Core Insights - Cosmos Health Inc. reported a revenue increase of 2.0% to $54.43 million for FY 2024, driven by organic growth and contributions from prior acquisitions [5][12] - The company experienced a significant reduction in total operating expenses by 24.16% to $19.86 million, primarily due to cuts in general and administrative expenses and sales and marketing expenses [5][12] - Adjusted EBITDA was negative $3.73 million, a decline from positive $0.06 million in FY 2023, while adjusted net loss widened to $4.74 million from $0.81 million [5][12] Financial Performance - Revenue for FY 2024 was $54.43 million, up from $53.38 million in FY 2023 [5][12] - Gross margin decreased to 7.92% from 8.15% in FY 2023, attributed to a higher revenue mix from lower-margin logistics distribution [5] - Total operating expenses fell to $19.86 million from $26.18 million, with a 40.26% reduction in general and administrative expenses and a 71% decrease in sales and marketing expenses [5][12] Balance Sheet Overview - The liabilities-to-assets ratio was 55% at year-end 2024, indicating a balanced capital structure [3] - Total assets decreased by 17.72% to $54.31 million from $66.01 million at the end of 2023 [5][21] - Total liabilities slightly decreased by 0.64% to $29.78 million as of December 31, 2024 [5][21] R&D and Product Innovation - The company is leveraging AI-driven drug repurposing technologies and is advancing the commercialization of a proprietary weight loss drug [8] - Significant progress was made in securing long-term manufacturing agreements, enhancing revenue visibility [9] - The oncology portfolio was strengthened with the acquisition of two WIPO-patented anticancer drugs valued at over $24.5 million [11] Strategic Developments - The company expanded its nutraceutical brand, Sky Premium Life, with 60 new SKUs and launched the brand in Albania and Qatar [11] - A €2.2 million loan was secured against the CosmoFarm logistics center, providing strategic financial flexibility [10] - CEO Greg Siokas increased personal ownership by over 1 million shares, reflecting confidence in the company's long-term strategy [11]