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Optimi Health

OPTH
20
Drug Manufacturers - Specialty & Generic · Healthcare
Price
$5.00
+0.13 (+2.67%)
Market Cap
$16.1M
Exchange
NASDAQ Capital Market
Winston Score
20
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Share count rising — dilution

+37.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 2.3M (2021) → 3.2M (2025)

Winston Score History

The full picture

Optimi Health Corp. is a Canadian company that grows and manufactures psilocybin and MDMA — substances being studied as potential treatments for mental health conditions like depression and PTSD. It produces these compounds in a regulated facility in British Columbia, supplying researchers, licensed therapists, and clinical trial programs. The company operates in the emerging psychedelic medicine space, which is still in early regulatory development in most countries.

Optimi makes money by selling its manufactured compounds to authorized buyers under Health Canada's special access and research frameworks. It is a very small company with essentially no meaningful revenue yet, and its deeply negative margins reflect the high cost of building out production while sales remain minimal. The key growth driver is regulatory progress — if psilocybin or MDMA gain broader medical approval in Canada or the United States, demand for licensed, pharmaceutical-grade supply could grow significantly, but regulatory delays or rejection remain the central risk to the business.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-49.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-38.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

C$348,190/ year

Rising (+141% vs prior year)

81.6% of revenue

4.5x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

25.8%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~14 months

C$9M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Adequate runway but may need to raise capital within 2 years

Heavy R&D investment

Optimi Health is putting 82% of revenue into R&D and that number is rising. That's 4.5x the sector average.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
-302.6%
Thin — -302.6% gross margin
Profit after running costs
Operating Margin
-1522.6%
Losing money on operations — -1522.6%
Return on the money invested
ROCE
-36.4%
Weak — -36.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-75.5%
Shrinking sales (-75.5% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-3323.1%
Burning cash (-3323.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.28
Conservative — low debt load (0.28)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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