Cosmos Health Inc.

Listed Company

COSMCIK 0001474167NasdaqNon-AcceleratedSmaller ReportingWholesale-Drugs, Proprietaries & Druggists' SundriesNevadaFY ends Dec 31

Period

FY 2025

Revenue

$65.27M

Net Income

$-19.14M

Total Assets

$65.48M

Equity

$18.42M

Shares Out

50.82M

Op. Cash Flow

$-8.45M

Business

Cosmos Health Inc. is a diversified, vertically integrated global healthcare group that develops, manufactures, markets and distributes pharmaceutical, nutraceutical and related healthcare products and operates a telehealth platform. It offers proprietary nutraceutical brands (Sky Premium Life®, Mediterranation®), generic and OTC pharmaceuticals, biocides and medical devices, innovative oncology and obesity therapeutics, an AI-driven drug repurposing platform (Cloudscreen®) and a subscription telemedicine service (ZipDoctor). Its business is organized across manufacturing, wholesale distribution, R&D/drug repurposing and telehealth segments. The company primarily serves markets in the European Union and the UK through wholesalers, pharmacies, distributors and direct-to-consumer channels.

Summary from filing dated 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
REVENUE	65	54	53	50	56
COST OF GOODS SOLD	57	50	49	44	48
GROSS PROFIT	8	4	4	6	8
General and administrative expenses	16	12	20	10	9
Salaries and wages	7	6	5	2	2
Sales and marketing expenses	150,240	354,969	1	630,057	732,545
Research and development costs	519,363	533,293	164,859	—	—
Impairment Charges	162,785	291,980	0	—	—
Depreciation and amortization expense	1	1	614,377	188,890	449,692
TOTAL OPERATING EXPENSES	25	20	26	13	13
LOSS FROM OPERATIONS	−17	−16	−22	−7	−5
Other income (expense), net	−233,443	86,737	−65,867	−2	−88,882
Interest expense	−2	−1	−866,476	−2	−3
Interest income	396,413	406,449	662,859	236,349	46,316
Gain on equity investments, net	21,368	2,470	—	—	—
Gain on extinguishment of debt	68,610	0	—	1	606,667
Non-cash interest expense	−722,763	0	—	−2	−757,021
Change in fair value of derivative liability	2	0	—	—	—
Unrealized loss on digital assets	−588,916	0	—	—	—
Change in fair value of convertible notes	−1	0	—	—	—
Foreign currency translation, net	339,847	−121,530	—	−413,279	−493,527
TOTAL OTHER INCOME (EXPENSE), NET	−2	−638,188	3	−6	−3
LOSS BEFORE INCOME TAXES	−19	−16	−19	−13	−8
INCOME TAX EXPENSE	0	0	0	−775,051	−114,010
NET LOSS	−19	−16	−19	−14	−8
Deemed dividend on issuance of warrants	0	−6	—	−32	0
Deemed dividend on warrant exchange/modification	0	−9,793	—	—	—
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	−19	−22	—	−64	−16
Foreign currency translation adjustment, net	2	−2	712,791	−981,014	−1
TOTAL COMPREHENSIVE LOSS	−17	−24	−25	−65	−17
BASIC NET LOSS PER SHARE	−0.63	−1.17	−2.15	−33.16	−23.74
DILUTED NET LOSS PER SHARE	−0.63	−1.17	−2.15	−33.16	−23.74
Basic	30	19	—	2	656,933
Diluted	30	19	—	2	656,933

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	715,674	315,105	—	21	286,487
Restricted cash	3	0	—	—	—
Accounts receivable, net	20	13	20	24	—
Accounts receivable - related party	2	1	—	—	—
Marketable securities	46,158	21,148	20,075	14,881	11,468
Inventory	6	4	5	3	3
Loans receivable	487,638	614,473	411,858	—	—
Loans receivable - related party	0	557,473	—	—	—
Prepaid expenses and other current assets	2	1	2	2	3
Prepaid expenses and other current assets - related party	5	4	—	—	—
TOTAL CURRENT ASSETS	38	25	37	56	40
Property and equipment, net	11	10	10	2	2
Goodwill and intangible assets, net	8	8	8	706,914	485,767
Digital assets	1	0	—	—	—
Loans receivable - long term portion	3	3	—	—	—
Loans receivable - related party - long term	0	3	4	—	—
Operating lease right-of-use asset	596,779	696,166	1	1	834,468
Financing lease right-of-use asset	3,831	13,607	28,790	43,084	211,099
Advances for building's acquisition	600,000	2	2	0	—
Other assets	2	1	—	—	—
Other assets - related party	2	2	—	—	—
TOTAL ASSETS	65	54	66	68	49
Accounts payable and accrued expenses	15	11	—	—	—
Accounts payable and accrued expenses - related party	2	1	231,564	—	—
Accrued interest	786,497	221,820	—	—	—
Lines of credit	9	7	7	6	—
Notes payable	2	3	2	2	—
Notes payable - related party	11,971	10,558	11,283	10,912	—
Loans payable - related party	0	6,194	—	—	—
Convertible notes payable	2	0	—	—	381,062
Derivative liability - convertible note	1	0	0	54,293	—
Operating lease liability, current portion	222,115	196,718	285,563	239,899	138,450
Financing lease liability, current portion	3,854	11,484	27,222	24,576	73,078
Other current liabilities	6	3	3	3	1
TOTAL CURRENT LIABILITIES	38	26	24	22	30
Notes payable - long term portion	2	2	3	3	13
Convertible notes payable - long term portion	4	0	—	—	—
Operating lease liability, net of current portion	373,473	498,398	844,866	828,762	696,015
Financing lease liability, net of current portion	0	3,399	5,261	31,333	148,401
Other liabilities	3	2	2	1	0
TOTAL LIABILITIES	47	30	30	28	45
Commitments and Contingencies (see Note 14)	0	0	0	0	0
Common stock, $0.001 par value;1,500,000,000 shares authorized; 41,153,809 and 23,689,135 shares issued and 41,067,312 and 23,602,638 outstanding as of December 31, 2025 and December 31, 2024, respectively	41,154	23,689	15,983	10,606	702
Additional paid-in capital	152	142	129	112	40
Subscription receivable	0	−20	—	—	—
Treasury stock, at cost, 86,497 shares as of December 31, 2025 and December 31, 2024	−917,159	−917,159	—	—	—
Accumulated deficit	−133	−114	−92	−66	−34
Accumulated other comprehensive income/(loss)	331,503	−2	−419,844	−1	−151,621
TOTAL STOCKHOLDERS' EQUITY	18	25	36	39	4
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	65	54	66	68	49

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	1	1	—	103,194	352,422
Amortization of right-of-use assets	8,289	29,883	23,686	85,696	97,270
Bad debt expense	6	5	12	6	1
Impairment charges	162,785	454,280	0	—	—
Unrealized loss on crypto assets	588,916	0	—	—	—
Lease expense	264,677	286,765	—	—	—
Interest on finance leases	528	2,066	2,903	16,467	11,576
Stock based compensation	2	2	577,931	24,401	6
Deferred income taxes	22,722	−11,843	78,553	780,099	−714,108
Gain on net change in fair value of equity investments	−21,368	−2,470	—	—	—
Gain on conversion of debt	−68,609	0	—	—	—
Revenue reversals	464,610	0	—	—	—
Actuarial gains/(losses)	−48,335	0	—	—	—
Accounts receivable, net	−5	1	−5	−3	−6
Accounts receivable - related party	−1	−136,028	1	−170,815	97,234
Inventory	−829,975	146,451	−890,903	−485,469	−89,582
Prepaid expenses and other current assets	−560,891	−1	—	−894,893	−3
Prepaid expenses and other current assets - related party	−332,399	−1	−913,574	−375,311	—
Accounts payable and accrued expenses	2	−205,791	644,838	2	3
Accounts payable and accrued expenses - related party	2	1	—	—	—
Accrued interest	545,030	69,070	—	—	—
Lease liabilities	−265,148	−285,945	−373,816	−210,781	−231,900
Other current liabilities	2	141,204	−1	−320,420	1
Other liabilities	350,859	322,705	—	—	−231,900
NET CASH USED IN OPERATING ACTIVITIES	−8	−8	−16	−15	−7
Proceeds from loan receivable	137,963	468,974	806,464	351,474	63,699
Purchase of digital assets	−2	0	—	—	—
Purchase of intangible assets	−97,143	−849,168	—	—	—
Purchase of property and equipment	−55,675	−418,075	−1	−74,207	−581,398
NET CASH USED IN INVESTING ACTIVITIES	−2	−798,269	−14	−21,497	−826,817
Proceeds from convertible note payable	10	0	—	0	600,000
Payment of note payable	−2	−1	—	−421,373	−605,387
Proceeds from note payable	1	865,600	1	487,098	591,500
Payment of related party loan	−6,766	−25,968	0	−5	0
Proceeds from related party loan	0	19,476	0	4	7
Payment of lines of credit	−27	−25	−2	−12	−24
Proceeds from lines of credit	28	26	20	22	24
Proceeds from the sale of common stock	5	649,039	0	6	0
Proceeds from the exercise of warrants	0	4	—	11	0
Payments of financing fees	−2	−391,575	−717,888	−3	0
Payments of finance lease liability	−9,709	−35,062	−27,786	−99,906	−92,105
NET CASH PROVIDED BY FINANCING ACTIVITIES	14	5	13	35	7
Effect of exchange rate changes on cash	−448,834	−49,471	−214,139	307,044	314,306
NET CHANGE IN CASH	3	−4	−17	20	−341,908
Cash	715,674	315,105	—	—	—
Restricted Cash	3	0	—	—	—
Total Cash and Restricted Cash	3	315,105	—	—	—
Interest	947,139	704,839	406,885	588,051	2
Income tax	0	0	—	0	0
Debt discount on convertible notes	−3	0	—	—	—
Derivative recorded	3	0	—	—	—
Closing of acquisition of Cloudscreen	0	637,080	—	—	—
Deemed dividend upon warrant exchange	0	6	—	—	—
Common stock issued for convertible notes payable	441,164	0	—	—	—
Common stock issued for notes payable	224,791	0	—	—	—
Common stock issued in exchange for debt	2	0	—	—	—
Common stock issued to employees	1	695,405	—	—	—
Common stock issued to consultants	1	994,160	—	—	—

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