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I would like to provide an update on how our operational transformation has benefited Menē so far since its launch in the middle of the first quarter. Ultimately, it is the cost savings from this transformation that we will use to fund our growth initiatives. Overall, we have saved a total of over $410,000 in sales and processing costs since the beginning of the year, already exceeding our annual goal. At the same time, we managed to reduce the average fulfillment time in the third quarter by 21% year-on-year. Additionally, in the third quarter, we increased our cash balance by 47% year-over-year from $5.3 million to $7.8 million. We expect these types of cost savings to continue into the future thanks to the continuous improvement philosophy we have adopted in operations and manufacturing.
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As always, we continue to strive to make Menē a company that will stand the test of time, with a focus on unparalleled craftsmanship and customer service rather than market trends and other extrinsic factors. Speaking of unparalleled craftsmanship, if you haven’t checked out our new arrivals for the holiday season yet, you can do so here. There is a suitable gift for every occasion, taste and budget. Whether it’s the sacred palm rosary, the luminous North Star pendant or the iconic poker chips, you’re sure to find a gift that will be remembered for a long time and is sure to become a family heirloom. This year we also have the pleasure of introducing two must-have accessories for the first time: the extremely practical jewelry tray that lays flat when traveling and the stunning chessboard. Handcrafted from ebony and walnut and made specifically for the Menē chess pieces, it can be purchased separately but is also offered as a gift when you purchase a complete Menē chess set. What a great way to celebrate the holidays this season.
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Non-IFRS measures
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This press release contains non-IFRS financial measures; The Company believes that these measures provide investors with useful additional information about the financial performance of its business, enable comparison of financial results between periods during which certain items may vary regardless of business performance, and provide greater transparency regarding key metrics used by management in operating its business. Although management believes that these financial measures are important in evaluating corporate performance, they are not intended to be viewed in isolation or as a substitute or superior to financial information prepared and presented in accordance with IFRS. These non-IFRS financial measures do not have standardized meanings and may not be comparable to similar measures used by other companies. There are no directly comparable amounts under IFRS for certain non-IFRS financial measures. These non-IFRS financial measures should not be viewed as alternatives to financial performance measures determined in accordance with IFRS. In addition, certain of these metrics are presented on a year-over-year basis for comparison purposes, and investors should be cautioned that the impact of the adjustments contained herein will have an actual impact on the Company’s operating results.
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Adjusted non-IFRS revenue is a non-IFRS measure. The company adjusts its revenue by adding the value of jewelry returned by customers, revenue from orders not yet delivered, and discounts provided to customers. These adjustments are made to determine gross sales before deducting these items per IFRS sales. The most comparable IFRS measure is sales.
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Adjusted Non-IFRS Income (Loss) is a non-IFRS measure. Non-IFRS adjusted income (loss) is a non-IFRS measure calculated as comprehensive income (comprehensive income), excluding depreciation, stock-based compensation, capital gains, losses on extinguishment of debt, revaluation of metal loans, translation gains or losses, unrealized foreign exchange gains or losses and other non-recurring expenses. The most comparable IFRS measure is comprehensive income (comprehensive income).
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Adjusted EBITDA calculated as comprehensive operating income (loss), excluding depreciation, amortization, stock-based compensation and other one-time expenses. The most comparable IFRS measure is total operating income (loss).
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Tangible Common Equity is a non-IFRS measure. It is calculated as total equity excluding intangible assets.
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For a complete definition of the non-IFRS financial measures used herein in relation to their closest IFRS equivalents, see the “Non-IFRS Financial Measures” section in the Company’s MD&A for the quarter ended September 30, 2025.
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About Menē Inc.
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Menē creates jewelry made from pure 24-karat gold and platinum, sold transparently by gram weight. Through mene.com, customers can purchase jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at current market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by combining innovative technology, timeless design and pure precious metals to create pieces that endure as stores of value.
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For more information about Menē, visit mene.com.
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Cautionary Note Regarding Forward-Looking Information:
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This press release contains certain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities laws, which are based on expectations, estimates and projections as of the date of this press release. Any statements that involve discussions of predictions, expectations, beliefs, plans, forecasts, objectives, assumptions, future events or performance (often, but not always, using language such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and expressions or statements that certain actions, events or Results “may” or “could”, “would”, “might” or “will” occur or be achieved are not statements of historical fact and may be, and are intended to identify, forward-looking information. In particular, but without limiting the foregoing, this press release contains forward-looking information regarding the Company’s business plans and objectives for the current fiscal year and 2026; strategy, growth and marketing plans; future cost savings and associated benefits to the Company; and plans related to sales growth.
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This forward-looking information is based on reasonable assumptions and estimates made by management
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This forward-looking information is known as of the date hereof and involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. These factors include, but are not limited to: the inability to successfully acquire and/or develop jewelry manufacturing facilities; the inability to predict or control the adverse effects of tariffs and global trade patterns; the inability to predict and address the impact of pandemics on the Company’s business, including, but not limited to, the impact of pandemics and other infectious diseases that emerge as major health concerns and impact the price of precious metals, capital market conditions, labor restrictions and international travel and supply chains; failure to comply with environmental, health and safety laws and regulations; operational or technical difficulties associated with the manufacture, sale and distribution of jewelry; actual audited results differ from reported unaudited results; global economic climate; dilution of the Company’s shares; the Company’s limited operating history; future capital needs and uncertainty of raising capital; the competitive nature of the jewelry industry; exchange rate risks; inflation risks; risks related to changing consumer preferences; the need for the Company to accommodate its planned growth and expansion; the impact of product development and the need for continued technology and manufacturing changes; protection of property rights; the impact of government regulation and compliance on the Company and the industry; network security risks; the Company’s ability to maintain properly functioning systems; theft and risk of physical harm to staff; trust and availability of key personnel; deterioration in global economic and financial markets that impedes access to capital or increases the cost of capital; and volatile securities markets, which affect securities prices regardless of operating performance. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as expected, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information, except as required by law.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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View source version on businesswire.com:
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https://www.businesswire.com/news/home/20251119038924/en/
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Media and investor relations inquiries:
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Sean You
CFO
Mene Inc.
ir@mene.com
+1 289 748 3702
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