Incannex Valuation Multiples

Incannex Overview

About Incannex

Incannex Healthcare Inc is a clinical stage pharmaceutical company developing medical cannabis products for the treatment of Obstructive Sleep Apnea (OSA), Traumatic Brain Injury (TBI)/Concussion, Rheumatoid Arthritis, Inflammatory Bowel Disease, and Inflammatory Lung Conditions. The company has an Australian license to import, export, and distribute medicinal cannabis products and has launched a line of cannabinoid products. The Company operates and manages its business as one reportable and operating segment, which is the Research and Development of the use of psychedelic medicine and therapies.

Founded

2001

HQ

Employees

12

Website

incannex.com.au

Sectors

BiopharmaceuticalsBioTechCannaTechViceTech

Financials (LTM)

Revenue: $86K

EBITDA: ($29M)

Market Cap

$51M

Valuation Multiples

Multiples.vc

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Incannex Financials

Incannex reported last 12-month revenue of $86K and negative EBITDA of ($29M).

In the same LTM period, Incannex generated ($29M) in EBITDA losses and had net loss of ($30M).

Incannex P&L

In the most recent fiscal year, Incannex reported revenue of $86K and EBITDA of ($46M).

Incannex expects next 12-month revenue of XXX and NTM EBITDA of XXX

Incannex Stock Performance

Incannex has current market cap of $51M.

Incannex's stock price is $3.65.

Incannex Valuation Multiples

Incannex trades at (206.2x) EV/Revenue multiple, and 0.6x EV/EBITDA.

Incannex Financial Valuation Multiples

As of April 18, 2026, Incannex has market cap of $51M.

Equity research analysts estimate Incannex's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Incannex has a P/E ratio of (1.7x).

Incannex Margins & Growth Rates

Incannex's revenue in the last fiscal year grew by 46412%.

Incannex's revenue per employee in the last FY averaged $0.0M, while opex per employee averaged $1.8M for the same period.

Incannex's rule of 40 is 46406% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Incannex's rule of X is 116023% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Incannex Public Comps

See public comps and valuation multiples for other Biopharmaceuticals comps.

Incannex M&A Activity

Incannex acquired XXX companies to date.

Last acquisition by Incannex was on XXXXXXXX, XXXXX. Incannex acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Incannex Investment Activity

Incannex invested in XXX companies to date.

Incannex made its latest investment on XXXXXXXX, XXXXX. Incannex invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).