NUMIF - Numinus Wellness Continues Tight Expense Management With Strategic Reviews Underway | Benzinga
Psychedelics mental healthcare company Numinus Wellness (OTCQX: NUMIF) posted its financial results for the three months ended Nov. 30, 2023.
Q1 numbers show:
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Cash position of $3.5 (CA$4.7) million by Nov. 30, 2023, vs. $6.35 million held by August 31 (immediately prior fiscal quarter.)
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Quarterly revenue of $4.4 million, a 3% decline as per immediately prior quarter, yet a 4.9% YoY increase vs. the comparable period ended Nov. 30, 2022.
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With $2.8 million in costs, quarterly gross profit came down to $1.59 million.
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Quarterly expenses totaled $4.68 million, an almost 20% QoQ decrease and a roughly 30% YoY reduction (same period ended Nov. 30, 2022.) The majority was attributable to general and administrative expenses (G&A,) which were cut 26% this quarter to $4 million.
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Cash used in operating activities totaled $2.5 million, vs. $5.3 million used in the same, comparative quarter the prior year.
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Net loss of $3.26 million, vs. $4.66 million in the comparative period in 2022.
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Accumulated deficit of $89.8 million by Nov. 30, 2023, a 3.8% ...