Numinus Wellness Inc said its fourth quarter results have demonstrated the power of its larger, cross-broader platform following the completion of its acquisition of Novamind earlier this year.
For 4Q, which ended on August 31, 2022, the integrated mental healthcare company providing psychedelic-assisted therapies reported a 643% jump in revenue to $4.2 million, up from $487,899 for the same period last year.
The company generated $1.3 million in profit during 4Q compared to a $89,674 loss in the year-ago quarter.
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For fiscal 2022, Numinus posted a 329% increase in revenues from $1.5 million in fiscal 2021 to $6.5 million, which the company attributed primarily to acquisitions completed during the year.
Its gross profit for fiscal 2022 was $1.8 million, up from a loss of $81,538 in fiscal 2021.
Numinus CEO Payton Nyquvest said fiscal 2022 was a pivotal year for Numinus as it entered the US market with its acquisition of Novamind, expanded its ketamine-assisted therapy offering across Canada, launched a formal practitioner training program, and unveiled a global rebranding of the company.
“With our strong wellness clinic network and a growing clinical research division, Numinus is one of the best-positioned companies in the sector – supported by diversified revenue streams, growing brand awareness, and a recognized pathway to profitability,” Nyquvest said.
Numinus Wellness helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies.
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