Novus Acquisition & Development Corp. (OTC: NDEV), operating as Novus Cannabis MedPlan, recently published its interim financial report for the period ending September 30, 2026. The Q3 2026 filings demonstrate a sustained trajectory of disciplined capital allocation, steady revenue expansion, and a highly fortified balance sheet. Operating strictly as a health plan carrier and benefits administrator, NDEV maintains a strict non-plant-touching posture, deriving all revenues and profits strictly from member plan fees and insurance policy premiums.
Q3 2026 Financial Highlights
Management utilizes an Embedded Value (EV) metric to establish potential investment value, calculating intrinsic value by summing net assets and the present value of future profits generated from existing policies. For the nine months ended September 30, 2026, the company achieved the following performance metrics:
- Gross Revenue: Delivered a 7.78% year-over-year increase.
- Total Assets: Achieved a 2.34% year-to-date expansion.
- Stockholders’ Equity (Net Book Value): Increased by 2.26% year-to-date.
- Debt-to-Equity Ratio: Maintained a highly unleveraged balance sheet with a 9.74% ratio.
- Convertible Debt: Held at 0% of total liabilities, protecting the capital structure from dilution.
- Insider Liquidation: Recorded 0% insider share liquidation over the trailing 36-month period.
- Vendor Share Leak-Out Provision: 100% active enforcement capping restricted common stock sales at 15% of the trailing 30-day average daily trading volume, mitigating market impact.
Strategic and Operational Efficiencies
NDEV operates a proprietary HMO-style insurance model that integrates traditional healthcare benefits with alternative medicine. By utilizing a dual-platform infrastructure, the company ensures 100% operational separation between its prescription drug plan and its cannabis-adjacent ordering platform. This segregation allows NDEV to operate independently of federal cannabis regulations and legislative gridlock, remaining entirely insulated from the financial burdens of Internal Revenue Code Section 280E.
For policyholders, NDEV’s point-of-sale integration facilitates an estimated 15% to 17% contraction in the effective tax burden. Members also receive a 35% to 40% discount on verified medicinal cannabis purchases, which drives a 25% to 30% reduction in gross product costs at the point of sale.
Scalable Distribution Network
To drive institutional scalability, NDEV has established a robust multi-channel distribution ecosystem, partnering with Tier-1 carriers, Managing General Agents (MGAs), and InsureTech platforms. Key partnerships with platforms like PRAM, Elevate Wellness, and Compass Health provide NDEV with immediate access to a trained sales force of over 15,000 agents. This infrastructure enables the seamless integration of cannabis benefits alongside traditional Dental, Vision, and Medical plans. Additionally, the recent onboarding of Upscale CBD provides NDEV’s commercial portfolio with NSF Certified for Sport formulations, unlocking penetration into regulated, high-performance markets.
Strategic Outlook
The Q3 2026 filings reflect a resilient business model built to capture market share within the rapidly expanding medical and recreational cannabis sector. By moving cannabis out of the traditional retail sphere and onto the structured benefits ledger, NDEV provides carriers with a powerful financial arbitrage mechanism to displace high-risk pharmaceutical regimens.
Read the complete Q3 2026 Financial Highlights, Balance Sheets, and MD&A at getnovusnow.com/investor-relations.
