Business
Neural Portfolio Company Hanf.com Reports Strong Fiscal 2024 Results with 65% Revenue Growth, Positive Cash Flow and Double-Digit Operating Margin; Continued Growth in 2025; First Half Revenues Up 31% Year-Over-Year
Toronto, Ontario--(Newsfile Corp. - October 8, 2025) - Neural Therapeutics Inc. (CSE: NURL) (FSE: HANF) ("Neural" or the "Company"), an ethnobotanical drug discovery company focused on therapeutic solutions for mental health conditions, together with its portfolio company CWE European Holdings Inc. ("CWE", operating as Hanf.com), one of Germany's leading hemp- and CBD-based retail platforms, is pleased to report the audited financial results of Hanf.com for the fiscal year ended December 31,...
About this update from Neural Therapeutics Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - October 8, 2025) - Neural Therapeutics Inc. (CSE: NURL) (FSE: HANF) ("Neural" or the "Company"), an ethnobotanical drug discovery company focused on therapeutic solutions for mental health conditions, together with its portfolio company CWE European Holdings Inc. ("CWE", operating as Hanf.com), one of Germany's leading hemp- and CBD-based retail platforms, is pleased to report the audited financial results of Hanf.com for the fiscal year ended December 31, 2024.","length":536,"tagName":"p"},{"type":"text","content":"Neural currently holds a 30.75% ownership interest in CWE following completion of a Strategic Investment and Option Agreement on May 26, 2025, providing Neural indirect exposure to CWE's expanding European operations (see Neural press releases dated August 13, 2025 and May 28, 2025).","length":288,"tagName":"p"},{"type":"text","content":"CWE FY2024 ","length":10,"tagName":"p"},{"type":"text","content":"These audited financial statements were prepared in accordance with International Financial Reporting Standards ("IFRS") and the financial statements for the year ended December 31, 2024 audited by Ovadia Kriheli & Co., Certified Public Accountants, an independent member firm of BOKS International.","length":313,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total revenues for the year ended December 31, 2024 were up sharply by 65% to $7.1 million, as compared to $4.3 million for the year ended December 31, 2023. Revenue growth was driven by a combination of new retail stores opening (both directly owned and franchised), as well as same store sales growth due to an expanding product portfolio and overall market dynamics favoring wellness related products;","length":404,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Gross profit for the year ended December 31, 2024, increased 69% to $4.1 million, as compared to $2.4 million for the prior year, representing an improvement of approximately 1.5% in the gross profit margin, up to 58.1% from 56.6% in FY2023;","length":241,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Operating profit for the year ended December 31, 2024 came in at $838,378, a significant improvement over FY2023's $633,583 loss;","length":133,"tagName":"p","a...