Mene (MENE) Q3 2025 earnings summary

Executive summary

• Revenue increased 10% year-over-year to $5.9 million for Q3 2025, with gross profit of $1.8 million and a stable 30% gross margin.

• Net income reached $0.1 million, reversing losses from prior quarters.

• 3,777 jewelry units sold, totaling 38 kg of gold, with 73% of sales from returning customers.

• Operational transformation delivered over $410k in cost savings year-to-date and reduced fulfillment time by 21% year-over-year.

• Cash position increased 47% year-over-year to $7.8 million.

Financial highlights

• IFRS revenue for Q3 2025 was $5.9 million, up from $5.4 million in Q3 2024.

• Gross profit margin remained steady at 30% year-over-year.

• Adjusted EBITDA for Q3 2025 was $327k, compared to a loss of $54k in Q3 2024.

• Non-IFRS adjusted revenue for Q3 2025 was $7.1 million.

• Total shareholders' equity stood at $17.6 million at quarter end.

Outlook and guidance

• Strategic focus for late 2025 and 2026 is on sustained revenue growth in the US market and increasing new customer acquisitions.

• Ongoing improvements in digital advertising, SEO/SEM, and website experience expected to continue into 2026.

• Management expects continued cost savings and operational efficiencies to fund growth initiatives.