Lexaria Bioscience Corp. LEXX
Lexaria Bioscience Corp. is a biotechnology company dedicated to the enhancement of the bioavailability of a diverse and broad range of active pharmaceutical ingredients ("APIs") using our patented DehydraTECHTM drug delivery technology. DehydraTECH combines APIs with specific long-chain fatty acid-rich triglyceride oils and carrier compounds that improve the way they enter the bloodstream, increasing their effectiveness and allowing for lower overall dosing for improved tolerability while promoting healthier oral ingestion methods.
DehydraTECH can be used with a wide range of active molecules including glucagon-like peptide-1 drugs ("GLP-1") and glucose-dependent insulinotropic polypeptide drugs ("GIP"), vitamins, pain medications, hormones, antivirals, nicotine and its analogs, and cannabinoids. Our technology can be applied to a variety of therapeutic indications, including diabetes, weight loss, epilepsy, hypertension and heart disease. DehydraTECH can be implemented in a multitude of ingestible product formats including oral suspensions, tablets, capsules, foods, beverages, and oral pouches. It is suitable for use with a variety of product formats including pharmaceuticals, nutraceuticals, over-the-counter products, and consumer packaged goods.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $705.9K | $464.3K | $226.2K | $255.4K | $722.7K | $314.8K | $222.6K | $433.3K | $63.6K | $40.7K |
| Cost of revenue | $2.7K | $4.8K | $31.5K | $71.8K | $175.3K | $99.4K | $22.9K | $25.2K | $29.8K | $45.6K |
| Gross profit | $703.2K | $459.5K | $194.7K | $183.6K | $547.4K | $215.4K | $199.7K | $408.1K | $33.9K | -$4.9K |
| R&D | $8.2M | $2.4M | $3.7M | $1.8M | $1.3M | $387.1K | $555.7K | $492.9K | $54.2K | $9.0K |
| SG&A | $4.3M | $3.9M | $3.1M | $5.0M | $5.0M | $4.0M | $297.2K | $217.7K | $129.7K | $133.7K |
| Total operating expenses | $12.6M | $6.2M | $6.7M | $6.8M | $6.2M | $4.4M | $4.4M | $7.0M | $2.0M | $1.3M |
| Operating income | -$11.9M | -$5.8M | -$6.5M | -$6.6M | -$5.7M | — | — | — | — | -$1.3M |
| Interest expense | — | $14.3K | $43.2K | — | — | — | — | — | $6.0K | $2.2K |
| Pre-tax income | -$11.9M | -$5.8M | -$6.7M | -$7.4M | -$4.2M | -$4.0M | -$4.2M | -$6.6M | -$1.9M | -$1.3M |
| Income tax | — | — | — | $0 | $6.1K | $2.3K | $17.7K | $0 | $0 | $0 |
| Net income | -$11.9M | -$5.8M | -$6.7M | -$7.3M | -$4.0M | -$4.1M | -$4.2M | -$6.6M | -$1.9M | -$1.3M |
| EPS, diluted | -0.66 | -0.47 | -1.01 | — | -0.95 | -1.47 | -0.05 | -0.09 | -0.03 | -0.03 |
| Shares, diluted (wtd. avg.) | $18.0M | $12.4M | $6.6M | — | — | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.8M | $6.5M | $1.4M | $5.8M | $10.9M | $1.3M | $1.3M | $1.7M | $2.5M | $93.4K |
| Short-term investments | $22.1K | $55.8K | $125.6K | $347.3K | $833.8K | $19.3K | $64.2K | $10.2K | — | — |
| Receivables | $368.4K | $154.5K | $126.7K | $201.8K | $342.4K | $313.9K | $273.1K | $265.8K | $45.3K | $131.1K |
| Inventory | — | — | $0 | $38.4K | $29.6K | $116.9K | $127.4K | $87.2K | $67.2K | $134.7K |
| Total current assets | $3.5M | $7.9M | $2.2M | $7.0M | $12.4M | $1.9M | $1.8M | $2.3M | $2.8M | $510.2K |
| Property, plant and equipment | $228.1K | $254.7K | $254.1K | $315.5K | $368.2K | $483.4K | $591.3K | $1.2K | $1.9K | $2.5K |
| Other intangibles | $307.8K | $516.7K | $462.6K | — | — | $292.0K | $265.1K | $146.5K | $62.8K | $54.0K |
| Total assets | $4.2M | $8.9M | $3.1M | $7.8M | $13.3M | $2.8M | $2.7M | $2.4M | $2.9M | $566.6K |
| Accounts payable | $1.5M | $1.1M | $239.9K | $151.4K | $105.5K | $86.9K | $136.4K | $35.8K | $32.6K | $90.0K |
| Total current liabilities | $1.5M | $1.1M | $267.7K | $194.0K | $153.3K | $225.9K | $184.5K | $43.6K | $92.3K | $433.9K |
| Total liabilities | $1.6M | $1.2M | $403.9K | $201.4K | $203.3K | $346.0K | $184.5K | $43.6K | $92.3K | $478.9K |
| Retained earnings | -$63.5M | -$51.6M | -$45.8M | -$39.1M | -$31.8M | -$27.8M | -$23.9M | -$19.8M | -$13.2M | -$11.3M |
| Total equity | $3.0M | $8.0M | $2.7M | $7.6M | $13.1M | $2.5M | $2.5M | $2.4M | $2.8M | $87.8K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$10.5M | -$5.0M | -$5.9M | -$4.9M | -$4.0M | -$2.6M | -$3.0M | -$2.5M | -$1.5M | -$660.9K |
| Depreciation and amortisation | $51.2K | $42.4K | — | — | $111.7K | $112.8K | $60.5K | $2.3K | $1.5K | $619 |
| Stock-based compensation | $859.5K | $492.2K | $170.4K | $752.6K | $410.0K | — | — | — | — | $122.0K |
| Capital expenditure | $24.6K | $43.0K | $33.7K | $49.2K | — | $0 | $646.2K | — | $0 | $3.1K |
| Investing cash flow | -$243.0K | -$188.6K | -$169.6K | -$180.6K | $193.9K | -$26.8K | -$769.2K | -$155.4K | -$9.7K | -$20.1K |
| Financing cash flow | $6.0M | $10.3M | $1.6M | -$44.6K | $13.4M | $2.7M | $3.3M | $1.9M | $4.0M | $514.3K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001640334-25-002225.
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