IXHL

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Incannex Healthcare Inc.

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Key Metrics

Previous Close: $3.44
52-Week Range: $2.49 – $27.69
Market Cap: $43.31M
P/E (TTM): —
EPS (TTM): -16.62
Dividend Yield: —

Advanced Metrics

Price/Book: 0.66
PEG Ratio: —
Return on Equity: -117.17%
Return on Assets: -32.19%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 41.56
Debt/Equity: 0.00
Total Debt: $114.00K
Free Cash Flow: $-8.27M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $-33.18M

IXHL Income statement, annual periods, in AUD
AUD	FY2022	FY2023	FY2024	FY2025
Revenue	$0.00	$0.00	$12.00K	—
Cost of Revenue	$4.36K	$0.00	—	—
Gross Profit	-$4.36K	$0.00	—	—
Research & Development	$3.70M	$6.31M	$12.88M	—
Selling, General & Admin	$7.00M	$7.92M	$17.07M	—
Operating Expenses	$10.16M	$13.64M	$18.62M	—
Operating Income	-$10.16M	-$13.64M	-$18.61M	—
EBITDA	-$10.16M	-$13.55M	-$18.33M	—
Pretax Income	-$10.25M	-$48.81M	-$18.43M	—
Income Tax	$0.00	$0.00	$30.00K	—
Net Income	-$10.25M	-$48.81M	-$18.46M	—
Diluted EPS	-1.03	-1.03	-34.50	-40.50
Diluted Shares	9.93M	12.81M	538811	1.15M

IXHL Balance Sheet statement, annual periods, in AUD
AUD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$25.80M	$22.12M	$5.86M	—
Receivables	$219.33K	$191.00K	$10.02M	—
Current Assets	$26.06M	$23.00M	$16.20M	—
Total Assets	$26.06M	$23.78M	$17.05M	—
Current Liabilities	$1.38M	$2.55M	$5.62M	—
Total Debt	$0.00	$521.00K	$373.00K	—
Total Liabilities	$1.38M	$2.96M	$5.83M	—
Retained Earnings	-$40.45M	-$92.21M	-$110.67M	—
Shareholders' Equity	$24.67M	$20.82M	$11.22M	—
Working Capital	$24.67M	$20.45M	$10.58M	—

IXHL Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	—	$0.00	$0.00	$0.00
Research & Development	$2.73M	—	$1.12M	$2.28M	$321.00K
Selling, General & Admin	$2.27M	—	$5.67M	$4.71M	$3.73M
Operating Expenses	$4.58M	—	$6.41M	$6.51M	$3.97M
Operating Income	-$4.58M	—	-$6.41M	-$6.51M	-$3.97M
EBITDA	-$3.84M	—	-$6.34M	-$6.46M	-$3.82M
Pretax Income	-$3.97M	—	-$6.41M	-$6.52M	-$3.88M
Income Tax	$0.00	—	$0.00	—	$0.00
Net Income	-$3.97M	—	-$6.41M	-$6.52M	-$3.88M
Diluted EPS	-6.19	—	-0.60	-0.60	-0.35
Diluted Shares	654418	—	10.34M	11.65M	12.35M

IXHL Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$6.71M	—	$73.28M	$68.90M	$74.45M
Receivables	$7.34M	—	$4.76M	$5.30M	$5.46M
Current Assets	$15.63M	—	$78.30M	$74.68M	$80.09M
Total Assets	$16.20M	—	$78.72M	$75.01M	$80.28M
Current Liabilities	$7.37M	—	$1.65M	$1.55M	$1.93M
Total Debt	$1.69M	—	$210.00K	$163.00K	$114.00K
Total Liabilities	$8.79M	—	$1.71M	$1.60M	$5.05M
Retained Earnings	-$125.95M	—	-$163.96M	-$170.48M	-$174.37M
Shareholders' Equity	$7.40M	—	$77.01M	$73.41M	$75.23M
Working Capital	$8.26M	—	$76.65M	$73.13M	$78.17M

IXHL Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$3.16M	—	-$9.16M	-$4.62M	-$2.46M
Capital Expenditure	—	—	-$2.00K	-$4.00K	-$5.00K
Free Cash Flow	-$3.16M	—	-$9.16M	-$4.63M	-$2.46M
Depreciation & Amortisation	-$5.00K	—	$66.00K	$59.00K	$65.00K
Stock-Based Compensation	$417.00K	—	$2.63M	$2.28M	$1.47M
Investing Cash Flow	$0.00	—	-$42.00K	-$4.00K	-$18.00K
Financing Cash Flow	$7.74M	—	$67.18M	$927.00K	$4.71M
Share Repurchases	$0.00	—	—	—	-$1.14M
Net Change in Cash	$4.58M	—	$57.97M	-$3.70M	$2.24M

Market Snapshot

About

Incannex Healthcare Inc. is a clinical-stage pharmaceutical development company focused on developing novel cannabinoid-based medications and psychedelic medicine therapies. The company is advancing a pipeline of drug candidates targeting conditions including obstructive sleep apnea, traumatic brain injury, rheumatoid arthritis, and inflammatory bowel disease. Incannex conducts clinical trials across multiple jurisdictions and is working to establish regulatory pathways for its cannabinoid pharmaceutical products. The company is headquartered in Australia with operations in the United States.