Executive Summary

Q2 2018 (quarter ended July 31, 2017) reported no revenue and a net loss of $92,962; EPS was effectively $0.00 given rounding and 19.55M weighted shares .
Losses widened versus Q1 2018 (net loss $35,617) and versus the prior-year quarter (Q2 2016 net loss $35,623), driven by higher SG&A and amortization of newly acquired patent assets .
The company issued a press release announcing a third-party IP valuation of $120.7M for six provisional patents, highlighting perceived strategic asset value but not impacting near-term financials .
No earnings press release under Item 2.02 specific to Q2 2018 and no earnings call transcript were found; trend analysis relies on SEC 10-Qs and contemporaneous press releases .

What Went Well and What Went Wrong

What Went Well
- Highlighted perceived value of transdermal prescription IP: “Nutriband Inc…is pleased to announce that it has received an independent 3rd party Intellectual Property valuation of 120.7M USD on its 6 patent pending prescription drugs” .
- Continued articulation of strategy to enter health supplement/transdermal markets and build prescription pipeline (MD&A overview) .
- Maintained access to equity financing in subsequent periods (context for liquidity runway), though outside Q2 2018 analytics .
What Went Wrong
- No revenue generated in Q2 2018; net loss widened to $92,962 from $35,617 in Q1 2018 and $35,623 in Q2 2016, reflecting higher SG&A and amortization after patent acquisitions .
- Ongoing going-concern risk flagged in filings given recurring losses and limited cash resources .
- Lack of public earnings communications (press-release 2.02 or call) limits transparency and reduces catalysts tied to operational performance .

Metric	Q1 2018 (Apr 30, 2017)	Q2 2018 (Jul 31, 2017)	Q3 2018 (Oct 31, 2017)
Revenue ($USD)	$0	$0	$0
Net Loss ($USD)	$(35,617)	$(92,962)	$(107,732)
EPS (Basic & Diluted, $)	$(0.00)	$(0.00)	$(0.01)
Weighted Avg. Shares (Basic & Diluted)	15,572,100	19,550,361	20,767,100

Operating expenses and notable items:

Metric	Q1 2018 (Apr 30, 2017)	Q2 2018 (Jul 31, 2017)	Q3 2018 (Oct 31, 2017)
SG&A ($USD)	$35,617	$92,962	$107,732
Intangible amortization commentary	n/a (SG&A noted lower professional fees)	SG&A increase tied to amortization of recently acquired patents	SG&A increase tied to professional fees and amortization

Segment breakdown and KPIs: Not applicable; company had no reported segments or commercial KPIs in Q2 2018 disclosures .

Metric	Period	Previous Guidance	Current Guidance	Change
Capital requirements	Next 12 months (FY 2017/2018 context)	$85,000–$150,000 (Q1 2018)	$85,000–$150,000 (Q2 2018)	Maintained

No guidance ranges were provided for revenue, margins, OpEx, OI&E, tax rate, dividends, or segment-specific metrics in Q2 2018 filings .

Note: No Q2 2018 earnings call transcript found. Themes derived from 10-Q MD&A and press releases for Q1–Q3 2018.

Topic	Previous Mentions (Q1 2018)	Current Period (Q2 2018)	Trend
Liquidity & Going Concern	Working capital deficiency; plan to raise capital; going-concern uncertainty	Ongoing going-concern language; capital needs $85k–$150k	Persistent risk
Product pipeline & IP	Share exchange to acquire Advanced Health Brands; six provisional patents	Highlighted IP valuation ($120.7M) for six provisional patents	Strategic emphasis on IP value
Revenue generation	No revenue	No revenue	No change
Operating expenses	Lower professional fees in Q1; SG&A $35,617	SG&A increased to $92,962; amortization contribution	Rising OpEx
Regulatory/legal (FDA)	Strategy narrative to enter health/transdermal markets	Focus on transdermal/prescription narrative; no US commercialization in period	Early-stage development; compliance needs

Strategic focus: “We plan to enter the health supplement market with new applications of transdermal patches for delivery of supplements and OTC products.” (MD&A Overview) .
Asset value emphasis: “Nutriband Inc…has received an independent 3rd party Intellectual Property valuation of 120.7M USD on its 6 patent pending prescription drugs.” (Press release) .

No earnings call Q&A was available for Q2 2018; disclosures are limited to the 10-Q and press releases .

Wall Street consensus EPS and revenue estimates were unavailable for NTRB for Q2 2018; S&P Global data did not provide usable consensus coverage for this OTC microcap. Where estimates are not available, comparisons to consensus cannot be made.

Development-stage profile with zero revenue and widening quarterly losses underscores dependence on external financing and execution on IP commercialization .
The $120.7M IP valuation signals perceived strategic value in the transdermal prescription portfolio but is non-cash and contingent on successful patent issuance and commercialization pathways .
Rising SG&A and amortization after patent acquisitions drove operating losses; monitor cost discipline and progress on converting IP into monetizable programs .
Guidance on capital needs remained modest ($85k–$150k) in Q2 2018 filings, which may not fully reflect subsequent higher capital requirements seen in later periods; track updates to funding plans and runway .
Near-term trading may be driven more by corporate announcements (IP, acquisitions) than fundamentals, given the absence of revenue and limited public communications during the period .
Medium-term thesis hinges on regulatory progress, partnerships, and proof-of-concept for the transdermal pipeline; investors should watch for tangible milestones in R&D and any commercial distribution outside the U.S. .