Numinus Wellness (NUMI) Q4 2025 earnings summary

Executive summary

• Revenue grew 29.0% quarter-over-quarter to $2.3 million in Q4 2025, with gross profit rising to $1.4 million from $0.8 million in Q3 2025.

• Practitioner Training revenue surged 387.6% to $1.0 million, reaching a milestone annual profit of $1.2 million versus a prior-year loss.

• Cash position at quarter-end was $0.5 million, with a working capital deficiency of $2.7 million.

Financial highlights

• Gross margin improved to 61.2% in Q4 2025 from 48.3% in Q3 2025.

• Operating expenditures increased to $2.9 million from $1.7 million sequentially.

• Loss and comprehensive loss for Q4 2025 was $881,837.

Outlook and guidance

• Management is focused on completing interim financial reports and regulatory requirements to have the cease trade order revoked and to list shares on the Canadian Securities Exchange.

• Regulatory developments in the U.S. for psychedelic-based treatments are expected to benefit clinical research and practitioner training, pending further agency implementation.