Numinus Wellness Inc. Announces First Quarter Fiscal 2025 Results

Core Insights - Numinus Wellness Inc. reported a significant increase in total revenue for Q1 2025, reaching $2,013,779, which represents a 68.3% increase compared to $1,196,629 in Q1 2024 [2] - The company achieved a gross profit of $1,021,157, marking a 121.1% increase from $461,943 in the same quarter last year, with a gross profit margin of 49.3% [2] - Operating expenses decreased by 51.1% to $2,065,596 from $4,226,850 in Q1 2024, contributing to a reduced comprehensive loss of $1,286,464 compared to $4,351,472 in the previous year [2] Financial Performance Metrics - Total Revenue: $2,013,779 for Q1 2025 vs. $1,196,629 for Q1 2024, a 68.3% increase [2] - Cost of Revenue: $992,622 for Q1 2025 vs. $734,686 for Q1 2024, a 35.1% increase [2] - Gross Profit: $1,021,157 for Q1 2025 vs. $461,943 for Q1 2024, a 121.1% increase [2] - Gross Profit Margin: 49.3% for Q1 2025 vs. 38.6% for Q1 2024, an increase of 107 basis points [2] - Operating Expenses: $2,065,596 for Q1 2025 vs. $4,226,850 for Q1 2024, a decrease of 51.1% [2] - Comprehensive Loss: ($1,286,464) for Q1 2025 vs. ($4,351,472) for Q1 2024 [2] Balance Sheet and Liquidity - Numinus ended the quarter with cash and cash equivalents of $2.0 million [3] - The financial statements were prepared in accordance with IFRS and are available on the company's Investor Relations website [3] Company Overview - Numinus Wellness Inc. focuses on innovative mental health care and the development of safe, evidence-based psychedelic-assisted therapies [4] - The company aims to transform mental health treatment by integrating psychedelic-assisted therapies into mainstream clinical practice, targeting conditions such as depression, anxiety, trauma, pain, and substance use [4]