ENVBHIGH SIGNALFINANCIAL10-K

ENVB shows concerning operational burn with SG&A expenses exploding 277% to $20.5M while cash position collapsed 69% to just $431K, despite equity infusion boosting stockholders' equity 162%.

The dramatic increase in operating expenses combined with severely depleted cash reserves creates immediate liquidity concerns for this small biotech company. While the company appears to have raised capital (evidenced by increased equity and debt), the cash burn rate suggests potential near-term financing needs.

Comparing 2026-03-27 vs 2025-03-28View on EDGAR →
FINANCIAL ANALYSIS

ENVB's financial profile shows a company under significant cash strain despite recent capital raises - stockholders' equity surged 162% to $4.2M and total debt jumped dramatically to $740K, yet cash plummeted 69% to only $431K. The most alarming development is SG&A expenses skyrocketing 277% to $20.5M while capital expenditures nearly disappeared, suggesting the company is burning through cash on operations rather than investing in growth. This combination of minimal cash reserves and massive operational expenses signals potential liquidity distress for investors to monitor closely.

FINANCIAL STATEMENT CHANGES
Total Debt
Balance Sheet
+11378.1%
$6K→$740K

Debt increased 11378.1% — substantial leverage increase; assess whether deployed for growth or covering losses.

SG&A Expense
P&L
+276.6%
$5.4M→$20.5M

SG&A up 276.6% — significant increase in sales or administrative costs, monitor impact on operating leverage.

Stockholders Equity
Balance Sheet
+162.3%
$1.6M→$4.2M

Equity base grew 162.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Capital Expenditure
Cash Flow
-99.1%
$584K→$5K

Capex reduced 99.1% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Current Assets
Balance Sheet
+80.5%
$2.7M→$4.9M

Current assets grew 80.5% — improving short-term liquidity or inventory/receivables build.

Cash & Equivalents
Balance Sheet
-68.5%
$1.4M→$431K

Cash declined 68.5% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Total Assets
Balance Sheet
+65.3%
$3.1M→$5.1M

Asset base grew 65.3% — expansion through organic growth, acquisitions, or capital deployment.

Interest Expense
P&L
-49.1%
$10K→$5K

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Current Liabilities
Balance Sheet
-38.4%
$1.5M→$918K

Current liabilities reduced — improved short-term financial position and working capital health.

Accounts Receivable
Balance Sheet
-18.9%
$7.9M→$6.4M

Receivables declined — improved collection efficiency or conservative revenue recognition.

LANGUAGE CHANGES
NEW — 2026-03-27
PRIOR — 2025-03-28
ADDED
As of March 24, 2026, there were 1,887,535 shares outstanding of the registrant s common stock (par value $ 0.01 per share).
The registrant will file its proxy statement with the Securities and Exchange Commission (the SEC ) within 120 days after the end of the fiscal year covered by this Annual Report.
3 PART I Unless the context indicates otherwise, references in this Annual Report to the Company, Enveric, we, us, our, and similar terms refer to Enveric Biosciences, Inc.
( Ameri and Partners ), a Delaware corporation (the 2015 Merger ).
On May 24, 2021, we entered into an Amalgamation Agreement (the Amalgamation Agreement ) with 1306432 B.C.
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REMOVED
As of March 27, 2025, there were 2,471,656 shares outstanding of Registrant s Common Stock (par value $ 0.01 per share).
Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant s fiscal year ended December 31, 2024.
3 PART I Unless the context indicates otherwise, references in this Annual Report on Form 10-K to the Company, Enveric, we, us, our and similar terms refer to Enveric Biosciences, Inc.
On May 24, 2021, the Company entered into an Amalgamation Agreement (the Amalgamation Agreement ) with 1306432 B.C.
On March 21, 2023, the Company established Enveric Therapeutics Pty.
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