ENVBHIGH SIGNALFINANCIAL10-K

ENVB shows a dramatic deterioration in cash position alongside substantially reduced capital expenditures, signaling potential liquidity constraints.

The company's cash and equivalents dropped sharply from $1.4M to $431K, representing a concerning depletion of readily available funds for a small biotech company. While current assets increased due to higher accounts receivable, the severe reduction in actual cash raises questions about the company's ability to fund ongoing operations and research activities without additional financing.

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

ENVB's financial position presents mixed signals with total assets growing meaningfully to $5.1M driven by higher current assets, while current liabilities decreased modestly to $918K. However, the most concerning development is the sharp decline in cash reserves to just $431K, coupled with capital expenditures falling to minimal levels at $5K. This pattern suggests potential cash conservation measures and possible constraints on the company's ability to invest in its drug development programs.

FINANCIAL STATEMENT CHANGES
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.
Our principal corporate office is located at Enveric Biosciences, Inc., 245 First Street, Riverview II, 18th Floor, Cambridge, MA 02142, telephone (617) 444-8400.
Our internet address is https://www.enveric.com/, and the information included in, or linked to our website is not part of this Annual Report.
We have included our website address in this Annual Report solely as a textual reference.
Business Overview We are a biotechnology company focused on developing next-generation, small-molecule neuroplastogenic therapeutics that address unmet needs in psychiatric and neurological disorders.
By leveraging a differentiated drug discovery platform and a growing library of patent protected chemical structures, we are advancing a pipeline of novel compounds designed to promote neuroplasticity without hallucinogenic effects.
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.
Ltd., an Australia-based subsidiary ( Enveric Therapeutics ), to support the Company s plans to advance the EVM201 Series, comprised of the next generation synthetic prodrugs of the active metabolite, psilocin, towards the clinic.
Enveric Therapeutics was established to oversee the Company s intended preclinical, clinical, and regulatory activities in Australia, including interactions with the local Human Research Ethics Committees ( HREC ) and the Therapeutic Goods Administration, Australia s regulatory authority.
Enveric has since out-licensed the EVM201 Series asset to MycoMedica Life Sciences, Inc.
Available Information We are required to file Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q with the Securities and Exchange Commission (the SEC ) on a regular basis, and are required to disclose certain material events in Current Reports on Form 8-K.
The SEC maintains an Internet website that contains reports, proxy and information statements and other information regarding issuers that file electronically with the SEC.
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