Cosmos Health Inc. Stock Price, News & Analysis

Cosmos Health (NASDAQ:COSM) has released its updated guidance for 2024-2027, projecting significant growth across key financial metrics. The company anticipates revenue to increase by 163% from $59.35 million in 2024 to $155.80 million in 2027, with gross profit expected to rise by 653% from $6.25 million to $47.06 million over the same period. Net income is projected to grow by 402%, reaching $20.44 million in 2027 from a loss of $6.76 million in 2024.

The company's strategy focuses on expanding high-margin segments, including the global growth of proprietary brands like Sky Premium Life, C-sept, and C-scrub. Cosmos Health also plans to optimize its Contract Manufacturing Organization operations and progress with its CCX obesity pill. The guidance reflects a shift towards profitability, with positive operating cash flow expected from 2025 onwards.

Taglich Brothers has published an updated coverage report on Cosmos Health (NASDAQ:COSM), maintaining a Speculative Buy rating with a $4 price target, nearly 300% above the current share price. The report highlights significant growth expectations as Cosmos transitions into a vertically integrated global health organization. Key drivers include increased contract manufacturing at Cana Laboratories and expanded distribution agreements for nutraceutical and disinfectant brands in Europe and the Middle East.

Taglich forecasts FY 2024 revenue at $56.3 million, with a 22.6% increase to $69.0 million in FY 2025, alongside a projected operating profit of $20,000 and cash earnings of $1.6 million. The report suggests that Cosmos Health's valuation should improve with revenue growth and transition to profitability, as its current price-to-sales multiple (0.3X) lags behind the 2.4X sector average.

Virax Biolabs Group (NASDAQ: VRAX) has extended its exclusive distribution agreement with Cosmos Health Inc. (Nasdaq: COSM) to market Mpox Virus Real-Time PCR Detection Kits in Gulf Cooperation Council (GCC) countries. This expansion follows their existing agreement for Greece, Cyprus, and non-exclusive distribution in Europe. The CE-marked and MHRA-authorized kits boast a 96.7% sensitivity and 93.72% specificity, delivering results in under 70 minutes.

The agreement allows Cosmos to import, sell, and distribute Virax-branded Mpox virus Nucleic Acid Detection Kits in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Both companies express excitement about the partnership, with Virax CEO James Foster highlighting the expanded geographic reach and Cosmos CEO Greg Siokas noting the continued strong demand for Mpox virus detection kits.

Cosmos Health (NASDAQ:COSM) has expanded its exclusive distribution agreement with Virax Biolabs (NASDAQ:VRAX) to commercialize mpox virus real-time PCR detection kits in Gulf Cooperation Council (GCC) countries. This extension builds upon their previous agreement for Greece, Cyprus, and non-exclusive distribution across Europe. The kits, CE-marked and MHRA-authorized, offer 96.7% sensitivity and 93.72% specificity, delivering results in under 70 minutes.

The agreement comes in response to the WHO's declaration of mpox as a public health emergency in August 2024, with cases spreading beyond Africa to Europe and Asia. Cosmos Health aims to support governments and public health authorities in Europe and the Gulf by enhancing preparedness and ensuring rapid detection of mpox cases.

Cosmos Health (NASDAQ:COSM) has regained full compliance with Nasdaq listing requirements. The company addressed two key issues:

1. Filing Compliance: Cosmos filed its 2023 Annual Report (Form 10-K) and Q1 2024 financial results (Form 10-Q), resolving concerns raised in Nasdaq's notification letters from April and May 2024.

2. Minimum Bid Price Rule: The company met this requirement earlier in July 2024.

CEO Greg Siokas expressed satisfaction with the company's return to full compliance across all Nasdaq listing requirements. This development marks a positive turn for Cosmos Health, a diversified healthcare group involved in R&D, pharmaceutical and nutraceutical brands, healthcare product distribution, and telehealth services.

Cosmos Health (NASDAQ:COSM) announced that its subsidiary, Cana Laboratories, has completed facility upgrades and secured a contract manufacturing agreement with Provident Pharmaceuticals. The agreement involves manufacturing 4.32 million vials of DE3-SOLE OR.SOL.SDC 25000 IU/2.5ML. Cana's Athens facility is licensed under European GMP and certified by the EMA, capable of producing various pharmaceutical forms.

CEO Greg Siokas highlighted Cana's potential, noting its past collaborations with multinational companies and peak annual revenue of over $60 million. Cosmos acquired Cana in July 2023 as part of a restructuring process, aiming to revitalize its strengths without inheriting past liabilities. The company is focusing on scaling up Cana's high-margin contract manufacturing business.

Cosmos Health (NASDAQ:COSM) has announced its continued distribution rights for mpox virus real-time PCR detection kits from Virax Biolabs. The company holds exclusive distribution rights in Greece and Cyprus, and non-exclusive rights across Europe. This announcement comes in light of recent developments, including the WHO's declaration of mpox as a public health emergency in the Democratic Republic of the Congo and other African countries, as well as Sweden confirming the first case of a new mpox strain outside Africa. Cosmos Health's CEO, Greg Siokas, emphasized the company's readiness to support EU/EEA governments and public health authorities in enhancing preparedness and response to the mpox threat.

Cosmos Health Inc. (NASDAQ:COSM) reported Q2 2024 financial results, showing revenue growth of 6.8% to $13.21 million compared to Q2 2023. For H1 2024, revenue increased by 12.5% to $27.79 million. However, gross profit decreased by 19% in Q2 2024, while H1 2024 gross profit grew by 10.3%. The company reduced operating expenses by 7.2% in Q2 and 9.7% in H1 2024. Net loss widened to $2.59 million in Q2 2024 from $0.98 million in Q2 2023. Adjusted EBITDA declined to a loss of $1.21 million in Q2 2024. Total assets decreased slightly to $60.86 million, while total liabilities increased by 3.3% to $28.71 million. CEO Greg Siokas emphasized continued top-line growth and efforts to enhance operations for sustained profitability.

Cosmos Health Inc. (NASDAQ:COSM) reported strong Q1 2024 results, with an 18.1% revenue increase to $14.58 million and a 39.3% gross profit rise to $1.33 million compared to Q1 2023. The company's gross margin improved by 140 basis points to 9.1%. Operating expenses decreased by 12.2%, leading to a 30.7% reduction in operating loss. However, net loss increased to $1.87 million due to the absence of a one-time gain on debt extinguishment from the previous year. Cosmos Health continued its deleveraging efforts, reducing total liabilities by 7.3% while maintaining stockholders' equity near record levels at $34.55 million.