Numinus CEO Payton Nyquvest On Q2 2023 Financial Results And Numinus Network
On this new Psychedelic Series Podcast, TDR Founder Shadd Dales spoke with Payton Nyquvest, CEO of Numinus Wellness Inc. (TSE: NUMI) (OTCMKTS: NUMIF). The podcast focused on additional feedback regarding the company’s recent second quarter 2023 financial results, an updated picture of the cash burn situation, the importance of its Numinus Network program and more.
Regarding the latter, the new Numinus Network licensing and services arrangement is designed to help practitioners who become partners have access to a proven clinic model. This includes comprehensive training curriculum, access to company treatment protocols, ongoing operational and marketing support and brand to help practitioners thrive.
The news comes on the heels of the company’s launch of the Numinus Certification Pathway – a collection of psychedelic-assisted therapy training courses uniquely selected to provide practitioners with complete PAT training, including an experiential component and practicum. Put together, the plan it to allow Numinus to foster clinic growth with minimum direct capital expenditure exposure for the company.
And this licensing program (Numinus Network) allows us to go into either new locations, or find practitioners that want to be able to offer and get ready for—one, offer ketamine therapy ; but two, get ready for when MDMA is available, while still being able to offer their traditional practice, and get prepared for that. And so this licensing platform that we’ve built, you know, is really consolidating all of the expertise we have around clinic management. And being able to scale that without, you know, the costs associated with either acquisitions, or, you know, building and creating brick & mortar infrastructure ourselves.
Numinus Wellness CEO, Payton Nyquvest
In financial parlance, a capital expenditures (CapEx) light model refers to a business model that requires minimal capital outlays to operate. In turn, CapEx refers to the money a company spends to purchase, maintain, or upgrade physical assets such as buildings, equipment, and land.
A CapEx light model is a business strategy that emphasizes minimizing these expenditures to reduce costs and increase profits. Instead of investing heavily in physical assets, companies using this model focus on leveraging digital technology and outsourcing non-core functions to minimize expenses.
This is especially critical in the burgeoning psychedelic-assisted therapy niche, which has already seen Field Trip Health go into creditor protection after running out of money and ability to raise money. One reason: outlandish spending on new clinics without the commensurate revenue to support them.
To view our previous podcast with Numinus CEO Payton Nyquvest, click here.
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