# Q4 Review/2023 in Review | Nucleus

- Canonical URL: https://wefunder.com/feed/169809
- Entity ID: wefunder:feed_item:169809
- Published at: 2024-01-26 20:12:10 UTC
- Updated at: 2025-07-09 03:24:20 UTC

## Author
Logan Lenz

## Subject
Nucleus

## Content
Nucleus family,First of all, I hope everyone had a great holiday season and took some time to slow down and enjoy the most wonderful time of year. Also, I'd like to wish everyone a happy new year as we've welcomed another exciting year of purpose-filled work and innovation. I, for one, spent a great deal of my holiday down time mentally navigating all that has changed within the psychedelics industry in 2023. You don't need to look at a chart to recognize how beaten down the sector has been after a string of events have flooded mainstream media. We went from Aaron Rodgers masquerading around as an industry mascot to ketamine being blamed for the death of a celebrity. All the while, less money is being invested into the space and an industry consolidation has had to occur.Despite all of the industry headwinds, the Nucleus ecosystem has managed to grow throughout the year. Let's kick-off this update with some metrics.Nucleus' Ecosystem GrowthIn Q4, our user counts grew 23% across all of our companies.Nucleus (collectively): 19,023 usersNeuly: 4,606 usersPsychedelic Invest: 6,500 subscribersPsyrise: 29 usersRevenue GenerationWhen we launched the newest version of Neuly a few months ago, it came with a scalable lead generation model that allows us to work with key players in the industry to help them grow their businesses. Since launch, we've generated the following for ourselves and our marketplace partners: 10 neulyresearch requests38 neulyedu students49 neulycare matchesEcosystem Promotions for ClientsOur biggest revenue win in 2023, however, has been our online events. Later in the year, we realized that we had built enough of a targeted audience to quantify and justify price points for larger-scale promotions. Moreover, we maintained a focus on ROI by ensuring any engagement we entered into was a match for the audience we've garnered. In July, we hosted a ketamine clinic event. In October, we partnered with reMind to host an event that garnered over 500 registrants for their business. Both events were such a massive success, that we've doubled down on the model and have since sold promotional packages to several more organizations for 2024. As a teaser for what to expect in revenue projections following this model, we price the planning, promotion, and facilitation of one of these events at $5,000 and aspire to retain each organization at a lower monthly retainer thereafter. In January, we held our most successful event yet with Wondermed.By the end of 2023, we ended up billing right around $80,000 across all of our entities. Cutting Costs in 2024As of January 2024, we've reduced our monthly costs down to $15K. Given that we have already billed $8K in January, we are trimming our burn rate and extended our runway beyond 24 months. Of course this means that we may not pursue as many different things in 2024 as we did in 2023, but our survival and longevity are more important than anything during these uncertain times in the industry. A Strong Focus on RevenueWe've narrowed our focus to the following:Revenue generation through partner promotionsExpanding Neuly's marketplace with enhanced dataPublishing content on Psychedelic Invest frugallySupporting current Psyrise usersPsychedelic Invest UpdatesI'd like to start by sharing the updated industry chart that we keep a close eye on.While the trendlines across the board aren't exciting, there is good news for Nucleus in this chart. Because Psychedelic Invest has established a proven niche in the industry, our organic search has maintained and/or grown over the year. Meanwhile, many of the other well-known websites in the industry have been devastated by algorithm changes and lack of clear focus on audience. Educating Through Content CreationIn Q4, the industry wasn't as noisy as it has been in recent years. We published plenty of content, but the number of industry press releases released decreased a bit. Below is a complete list of all published content in Q4.Press Releases: 698Original Articles and Events: 122Total Published Pieces: 820Reports, PRO Users, and SubscriptionsSince we know all of our investors are curious about psychedelics, we encourage you to check out all of our 2023 industry reports. 2023: The Psychedelic Industry ReportThe Psychedelic Education Market in 2023Psychedelic Medicine Year End Analysis5 Risks While Operating in the Psychedelics Industry in 2024As part of our renewed focus, we will do what we can to maintain reports like these. The current plan is to leverage content packages with paying clients that will share in the buildout of these reports in 2024. Thank You!Thank you so much for your ongoing support. I will continue to update everyone monthly here as we build momentum, gain more traction with our current focuses, and get closer to breakeven moving forward. As always, please reach out to me at logan@withnucleus.com if you ever have any questions, concerns, or ideas.Here's to a fantastic 2024! Now let's go change the world!