Cosmos Health Inc. Stock Price, News & Analysis

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.

Cosmos Health (NASDAQ:COSM) has completed the registration process to begin selling its C-Scrub Antimicrobial Wash in Germany, entering a market valued at $752.76 million in 2022. The company plans to target hospitals, wholesalers, and consumers through various channels, including online platforms like Amazon. Germany's antimicrobial market is projected to reach $1.05 billion by 2030, growing at a CAGR of 4.20%. CEO Greg Siokas expressed excitement about entering this key market and aims to capture a significant market share through both B2C and B2B strategies.

Cosmos Health Inc. (NASDAQ:COSM) reported its full year 2023 results, showing a 6% increase in revenue to $53.38 million. Despite this growth, the company faced challenges with gross margins decreasing to 8.1% from 11.8% in 2022. SG&A expenses nearly doubled to $26.18 million, primarily due to increased R&D costs and acquisition-related expenses. However, net interest expense decreased significantly by 95% to $0.20 million. The company ended the year with $3.83 million in cash and total assets of $66.01 million. Stockholders' equity remained strong at $36.04 million, translating to a book value per share of $2.25. CEO Greg Siokas highlighted the company's progress in integrating acquisitions, expanding global brand presence, and accelerating R&D efforts, expressing optimism for future growth and profitability.

Cosmos Health (NASDAQ:COSM) has announced that its subsidiary, Decahedron , has successfully submitted a tender to supply NHS Scotland with C-Scrub Wash Chlorhexidine 4%, an antimicrobial wash. The tender is for 'Antiseptic Solutions and Hand Hygiene Products' and is invitation-only. C-Scrub offers immediate and prolonged antimicrobial action for up to 6 hours, targeting bacteria, viruses, and fungi without promoting resistance.

Cosmos Health plans to participate in additional tenders across the UK, including NHS England. The UK antibacterial products market is expected to grow from $656.5 million in 2020 to $733.0 million by 2028, with a CAGR of 1.4%. This move aligns with Cosmos Health's strategy to expand its presence in the UK healthcare market.

Cosmos Health (NASDAQ:COSM) has signed a distribution agreement with ProMed Trading Company for its Sky Premium Life food supplement products in Qatar. ProMed, a leading healthcare company in Doha, will handle key functions including regulatory compliance, product registration, distribution, promotion, marketing, logistics, and sales in pharmacies and shops across Qatar.

The Middle East and Southeast Asia dietary supplements market is projected to grow from $17.04 billion in 2023 to $30.72 billion by 2031, with a CAGR of 7.6%. This growth is driven by rising health awareness, availability of various supplement formats, and increasing disposable income.

CEO Greg Siokas expressed enthusiasm about the partnership, highlighting it as a testament to the high quality of their products and the strong global demand for the Sky Premium Life brand.

Cosmos Health (NASDAQ:COSM) has completed Phase I of upgrades to its manufacturing capabilities at its subsidiary, Cana Laboratories. The company has invested $5.5 million in upgrading its 54,000-square-foot Athens facility, positioning it to generate over $10 million in recurring annual gross profit at full capacity by the end of 2025. Cosmos Health has entered into contract manufacturing agreements with Provident Pharmaceuticals and Humacology to produce 5,520,000 units of medicines and CBD products, occupying less than 20% of existing capacity. The company is actively pursuing additional contracts and evaluating opportunities for a Phase II expansion plan to further enhance capacity and profitability potential.

Cosmos Health (NASDAQ:COSM) announced that its subsidiary, Cana Laboratories, has secured additional contract manufacturing agreements with Provident Pharmaceuticals. The new orders include:

• 408,000 units of MIOREL for muscle spasms
• 222,000 units of CALCIFOLIN for nucleic acid synthesis
• 72,000 units of DEXA-DOSE for anti-inflammatory purposes

These orders, combined with a previously announced contract for 4.32 million units of DE3-SOLE, bring the total order book with Provident to 5.02 million units. CEO Greg Siokas expressed enthusiasm for scaling up Cana's contract manufacturing division, anticipating stable, high-margin cash flows for Cosmos Health.

Cosmos Health Inc. (NASDAQ:COSM) has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share. The company received a notification letter from Nasdaq on July 19, 2024, confirming that it had achieved a closing bid price of $1.00 or greater for ten consecutive business days from July 5 to July 18, 2024. This compliance was achieved organically without a reverse stock split. Cosmos Health is a diversified, vertically integrated global healthcare group involved in R&D, pharmaceutical and nutraceutical brands, healthcare product distribution, and telehealth services.