NUMIF - Psychedelics Co. Numinus Narrows Loss In Q3 Reports QoQ Decrease In Revenue Gross Profit | Benzinga
Psychedelics-focused mental health care company Numinus Wellness Inc. (TSX:NUMI) (OTCQX:NUMIF), announced its third quarter financial results on Thursday for the three months ended May 31, 2024.
"In the third quarter of 2024, we continued to make progress on our program to transition Numinus to an operationally lean company prepared to benefit from the anticipated growth in psychedelic therapy. Key to the program is achieving profitability with our existing operations and leveraging our significant experience and expertise to opportunities in the broad market,” Payton Nyquvest, Numinus founder and CEO said.
Q3 2024 Financial Highlights
- Revenue totaled CA$4.3 million ($3.15 million), representing a sequential decrease of 1.9%.
- Numinus Wellness clinics' revenue amounted to CA$3.36 million, representing a 7% decrease compared to CA$3.6 million during the prior quarter, and a drop of 18% compared to CA$4.1 million in the prior year's period.
- Revenues from Cedar Clinical Research were CA0.8 ...