Numinus Wellness Inc. Reports Fourth Quarter Fiscal 2024 Results

In a recent update, Numinus Wellness Inc., a mental health service provider based in Canada, has announced its financial results for the fourth quarter of fiscal 2024. The company, which operates in the health care sector and is listed on the Toronto Stock Exchange, has experienced a challenging quarter, marked by a significant loss.

Financial Overview

For the fourth quarter of 2024, Numinus Wellness reported a loss of $3.11 million. This financial setback comes amidst a backdrop of fluctuating stock prices, with the company’s close price on July 23, 2025, standing at 0.05 CAD. Over the past year, the stock has seen highs of 0.11 CAD and lows of 0.025 CAD, reflecting the volatility in the market. The company’s market capitalization is currently valued at 16.4 million CAD, with a negative price-to-earnings ratio of -0.552181, indicating the challenges it faces in turning a profit.

Operational Highlights

Despite the financial loss, Numinus Wellness has shown some positive operational developments. The company reported a revenue increase of 16.4% over the third quarter of 2024, reaching $1.2 million. This growth is accompanied by an improvement in gross profit, which rose to $0.3 million, compared to a loss of $0.05 million in the previous quarter. Additionally, the company’s cash position as of August 31, 2024, was reported at $2.0 million.

Strategic Developments

In a strategic move, Numinus Wellness completed the sale of its wellness clinic network to Stella, an interventional psychiatry practice, on December 12, 2024. The transaction, valued at US$3.53 million, led to the classification of the U.S. Clinic Network operating segment as discontinued operations in the consolidated financial statements.

Leadership changes have also been a focal point for the company. On January 23, 2025, Michael Tan was appointed as CEO, with Founder Payton Nyquvest transitioning to the role of Executive Chair. This leadership shift aims to steer the company towards a more sustainable future. Additionally, Kelvin Yang was appointed as Interim Chief Financial Officer on February 18, 2025, and later confirmed as the permanent CFO on June 1, 2025.

Looking Ahead

As Numinus Wellness navigates through these financial and operational challenges, the company remains committed to its mission of providing mental health solutions. With new leadership at the helm and strategic adjustments underway, stakeholders are keenly watching to see how the company will leverage its strengths to achieve long-term growth and stability.

For more information on Numinus Wellness and its services, visit their website at www.numinus.ca .