Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 530

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 2
Chunk 530
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-  
     (129) 
     100 
  
    Loss on extinguishment 
     (1,472) 
     -  
     (1,472) 
     100 
  
    ELOC commitment fee 
     (1,095) 
     -  
     (1,095) 
     100 
  
    Total other income/(expense), net 
     (23,096) 
     11,612  
     (34,708) 
     (299)
  
    Loss before income tax expense 
     (46,885) 
     (18,429) 
     (28,456) 
     154 
  
    Income tax expense 
     -  
     (30) 
     30  
     (100)
  
    Net loss 
     (46,885) 
     (18,459) 
     (28,426) 
     154 
  
    Other comprehensive income/(loss): 

    Currency translation adjustment, net of tax 
     208  
     (77) 
     285  
     (370)
  
    Comprehensive loss 
    $(46,677) 
    $(18,536) 
    $(28,141) 
     152 

Revenue from Customers

During the fiscal year
ended June 30, 2025, we generated revenue from clinic patients for rehabilitation services. This figure reflects the consideration to
which the Company expects to be entitled in exchange for those services. Revenue increased approximately 617% when compared to revenues
generated during the fiscal year ended June 2024 primarily as a result of our expansion of these services. We have not generated any revenue
from the sale of products. We do not expect to generate material revenues unless and until our drug candidates are approved.

Operating Expenses

Our operating expenses consist of (i) R&D
expenses, (ii) acquisition of in-process research and development (“IPR&D”) expense and (iii) general and administrative
expenses.

R&D Expenses

R&D expenses consist
primarily of external and internal costs incurred in performing clinical and preclinical development activities.

85

Our R&D expenses
include:

●external costs incurred under agreements with CROs, contract
                                            manufacturers, consultants and other third parties to conduct and support our clinical trials
                                            and preclinical studies; and

●internal costs, including R