Latest news with #CosmosHealth
Yahoo
15-05-2025
- Business
- Yahoo
RETRANSMISSION – Cosmos Health Reports Q1 2025 Results: Adjusted Profitability Achieved as Gross Profit Rises 54% to $2.05M; Operating Cash Burn Down 95%, or $3.2M, to $0.19M; Approaching Cash Flow Breakeven
CHICAGO, May 15, 2025 (GLOBE NEWSWIRE) -- Cosmos Health Inc. ("Cosmos Health" or the 'Company') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, today reported financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial Highlights Income Statement Cosmos Health delivered solid results in Q1 2025, highlighted by a significant increase in gross profit and positive performance on both an Adjusted EBITDA and Adjusted Net Income basis, reflecting a meaningful turnaround in bottom-line performance. Revenue for Q1 2025 was $13.71 million, a decrease of 5.98% from $14.58 million in Q1 2024, primarily reflecting the Company's strategic shift toward higher-margin focus areas and a disciplined reduction of promotional-dependent activities. Gross profit increased by 53.70% to $2.05 million, up from $1.33 million in the prior-year period, driven by an improved product mix and operational leverage. Segment contributions were as follows: Wholesale logistics distribution: $1.18 million Owned nutraceuticals/pharmaceuticals and manufacturing: $0.87 million Gross margin expanded by 581 basis points to 14.95%, compared to 9.14% in Q1 2024, reflecting a greater focus on higher-margin segments, including contract manufacturing and proprietary brands, as well as operational synergies realized at Cana Laboratories. Total operating expenses declined by 9.05% to $2.88 million, compared to $3.17 million in Q1 2024, reflecting: 17.34% reduction in salaries and wages, driven by efficiency initiatives 83.78% decline in sales and marketing expenses, due to a strategic reduction in promotional spend 14.46% decrease in general and administrative expenses, adjusted for non-cash items Net loss narrowed by 56.17% to $0.82 million, down from $1.87 million in the prior-year period. The loss was primarily attributable to costs related to the Company's Nasdaq U.S. listing. Return to Profitability On an adjusted basis, Cosmos Health delivered profitable results in both EBITDA and Net Income, driven by improved gross profitability and disciplined cost management. Adjusted EBITDA increased by 157.8% to $0.37 million, compared to a loss of $0.64 million in Q1 2024. Adjusted Net Income improved by 139.4% to $0.28 million, versus a loss of $0.71 million in the prior-year period. Key contributors to this performance were the Company's wholesale logistics segment (CosmoFarm) and its owned nutraceutical and pharmaceutical products portfolio, including Sky Premium Life®, which delivered strong results. Balance Sheet Stockholders' equity increased by $1.42 million, while the liabilities-to-assets ratio remained a modest 54.6%, reflecting continued financial discipline. Total assets increased by 5.3% to $57.2 million, up from $54.3 million as of December 31, 2024, reflecting a diversified asset base with enhanced liquidity, a strong inventory position, and a solid real estate and intellectual property portfolio. Total liabilities increased by 4.9% to $31.24 million as of March 31, 2025, up from $29.78 million at year-end 2024, primarily due to moderate increases in lines of credit and notes payable, while accounts payable and other current liabilities remained relatively stable. Total stockholders' and mezzanine equity increased by 5.8% to $25.95 million as of March 31, 2025, up from $24.53 million as of December 31, 2024. Cash Flow Statement Operating cash burn improved by 94.5% year-over-year, decreasing by $3.22 million to negative $0.19 million in Q1 2025 from negative $3.41 million in Q1 2024, primarily driven by improved working capital management, stronger accounts receivable collections, and lower prepaid expense outflows. Management Commentary Greg Siokas, CEO of Cosmos Health, stated: 'We are pleased with our strong first-quarter performance and the steady progress across multiple strategic areas. Gross profit and gross margins increased significantly, supported by an improved product mix and stronger operating leverage. Our continued focus on efficiency and disciplined cost management is yielding tangible results, as reflected in our return to profitability on both an Adjusted EBITDA and Adjusted Net Income basis. Importantly, we are approaching a key milestone, having substantially reduced our operating cash burn and moving closer to operational cash flow breakeven. Moreover, we ended the quarter with higher stockholders' equity and improved liquidity, including an increased cash balance. Our balance sheet remains prudent, underpinned by modest leverage and a diversified asset base. Operationally, we continue to advance strategic initiatives across the group. Our R&D pipeline is evolving, with multiple projects underway, including our CCX0722 weight management solution which has entered its final development phase and is progressing toward launch. We are also scaling our high-margin contract manufacturing segment through new long-term agreements, while expanding the global footprint of Sky Premium Life, our flagship nutraceutical brand. In parallel, we are growing our C-Scrub antiseptics line, including continued progress in the lucrative UK market. Finally, I want to reaffirm my personal commitment to Cosmos. Since December 20, 2024, I have increased my personal shareholding by over 2.7 million shares, representing an investment of more than $1.3 million, which reflects my strong confidence in the Company's strategy and long-term growth potential.' UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) Three Months Ended March 31, 2025 2024 (in $) GAAP - Figures REVENUE 13,712,528 14,584,473 GROSS PROFIT 2,049,799 1,333,626 TOTAL OPERATING EXPENSES (2,882,944) (3,169,734) GAIN (LOSS) FROM OPERATIONS (833,145) (1,836,108) TOTAL OTHER INCOME (EXPENSE), NET 15,048 (30,582) NET GAIN (LOSS) (818,097) (1,866,690) NON-GAAP Figures* ADJUSTED EBITDA 373,119 (644,048) ADJUSTED NET INCOME (LOSS) 277,338 (706,955) (*) See "Definitions of Non-GAAP Measures" and "Reconciliation of Non-GAAP Measures" sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release. Definitions of Non-GAAP Measures We collect and analyze operating and financial data to evaluate the health of our business and assess our performance. In addition to Revenue, Income (Loss) from Operations and Net Income (Loss) under GAAP, we use: EBITDA, Adjusted EBITDA, and Adjusted Net Income (Loss). We have included these non-GAAP financial measures because they are key measures used by our management to evaluate our operating performance. Accordingly, we believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and Board of Directors. Our calculation of these non-GAAP financial measures may differ from similarly titled non-GAAP measures, if any, reported by our peer companies. These non-GAAP financial measures should not be considered in isolation from, or as substitutes for, financial information prepared in accordance with GAAP. Adjusted EBITDA We define Adjusted EBITDA as Income (Loss) before Income Taxes, excluding (i) depreciation and amortization expense, (ii) interest income (expense), (iii) non-cash interest expense, (iv) stock-based compensation expense, (v) non-recurring and extraordinary items (vi) other income (expense), net, (vii) gain (loss) on equity investments, net, (viii) gain on extinguishment of debt, (ix) change in fair value of derivative liability (x) foreign currency transaction, net, and (xi) prior years bad debt allowances. We have included Adjusted EBITDA because it is a key measure used by our management team to evaluate our operating performance, generate future operating plans, and make strategic decisions. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and Board of Directors. In addition, it provides a useful measure for period-to-period comparisons of our business, as it removes the effect of certain non-cash expenses and non-recurring and extraordinary items. Adjusted EBITDA has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for the related financial information prepared in accordance with GAAP. Adjusted Net Income (Loss) We define Adjusted Net Income (Loss) as Adjusted EBITDA (see above) adding provision for income taxes and deducting interest expense. Adjusted Net Income has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for the related financial information prepared in accordance with GAAP. Reconciliation of Non-GAAP Measures Adjusted EBITDA & Adjusted Net Income (Loss) The following table presents reconciliations of Adjusted EBITDA & Adjusted Net Income (Loss) to the most directly comparable GAAP financial measure for each of the periods indicated. Three Months Ended March 31, 2025 2024 (in $) INCOME (LOSS) BEFORE INCOME TAXES (818,097) (1,866,690) Adjustments (add back): Depreciation and amortization expense 320,439 319,787 Interest (income) / expense, net 95,781 62,907 EBITDA (401,877) (1,483,996) Non-recurring and extraordinary items 135,621 532,078 Stock based compensation 556,611 340,194 Other income (expense), net 261,730 (191,824) Gain (loss) on equity investments, net (3,142) (1,755) Gain on extinguishment of debt (175,824) 161,254 ADJUSTED EBITDA 373,119 (644,048) Interest income / (expense), net (95,781) (62,907) ADJUSTED NET INCOME 277,338 (706,955) CONDENSED CONSOLIDATED BALANCE SHEET DATA March 31, 2025 Unaudited December 31, 2024 Audited September 30, 2024 Unaudited (in $) ASSETS Cash & cash equivalents 742,881 315,105 3,314,845 Inventory 4,736,222 4,355,365 4,885,015 Accounts receivable, prepaid expenses and other current assets 20,930,780 19,618,932 27,101,314 Property and equipment, net 10,016,068 9,689,505 10,575,928 Goodwill and intangible assets, net 7,802,529 7,756,534 7,746,761 Loans receivable 7,238,494 6,946,749 7,398,180 Other noncurrent assets 5,724,970 5,629,702 3,497,939 TOTAL ASSETS 57,191,944 54,311,892 64,519,982 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable and accrued expenses 12,542,708 12,648,882 12,818,143 Other current liabilities 3,963,167 3,564,569 4,769,933 Lines of credit 7,305,377 6,985,052 5,989,425 Notes payable 4,863,275 4,119,471 4,279,340 Other non-current and finance/lease liabilities 2,565,705 2,460,990 1,686,542 Stockholders' and mezzanine equity 25,951,712 24,532,929 34,976,599 TOTAL LIABILITIES AND STOCKHOLDERS'/MEZZANINE EQUITY 57,191,944 54,311,893 64,519,982 CONDENSED CONSOLIDATED CASH FLOW DATA Three Months Ended March 31, (in $) 2025Unaudited 2024Audited NET CASH USED IN OPERATING ACTIVITIES (186,316) (3,412,103) NET CASH USED IN INVESTING ACTIVITIES (7,069) 126,454 NET CASH PROVIDED BY FINANCING ACTIVITIES 560,862 206,942 CASH AT BEGINNING OF YEAR 315,105 3,833,195 CASH AT END OF YEAR 742,881 865,099 About Cosmos Health Inc. Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept® and C-Scrub®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at as well as LinkedIn and X. Forward-Looking Statements With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website ( The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investor Relations Contact: BDG Communications cosm@ +44 207 0971 653Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-05-2025
- Business
- Yahoo
Cosmos Health Secures Follow-Up Order from Pharmalink for 80,000 Sky Premium Life Units in the UAE; Initial 130,000-unit Order Sold Out, Advancing 5-Year Goal of Over 3 Million Units
Cosmos Health Inc. CHICAGO, May 07, 2025 (GLOBE NEWSWIRE) -- Cosmos Health Inc. ("Cosmos Health" or the 'Company'') (NASDAQ:COSM) , a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that it has received an additional purchase order for 80,000 units from Pharmalink for its Sky Premium Life products in the United Arab Emirates (UAE). This latest order, pursuant to the exclusive distribution agreement with Pharmalink, follows the successful sell-out of the initial 130,000-unit purchase and supports the Company's objective of surpassing 3 million units in cumulative orders over the first five years. Pharmalink is responsible for all sales, marketing, regulatory affairs, logistics, and distribution activities related to Sky Premium Life products in the UAE. Greg Siokas, CEO of Cosmos Health, stated: 'We are thrilled to see our Sky Premium Life nutraceuticals gaining strong momentum in the UAE. This continued traction underscores the strength of our brand and the effectiveness of our partnership with Pharmalink, one of the largest healthcare organizations in the country, which positions us well to capture meaningful market share in this high-growth region.'
Yahoo
30-04-2025
- Business
- Yahoo
Cosmos Health CEO Greg Siokas Acquires 1,466,764 Shares Valued at $526,000 Over the Past Week; 2,777,469 Shares Acquired Over the Past Five Months for $1,325,000
CHICAGO, April 30, 2025 (GLOBE NEWSWIRE) -- Cosmos Health Inc. ("Cosmos Health" or the 'Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that its CEO, Greg Siokas, has increased his stake in the Company by acquiring a total of 1,466,764 common shares, valued at $526,000, across five transactions between April 21, 2025, and April 24, 2025. As a result of these transactions, Mr. Siokas now beneficially owns 5,582,066 common shares in Cosmos Health. Greg Siokas, CEO of Cosmos Health, stated: 'Over the past five months alone, I have invested more than $1.3 million, increasing my ownership by over 2.7 million shares and bringing my total investment since inception to more than $18 million. I am proud of what we have accomplished in building a diversified, vertically integrated global health care company, and I am more excited than ever about the opportunities ahead. I remain deeply committed to supporting Cosmos and confident in our efforts to create value for our shareholders.' Information on Mr. Siokas's Recent Transactions:Please refer to the filings on Form 4 filed with the SEC and available on the SEC's website for more information about the nature of the transactions, including details such as 'Ownership Form', 'Transaction Date', 'Amount', 'Price', and other relevant information regarding the shares acquired by Mr. Siokas. About Cosmos Health Inc. Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept® and C-Scrub®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at as well as LinkedIn and X. Forward-Looking StatementsWith the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website ( The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investor Relations Contact:BDG Communicationscosm@ 207 0971 653Sign in to access your portfolio
Yahoo
16-04-2025
- Business
- Yahoo
Cosmos Health Reports Full-Year 2024 Results: Revenue Increases 2% to $54.43 Million While Operating Expenses Decline 24.2% to $19.86 Million
CHICAGO, April 16, 2025 (GLOBE NEWSWIRE) -- Cosmos Health Inc. ("Cosmos Health" or the 'Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, today reported financial results for the full year ended December 31, 2024. Full Year 2024 Financial Highlights Income Statement: FY 2024 performance was marked by revenue growth, an increase in R&D investments, and a substantial reduction in operating expenses, while bottom-line results were impacted by the absence of non-recurring gains recognized in the prior year. Revenue increased by 2.0% to $54.43 million in FY 2024, from $53.38 million in the prior year, driven primarily by sustained organic growth and continued contributions from prior acquisitions. Gross margin was 7.92%, compared to 8.15% in FY 2023, reflecting a greater mix of revenue from the lower-margin logistics distribution segment. Total operating expenses declined by 24.16% to $19.86 million, compared to $26.18 million in FY 2023. This includes: 40.26% reduction in general and administrative expenses. 71% decrease in sales and marketing expenses, following a strategic reduction in promotional spend. Total other income, net, was a loss of $0.64 million in FY 2024, compared to income of $3.29 million in FY 2023. The year-over-year decline was primarily due to the absence of non-cash gains recognized in the prior year, including: $1.91 million gain on debt extinguishment. $1.44 million bargain purchase gain related to the acquisition of Cana Laboratories. Adjusted EBITDA was negative $3.73 million, compared to positive $0.06 million in FY 2023, while Adjusted net loss widened to $4.74 million from $0.81 million. Balance Sheet: The liabilities-to-assets ratio remains a modest 55% as of year-end 2024, reflecting a balanced capital structure and continued financial discipline. Total assets decreased by 17.72% to $54.31 million as of December 31, 2024, from $66.01 million at the end of 2023, while the Company continued to maintain a well-diversified asset base, supported by the following key components: Tangible asset base, with property and equipment, net, totaling $9.69 million, largely reflecting the Company's wholly owned real estate assets, including CosmoFarm's logistics center and Cana Laboratories' manufacturing facilities. Goodwill and intangible assets, net, totaling $7.76 million, representing investments in intellectual property, including acquired licenses for established pharmaceutical and nutraceutical products. Inventory position of $4.36 million, reflecting enhanced procurement discipline and improved inventory management, with higher sales achieved despite a leaner inventory base. Total liabilities decreased by 0.64% to $29.78 million as of December 31, 2024, compared to $29.97 million at year-end 2023. Key highlights include: Operating lease liabilities declined by 41%, or $346,000, following the early termination of a long-term lease at the Thessaloniki corporate offices. This move supports the Company's cost-efficiency strategy to consolidate all corporate functions in Athens. Accounts payable decreased by $754,000, or 6%, reflecting tighter cash flow management and more proactive settlement of supplier obligations. Total stockholders' and mezzanine equity stood at $24.53 million, versus $36.04 million as of December 31, 2023. Recent Highlights R&D and Product Innovation Advanced the pipeline with AI-driven patent filings targeting multiple sclerosis, allergic inflammation, gliomas and hematologic malignancies. Entered the final development phase for CCX0722, a proprietary weight management solution, with product launch expected in 2026. Secured two WIPO-patented anticancer drugs for prostate, ovarian, and colorectal cancers, valued at over $24.5 million, enhancing the oncology portfolio. Strengthened leadership with the appointment of Professor Dimitrios Trafalis, MD, as Head of Oncology. Manufacturing Expanded Cana Laboratories' facilities and production capabilities. Signed long-term manufacturing contracts with Pharmex and Provident Pharmaceuticals, covering over 9.5 million units across multiple product lines, enhancing revenue visibility and supporting margin expansion. Global Commercial Expansion Expanded the Sky Premium Life nutraceutical brand with 60 new SKUs. Launched the Sky Premium Life brand in Albania, supported by a $300,000 initial order, and secured a $578,460 order in Qatar. Expanded distribution of avian influenza PCR kits across Europe and the GCC through an exclusive agreement with Virax Biolabs. Strategic & Financial Milestones Strengthened the executive team with the appointment of Dimitris Moraitis as Vice President of Strategy & Operations. Secured a €2.2 million (approximately $2.29 million) secured bond loan from a European bank on competitive terms, with an option to upsize. The bond carries an interest rate of 2.95% plus the applicable 6-month Euribor. CEO Greg Siokas acquired over 1 million common shares through multiple transactions between December 20, 2024, and March 4, 2025. Integrated Bitcoin and Ethereum as treasury reserve assets. Management Commentary Greg Siokas, CEO of Cosmos Health, stated: "We have achieved a number of important milestones over the past year, but I believe we are still in the very early stages of what represents a key inflection point for Cosmos. On the R&D front, we are leveraging AI-driven drug repurposing technologies to advance our research agenda, and our scientists are making meaningful progress toward the commercialization of our proprietary weight loss drug. In manufacturing, we continue to invest in our Cana Laboratories facility and are securing long-term contract manufacturing agreements, a strategic and high-margin segment for us. We are also investing in the development of our portfolio of proprietary brands, most notably through the rapid global expansion of Sky Premium Life, our high-margin nutraceutical line, which continues to grow with the addition of new SKUs and increasing market penetration across regions including Europe and the Middle East. As we've previously noted, our hard assets offer valuable strategic flexibility. We recently capitalized on this by securing a €2.2 million loan against our CosmoFarm logistics center on highly attractive terms. Importantly, this is a structure we can replicate, particularly with our significantly more valuable real estate at Cana Laboratories. Lastly, I continue to demonstrate my commitment to Cosmos. Since December 20, 2024, I have increased my personal ownership by over 1 million shares, a clear reflection of my confidence in the Company's long-term strategy and future potential.' CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) Years Ended December 31, 2024 2023 (in $) GAAP - Figures REVENUE 54,426,402 53,376,874 GROSS PROFIT 4,311,323 4,349,569 TOTAL OPERATING EXPENSES (19,856,153) (26,180,786) GAIN (LOSS) FROM OPERATIONS (15,544,830) (21,831,217) TOTAL OTHER INCOME (EXPENSE), NET (638,188) 3,288,563 NET GAIN (LOSS) (16,183,018) (18,542,654) NON-GAAP Figures* ADJUSTED EBITDA (3,730,955) 59,627 ADJUSTED NET INCOME (LOSS) (4,743,269) (806,849) (*) See "Definitions of Non-GAAP Measures" and "Reconciliation of Non-GAAP Measures" sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release. Definitions of Non-GAAP Measures We collect and analyze operating and financial data to evaluate the health of our business and assess our performance. In addition to Revenue, Income (Loss) from Operations and Net Income (Loss) under GAAP, we use: EBITDA, Adjusted EBITDA, and Adjusted Net Income (Loss). We have included these non-GAAP financial measures because they are key measures used by our management to evaluate our operating performance. Accordingly, we believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and Board of Directors. Our calculation of these non-GAAP financial measures may differ from similarly titled non-GAAP measures, if any, reported by our peer companies. These non-GAAP financial measures should not be considered in isolation from, or as substitutes for, financial information prepared in accordance with GAAP. Adjusted EBITDA We define Adjusted EBITDA as Income (Loss) before Income Taxes, excluding (i) depreciation and amortization expense, (ii) interest income (expense), (iii) non-cash interest expense, (iv) stock-based compensation expense, (v) non-recurring and extraordinary items (vi) other income (expense), net, (vii) gain (loss) on equity investments, net, (viii) gain on extinguishment of debt, (ix) change in fair value of derivative liability (x) foreign currency transaction, net, and (xi) prior years bad debt allowances. We have included Adjusted EBITDA because it is a key measure used by our management team to evaluate our operating performance, generate future operating plans, and make strategic decisions. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and Board of Directors. In addition, it provides a useful measure for period-to-period comparisons of our business, as it removes the effect of certain non-cash expenses and non-recurring and extraordinary items. Adjusted EBITDA has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for the related financial information prepared in accordance with GAAP. Adjusted Net Income (Loss) We define Adjusted Net Income (Loss) as Adjusted EBITDA (see above) adding provision for income taxes and deducting interest expense. Adjusted Net Income has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for the related financial information prepared in accordance with GAAP. Reconciliation of Non-GAAP Measures Adjusted EBITDA & Adjusted Net Income (Loss) The following table presents reconciliations of Adjusted EBITDA & Adjusted Net Income (Loss) to the most directly comparable GAAP financial measure for each of the periods indicated. Years Ended December 31, 2024 2023 (in $) INCOME (LOSS) BEFORE INCOME TAXES (16,183,018) (18,542,654) Adjustments (add back): Depreciation and amortization expense 1,249,238 614,377 Interest income / (expense), net 1,012,314 866,476 EBITDA (13,921,466) (17,061,801) Non-recurring and extraordinary items 3,926,891 4,128,741 Stock based compensation 1,689,712 498,279 Other income (expense), net (86,737) 65,867 Gain (loss) on equity investments, net (2,470) (4,584) Gain on extinguishment of debt - - Change in fair value of derivative liability - (3,384) Foreign currency transaction, net 121,530 (198,863) Bad Debt Allowances 4,541,584 11,850,788 Other provisions - 784,584 ADJUSTED EBITDA (3,730,955) 59,627 Interest income / (expense), net (1,012,314) (866,476) Provision for income taxes - - ADJUSTED NET INCOME (4,743,269) (806,849)CONDENSED CONSOLIDATED BALANCE SHEET DATA December 31, 2024 September 30, 2024 December 31, 2023 (in $) ASSETS Cash & cash equivalents 315,105 3,314,845 3,833,195 Inventory 4,355,365 4,885,015 4,789,054 Accounts receivable, prepaid expenses and other current assets 19,618,932 27,101,314 27,131,193 Property and equipment, net 9,689,505 10,575,928 10,455,499 Goodwill and intangible assets, net 7,756,534 7,746,761 7,684,183 Loans receivable 6,946,749 7,398,180 7,903,378 Other noncurrent assets 5,629,702 3,497,939 4,218,309 TOTAL ASSETS 54,311,892 64,519,982 66,014,811 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable and accrued expenses 12,648,882 12,818,143 12,309,890 Other current liabilities 3,564,569 4,769,933 3,487,353 Lines of credit 6,985,052 5,989,425 6,630,273 Notes payable 4,119,471 4,279,340 4,617,510 Other non-current and finance/lease liabilities 2,460,990 1,686,542 2,926,757 Stockholders' and mezzanine equity 24,532,929 34,976,599 36,043,028 TOTAL LIABILITIES AND STOCKHOLDERS'/MEZZANINE EQUITY 54,311,892 64,519,982 66,014,811About Cosmos Health Inc. Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept® and C-Scrub®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at as well as LinkedIn and X. Forward-Looking StatementsWith the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website ( The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investor Relations Contact:BDG Communicationscosm@ 207 0971 653Sign in to access your portfolio
Yahoo
09-04-2025
- Business
- Yahoo
Cosmos Health Further Expands Facility Upgrades Program at Cana Laboratories and Signs 5-Year Contract Manufacturing Agreement with Pharmex for 1.5 Million Bottles of the Antiseptic Drug AMBITASOL 1L
CHICAGO, April 09, 2025 (GLOBE NEWSWIRE) -- Cosmos Health Inc. ("Cosmos Health" or the 'Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that its wholly owned subsidiary, Cana Laboratories ('Cana'), has completed the latest upgrades to its manufacturing capabilities and capacity, and has secured a long-term, five-year contract manufacturing agreement with Pharmex S.A. ('Pharmex') for the annual production of 300,000 bottles of the antiseptic drug AMBITASOL 1L, totaling 1,500,000 units over the duration of the agreement. Pharmex, established in 1981, is a privately held specialty pharmaceutical company focused on the commercialization and marketing of medicinal products, antiseptics, dermocosmetics, and medical devices in targeted therapeutic areas such as dermatology, ophthalmology, and pediatrics. Cosmos Health completed its acquisition of Cana in July 2023 and has since invested in upgrading Cana's Athens facility, which is licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), laying the foundation for future growth. As a result, Cana is now ramping up revenue generation from manufacturing its own products as well as those of third parties. Cana's facilities can accommodate a wide range of pharmaceuticals, including tablets, capsules, syrups, nasal sprays, creams, gels, antiseptics, and biocides. In line with this strategy, the Company has entered into the aforementioned contract manufacturing agreement with Pharmex to support its growth aspirations. Greg Siokas, CEO of Cosmos Health, stated: "We are pleased to continue scaling our high-margin contract manufacturing business at Cana through our collaboration with Pharmex. We look forward to securing additional agreements that will further expand our client base, strengthen cash flows, and drive sustained profitability.' About Cosmos Health Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept® and C-Scrub®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at as well as LinkedIn and X. Forward-Looking StatementsWith the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website ( The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investor Relations Contact:BDG Communicationscosm@ 207 0971 653Sign in to access your portfolio
