Manufacturer Bioxyne said it expects to resume revenue growth in the final quarter of the financial year after an 11% decline in Q3.
It blamed “multiple” factors for the fall, including the commissioning of new equipment at its Brisbane facility and the seasonal summer slowdown.
Bioxyne, which trades as Breathe Life Sciences (BLS), said it remains on track to hit its previously stated year-end revenue guidance of A$25 million. Its nine-month revenue total – including the $7.2m generated in Q3 – sits at $19.7m, up 213% on the same period in FY24.
Chief executive Sam Watson said: “We maintain our course of sustainable, profitable growth with another solid quarter. Q3 is typically the slowest period of the year with the new year and summer holiday [and] as a business we always expect a dip in January.
“Nonetheless, customer cash receipts were up 14% from Q2 and revenue has increased 352% from Q3 FY24.”
He added: “The commissioning of our new, state-of-the-art, $50m-a-year pastille manufacturing facility and installation of our new vault will allow us to continue delivering even stronger results going forward.”
Bioxyne generated positive cash flows of $1.9m during the three months to March, building on $1.2m and $1.7m in the past two quarters.
The company raised $3m during the quarter, partly to fund European expansion, while expanding a manufacturing deal with Nectartek Australia.
It had available cash of $6.5m as at March 31.
