What is Lexaria Bioscien's earnings per share (EPS)?

Lexaria Bioscien (LEXXW) reported diluted earnings per share of $-0.66 for fiscal year 2025. This represents a -40.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Lexaria Bioscien Financials

LEXXW

Source SEC Filings (10-K/10-Q) Data as of Feb 28, 2026 Currency USD FYE August

This page shows Lexaria Bioscien (LEXXW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LEXXW FY2025 2026-04-22

Lexaria's business still behaves like a funded R&D program, with near-100.0% gross margin but losses set by development spending.

From FY2024 to FY2025, R&D spending jumped from $2.4M to $8.2M, so the much deeper deficit looks driven by a sharper development push rather than weaker product economics. That reading is reinforced because operating cash flow at -$10.5M closely tracked net loss at -$11.9M, meaning the loss was largely cash-real instead of mostly non-cash.

Gross margin reached 99.6% in FY2025, but that does not describe a self-supporting earnings model; it shows cost of revenue is tiny relative to overhead, so commercialization is not yet paying for the research platform. The business can generate high gross profit on small sales, yet operating results are still governed by lab and corporate spend rather than production efficiency.

Year-end cash of $1.8M sat far below FY2025 operating cash use of -$10.5M, so liquidity depends on returning to capital markets rather than on customer-funded operations. The 2.3x current ratio says near-term bills were covered, but the balance sheet now functions more like a staging area between financing rounds than a reservoir built by the business itself.

Financial Health Signals

Financial health score pending refresh

We are recalculating Lexaria Bioscien's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

4/8

Lexaria Bioscien passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.88x

For every $1 of reported earnings, Lexaria Bioscien generates $0.88 in operating cash flow (-$10.5M OCF vs -$11.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$706K

YoY+52.0%

5Y CAGR+17.5%

10Y CAGR+47.3%

Lexaria Bioscien generated $706K in revenue in fiscal year 2025. This represents an increase of 52.0% from the prior year.

EBITDA

-$11.8M

YoY-107.1%

Lexaria Bioscien's EBITDA was -$11.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 107.1% from the prior year.

Net Income

-$11.9M

YoY-105.4%

Lexaria Bioscien reported -$11.9M in net income in fiscal year 2025. This represents a decrease of 105.4% from the prior year.

EPS (Diluted)

$-0.66

YoY-40.4%

Lexaria Bioscien earned $-0.66 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 40.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$10.5M

YoY-109.4%

Lexaria Bioscien generated -$10.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 109.4% from the prior year.

Cash & Debt

$1.8M

YoY-72.3%

5Y CAGR+6.9%

10Y CAGR+21.4%

Lexaria Bioscien held $1.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

20M

YoY+0.0%

Lexaria Bioscien had 20M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

99.6%

YoY+0.6pp

5Y CAGR+31.2pp

10Y CAGR+202.9pp

Lexaria Bioscien's gross margin was 99.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.6 percentage points from the prior year.

Operating Margin

-1683.0%

YoY-443.9pp

10Y CAGR+11806.8pp

Lexaria Bioscien's operating margin was -1683.0% in fiscal year 2025, reflecting core business profitability. This is down 443.9 percentage points from the prior year.

Net Margin

-1686.0%

YoY-437.7pp

5Y CAGR-388.4pp

10Y CAGR+11803.8pp

Lexaria Bioscien's net profit margin was -1686.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 437.7 percentage points from the prior year.

Return on Equity

-398.1%

YoY-326.0pp

5Y CAGR-233.5pp

10Y CAGR-141.3pp

Lexaria Bioscien's ROE was -398.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 326.0 percentage points from the prior year.

Capital Allocation

R&D Spending

$8.2M

YoY+249.0%

5Y CAGR+84.3%

10Y CAGR+49.6%

Lexaria Bioscien invested $8.2M in research and development in fiscal year 2025. This represents an increase of 249.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$25K

YoY-42.7%

Lexaria Bioscien invested $25K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 42.7% from the prior year.

LEXXW Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$706K+52.0%	$464K+105.2%	$226K-11.4%	$255K-64.7%	$723K+129.6%	$315K
Cost of Revenue	$3K-43.6%	$5K-84.7%	$32K-56.2%	$72K-59.0%	$175K+76.4%	$99K
Gross Profit	$703K+53.1%	$459K+136.0%	$195K+6.1%	$184K-66.5%	$547K+154.1%	$215K
R&D Expenses	$8.2M+249.0%	$2.4M-35.6%	$3.7M+99.0%	$1.8M+45.9%	$1.3M+226.3%	$387K
SG&A Expenses	$4.3M+12.8%	$3.9M+25.8%	$3.1M-38.3%	$5.0M-0.2%	$5.0M+25.0%	$4.0M
Operating Income	-$11.9M-106.5%	-$5.8M+12.0%	-$6.5M+1.3%	-$6.6M-16.4%	-$5.7M	N/A
Interest Expense	N/A	$8K	$0	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	$0-100.0%	$6K+162.7%	$2K
Net Income	-$11.9M-105.4%	-$5.8M+13.0%	-$6.7M+8.3%	-$7.3M-80.5%	-$4.0M+1.4%	-$4.1M
EPS (Diluted)	$-0.66-40.4%	$-0.47+53.5%	$-1.01	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$20K	$0-100.0%	$174K0.0%	$174K0.0%	$174K-5.4%	$184K+119.0%	$84K0.0%	$84K
Cost of Revenue	$0	$0	$0	$0	$0-100.0%	$3K	$0	$0
Gross Profit	$20K	$0-100.0%	$174K0.0%	$174K0.0%	$174K-4.0%	$181K+115.7%	$84K0.0%	$84K
R&D Expenses	$475K-29.2%	$671K-64.3%	$1.9M-30.7%	$2.7M+61.2%	$1.7M-13.7%	$2.0M+101.9%	$967K+68.8%	$573K
SG&A Expenses	$997K+10.4%	$902K-8.0%	$980K-18.8%	$1.2M-2.6%	$1.2M+34.9%	$919K-30.4%	$1.3M+5.3%	$1.3M
Operating Income	-$1.5M+7.7%	-$1.6M+41.5%	-$2.7M+28.3%	-$3.8M-36.3%	-$2.8M-2.2%	-$2.7M-22.1%	-$2.2M-26.4%	-$1.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Income Tax	$3K+45.1%	$2K	N/A	N/A	$0	$0	N/A	N/A
Net Income	-$1.4M+9.1%	-$1.6M+40.8%	-$2.7M+28.9%	-$3.8M-39.7%	-$2.7M-0.4%	-$2.7M-23.8%	-$2.2M-22.6%	-$1.8M
EPS (Diluted)	$-0.06+14.3%	$-0.07	N/A	$-0.21-40.0%	$-0.15+6.3%	$-0.16	N/A	$-0.13

LEXXW Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.2M-52.9%	$8.9M+187.5%	$3.1M-60.6%	$7.8M-41.0%	$13.3M+369.1%	$2.8M
Current Assets	$3.5M-56.1%	$7.9M+267.1%	$2.2M-69.2%	$7.0M-43.9%	$12.4M+546.1%	$1.9M
Cash & Equivalents	$1.8M-72.3%	$6.5M+380.7%	$1.4M-76.7%	$5.8M-46.8%	$10.9M+743.9%	$1.3M
Inventory	N/A	N/A	$0-100.0%	$38K+29.6%	$30K-74.6%	$117K
Accounts Receivable	$368K+138.5%	$154K+21.9%	$127K-37.2%	$202K-41.1%	$342K+9.1%	$314K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.6M+30.1%	$1.2M+199.3%	$404K+100.5%	$201K-0.9%	$203K-41.2%	$346K
Current Liabilities	$1.5M+35.8%	$1.1M+310.6%	$268K+38.0%	$194K+26.6%	$153K-32.2%	$226K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.0M-62.8%	$8.0M+164.0%	$3.0M-61.7%	$7.9M-39.2%	$13.1M+426.3%	$2.5M
Retained Earnings	-$63.5M-23.1%	-$51.6M-12.7%	-$45.8M-17.0%	-$39.1M-22.8%	-$31.8M-14.5%	-$27.8M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$6.5M+7.2%	$6.1M+44.9%	$4.2M-38.1%	$6.7M-22.3%	$8.7M-11.4%	$9.8M+10.4%	$8.9M-11.5%	$10.0M
Current Assets	$5.8M+7.6%	$5.4M+54.6%	$3.5M-40.3%	$5.8M-24.8%	$7.7M-12.5%	$8.8M+11.7%	$7.9M-13.1%	$9.1M
Cash & Equivalents	$5.1M+18.6%	$4.3M+138.6%	$1.8M-60.8%	$4.6M-29.2%	$6.5M-19.5%	$8.1M+24.3%	$6.5M-23.2%	$8.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$42K-52.3%	$88K-76.1%	$368K+2.9%	$358K+8.1%	$331K+25.7%	$263K+70.6%	$154K-25.9%	$208K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$277K-81.9%	$1.5M-2.9%	$1.6M-0.2%	$1.6M-17.8%	$1.9M+379.5%	$400K-66.9%	$1.2M+345.4%	$271K
Current Liabilities	$215K-85.3%	$1.5M-2.5%	$1.5M+0.4%	$1.5M-18.3%	$1.8M+512.0%	$298K-72.9%	$1.1M+604.5%	$156K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$6.6M+34.4%	$4.9M+64.3%	$3.0M-46.2%	$5.6M-22.3%	$7.1M-26.9%	$9.8M+21.6%	$8.0M-20.6%	$10.1M
Retained Earnings	-$66.5M-2.2%	-$65.1M-2.5%	-$63.5M-4.4%	-$60.8M-6.7%	-$57.0M-5.0%	-$54.3M-5.2%	-$51.6M-4.4%	-$49.4M

LEXXW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$10.5M-110.7%	-$5.0M+15.7%	-$5.9M-20.5%	-$4.9M-22.3%	-$4.0M-52.3%	-$2.6M
Capital Expenditures	$25K-42.7%	$43K+27.5%	$34K-31.4%	$49K	N/A	$0
Free Cash Flow	-$10.5M-109.4%	-$5.0M+15.4%	-$5.9M-20.0%	-$4.9M	N/A	-$2.6M
Investing Cash Flow	-$243K-28.9%	-$189K-11.2%	-$170K+6.1%	-$181K-193.2%	$194K+822.3%	-$27K
Financing Cash Flow	$6.0M-41.4%	$10.3M+548.9%	$1.6M+3664.4%	-$45K-100.3%	$13.4M+405.6%	$2.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$2.2M-119.9%	-$984K+62.8%	-$2.6M+26.3%	-$3.6M-139.3%	-$1.5M+45.1%	-$2.7M-44.1%	-$1.9M-49.4%	-$1.3M
Capital Expenditures	$41K	$0-100.0%	$1+200.0%	-$1-200.0%	$1-100.0%	$25K-42.7%	$43K	$0
Free Cash Flow	-$2.2M-124.0%	-$984K+62.8%	-$2.6M+26.3%	-$3.6M-139.3%	-$1.5M+45.5%	-$2.8M-42.2%	-$1.9M-52.8%	-$1.3M
Investing Cash Flow	-$54K-957.2%	-$5K+96.8%	-$158K-712.0%	-$19K+30.3%	-$28K+26.2%	-$38K+45.7%	-$70K-216.3%	-$22K
Financing Cash Flow	$3.0M-12.4%	$3.5M	$0-100.0%	$1.7M+14311.7%	$12K-99.7%	$4.3M	$0-100.0%	$5.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LEXXW Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	99.6%+0.6pp	99.0%+12.9pp	86.1%+14.2pp	71.9%-3.9pp	75.7%+7.3pp	68.4%
Operating Margin	-1683.0%-443.9pp	-1239.2%+1649.3pp	-2888.5%-296.8pp	-2591.7%-1804.8pp	-786.9%	N/A
Net Margin	-1686.0%-437.7pp	-1248.3%+1698.1pp	-2946.4%-100.1pp	-2846.3%-2289.1pp	-557.2%+740.4pp	-1297.6%
Return on Equity	-398.1%-326.0pp	-72.1%+146.8pp	-218.9%-127.5pp	-91.5%-60.6pp	-30.8%+133.7pp	-164.5%
Return on Assets	-285.1%-219.7pp	-65.3%+150.8pp	-216.1%-123.3pp	-92.8%-62.4pp	-30.3%+114.1pp	-144.4%
Current Ratio	2.32-4.9	7.18-0.9	8.03-27.9	35.96-45.2	81.18+72.7	8.53
Debt-to-Equity	0.53+0.4	0.15+0.0	0.13+0.1	0.030.0	0.02-0.1	0.14
FCF Margin	-1483.9%-406.5pp	-1077.4%+1537.5pp	-2614.8%-685.1pp	-1929.8%	N/A	-831.9%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	100.0%	N/A	100.0%0.0pp	100.0%0.0pp	100.0%+1.5pp	98.5%-1.5pp	100.0%0.0pp	100.0%
Operating Margin	-7259.5%	N/A	-1545.2%+610.2pp	-2155.4%-574.4pp	-1581.0%-118.1pp	-1463.0%+1159.8pp	-2622.7%-547.8pp	-2074.9%
Net Margin	-7249.9%	N/A	-1549.3%+628.3pp	-2177.6%-618.3pp	-1559.3%-89.3pp	-1470.0%+1130.9pp	-2600.9%-479.9pp	-2121.1%
Return on Equity	-22.0%+10.5pp	-32.5%+57.7pp	-90.2%-21.9pp	-68.3%-30.3pp	-38.0%-10.3pp	-27.7%-0.5pp	-27.2%-9.6pp	-17.6%
Return on Assets	-22.4%+4.0pp	-26.4%+38.2pp	-64.6%-8.4pp	-56.2%-24.9pp	-31.3%-3.7pp	-27.6%-3.0pp	-24.6%-6.9pp	-17.8%
Current Ratio	26.88+23.2	3.68+1.4	2.32-1.6	3.90-0.3	4.24-25.4	29.64+22.5	7.18-51.1	58.27
Debt-to-Equity	0.04-0.3	0.31-0.2	0.53+0.2	0.28+0.0	0.27+0.2	0.04-0.1	0.15+0.1	0.03
FCF Margin	-11023.4%	N/A	-1518.7%+541.1pp	-2059.7%-1198.9pp	-860.9%+634.7pp	-1495.6%+807.6pp	-2303.2%-796.0pp	-1507.2%

Similar Companies

Aspire Biopharma Holdings Inc ASBPW

Briacell Therapeutics Corp BCTXW

Dermata Therapeutics Inc DRMAW

Geovax Labs Inc GOVXW

Pasithea Therapeutics Corp KTTAW

Frequently Asked Questions

What is Lexaria Bioscien's annual revenue?

Lexaria Bioscien (LEXXW) reported $706K in total revenue for fiscal year 2025. This represents a 52.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Lexaria Bioscien's revenue growing?

Lexaria Bioscien (LEXXW) revenue grew by 52% year-over-year, from $464K to $706K in fiscal year 2025.

Is Lexaria Bioscien profitable?

No, Lexaria Bioscien (LEXXW) reported a net income of -$11.9M in fiscal year 2025, with a net profit margin of -1686.0%.

What is Lexaria Bioscien's EBITDA?

Lexaria Bioscien (LEXXW) had EBITDA of -$11.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Lexaria Bioscien's gross margin?

Lexaria Bioscien (LEXXW) had a gross margin of 99.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Lexaria Bioscien's operating margin?

Lexaria Bioscien (LEXXW) had an operating margin of -1683.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Lexaria Bioscien's net profit margin?

Lexaria Bioscien (LEXXW) had a net profit margin of -1686.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Lexaria Bioscien's return on equity (ROE)?

Lexaria Bioscien (LEXXW) has a return on equity of -398.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Lexaria Bioscien's free cash flow?

Lexaria Bioscien (LEXXW) generated -$10.5M in free cash flow during fiscal year 2025. This represents a -109.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Lexaria Bioscien's operating cash flow?

Lexaria Bioscien (LEXXW) generated -$10.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Lexaria Bioscien's total assets?

Lexaria Bioscien (LEXXW) had $4.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Lexaria Bioscien's capital expenditures?

Lexaria Bioscien (LEXXW) invested $25K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Lexaria Bioscien spend on research and development?

Lexaria Bioscien (LEXXW) invested $8.2M in research and development during fiscal year 2025.

How many shares does Lexaria Bioscien have outstanding?

Lexaria Bioscien (LEXXW) had 20M shares outstanding as of fiscal year 2025.

What is Lexaria Bioscien's current ratio?

Lexaria Bioscien (LEXXW) had a current ratio of 2.32 as of fiscal year 2025, which is generally considered healthy.

What is Lexaria Bioscien's debt-to-equity ratio?

Lexaria Bioscien (LEXXW) had a debt-to-equity ratio of 0.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Lexaria Bioscien's return on assets (ROA)?

Lexaria Bioscien (LEXXW) had a return on assets of -285.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Lexaria Bioscien's cash runway?

Based on fiscal year 2025 data, Lexaria Bioscien (LEXXW) had $1.8M in cash against an annual operating cash burn of $10.5M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Lexaria Bioscien's Piotroski F-Score?

Lexaria Bioscien (LEXXW) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Lexaria Bioscien's earnings high quality?

Lexaria Bioscien (LEXXW) has an earnings quality ratio of 0.88x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.