Alternative medicine manufacturer Bioxyne generated unaudited revenue of A$29.3 million in FY25, exceeding guidance by $1.3m.
The performance was bolstered by a strong fourth quarter which delivered revenue of $9.5m, up more than 200% on the previous corresponding period and 33% higher than Q3.
The company reported positive cash flow in the three months to June of $1.5m, taking the 12-month total to $6.2m.
The majority of the revenue was generated by its manufacturing division, Breathe Life Sciences, whose Brisbane-based facility produces medicinal cannabis, MDMA and psilocybin.
Chief executive Sam Watson said the company was well placed to deliver further growth in FY26 through continuing expansion in Australia and via growth in the UK and European markets, Germany in particular.
Bioxyne struck a $5.6m manufacture and supply agreement last month with Germany-based supplier Farmakem and distributor Adrex Pharmaceuticals to mark its entry into Europe’s biggest market.
The deal will “underpin growth going into FY26,” Watson said.
“The agreement with Farmakem and Adrex will add significant strength to our EU/UK operations,” he added. “Initial supply will be from Australia pending the establishment of manufacturing operations in the EU/UK which is at an early stage.
“We anticipate several further additional contracts to be entered into within the region as we continue to scale up operations throughout Europe and the UK.”
Additional contracts being negotiated in Australia and overseas will also drive revenue growth, he said.
Bioxyne had $7.6m of available cash at the end of June.