CHICAGO, June 24, 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 its entry into the U.S. market and the launch of U.S.-based manufacturing through a strategic agreement with DolCas Biotech LLC (“DolCas”), a ...

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 ...

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 ...

Financial Performance - For the three months ended March 31, 2025, the company reported revenue of $13,712,528, a decrease from $14,584,473 in the same period of 2024, representing a decline of approximately 6%[254]. - The net loss for the three months ended March 31, 2025, was $818,097, an improvement from a net loss of $1,866,690 in the corresponding period in 2024, indicating a reduction of approximately 44%[254]. - Revenue for the three-month period ended March 31, 2025, decreased by approximately 5.98% compared to the same period in 2024, primarily due to unfavorable foreign exchange movements and a marginal decrease in sales from Cosmofarm SA[256]. - Gross profit for the three months ended March 31, 2025, was $2,049,799, representing an increase of 53.7% compared to the same period in 2024, driven by a favorable revenue composition[260]. - Total operating expenses decreased by $286,790, or approximately 9.05%, to $2,882,944 for the three-month period ended March 31, 2025, reflecting disciplined cost management[261]. - The Company reported a net loss of $818,097 for the period ended March 31, 2025, with positive working capital of $1,259,012 compared to a negative working capital of $296,193 as of December 31, 2024[273][268]. - Cash generated from financing activities increased to $560,862 for the three-month period ended March 31, 2025, compared to $206,942 during the same period in 2024, driven by lower debt repayments and new financing arrangements[271]. - The foreign currency translation adjustment improved to a gain of $1,031,268 for the three-month period ended March 31, 2025, compared to a loss of $599,276 in the prior year[265]. Strategic Acquisitions and Growth - The acquisition of Bikas is expected to increase annual revenue by more than $10 million and enhance gross margins due to economies of scale[251]. - The company completed the acquisition of Cloudscreen for a total purchase price of $637,080, which includes 280,000 shares of common stock and cash to be settled in 2024[252]. - The company signed a definitive agreement to acquire ZipDoctor Inc. for a total sum of $150,000, enhancing its telemedicine capabilities[248]. - The company has made several strategic acquisitions to enhance its manufacturing, marketing, and R&D capabilities, strengthening its core product technology infrastructure[285]. Product Development and Innovation - The company has created and developed proprietary branded nutraceutical products, with over 160 product codes, aiming for high growth opportunities in the nutraceutical market[232]. - Innovation efforts include accelerating R&D on IP-driven products like CCX0722 for obesity and CCDL24 for gastrointestinal disorders, alongside the acquisition of the AI-driven drug repurposing platform "Cloudscreen®"[293]. - The proprietary biocide C-Sept Pro 2% combines 76% Isopropyl Alcohol and 2% chlorhexidine digluconate, while C-Scrub Wash 4% CHG is approved by the WHO for human use[294]. - The company’s portfolio includes Melatonin Spray® for insomnia, Otikon™ ear drops for ear pain, and Bio-bebe® organic infant care products[295][296][297]. Market Expansion and Distribution - The company anticipates receiving orders of more than 500,000 units in the first year and in excess of 3,000,000 units over the next five years for its Sky Premium Life products in the UAE[246]. - The company has established a distribution network exceeding 1,500 pharmacies in Greece, supported by upgraded robotic systems for efficient operations[231]. - The company aims to expand its sales distribution networks in new regions such as the UAE and Eastern Europe while strengthening market share in core markets[293]. - The Company plans to expand its brand name products and evaluate acquisition targets to enhance distribution, including a significant exclusive distribution agreement in the UAE[277]. Financial Outlook and Concerns - The Company anticipates using cash from debt or equity financing to conduct business in the upcoming year, with substantial doubt existing about its ability to continue as a going concern[272][278]. - The company intends to allocate funds for working capital, R&D, and marketing, although actual expenditures may differ due to industry uncertainties[288]. - As of March 31, 2025, there were no off-balance sheet arrangements reported[300]. - The company has net operating loss carry-forwards applicable to future taxable income in the United States, with income tax liabilities in the UK and Greece[311]. Operational Efficiency - Cost of Goods Sold (COGS) decreased by $1,588,118 or approximately 11.99%, amounting to $11,662,729 for the three-month period ended March 31, 2025, due to a shift towards higher-margin product lines[257]. - Management's strategy includes enhancing manufacturing capacities and building a multinational network of wholesalers, distributors, and pharmacies to support growth[281]. - The company continues to execute its "Growth Strategy" focusing on high-margin segments and proprietary brands such as Sky Premium Life®, Mediterranation®, and C-Sept® / C-Scrub® with launches in new geographical regions[283].

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 Emirat ...

CHICAGO, May 06, 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 formal notice from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is eligible for an additional 180 c ...

COSM is internationally recognized as one of the foremost meetings globally for the otolaryngology-head and neck surgery community. By convening multiple leading otolaryngology societies, the conference serves as a comprehensive academic platform dedicated to disseminating cutting-edge research, delivering advanced clinical education, and fostering collaboration among specialists to enhance patient care in head and neck medicine and surgery. Baird Medical's participation in COSM highlights the expanding app ...

Core Viewpoint - Cosmos Health Inc. has announced that its CEO, Greg Siokas, has significantly increased his ownership stake in the company by acquiring 1,466,764 common shares valued at $526,000, reflecting his confidence in the company's future prospects [1][2][3] Company Overview - Cosmos Health Inc. is a diversified, vertically integrated global healthcare group, incorporated in 2009 in Nevada, focusing on innovative R&D and owning proprietary pharmaceutical and nutraceutical brands [5] - The company manufactures and distributes healthcare products and operates a telehealth platform, with a global distribution network expanding throughout Europe, Asia, and North America [5] Recent Transactions - Greg Siokas has invested over $1.3 million in the past five months, increasing his total ownership to 5,582,066 common shares, with a cumulative investment exceeding $18 million since the company's inception [2][3] Product and Service Offerings - Cosmos Health owns a portfolio of brands including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept®, and C-Scrub®, and manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices under European Good Manufacturing Practices [5] - The company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, utilizing artificial intelligence for drug repurposing and focusing on novel patented nutraceuticals and innovative OTC products [5]

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 ma ...

Financial Performance - Total revenue for the year ended December 31, 2024, was $54,426,402, a slight increase from $53,376,874 in 2023, representing a growth of approximately 2%[266] - Gross profit for 2024 was $4,311,323, compared to $4,349,569 in 2023, indicating a decrease of about 0.9%[266] - Total operating expenses decreased to $19,856,153 in 2024 from $26,180,786 in 2023, reflecting a reduction of approximately 24%[266] - The net loss attributable to common stockholders for 2024 was $22,378,042, down from $25,783,834 in 2023, showing an improvement of about 13.5%[266] - Basic and diluted net loss per share for 2024 was $1.17, compared to $2.15 in 2023, indicating a reduction in loss per share[266] - Net loss for the twelve months ended December 31, 2024, was $16,183,018, compared to a net loss of $18,542,654 for the same period in 2023, indicating a reduction in losses[271] - The company reported a total loss before income taxes of $16,183,018 for the year ended December 31, 2024, compared to a loss of $18,542,654 in 2023, indicating a reduction in losses[426] Assets and Liabilities - Total current assets decreased to $25,461,347 in 2024 from $36,607,780 in 2023, a decline of approximately 30.5%[264] - Total assets decreased to $54,311,892 in 2024 from $66,014,811 in 2023, representing a decrease of about 17.7%[264] - Total liabilities remained relatively stable at $29,778,963 in 2024 compared to $29,971,783 in 2023, showing a slight decrease of about 0.6%[264] - The accumulated deficit increased to $114,022,275 in 2024 from $91,644,233 in 2023, reflecting a rise of about 24.4%[264] - The company reported a negative working capital of $296,193 and an accumulated deficit of $114,022,275 as of December 31, 2024[285] Cash Flow and Capital Management - Cash flows from operating activities included stock-based compensation of $1,689,712 for 2024, compared to $577,931 in 2023, reflecting increased compensation expenses[271] - The company had cash at the end of the year amounting to $315,105, down from $3,833,195 at the beginning of the year[285] - The company intends to raise additional funds through equity offerings starting August 2025, utilizing an S-3 registration statement[289] - The Company raised approximately $6 million through a private placement of 6,000 Series A Convertible Preferred Stock and 80,000 warrants, with a deemed dividend of $5,788,493 recorded on issuance[377] Regulatory and Market Risks - The Company faces significant risks related to regulatory approvals, which can be time-consuming and costly, with potential adverse effects on product commercialization[123] - The U.S. Inflation Reduction Act of 2022 may impact the Company’s future business, particularly regarding Medicare pricing and rebates, although current sales in the U.S. are not applicable[122] - The Company is subject to extensive government regulations that may restrict its ability to sell products in certain markets, impacting its business model[110] - Geopolitical issues, such as the war in Ukraine, could adversely affect the Company's operations and financial condition due to its international business presence[115] Acquisitions and Investments - The company completed the acquisition of Cana for a total consideration of $5,469,787, which included $5,331,120 in cash and $138,667 in common stock[284] - The acquisition of ZipDoctor was finalized for a total of $158,788, which included $150,000 in cash and $8,788 in fees[277] - The company recognized a bargain purchase gain of $1,440,249 related to the acquisition of Cana[284] - The company issued 99,710 shares of common stock valued at $316,081 for the acquisition of a pharmaceutical distribution network from Bikas[279] Impairments and Write-downs - The company recorded an impairment charge of $454,280 in 2024, indicating potential asset write-downs[271] - The company recorded an impairment charge of $291,980 for the year ended December 31, 2024, related to certain branded pharmaceuticals and a telehealth platform[314] - The Company recognized a full impairment loss on its investment in CosmoFarmacy LP, writing off its entire carrying amount, which was $160,470 in 2023[360] Taxation and Deferred Tax Assets - The total deferred tax assets increased to $18,277,172 in 2024 from $14,418,483 in 2023, primarily due to an increase in net operating loss carryforwards[427] - The company has provided a valuation allowance of $18,041,879 against its deferred tax assets, reflecting management's assessment that realization of these assets is not likely[427] - The company recognized a total current tax provision of $0 for both 2024 and 2023, indicating no current tax liabilities[425] Management and Corporate Governance - Management has expressed substantial doubt regarding the company's ability to continue as a going concern[290] - The company has a related party transaction with Doc Pharma S.A., where the CEO of Doc Pharma is the son of the company's CEO, indicating potential conflicts of interest[432]