# Nucleus: Q1 2024 Update | Nucleus - Canonical URL: https://wefunder.com/feed/171537 - Entity ID: wefunder:feed_item:171537 - Published at: 2024-03-15 04:51:31 UTC - Updated at: 2025-07-09 03:24:36 UTC ## Author Logan Lenz ## Subject Nucleus ## Content Nucleus family,We've recently finished closing our 2023 books and putting together our financial reports for Wefunder. I am pleased to say that Nucleus remains in a stable and promising position given our narrowed burn rate since reducing all expenses in January of this year. The objectives for Nucleus this year are simple:Generate as much revenue as possible.Reduce costs to meet revenue (as close to breakeven as possible).Extend runway to ensure 18-24 months of operations.Innovate with the industry.Now, let's kick-off this update with some metrics.Nucleus' Ecosystem GrowthIn Q1, the Nucleus ecosystem surpassed 20,000 subscribers/users.Neuly will soon rocket past 5,000 users on its platform.Psychedelic Invest is expected to possess over 7,500 email newsletter subscribers by the end of Q2. Psyrise continues to grow its user base by word of mouth, which has driven revenue growth along with it. Goal 1: Generate as Much Revenue As PossibleWe are focusing on driving revenue by helping our partners reach our audience and beyond with great content. More specifically, we talked about the success we've had with online events. We've since put on two exceptional partner webinars and are slated to facilitate many more in Q2. These events have been yielding consistent revenues each month, which is why we continue to promote the opportunity and schedule the events when we know they can help a partner reach its goals. Goal 2: Reduce Costs Wherever PossibleAs of January 2024, we've reduced our monthly costs down to $15K. Given that we ended up billing $8K in January and $6K in February, we have trimmed our burn rate and extended our runway beyond 24 months.Goal 3: Extend Runway and Maintain Cash ReservesWe will continue to look for opportunities to better align expenses with revenue. If revenue doesn't increase, we may need to cut more during or after Q2 to maintain a runway of at least 18 months. The idea is to ensure Nucleus is around for when the psychedelics industry, and market, returns to the level of excitement seen in recent years. Goal 4: Innovate With the IndustryNeuly AINeuly AI will educate journeyers with pertinent and responsible industry informationWe plan to launch our Neuly AI product in the coming months. We're currently refining the model to include intent-based conversations so that we can confidently use the tool to qualify and on-board patients for treatments, students for courses, and investors for companies. Most importantly, we are making sure the tool has the very best industry data around. The planned model for Neuly AI is to not just offer it as a cool toy on Nucleus websites. In addition, we will sell it to anyone operating a relevant website or platform to help them streamline lead generation. After all, the AI can be customized for each deployment, which makes it a major value-add for a high traffic website that may not be converting its traffic. Psychedelic Invest RedesignWe are also working on a rebuild of PsychedelicInvest.com. The forthcoming version will include more general information about psychedelics, our new AI tool (see above), and a more modern look. We don't have a launch date scheduled quite yet, but we will keep everyone posted as we make more progress. Content CreationBelow is a review of all published content in Q1 (so far).Press Releases: 134Original Articles and Events: 22January (5):https://psychedelicinvest.com/allegations-of-sexual-abuse-in-the-psychedelic-industry-how-to-address-and-prevent-misconduct/https://psychedelicinvest.com/anuma-pioneering-psychological-wellbeing-technology-for-serious-disease-care-and-beyond/https://psychedelicinvest.com/the-current-landscape-of-psychedelic-therapist-training/https://psychedelicinvest.com/review-of-the-psychedelic-industry-in-2023-a-year-of-toil-torment-and-triumph/https://psychedelicinvest.com/5-risks-while-operating-in-the-psychedelics-industry-in-2024/February (12):https://psychedelicinvest.com/alto-neurosciences-inc-begins-trading-at-16-per-share/https://psychedelicinvest.com/numinus-wellness-inc-raises-6-million/https://psychedelicinvest.com/police-seizures-of-psilocybin-are-up-369-since-2017/https://psychedelicinvest.com/newsom-moves-california-toward-psychedelic-therapy/https://psychedelicinvest.com/fda-accepts-mdma-for-ptsd-therapys-new-drug-application/https://psychedelicinvest.com/a-doctor-is-suing-the-dea-to-treat-terminally-ill-patients-with-psilocybin/https://psychedelicinvest.com/new-mexico-takes-bold-steps-towards-psilocybin-therapy-research/https://psychedelicinvest.com/unveiling-the-mysteries-of-the-mind-a-landmark-event-in-new-orleans/https://psychedelicinvest.com/similarities-between-ai-and-psychedelics/https://psychedelicinvest.com/illinois-embarks-on-a-legalization-journey-for-psilocybin-therapy/https://psychedelicinvest.com/save-the-date-psychedelic-science-returns-in-2025/https://psychedelicinvest.com/psychedelics-effects-on-sexual-functions/March (5):https://psychedelicinvest.com/ketamines-short-and-long-term-effects-on-depression/https://psychedelicinvest.com/braxia-scientific-corp-shows-resilience-amid-financial-challenges/https://psychedelicinvest.com/the-state-of-advertising-psychedelics-online/https://psychedelicinvest.com/the-rising-curiosity-in-psilocybin-gummies/https://psychedelicinvest.com/the-bluesky-wellness-and-lucy-scientific-deal-is-a-no-go/Podcast Episodes (5):https://psychedelicinvest.com/marik-hazan-invests-in-healthcares-biggest-blindspots-podcast-episode-43/https://psychedelicinvest.com/cory-firth-is-committed-to-a-career-empowering-wellbeing-podcast-episode-44/https://psychedelicinvest.com/rebecca-nicholson-is-advancing-the-field-of-wellness-for-all-podcast-episode-45/https://psychedelicinvest.com/robin-arnott-sandeep-prakash-are-building-meditative-states-through-sound-podcast-episode-46/https://psychedelicinvest.com/alex-atwood-is-a-psychedelic-integration-coach-podcast-episode-47/Total Published Pieces in Q1 (so far): 161Thank You!As always, thank you so much for your ongoing support. I will continue to update everyone here as often as possible during this uncertain time. You can expect a financial update to be released through Wefunder before the end of March. If you ever have any questions ideas, concerns, or comments, please reach out to me directly at logan@withnucleus.com.Let's go change the world!