Mene Inc. Reports Financial Results for the Third Quarter 2025

Executive Summary

• Mene Inc. reported IFRS revenue of C$5.9 M for Q3 2025, a 10% year‑over‑year increase, and posted a net income of C$0.1 M.
• Gross profit margin remained steady at ~30%, and cash on hand rose 47% YoY to C$7.8 M, reflecting cost‑saving measures from the operational transformation.
• The company highlighted operational initiatives (targeted digital advertising tests, live‑agent program, SEO/SEM improvements) aimed at sustaining growth in its core U.S. market.

Key Details

• Revenue: C$5,905,100 (↑10% YoY).
• Gross Profit: C$1,793,423; gross margin 30% (consistent with prior periods).
• Net Income: C$58,963 (positive after previous quarters’ losses).
• Adjusted EBITDA: C$326,987 (turn‑around from a negative adjusted EBITDA in Q2 2025).
• Cash Position: Increased to C$7.8 M from C$5.3 M YoY (+47%).
• Cost Savings: Over C$410 k saved YTD in distribution and processing costs, exceeding the annual target.
• Fulfillment Efficiency: Average fulfillment time reduced by 21% YoY in Q3.
• Operational Highlights:
• Launched 20 new product designs; introduced two new accessory lines (Jewelry Tray, Chessboard).
• Sales to returning customers accounted for 73% of total sales.
• Total metal weight sold: 38 kg (3,777 units).
• Featured in Forbes, Air Mail, Superfluity and JCK Magazine; 45,700+ independent customer reviews recorded.
• Growth Initiatives:
• Completed targeted digital advertising test showing promise for lift in sales while lowering ad spend.
• Implemented live‑agent program to improve conversion and customer experience.
• Ongoing SEO/SEM gap analysis and website refresh to strengthen online presence.
• Management Commentary (CEO Vincent Gladu): Emphasized the importance of new‑customer acquisition, noted modest improvements in order metrics versus Q2 2025, and expressed confidence that the Detailed Growth Plan will drive sustained revenue growth into 2026.

Notable Quotes

“While we saw our average order value increase by 32% this quarter year‑over‑year, new customer acquisitions decreased by 14%… We believe that some of the actions we began taking in Q2 as part of the Detailed Growth Plan are in part responsible for this improvement.” – Vincent Gladu, CEO

“We have saved over $410k in total distribution and processing costs year‑to‑date, already exceeding our yearly target… We expect these sorts of cost savings to continue into the future with the continuous improvement philosophy we have adopted.” – Vincent Gladu, CEO