Numinus Wellness Inc. Announces Fourth Quarter Fiscal 2024 Results
Numinus Wellness Inc. (OTCQB:NUMIF), a mental health care company specializing in psychedelic-assisted therapies, reported its Q4 2024 financial results. The company achieved revenue of $1.2 million, marking a 16.4% increase from Q3 2024, with a gross profit of $0.3 million.
Key developments include the sale of its wellness clinic network to Stella for US$3.53 million, leadership changes with Michael Tan appointed as CEO, and the approval of its Psychedelic-Assisted Therapy Training Program in Colorado. Cedar Clinical Research (CCR) managed 18 clinical trials and was selected as one of 15 U.S. research sites for Cybin's Phase 3 trial of CYB003 for Major Depressive Disorder.
The company ended Q4 with $2.0 million in cash and has successfully transitioned to a leaner operation, focusing on growth through its clinical research and practitioner training segments.
Numinus Wellness Inc. (OTCQB:NUMIF), un'azienda specializzata in terapie assistite con psichedelici per la salute mentale, ha riportato i risultati finanziari del quarto trimestre 2024. La societ脿 ha raggiunto un fatturato di 1,2 milioni di dollari, segnando un aumento del 16,4% rispetto al terzo trimestre 2024, con un profitto lordo di 0,3 milioni di dollari.
Tra gli sviluppi principali si annovera la vendita della rete di cliniche per il benessere a Stella per 3,53 milioni di dollari USA, i cambiamenti nella leadership con la nomina di Michael Tan come CEO, e l鈥檃pprovazione del Programma di Formazione per Terapie Assistite da Psichedelici in Colorado. Cedar Clinical Research (CCR) ha gestito 18 studi clinici ed 猫 stata selezionata come uno dei 15 siti di ricerca negli Stati Uniti per la fase 3 dello studio CYB003 di Cybin per il Disturbo Depressivo Maggiore.
La societ脿 ha chiuso il quarto trimestre con 2,0 milioni di dollari in liquidit脿 e ha completato con successo la transizione verso un鈥檕perazione pi霉 snella, concentrandosi sulla crescita attraverso i segmenti di ricerca clinica e formazione dei professionisti.
Numinus Wellness Inc. (OTCQB:NUMIF), una empresa dedicada a terapias asistidas con psicod茅licos para la salud mental, report贸 sus resultados financieros del cuarto trimestre de 2024. La compa帽铆a alcanz贸 unos ingresos de 1,2 millones de d贸lares, lo que representa un aumento del 16,4% respecto al tercer trimestre de 2024, con un beneficio bruto de 0,3 millones de d贸lares.
Entre los desarrollos clave se incluye la venta de su red de cl铆nicas de bienestar a Stella por 3,53 millones de d贸lares estadounidenses, cambios en la direcci贸n con Michael Tan nombrado CEO, y la aprobaci贸n de su Programa de Formaci贸n en Terapias Asistidas con Psicod茅licos en Colorado. Cedar Clinical Research (CCR) gestion贸 18 ensayos cl铆nicos y fue seleccionado como uno de los 15 sitios de investigaci贸n en EE.UU. para el ensayo de fase 3 de CYB003 de Cybin para el Trastorno Depresivo Mayor.
La compa帽铆a cerr贸 el cuarto trimestre con 2,0 millones de d贸lares en efectivo y ha logrado una transici贸n exitosa hacia una operaci贸n m谩s eficiente, enfoc谩ndose en el crecimiento a trav茅s de sus segmentos de investigaci贸n cl铆nica y formaci贸n de profesionales.
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欤检殧 氚滌爠 靷暛鞙茧電� 鞗半媹鞀� 韥措Μ雼� 雱ろ姼鞗岉伂毳� Stella鞐� 353毵� 雼煬鞐� 毵り皝頃� 瓴�, Michael Tan鞚� CEO搿� 鞛勲獏霅� 毽崝鞁� 氤�頇�, 攴鸽Μ瓿� 旖滊霛茧弰鞐愳劀 靷澊韨る嵏毽� 氤挫“ 旃橂 甑愳湣 頂勲攴鸽灗鞚� 鞀轨澑霅� 鞝愳澊 鞛堨姷雼堧嫟. Cedar Clinical Research (CCR)電� 18瓯挫潣 鞛勳儊 鞁滍棙鞚� 甏�毽枅鞙茧┌, Cybin鞚� 欤检殧 鞖办毟 鞛レ暊 旃橂鞝� CYB003鞚� 3靸� 鞛勳儊 鞁滍棙鞚� 鞙勴暅 氙戈淡 雮� 15臧� 鞐瓣惮 旮瓣磤 欷� 頃橂倶搿� 靹犾爼霅橃棃鞀惦媹雼�.
須岇偓電� 4攵勱赴毳� 200毵� 雼煬鞚� 順勱笀鞙茧 毵堦皭頄堨溂氅�, 鞛勳儊 鞐瓣惮 氚� 鞝勲臧� 甑愳湣 攵�氍胳潉 欷戩嫭鞙茧 靹膘灔鞐� 歆戩頃橂┌ 氤措嫟 須湪鞝侅澑 鞖挫榿 觳挫牅搿� 靹标车鞝侅溂搿� 鞝勴櫂頄堨姷雼堧嫟.
Numinus Wellness Inc. (OTCQB:NUMIF), une entreprise sp茅cialis茅e dans les th茅rapies assist茅es par psych茅d茅liques pour la sant茅 mentale, a publi茅 ses r茅sultats financiers du quatri猫me trimestre 2024. La soci茅t茅 a r茅alis茅 un chiffre d'affaires de 1,2 million de dollars, soit une augmentation de 16,4 % par rapport au troisi猫me trimestre 2024, avec un b茅n茅fice brut de 0,3 million de dollars.
Les d茅veloppements cl茅s incluent la vente de son r茅seau de cliniques de bien-锚tre 脿 Stella pour 3,53 millions de dollars US, des changements de direction avec la nomination de Michael Tan en tant que PDG, ainsi que l'approbation de son programme de formation en th茅rapie assist茅e par psych茅d茅liques au Colorado. Cedar Clinical Research (CCR) a g茅r茅 18 essais cliniques et a 茅t茅 s茅lectionn茅 comme l'un des 15 sites de recherche am茅ricains pour l'essai de phase 3 de CYB003 de Cybin pour le trouble d茅pressif majeur.
La soci茅t茅 a termin茅 le quatri猫me trimestre avec 2,0 millions de dollars en liquidit茅s et a r茅ussi sa transition vers une op茅ration plus all茅g茅e, en se concentrant sur la croissance 脿 travers ses segments de recherche clinique et de formation des praticiens.
Numinus Wellness Inc. (OTCQB:NUMIF), ein auf psychedelisch unterst眉tzte Therapien spezialisiertes Unternehmen im Bereich psychische Gesundheit, ver枚ffentlichte seine Finanzergebnisse f眉r das vierte Quartal 2024. Das Unternehmen erzielte einen Umsatz von 1,2 Millionen US-Dollar, was einer Steigerung von 16,4 % gegen眉ber dem dritten Quartal 2024 entspricht, mit einem Bruttogewinn von 0,3 Millionen US-Dollar.
Wichtige Entwicklungen umfassen den Verkauf seines Wellness-Kliniknetzwerks an Stella f眉r 3,53 Millionen US-Dollar, F眉hrungswechsel mit der Ernennung von Michael Tan zum CEO sowie die Genehmigung seines Psychedelic-Assisted Therapy Training Program in Colorado. Cedar Clinical Research (CCR) leitete 18 klinische Studien und wurde als einer von 15 US-Forschungsstandorten f眉r Cybins Phase-3-Studie zu CYB003 bei Major Depression ausgew盲hlt.
Das Unternehmen beendete das vierte Quartal mit 2,0 Millionen US-Dollar an liquiden Mitteln und hat erfolgreich auf eine schlankere Betriebsstruktur umgestellt, wobei der Fokus auf Wachstum durch klinische Forschung und Ausbildung von Fachkr盲ften liegt.
- Revenue increased 16.4% quarter-over-quarter to $1.2 million
- Gross margin improved to 25.3% from -4.6% in Q3 2024
- Operating expenses decreased significantly from $2.9M to $931,198
- Secured US$3.53 million from sale of wellness clinic network
- Clinical trials increased from 15 to 18, with patient appointments growing from 233 to 306
- Practitioner Training revenue grew 12.6% quarter-over-quarter
- Achieved Colorado state approval for Psychedelic-Assisted Therapy Training Program
- Significant comprehensive loss of $3.1 million in Q4 2024
- Limited cash position of $2.0 million at quarter end
- Multiple management changes indicating potential organizational instability
- Divestment of clinic network suggests strategic restructuring challenges
Q4 Fiscal 2024 Highlights1
- Revenue of
$1.2 million , a16.4% increase over Q3 2024 - Gross profit of
$0.3 million , compared to a loss of$0.05 million in Q3 2024 - Cash position of
$2.0 million as of August 31, 2024
Subsequent to Quarter End
- On December 12, 2024, the Company closed on the sale of its wellness clinic network to Stella, an interventional psychiatry practice, for a total consideration of US
$3.53 million . As a result of the transaction, the Company's U.S. Clinic Network operating segment has been classified as discontinued operations on the consolidated statements of loss and comprehensive loss as at August 31, 2024. - On January 23, 2025, the Company announced that Michael Tan had been appointed CEO of Numinus, with Founder Payton Nyquvest moving to the position of Executive Chair.
- On February 18, 2025, the Company announced that Kelvin Yang was appointed Interim Chief Financial Officer, replacing Melony Valleau. Mr. Yang was appointed permanent CFO on June 1, 2025.
- On March 20, 2025, the Company announced that its Psychedelic-Assisted Therapy Training Program was approved by the state of Colorado, marking a significant milestone in the Company's mission to expand safe and effective psychedelic-assisted therapy.
- On June 8, 2024, Cedar Clinical Research was engaged by Cybin Inc. ("Cybin") to provide clinical research services, and CCR's Murray, Utah, location will be one of 15 U.S. research sites for Cybin's Phase 3 multinational clinical trial of CYB003 to treat Major Depressive Disorder.
All financial results are reported in Canadian dollars unless otherwise stated.
Vancouver, British Columbia--(Newsfile Corp. - July 25, 2025) - (TSX: NUMI) (OTCQB: NUMIF) (FSE: LR23) ("Numinus" or the "Company") a mental health care company focused on innovative behavioral health treatments with a focus on safe, evidence-based psychedelic-assisted therapies, today announced its financial results for the three months ended August 31, 2024 ("Q4 2024").
"We are happy with successfully transitioning to a lean operation with cash flows aligned with our overhead," said Michael Tan, CEO of Numinus. "Moving forward, we will leverage the opportunities with our Cedar Clinical Research and practitioner training businesses. Both are achieving robust growth and will expose the Company to new ways to grow and apply our considerable skill and experience in psychedelic-assisted therapy."
Revenue from continuing operations
The Company's consolidated revenues increased by
Revenues from Cedar Clinical Research operations during Q4 2024 increased by
Revenues from Practitioner Training during Q4 2024 increased by
Gross Margin
Gross margin in Q4 2024 was
Operating expenditures
Operating expenditures and other items were
Operational Highlights
Numinus Clinical Research
Revenues from Cedar Clinical Research ("CCR") during Q4 2024 were
CCR managed 18 clinical trials, including 306 patient appointments in Q4 2024, compared to 15 clinical trials and 233 patient appointments in Q3 2024.
On June 8, 2024, CCR was engaged by Cybin Inc. ("Cybin") to provide clinical research services and CCR's Murray, Utah, location will be one of 15 U.S. research sites for Cybin's Phase 3 multinational clinical trial of CYB003. Aimed at revolutionizing the treatment of Major Depressive Disorder (MDD), this collaboration marks a pivotal moment in the journey toward understanding and treating one of the most debilitating mental health conditions affecting over 20 million Americans.
Practitioner Training
Practitioner Training revenue increased by
The Company has built a fulsome certification program to train practitioners in ketamine, 3,4-methylenedioxy methamphetamine ("MDMA"), and psilocybin-assisted therapy ("Numinus Training Program") that leverages its expertise in clinic-based treatment and clinical research. The program is accredited by major regulatory bodies in Canada and the U.S. and is provided in a blended learning format to optimize adult learning.
- Became accredited as a psychedelic therapy training provider by the Oregon Health Authority.
- Expanded its offering with the initiation of a contract with a leading research institution to train their research providers on evidence-based practices and protocols to support clients in specific psychedelic clinical trials.
- On March 20, 2025, the Company announced that its Psychedelic-Assisted Therapy Training Program was approved by the state of Colorado, marking a significant milestone in the Company's mission to expand safe and effective psychedelic-assisted therapy. This approval was part of Colorado's Natural Medicine Health Act (Proposition 122), which establishes a legal framework for the facilitation of psilocybin services by trained and licensed professionals
Corporate Updates
On June 24, 2024, the Company announced that Donna Wong had resigned as a director from the Board of Numinus.
Balance Sheet and Liquidity
Numinus ended the quarter with cash and cash equivalents of
Q4 2024 Performance Metrics
| For the quarter ended: | |||||||||
| August 31, 2024 (Q4 2024) | May 31, 2024 (Q3 2024) | % change | |||||||
| Total Revenue | $ | 1,155,936 | $ | 992,912 | |||||
| Cost of revenue | 863,313 | 1,038,887 | - | ||||||
| Gross Profit (Loss) | $ | 292,623 | ( | ) | -n/a | ||||
| Gross profit margin (loss) | ( | 290 bps | |||||||
| Operating expenses and other items | 931,198 | 2,905,123 | - | ||||||
| Loss and comprehensive loss | ( | ) | ( | ) | n/a | ||||
Numinus' unaudited condensed consolidated interim financial statements for the three months ended August 31, 2024, and related management's discussion and analysis are available on Numinus' Investor Relations website at and under the Company's profile on SEDAR+ at . These documents were prepared in accordance with IFRS.
About Numinus
Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model - including psychedelic research and clinic care - is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.
Learn more at and follow us on , , , and .
SOURCE Numinus Wellness Inc.
Forward-looking statements
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are "forward-looking statements". Forward-looking statements can be identified by the use of words such as "expects", "does not expect", "is expected", "believes", "intends", "anticipates", "does not anticipate", "believes" or variations of these words, expressions or statements, that certain actions, events or results "may", "could", "would", "might" or "will be" taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, ability of Numinus to maintain or increase earnings; ability of Numinus to achieve or maintain profitability; results of changes to operations from a financial or business perspective; the effect of cost containment measures on Numinus business and financial position; changes to cash burn rate, expenses, corporate programs or priorities, or unanticipated costs affecting cash runway or the pathway to positive cashflow or profitability, the effect of any transaction or other activity undertaken by the company in connection with the strategic review; interest in, uptake of and the ability to commercialize the Numinus Training; receipt of and/or continued approval of the clinical trial application by Health Canada for experiential opportunities for practitioners training to offer MDMA-assisted therapy; availability of subjects and trainers for experiential opportunities in practitioners training, if approved; dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate the Company's facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal, state and provincial legalization, if any, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company's need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers; the effect, if any, that the Consolidation may have on the liquidity and price of the Company's common shares and its ability to maintain its listing on the TSX and OTCQB; and other risk factors set forth in our annual information form dated November 29, 2023 and available on SEDAR+ at . These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company's efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws.
For more information:
Investor Contact
Craig MacPhail
[email protected]
1 On December 17, 2024, the Company announced the sale of its U.S. Clinic Network to Stella. As a result of the transaction, the Company's U.S. Clinic Network operating segment has been classified as discontinued operations on the consolidated statements of loss and comprehensive loss as at August 31, 2024.
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FAQ
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