Lexaria Bioscience Corp (LEXX) Q2 2025 Earnings Report

Lexaria Bioscience Corp reported QQ2 2025 results reflecting early topline traction but persistent profitability headwinds. Revenue reached $174,000, up 20% year-over-year, driven by the company’s ongoing efforts to monetize its DehydraTECH platform via licensing and collaboration opportunities. However, the quarter also produced a net loss of $2.71 million and an EBITDA of negative $2.75 million, as operating expenses (R&D and G&A) remained elevated at roughly $2.93 million. The gross margin appears effectively flat at 100% due to revenue recognition with no cost of goods sold reported, underscoring the business model’s current emphasis on IP development and externalization rather than product sales. The company burned about $1.50 million of cash from operations in Q2, with a net cash position of approximately $6.47 million in cash and another $6.54 million in short-term investments, yielding a combined liquidity buffer near $13.0 million. Net debt remains negative at about $(6.35) million, reflecting net cash on hand versus modest reported debt, but liquidity must be weighed against continued cash burn and the lack of near-term profitability.