UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: June 30, 2025 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ___ to ___ Commission File Number 001-38286 ENVERIC BIOSCIENCES, INC. (Exact name of registrant as specified in its charter) Delaware 95-4484725 (State or other jurisdic ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Commission File Number) (I.R.S. Employer Identification No.) FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 August 14, 2025 Date of Report (Date of earliest event reported) Enveric Biosciences, Inc. (Exact name of registrant as specified in its charter) Delaware 001-38286 95-4484725 (State or other jurisdiction of incorporation) Enveric Biosciences, Inc. 4851 Tamiami Trail N, Suite 200 Na ...

Financial Performance - Enveric reported a net loss of $2,184,966 for the three months ended March 31, 2025, compared to a net loss of $2,456,915 for the same period in 2024, reflecting a decrease of approximately 11%[88]. - Total operating expenses decreased to $2,187,533 for Q1 2025, down from $2,477,317 in Q1 2024, a reduction of about 12%[88]. - General and administrative expenses fell by $525,615, or 28%, to $1,360,138 in Q1 2025, primarily due to reductions in various operational costs[90]. - Research and development expenses increased by $240,216, or approximately 47%, to $746,371 in Q1 2025, driven by higher consulting fees[91]. - The accumulated deficit reached $108,259,471 as of March 31, 2025, with ongoing losses anticipated in the company's development efforts[93]. - The company reported a net cash used in operating activities of $2,391,582 for the three months ended March 31, 2025, compared to $2,598,347 for the same period in 2024, reflecting a decrease of approximately 8%[98][99]. - The company experienced a net increase in cash of $2,053,409 for the three months ended March 31, 2025, compared to $4,068,059 in 2024, indicating a decrease of approximately 49%[97]. Cash Position and Financing - Enveric has cash of $4,294,435 and working capital of $3,650,434 as of March 31, 2025, which is insufficient to meet operating cash needs for the next 12 months[94]. - The company plans to raise additional working capital through public or private equity or debt financings, including an "at-the-market" offering of up to $1.8 million[94]. - Net cash provided by financing activities was $4,448,914 for the three months ended March 31, 2025, down from $6,658,269 in 2024, representing a decline of about 33%[100][101]. Development and Research - Enveric's lead drug candidate, EB-003, is currently in preclinical development with an IND filing expected as the next step[84]. - The company has synthesized over one thousand molecules from its Psybrary™, which includes 20 patent families covering a million potential molecular structures[80]. - Enveric out-licensed the EVM201 Series program to MycoMedica Life Sciences, which will seek to develop and commercialize EB-002, in exchange for development and milestone payments[79]. Going Concern and Risks - The company has substantial doubt about its ability to continue as a going concern for one year after the date of the financial statements[95]. - The company's critical accounting estimates involve significant uncertainty, particularly regarding accruals associated with third-party providers supporting research and development efforts[102]. - The company's primary market risk exposure is related to foreign currency exchange rates, particularly with the Canadian dollar and Australian dollar against the U.S. dollar[105]. - The company has not entered into any financial derivative instruments to hedge against foreign currency exchange rate risks, but may consider such hedging in the future[106]. - The net cash used in operating activities for the three months ended March 31, 2025, included a net loss adjusted for non-cash items of $1,912,659[98]. - The company has not reported any material changes to its critical accounting estimates compared to the previous year[103].

Financial Results - Enveric Biosciences, Inc. reported its financial results for Q1 2025, ending March 31, 2025[4] - The report does not include specific financial figures or performance metrics in the provided content[4] - The financial results include key metrics that will be detailed in Exhibit 99.1, which is referenced in the report[4] - The press release is furnished as Exhibit 99.1, which may contain detailed financial data[6] Corporate Update - The company issued a press release on May 14, 2025, providing a corporate update alongside the financial results[4] - The report is filed under Form 8-K, indicating compliance with the Securities Exchange Act of 1934[5] Company Information - The company is registered on The Nasdaq Stock Market under the trading symbol ENVB[2] - Enveric Biosciences is classified as an emerging growth company[3] - The company is headquartered in Naples, FL, with a principal executive office address provided[1] - Joseph Tucker, Ph.D., serves as the Chief Executive Officer of Enveric Biosciences, Inc.[9]

Financial Results - Enveric Biosciences, Inc. reported its financial results for the fourth quarter and fiscal year ended December 31, 2024[4]. - Specific financial metrics and performance data were included in the press release, which is referenced as Exhibit 99.1[4]. - The financial statements and exhibits related to the report are detailed in Item 9.01[6]. Corporate Update - The company issued a press release on March 31, 2025, providing a corporate update alongside the financial results[4]. - The report was signed by Joseph Tucker, Ph.D., the Chief Executive Officer of Enveric Biosciences, Inc.[9]. Regulatory Information - The report is not deemed "filed" under the Securities Exchange Act of 1934, and it will not be incorporated by reference into any registration statement[5]. - The company has not indicated whether it is an emerging growth company[3]. Product and Market Information - The report does not provide specific user data or future guidance in the available content[4]. - No new products, technologies, market expansions, or acquisition strategies were mentioned in the provided documents[4]. Trading Information - The company is registered under the trading symbol ENVB on The Nasdaq Stock Market[2].

Drug Development - Enveric's lead drug candidate, EB-003, is in preclinical development with an IND filing expected soon[284]. - The company has synthesized over 1,000 novel molecules from its Psybrary™, which includes 20 patent families covering a million potential molecular structures[281]. - Enveric executed a licensing agreement with MycoMedica for the EVM201 program, receiving an upfront payment of $20,000 and potential milestones totaling up to $62 million[287]. Financial Performance - The Company incurred a net loss of $9,574,987 for the year ended December 31, 2024, compared to a net loss of $17,291,732 in 2023[306]. - The Company has an accumulated deficit of $106,074,505 as of December 31, 2024, with further losses anticipated[316]. - The company reported a net loss adjusted for non-cash items of $7,302,896 for 2024, down from $13,919,661 in 2023, reflecting an improvement of approximately 47%[321][322]. Cash Flow and Liquidity - Cash on hand at December 31, 2024, was $2,241,026, which is insufficient to meet operating cash needs for the next 12 months[317]. - The Company had operating cash outflows of $7,726,139 for the year ended December 31, 2024[316]. - Net cash used in operating activities was $7,726,139 for the year ended December 31, 2024, compared to $14,094,411 for the year ended December 31, 2023, indicating a decrease of approximately 45%[321][322]. Expenses Management - Total operating expenses decreased to $9,632,266 for the year ended December 31, 2024, down from $16,448,440 in 2023, a reduction of approximately 41%[306]. - General and administrative expenses decreased by $2,398,516, or 27%, primarily due to reductions in consulting expenses, salaries, and stock compensation[307]. - Research and development expenses decreased by $4,411,165, or approximately 61%, to $2,841,272 for the year ended December 31, 2024[309]. Stock and Equity - A reverse stock split of 1-for-15 was executed on January 27, 2025, with trading on a split-adjusted basis starting January 29, 2025[285]. - The company issued 159,366 shares through the Lincoln Park Purchase Agreement for gross cash proceeds of $1,083,709 in 2024[293]. - Enveric's equity line with Lincoln Park allows for the purchase of up to $10 million of common stock, subject to certain limitations[292]. Agreements and Partnerships - The company entered into a Distribution Agreement with Canaccord Genuity for an aggregate offering price of up to $10 million, with gross sales of $2,392,502 recorded in 2024[289][291]. - The company is soliciting RFPs for its PsyAI™ trademark portfolio, with the period open until August 31, 2025[282]. - Enveric has entered into several non-binding term sheets to out-license certain molecules from the Psybrary™[283]. Currency and Risk Management - The company is exposed to foreign currency exchange rate risk due to transactions in Canadian and Australian dollars, with the reporting currency being the U.S. dollar[327]. - The company has not entered into any financial derivative instruments to hedge against foreign currency risks but may consider such strategies in the future[328]. Liabilities and Financial Position - The decrease in accounts payable and accrued liabilities was $834,630 in 2024, compared to a decrease of $103,848 in 2023, indicating a larger reduction in liabilities[321][322]. - An increase in due to related parties of $232,891 was noted in 2024, contrasting with a decrease in prepaid expenses of $178,496[321]. Accounting Estimates - The company’s critical accounting estimates involve significant uncertainty, particularly in fair value assessments of common stock and stock-based compensation[326]. - The company plans to evaluate its estimates on an ongoing basis to ensure accuracy in financial reporting[326].

Operating Expenses - Total operating expenses decreased to $2,083,192 for the three months ended September 30, 2024, from $3,448,395 for the same period in 2023, a reduction of approximately 40%[100] - General and administrative expenses decreased by $844,983, or 41%, to $1,235,661 for the three months ended September 30, 2024, primarily due to reductions in consulting expenses, salaries, and legal fees[101] - Research and development expenses decreased to $762,717 for the three months ended September 30, 2024, down from $1,281,455 in the same period in 2023, representing a decrease of approximately 40%[102] - General and administrative expenses decreased by $3,806,279, or 46%, to $4,467,065 for the nine months ended September 30, 2024, compared to $8,273,344 for the same period in 2023[108] - Research and development expenses decreased by $3,795,063, or approximately 69%, to $1,736,373 for the nine months ended September 30, 2024, from $5,531,436 in the same period of 2023[110] - Depreciation and amortization expense for the nine months ended September 30, 2024 was $255,002, a decrease of approximately 2% from $259,300 in the same period of 2023[111] Net Loss - The net loss for the three months ended September 30, 2024, was $2,084,032, compared to a net loss of $2,822,216 for the same period in 2023[100] - The net loss for the nine months ended September 30, 2024 was $6,420,341, a reduction from a net loss of $13,855,796 for the same period in 2023[107] Cash and Financing Activities - The company had cash of $3,111,683 and working capital of $3,499,093 as of September 30, 2024, which is insufficient to meet its operating cash needs for the next 12 months[116] - Net cash used in operating activities was $6,414,590 for the nine months ended September 30, 2024, compared to $12,343,363 for the same period in 2023[120] - Net cash provided by financing activities was $7,210,386 for the nine months ended September 30, 2024, compared to a net cash used of $1,157,057 in the same period of 2023[124] Share Issuance and Warrant Exercise - The company issued 1,668,000 shares of common stock for gross proceeds of $2,392,502 under the Distribution Agreement during the nine months ended September 30, 2024[91] - The company entered into warrant exercise inducement offer letters, resulting in the exercise of 1,122,000 shares at a reduced price of $1.37 per share, generating total proceeds of $280,500[93] - The company has registered an additional 4,900,000 shares of common stock available for issuance under the amended Form S-1[99] Research and Development - The company has created over 1,200 novel molecular compounds housed in the Psybrary™, focusing on developing lead molecules EB-002 and EB-003[90] - The company is advancing its EVM201 Series, with EB-002 targeting psychiatric disorders and EB-003 being a non-hallucinogenic neuroplastogen[89] Fair Value Changes - The change in fair value of warrant liabilities resulted in income of $20,722 for the nine months ended September 30, 2024, compared to a loss of $115,342 in the same period of 2023[112] - The change in fair value of investment option liability resulted in income of $18,664 for the nine months ended September 30, 2024, compared to a loss of $399,921 in the same period of 2023[113] Operating Cash Outflows - The company incurred operating cash outflows of $6,414,590 for the nine months ended September 30, 2024, with an accumulated deficit of $102,919,859 as of the same date[115]

Financial Results - Enveric Biosciences, Inc. reported its financial results for Q3 2024, ending September 30, 2024[3] - The company issued a corporate update alongside the financial results on November 14, 2024[3] - Specific financial metrics and performance data were not detailed in the provided content[3]

Financial Performance - The net loss for Q2 2024 was $1,879,394, compared to a net loss of $6,356,053 in Q2 2023[94]. - The company reported a net loss of $4,336,309 for the six months ended June 30, 2024, compared to a net loss of $11,033,580 in the same period of 2023[99]. - The company incurred an accumulated deficit of $100,835,827 as of June 30, 2024, with further losses anticipated in business development[106]. Operating Expenses - Total operating expenses for Q2 2024 were $1,897,931, a decrease of 67% from $5,755,007 in Q2 2023[94]. - General and administrative expenses decreased by $1,975,249, or 60%, from $3,272,900 in Q2 2023 to $1,297,651 in Q2 2024[95]. - Research and development expenses dropped by $1,880,088, or approximately 78%, from $2,395,589 in Q2 2023 to $515,501 in Q2 2024[96]. - General and administrative expenses decreased to $3,231,404 for the six months ended June 30, 2024, down 48% from $6,192,700 in 2023[100]. - Research and development expenses for the six months ended June 30, 2024 were $973,656, a decrease of approximately 77% from $4,249,981 in 2023[101]. - Depreciation and amortization expense for the six months ended June 30, 2024 was $170,188, a decrease of approximately 2% from $173,004 in the same period of 2023[102]. Cash Flow and Liquidity - The company has significant liquidity needs and potential requirements for additional funding[79]. - As of June 30, 2024, the company had cash of $3,502,551 and working capital of $4,874,594, which is insufficient to meet its operating cash needs for the next 12 months[108]. - The company had operating cash outflows of $5,487,520 for the six months ended June 30, 2024, compared to $9,602,930 in 2023[112]. - Net cash provided by financing activities was $6,692,699 during the six months ended June 30, 2024, compared to a net cash used of $1,052,057 in 2023[115]. Business Development - The company created over 1,000 novel psychedelic molecular compounds and derivatives housed in its proprietary Psybrary™[82]. - The company is advancing its lead program, EB-002, for the treatment of psychiatric disorders, and EB-003, targeting difficult-to-address mental health disorders[81]. Warrant and Investment Liabilities - The change in fair value of warrant liabilities resulted in income of $20,844 for the six months ended June 30, 2024, compared to a loss of $183,164 in 2023[103]. - The change in fair value of investment option liability resulted in income of $19,165 for the six months ended June 30, 2024, compared to a loss of $962,636 in 2023[104]. Share Issuance - The company issued 1,668,000 shares of common stock for gross proceeds of $2,392,502 during the six months ended June 30, 2024[84]. - The company entered into warrant exercise inducement letters, resulting in the exercise of 1,122,000 shares at a reduced price, generating total proceeds of $280,500[85].

Financial Results - Enveric Biosciences Inc. reported its financial results for Q2 2024, ending June 30, 2024[2] - Specific financial metrics and performance data were not detailed in the provided content, indicating a need for further review of the press release for comprehensive insights[2] Corporate Update - The company issued a press release on August 12, 2024, providing a corporate update alongside the financial results[2]