--- title: "Incannex Healthcare | 10-Q: FY2026 Q3 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/286574500.md" datetime: "2026-05-15T13:31:15.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286574500.md) - [en](https://longbridge.com/en/news/286574500.md) - [zh-HK](https://longbridge.com/zh-HK/news/286574500.md) --- # Incannex Healthcare | 10-Q: FY2026 Q3 Revenue: USD 0 Revenue: As of FY2026 Q3, the actual value is USD 0. EPS: As of FY2026 Q3, the actual value is USD -0.35. EBIT: As of FY2026 Q3, the actual value is USD -4.054 M. ### Segment Revenue Incannex Healthcare Inc. reported no revenue from customers for the three months ended March 31, 2026, or the nine months ended March 31, 2026, compared to $86 thousand for the nine months ended March 31, 2025. ### Operational Metrics #### Research and Development (R&D) Expenses For the three months ended March 31, 2026, R&D expenses decreased to - $321 thousand, an 88% decrease from - $2,735 thousand in the prior year period. For the nine months ended March 31, 2026, R&D expenses decreased to - $3,721 thousand, a 47% decrease from - $7,045 thousand in the prior year period. This decrease was primarily due to the completion of the IHL-42X safety and pharmacokinetics clinical trial, with current expenses mainly related to PSX-001 and IHL-42X clinical trials and scientific, marketing, and advertising subscription services. #### General and Administrative (G&A) Expenses G&A expenses increased to - $3,727 thousand for the three months ended March 31, 2026, a 64% increase from - $2,268 thousand in the prior year period. For the nine months ended March 31, 2026, G&A expenses increased to - $14,115 thousand, a 52% increase from - $9,302 thousand in the prior year period. This increase was mainly due to higher stock-based payment expenses and additional consulting charges. #### Loss from Operations The loss from operations was - $4,048 thousand for the three months ended March 31, 2026, an improvement of 19% from - $5,003 thousand in the prior year period. For the nine months ended March 31, 2026, the loss from operations was - $17,836 thousand, a 10% increase in loss from - $16,261 thousand in the prior year period. #### R&D Tax Incentive The R&D tax incentive decreased to $82 thousand for the three months ended March 31, 2026, an 81% decrease from $421 thousand in the prior year period. For the nine months ended March 31, 2026, it decreased to $953 thousand, a 56% decrease from $2,188 thousand in the prior year period, primarily due to a lower estimate. #### Share of Loss of Joint Venture The share of loss from the joint venture increased to - $44 thousand for the three months ended March 31, 2026, and to - $28 thousand for the nine months ended March 31, 2026, due to losses from the investment in Mind Clinics Australia. #### Total Comprehensive Loss Total comprehensive loss for the three months ended March 31, 2026, was - $4,351 thousand, a 7% increase in loss from - $4,056 thousand in the prior year period. For the nine months ended March 31, 2026, it was - $17,343 thousand, a 12% increase in loss from - $15,445 thousand in the prior year period. ### Cash Flow #### Net Cash Used in Operating Activities For the nine months ended March 31, 2026, net cash used in operating activities increased to - $16,241 thousand, up from - $11,031 thousand in the prior year period, primarily due to a decrease in trade and other payables. #### Net Cash Used in Investing Activities Net cash used in investing activities increased to - $64 thousand for the nine months ended March 31, 2026, compared to - $8 thousand in the prior year period, due to an investment in Mind Medicine Australia. #### Net Cash Provided by Financing Activities Net cash provided by financing activities significantly increased to $72,814 thousand for the nine months ended March 31, 2026, compared to $11,794 thousand in the prior year period. This increase was driven by stock issuances from the at-the-market offering program and the March 2026 Offering, partially offset by share repurchases. #### Cash and Cash Equivalents As of March 31, 2026, cash and cash equivalents totaled $74,450 thousand, an increase from $15,039 thousand as of June 30, 2025. ### Unique Metrics #### Share Repurchase Program Incannex Healthcare Inc. repurchased 0.4 million shares of its Common Stock for - $2.3 million during the nine months ended March 31, 2026. Subsequent to quarter-end, an additional 1.7 million shares were repurchased for approximately - $6.8 million between April 1, 2026, and May 15, 2026, bringing the total repurchased to 2.1 million shares for approximately - $9.1 million under a $20 million program expiring August 30, 2026. #### March 2026 Offering The company completed a registered direct offering in March 2026, issuing 1,997,285 shares of Common Stock, pre-funded warrants, and common stock warrants, generating approximately $10 million in gross proceeds. ### Future Outlook and Strategy Incannex Healthcare Inc. anticipates that its current cash balances, along with expected cash flows and available financing, will cover planned operating expenses and capital expenditure requirements for at least 12 months from the financial statements’ issuance date. The company expects R&D costs to increase as drug candidates progress through clinical trials, particularly for the IHL-42X Phase 2 crossover dose-optimization study. 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