathe Life Sciences branded medicinal cannabis products in the UK and European markets.

Bioxyne is focused on becoming the 'go to' manufacturer and wholesaler of novel medicines, building an 'Amazon-like' hub for wholesale pharmaceutical services throughout the supply chain in Australia, Europe, the UK, and eventually Japan. The company is well-positioned to capitalize on the growing demand for medicinal cannabis, MDMA, and psilocybin products, as well as its probiotic and consumer health product lines.