Cosmos Health reports Q1 EPS (11c) vs. (4c) last year

Reports Q1 revenue $14.58M vs. $12.35M last year. Greg Siokas, CEO of Cosmos Health, stated: “I am extremely pleased that our solid momentum from 2023 is continuing into 2024. Cosmos has returned to strong growth mode, achieving nearly 20% revenue growth, a nearly 40% increase in gross profit, and improved gross margins. At the same time, we continued our deleveraging efforts, with total liabilities decreasing by $2.17 million, or 7.8%, while total stockholders’ equity remained near record levels at $34.55 million. We are beginning to see the positive impact of our various investments, including, among others, our manufacturing facilities at Cana, benefiting from both vertical and horizontal integration; our expanded pharmacy distribution network, bolstered by multiple bolt-on acquisitions; the broader reach of our proprietary brands through global distribution agreements; and advances in our R&D program utilizing cutting-edge AI for drug repurposing through Cloudscreen. We remain committed to achieving sustained profitability through operational efficiencies, disciplined cost management, and the continued momentum of our robust sales growth.”