Mene (MENE) Q1 2025 earnings summary

Executive summary

• IFRS revenue reached $7.3 million in Q1 2025, up 52% year-over-year, with gross profit of $1.7 million and a stable 23% gross margin.

• Total comprehensive loss improved to $0.2 million, a $0.5 million year-over-year improvement.

• 45 kg of jewelry sold (4,336 units), with 68% of sales from returning customers and 12 new product designs launched.

• Over $200 million in total metal now held by customers, with cumulative jewelry units sold reaching 185,000.

Financial highlights

• Non-IFRS adjusted revenue was $8.2 million, reflecting adjustments for returns, undelivered orders, and discounts.

• Adjusted EBITDA was $94,356, a turnaround from a loss of $375,016 in the prior year.

• Shareholders' equity stood at $17.8 million at quarter end.

• Inventory balance was 73 kg of gold.

Outlook and guidance

• Strategic focus for 2025–2026 is on sustained sales growth in the USA, increasing order volume and new customer acquisition.

• Emphasis on expanding PR, influencer partnerships, and retail collaborations to drive growth.