Numinus Reports Q4 & Full Year Fiscal 2023 Results, Including Greatly Reduced Cash Burn Rate
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Numinus Wellness (OTC:NUMIF) reported Q4 and full year fiscal 2023 results, showing a 256.9% year-over-year revenue increase to $23.2 million, largely due to the Novamind acquisition and organic growth. Q4 revenue grew 1.7% to $6.1 million, despite a gross margin decrease to 29.5%. The company reduced its cash burn rate to under $1 million per month and is focusing on profitability. Numinus also partnered with MAPS for MDMA-assisted therapy training and doubled its PAT course cohort.
November 30, 2023 | 4:27 pm
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Numinus Wellness reported a significant year-over-year revenue increase and a reduced cash burn rate, indicating improved financial health and a focus on profitability.
The reported increase in revenue and reduction in cash burn rate are positive indicators of the company's financial performance and operational efficiency. The strategic partnership with MAPS and the expansion of training programs may also contribute to future growth, potentially making the stock more attractive to investors in the short term.
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