Numinus Wellness CEO Payton Nyquvest spoke with analysts at Water Tower Research last week, and the firm came away bullish on the company’s prospects relative to its rivals.
An analyst note published after the psychedelics company posted fiscal second-quarter results highlighted Numinus' 4.4% increase in client appointments and 1% higher revenue per operating day compared to the previous quarter, with gross margins remaining firm at 39.3%.
In contrast to some of its peers, such as Field Trip and Delic's Ketamine Wellness Centers, who are currently retrenching, Numinus is continuing with its expansion plans, the analyst said.
In Water Tower’s view, Numinus has a steadfast business model built around a diversity of mental health services and a more measured and thoughtful approach to growth.
Additionally, Numinus' recent partnership with healthcare REIT Healing CREI and its licensing program demonstrates the company's strategic approach to growth, the analyst argued. By expanding its clinic platform and increasing patient accessibility with limited capital investment and overhead, Numinus can drive its margins higher while still maintaining a measured approach to growth.
According to Water Tower Research, Numinus is on track to achieve operating profitability within the next 18 to 24 months. The licensing program, the rollout of which is underway, could potentially help Numinus achieve this target even sooner.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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