aibioCosmos Health reports 2025 revenue of $65.3 million, up 20%
Tickers COSM
Gross profit rose 83% to $7.90 million, and cash reached $3.46 million at December 31, 2025.
Key facts
- Company
- Cosmos Health Inc. (NASDAQ: COSM)
- News type
- Company Updates
- Primary source
- Cosmos Health Inc. 8-K (2026-04-16)
Cosmos Health Inc. reported results for the full year ended December 31, 2025, in a release dated April 15, 2026. Revenue was $65.27 million, up 20% from $54.43 million in 2024. The company called it the highest annual revenue in its history. The company said growth came from scaling contract manufacturing at Cana Laboratories, higher wholesale volumes at CosmoFarm, sales growth at Decahedron in the United Kingdom and the expansion of its proprietary brands, including Sky Premium Life and C-Scrub.
Profit and margins
Gross profit increased 83% to $7.90 million, from $4.31 million in 2024. Gross margin expanded 418 basis points to 12.10%, from 7.92%. Total operating expenses rose to $24.60 million from $19.86 million. The company said the increase reflected hiring in management, sales and science, costs for global expansion, and provisions for doubtful accounts. Excluding those provisions and other non-cash items, operating expenses were broadly in line with the prior year.
The net loss was $19.14 million, compared with $16.18 million in 2024. Adjusted EBITDA improved to a loss of $3.36 million from a loss of $3.44 million. Adjusted net loss was $5.98 million, against $4.45 million. Reported net loss per share was $0.63, compared with $1.17. Adjusted net loss per share was $0.12, compared with $0.65.
Balance sheet
Total assets rose to $65.48 million from $54.31 million at December 31, 2024. Cash and cash equivalents were $3.46 million, up from $0.32 million, and the company said it ended the year with $3.5 million in cash, more than ten times its year-end 2024 cash position. Digital assets were $1.41 million. Inventory was $5.78 million, and accounts receivable were $22.07 million, up from $14.71 million. Property and equipment, net, was $10.58 million, largely wholly owned real estate, including CosmoFarm's logistics center and the manufacturing facilities at Cana Laboratories. Total liabilities increased to $47.05 million from $29.78 million. Stockholders' equity was $18.42 million, down from $24.53 million.
Chief Executive Greg Siokas said the company secured long-term contract manufacturing agreements for over 12 million units at Cana Laboratories, and purchase orders for over 300,000 units of Sky Premium Life. He said the company introduced 60 new SKUs and that its U.S. business is ramping. He also described a $300 million digital asset facility and an Ethereum treasury strategy, and said he increased his ownership by over 3.3 million shares in 2025.
The release says the company secured buy-out rights and exclusive licensing for two patented anticancer drugs valued at over $24.5 million, targeting prostate, ovarian and colorectal cancers. The $24.5 million figure is the company's own valuation, and the release gives no development timeline for those drugs. It also cites AI-driven patent filings through Cloudscreen, the company's drug repurposing platform. Siokas said NOOR Collagen is already generating sales and that he sees a path to over $12 million in annualized revenue at approximately 75% gross margins. That is a management projection, not a result.
Losses, debt and slow collections
The release says record growth continues into 2026, U.S. expansion is under way and the CCX0722 weight management product is entering final development. The chief executive also says the company is evaluating strategic options for its real estate, which is the largest part of its property base. The 2025 figures show what stands in the way. The net loss widened to $19.14 million and adjusted EBITDA, the company's own measure, was still a loss of $3.36 million. Total liabilities rose to $47.05 million from $29.78 million, and stockholders' equity fell to $18.42 million from $24.53 million. Accounts receivable rose to $22.07 million against cash of $3.46 million, and the 10-K shows $8.4 million of cash used in operations. The cash increase came from financing, not from operations. The company still has to turn growing sales into profit and cash.