Cosmos Health Q2: Revenues Slip 6%, Unfavorable Forex, Positive Adjusted EBITDA & More

Cosmos Health Inc. COSM reported Q2 revenues of $12.36 million, down 6.4% Y/Y. 

The company reported adjusted EPS of $0.01, compared to a $(0.35) loss in the prior year. 

Gross profit slumped 48.7% Y/Y to $0.95 million.

Revenues were affected, in part, due to unfavorable USD to EUR and GBP exchange rate movements.

Adjusted EBITDA in the quarter under review was $0.23 million, lower than $0.299 million a year ago.

Net loss in the quarter narrowed on year to $(0.98) million from $(1.24) million loss a year ago.

Interest expense in Q2 lowered to $0.24 million from $0.62 million a year ago.

"Our ambitious strategy focuses on key areas such as creating synergies, improving operational efficiency, pursuing vertical integration, investing in innovative R&D, expanding our brands, and strategically growing our distribution network and facilities on a global scale. We look forward to providing our investors with some exciting updates that are in the works." said Greg Siokas, Chief Executive Officer of Cosmos Health.

Price Action: COSM shares are trading higher by 3.7% to $1.39 on the last check Tuesday.