One Company Leading the Way With 31.8% Revenue Growth During Q3 2022 is Numinus Wellness Inc. (TSX:NUMI, OTCQX:NUMIFTSX:NUMI, OTCQX:NUMIF)

As the national mental health crisis continues to escalate, more people are turning to alternative treatment providers for assistance, and it’s creating a unique opportunity for fast-acting investors.

Currently, 26% of Americans age 18 and over (approximately 1 in 4 adults), suffer from a diagnosable mental disorder in a given year, according to John Hopkins Medicine.1

In Canada, more than 6.7 million people live with a mental health problem or illness.2 In addition, 1 in 4 Canadian adults screened positive for symptoms of depression, anxiety, or posttraumatic stress disorder (PTSD) in the spring of 2021.3

In response to these numbers and the perceived ineffectiveness of many traditional treatments, many states and countries are turning to alternative treatment methods like psychedelics for therapeutic purposes.

For instance, Atlanta is now considering decriminalizing “magic mushrooms” and other psychedelics.4 Meanwhile, San Francisco has already decriminalized them.5

In Canada, psychedelics are also being welcomed into the mainstream of mental health treatment.6

Why Numinus Wellness (TSX:NUMI, OTCQX:NUMIFTSX:NUMI, OTCQX:NUMIF) is a Company to Watch in the Coming Weeks, Months & Years

As the psychedelics market continues to grow and take shape, it’s companies that combine high-quality product offerings with integrated mental health care treatment options may have the best chance of standing out.

Numinus Wellness is quickly proving this to be true. Its acquisition of Novamind in June instantly made it a top revenue-producing psychedelics company.

As a result of the acquisition, Numinus now operates 13 wellness clinics, four clinical research facilities and a dedicated psychedelics research lab – positioning the company as a leading integrated mental wellness company providing ketamine- and psychedelic-assisted therapies.

In addition to that acquisition, Numinus Wellness has made a series of other moves that have allowed it to build a firm foundation in the growing alternative health market.

For instance, in June the company introduced a new visual brand identity meant to better illustrate its continued growth as a leading mental health care company providing psychedelic-assisted therapies across North America.

Then in September, Numinus announced that its Toronto clinic, the Neurology Centre of Toronto by Numinus, had begun offering ketamine-assisted therapy for patients with neurologic conditions.

Amid these announcements, the company reported strong Q3 results in July, including revenues that were up approximately 32% year-over-year and clinic network revenues that grew 59.5% from the same quarter last year.

Numinus also ended the quarter with a strong cash position of $41.8 million.

Putting it all together, this appears to be an integrated mental health care company that is moving up in the market. 

Here are six reasons why investors may want to perform additional due diligence on this rapidly growing company in a rapidly growing market.

6 Reasons to Consider Adding Numinus Wellness Inc. (TSX:NUMI, OTCQX:NUMIFTSX:NUMI, OTCQX:NUMIF) to Your Watchlist

  1. Integrated Approach – The Numinus business model – including psychedelic production, research, and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use.
  2. Massive Market – The global mental health market size7 accounted for US$ 381.98 billion in 2020 and is estimated to be US$ 527.44 billion by 2020 and Numinus is addressing that market with end-to-end mental health services. As one example, it has a dealer’s license from Health Canada to possess, produce, assemble, sell, import, export, deliver, and distribute LSD, ketamine, MDMA, psilocybin, psilocin, DMT, and mescaline.
  3. Complementary Business Lines – The Numinus Wellness business model includes a network of 13 clinics that deliver comprehensive mental health services and a network of four clinical research sites offering research management services. The company’s clinical network revenues were up significantly in Q3.
  4. Strong Financials – Numinus saw revenues grow by 31.8% in Q3 2022 compared to Q3 2021. The company has also amassed a strong balance sheet that includes $41.8 million in cash on hand.
  5. MAPS Partnership – Numinus Wellness’ psychedelics-assisted therapy for PTSD, which is the first of its kind in Canada, is being developed in collaboration with the Multidisciplinary Association for Psychedelic Studies (MAPS). MAPS is the leading developer of MDMA-assisted therapy training programs, treatment protocols, and research.
  6. Novamind Acquisition – This acquisition positioned Numinus as a top revenue-producing integrated mental healthcare company providing psychedelic-assisted therapies. The acquisition of Novamind was completed on June 10 with Novamind shareholders receiving 0.84 Numinus shares per Novamind share.

A Closer Look at What Separates Numinus from the Competition

We know many people are struggling with mental health these days. From kids and young adults struggling with stress, anxiety, and depression to older adults flooding emergency rooms across North America seeking help for mental health-related issues.

The good news is psychedelic drugs have shown promise in treating these conditions. That’s why the US Food and Drug Administration recently classified psilocybin as a “breakthrough therapy,” a classification intended to get promising drugs to market faster.8

With the attention on psychedelics increasing, Numinus Wellness (TSX:NUMI, OTCQX:NUMIFTSX:NUMI, OTCQX:NUMIF) has quickly become a recognized leader in the space with its research lab recently featured in a Bloomberg article about the incredible potential of “magic mushrooms”.9

Here’s a closer look at a few of the biggest reasons why Numinus is standing out in this new market:

Reason #1 – Transformative Platform

While there are companies developing psychedelic treatments and companies are offering other alternative mental health treatment approaches, nobody is combining both of these things in such a highly complementary manner as Numinus Wellness.

Numinus helps people to heal and be well through the development and delivery of innovative mental health care AND access to safe, evidence-based psychedelic-assisted therapies. The Numinus model – including psychedelic production, research and clinical care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use.

To put it another way, Numinus is leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.

Reason #2 – Different from the Rest

Most psychedelic companies in this young marketplace are focused on research and thus not producing revenue.

Numinus Wellness (TSX:NUMI, OTCQX:NUMIFTSX:NUMI, OTCQX:NUMIF) is standing out from the crowd thanks to its network of clinics. As of July 14, 2022, following the acquisition of Novamind, Numinus grew its number of wellness clinics to 13 (one in Vancouver, one in Toronto, three in Montreal, eight in Utah, and two in Arizona).

These state-of-the-art clinics address a variety of mental health needs, including: depression, anxiety, bipolar disorder, substance use disorder, ADHD, OCD, PTSD, eating disorders, suicidal ideation, and much more.

Among the treatments offered by the clinics are:

  • Traditional therapy and counseling
  • Virtual psychotherapy
  • Mindfulness programs
  • Neurological services
  • Transcranial Magnetic Stimulation (TMS)
  • Ketamine-assisted therapies
  • Psychedelic-assisted therapies (with MDMA or Psilocybin for SAP-approved clients
  • KAP Pod Program
  • Psychiatric medical model management
  • Insurance coverage expertise

With the acquisition of Novamind, Numinus immediately became one of the highest revenue-producing mental health care companies providing psychedelic and ketamine-assisted therapies, with more than $12 million of combined proforma annual revenues (based on trailing four quarters).

The company recently reported that in Q3 its clinic network revenues grew 7.5% compared to the prior quarter.

Now here’s a quick look at how Numinus Wellness (TSX:NUMI, OTCQX:NUMIFTSX:NUMI, OTCQX:NUMIF) compares to other companies in the marketplace:

Reason #3 – Rapid Expansion

As mentioned earlier, the acquisition of Novamind was a major development for Numinus Wellness this year.

It had an immediate impact on the company in a variety of ways. For one thing, the clinic-side of the company’s business jumped in size as the graphic below shows.

In addition, wellness clinic performance also improved dramatically. For instance:

  • There were 6,200+ appointments held across the US and Canada in August, up 25% compared to July 2022
  • There were 4,900+ appointments across US clinics only in August, +22% compared to July 2022
  • There was a 35% growth in Ketamine therapy appointments
  • Finally, there was a 23% increase in TMS appointments

All of this growth positively impacted Numinus’s bottom line. Additional developments also had a positive effect on revenue.

For example, the company began offering ketamine-assisted therapy for patients with neurologic conditions at its Toronto clinic, the Neurology Centre of Toronto (NCT) by Numinus.

NCT focuses on conditions including epilepsy, concussion, brain injury and functional neurological disorders, offering a comprehensive range of services that include primary neurologic care and supportive therapies offered by a team of over 20 specialists.

The new service is being led by a psychologist and follows Numinus’ existing protocol for ketamine-assisted therapy, already in use in its other locations in Canada and the US, which includes sessions for medical screening, medicine dosing and therapy for integration. 

Reason #4 – Health Canada Licensed Research

Numinus Wellness (TSX:NUMI, OTCQX:NUMIFTSX:NUMI, OTCQX:NUMIF) was the first public company to complete a legal harvest of psilocybe mushrooms, otherwise known as “magic mushrooms” and is among the first public companies licensed to handle a variety of different psychedelic substances including ketamine, LSD, mescaline, N,N-Dimethyltryptamine (DMT), N-Methyl-3,4, methylenedioxyamphetamine (MDMA), psilocin, and psilocybin.

From making notable progress toward treating patients with post-traumatic stress disorder (PTSD) through a compassionate access trial for psychedelics-assisted therapy to developing new and innovative techniques to efficiently grow psilocybe containing mushrooms – Numinus has been very busy with innovative R&D.

The psychedelics-assisted therapy for PTSD, which is in collaboration with the Multidisciplinary Association for Psychedelic Studies (MAPS), is the first of its kind in Canada.

MAPS is the leading developer of MDMA-assisted therapy training programs, treatment protocols, and research. So, when Health Canada cleared the MAPS-sponsored single-arm, open-label safety and feasibility study evaluating MDMA-assisted therapy for post-traumatic stress disorder, this was a huge boost for the pair.14

In February, Numinus Wellness advanced the trial and successfully transitioned into the pre-implementation stage at its Vancouver clinic.15

In March, Numinus announced that its Montreal site had begun drug administration. The treatment follows MAPS’ protocol of three sessions of MDMA administration and therapy, each to be followed by three integration sessions.

And these aren’t the only exciting R&D activities taking place at Numinus:

  • Numinus was named a licensed Psilocybin supplier by Health Canada for Canada’s Special Access Program
  • Numinus received approval from Health Canada to study Ayahuasca and San Pedro (football fans might recognize Ayahuasca, which is the substance four-time NFL MVP Aaron Rodgers said he took during a recent trip to Peru and which he credited for helping him subsequently perform at an MVP level.)
  • Numinus was approved for a Containment Level 2 License – “This biosecurity expansion will allow us to deeply understand not only the mechanisms behind Psilocybe mushrooms and other naturally occurring psychedelic materials but also their interaction with the human body,” said Sharan Sidhu, Science Officer and General Manager, Numinus Bioscience.

Reason #5 – Strong Revenue Generation

We mentioned the revenue generating capabilities of the company’s clinical network earlier, but it bears repeating here:

In Q3 2022, the company’s clinic network revenues grew nearly 60% from the same quarter last year and nearly 8% compared to the prior quarter. And the company’s clinical revenue generating capabilities don’t just come from the wellness clinics.

Cedar Clinical Research, the clinical trial management division of Numinus that was acquired through Novamind, has also been busy.

CCR continues to achieve positive operational growth. During Numinus’ fiscal fourth quarter, the division recruited 178 clinical trial participants for 16 third-party clinical studies, representing a 19% increase in clinical trial participation compared to the fiscal third quarter.

Currently, CCR is hosting clinical trials for depression, PTSD, cannabis use, schizophrenia, end-of-life, and traumatic brain injury. In May, CRR was chosen to host a Phase II randomized clinical study for the acute treatment of social anxiety disorder (SAD).

The success of CCR is just another reason why Numinus Wellness (TSX:NUMI, OTCQX:NUMIFTSX:NUMI, OTCQX:NUMIF) continues to separate itself in the marketplace and generate higher profits.

In its Q3 earnings report, the company cited revenues that were $741,064 in Q3 2022 (a 31.8% year-over-year increase). But these figures do not even include the positive impact of the acquisition of Novamind!  The first quarter of results that include Novamind’s operations will be published at the end of November.

Numinus Wellness also reported a positive cash balance of $41.8 million as of May 31, 2022.

Financial highlights from the first nine months of 2022 (before the acquisition of Novamind):

  • Revenues grew 126.5% year-over-year to $2.3 million due primarily to the continued post-acquisition growth of Novamind and the acquisition of NCT.
  • Gross margin during the first nine months of 2022 was 19.9%, compared to -11.1% in the same period last year.
  • Gross profit during the first nine months of 2022 was $460,569, a significant improvement compared to the gross loss of $113,356 in the same period of 2021.

On a pro-forma basis, including the performance from both Numinus and Novamind (prior to the acquisition), the combined company would have generated nearly $12 million of revenue in the trailing four quarters, and would have achieved 14.8% compounded quarterly revenue growth in that same period. 

Reason #6 – A Knowledgeable Leadership Team

The Numinus Wellness (TSX:NUMI, OTCQX:NUMIFTSX:NUMI, OTCQX:NUMIF) team consists of a terrific blend of acclaimed scientists, mental health experts, and successful entrepreneurs. Team members include:

Payton Nyquvest, Co-founder & Chief Executive Officer Executive – 15+ years in Canada/US capital markets, including raises for early cannabis. Raised $100M+ for public and private companies across North America. Former VP and Head of Sales of one of Canada’s largest independent brokerages.

Dr. Evan Wood, MD, PhD Chief Medical Officer – Research leader on addiction medicine and driver of major health policy reform. Contributed to international guidelines on treatment of HIV in substance users; establishment of Canada’s first supervised injecting site and standards of care; legalization of adult hemp use; and national clinical therapeutic guidelines for multiple substance use disorders. Former Tier 1 Canada Research Chair, UBC Professor of Medicine, founding Executive Director of BC Centre on Substance Use. Published 500+ scientific articles.

Michael Tan, President & Chief Operating Officer – 20+ years’ operations leadership driving business transformation for global companies, including Indigo, Hudson’s Bay, UPS, and Saks Fifth Avenue. Launched province-wide recreational cannabis operations in BC as founding executive Director of the BC Liquor Distribution Branch-Cannabis Division.

John Fong, CPA Chief Financial Officer – 15+ years building global financial operations for private and public companies (TSX-V, NYSE, London AIM, Lima SE), with experience across mining & resources and technology. Led a precious metals company from exploration to commercial production in 3 years, with net income of $100M and operating cash flow of $98M.

Combine all 6 reasons together and it makes a pretty compelling argument for investigating Numinus Wellness further. To help you get started performing due diligence on this standout company, here is a recap of major points working in Numinus’s favor.

RECAP: 8 Reasons to Consider Investing in Numinus Wellness (TSX:NUMI, OTCQX:NUMIFTSX:NUMI, OTCQX:NUMIF):

  1. Prolific Investors Entering the Market – Peter Thiel, the founder of Paypal and Palantir, has been investing in psychedelics, along with Kevin O’Leary and Bruce Linton.
  2. Regulatory Changes Happening Fast – Just like what happened with cannabis in its infancy, psychedelics are gaining momentum as the regulatory policies begin to adapt to the evolving landscape.
  3. Multiple Revenue Streams – Numinus has a multi-pronged profit strategy that encompasses two different segments of the market and provides the company with a diversified and synergistic approach to success.
  4. Health Canada-Licensed Lab – It’s the first public company with a license to cultivate and harvest psilocybin for research and development. Future products are planned.
  5. Strong Financial Footing – It has more than $41 million in cash in the bank to execute its business milestones.
  6. Huge Potential Upside – Numinus has a low market capitalization relative to the total addressable market value (which is $100 billion). The company was valued at US$44.44 million on Sept. 21, 2022.
  7. Seasoned Management & R&D Team – The company has a medical team with over 500+ peer-reviewed publications and a management team with a strong capital markets IQ.
  8. Producing Profits Now – Unlike other companies in the psychedelic market that are mainly conducting research at this point, Numinus is generating profits through its clinical network.

1https://www.hopkinsmedicine.org/health/wellness-and-prevention/mental-health-disorder-statistics
2 https://www.mentalhealthcommission.ca/wp-content/uploads/drupal/2016-06/Investing_in_Mental_Health_FINAL_Version_ENG.pdf
3 https://www150.statcan.gc.ca/n1/daily-quotidien/210927/dq210927a-eng.htm
4 https://www.benzinga.com/markets/cannabis/22/09/28855120/another-us-city-council-joins-psychedelics-decriminalization-discussion-this-week
5 https://www.benzinga.com/markets/cannabis/22/09/28782385/san-francisco-update-psychedelics-are-finally-decriminalized-this-is-the-new-resolution-backed-b
6 https://www.bloomberg.com/news/newsletters/2022-02-07/psychedelics-access-in-canada-is-slowly-taking-shape
7 https://www.globenewswire.com/en/news-release/2022/06/22/2467263/0/en/Global-Mental-Health-Market-is-estimated-to-be-US-527-44-billion-by-2030-with-a-CAGR-of-3-40-during-the-forecast-period-By-PMI.html
8 https://www.bloomberg.com/news/features/2022-08-22/magic-mushrooms-grow-in-startup-labs-as-legal-status-changes
9 https://www.bloomberg.com/news/features/2022-08-22/magic-mushrooms-grow-in-startup-labs-as-legal-status-changes
10 https://ir.compasspathways.com/news-releases/news-release-details/compass-pathways-announces-financial-results-fourth-quarter-and
11 https://www.prnewswire.com/news-releases/mindmed-reports-full-year-2021-financial-results-and-business-highlights-301511500.html
12 https://www.google.com/search?q=ATAI+revenue&sxsrf=ALiCzsYs8IVRXiH0Y1Hv-2zjQT3bk2MMQQ%3A1663788129364&ei=YWQrY_XeFcGliLMPxpuFgAE&ved=0ahUKEwi1k7rjzab6AhXBEmIAHcZNARAQ4dUDCA4&uact=5&oq=ATAI+revenue&gs_lcp=Cgdnd3Mtd2l6EAMyBggAEB4QFjIFCAAQhgMyBQgAEIYDOgoIABBHENYEELADOgcIABCwAxBDOgUIABCABDoICAAQHhAWEApKBAhBGABKBAhGGABQuwdY-A1gmBBoAXABeACAAYUDiAHDCpIBBzEuMC4xLjOYAQCgAQHIAQnAAQE&sclient=gws-wiz
13 https://www.wallstreetzen.com/stocks/us/nysemkt/cybn/earnings
14 https://www.newswire.ca/news-releases/numinus-announces-health-canada-approval-of-maps-sponsored-open-label-study-for-mdma-assisted-therapy-for-ptsd-864100377.html
15 https://tinyurl.com/c79yusjy

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FORWARD LOOKING INFORMATION

This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect expectations regarding Numinus Wellness Inc. future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Numinus Wellness Inc. industry; (b) market opportunity; (c) Numinus Wellness Inc. business plans and strategies; (d) services that Numinus Wellness Inc. intends to offer; (e) Numinus Wellness Inc. milestone projections and targets; (f) Numinus Wellness Inc. expectations regarding receipt of approval for regulatory applications; (g) Numinus Wellness Inc. intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Numinus Wellness Inc. expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Numinus Wellness Inc. business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Numinus Wellness Inc. ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Numinus Wellness Inc. ability to enter into contractual arrangements; (e) the accuracy of budgeted costs and expenditures; (f) Numinus Wellness Inc. ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Numinus Wellness Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Numinus Wellness Inc. operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact Numinus Wellness Inc. business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Numinus Wellness Inc. business operations (e) Numinus Wellness Inc. may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, the Website Host undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise.

HISTORICAL INFORMATION

Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Numinus Wellness Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Numinus Wellness Inc. or such entities and are not necessarily indicative of future performance of Numinus Wellness Inc. or such entities.