A Comprehensive Corporate Summary —
- Revenue record set three consecutive quarters: FY2025
$65.3M (+20%) ? Q1 2026$17.93M (+31%) ? Q2 2026$18.99M (+28.8%) ? H1 2026$36.91M (+29.7%). Annualized adjusted run-rate exceeds$75M . Full-year 2026 guidance: $90M+. - ATW
$8M convertible note retired 12 months early: No further conversions, no dilution. - Strengthened balance sheet: H1 2026 total liabilities reduced 13.3% and stockholders’ equity increased 12.2%
- Simplified capital structure: No shelf registration, no ATM, no floorless warrants.
- 5.1M+ shares repurchased for
~$1.11M under the$5M buyback. - Management increasing ownership: CEO
Greg Siokas personally increased ownership by 3.3M+ shares in 2025 and a further 7.8M+ shares in 2026, bringing his total holding to 14.6M shares. Zacks Small-Cap Research initiates coverage:$4.50 price target vs. a share price well below that level.- C-Scrub now in Tesco and
Superdrug : placement in theUK's #1 and #2 health/beauty retailers, serving tens of millions of customers weekly; also establishing presence across hospital and surgical channels following EN 12791 certification, and entering the global animal health market. - Sky Premium Life global rollout: exclusive
Saudi Arabia agreement withInnova Healthcare (126K units initial PO, 5M+ units projected over 5-year term),Qatar distribution agreement, third consecutiveUAE order, and pan-European availability across all 27 EU Member States. - CCX0722 hydrogel patent (WO2025108566A1) filed in
U.S .,Europe ,Australia andCanada — four markets inside a global weight-management category valued at$190.6B in 2025 and projected to reach$562B by 2033, growing at 14.2% CAGR. - 18 Series
U.S . buildout: Cur18™, Liv18™, Oliv18™ and Fort18™ launched/in production. NOOR Collagen DTC with >60% repeat rate. Combined projectedU.S . revenue$22 .7M+ at 70%+ gross margins. $3.1M invested in digital asset portfolio in BTC + ETH. Bitcoin holdings now in a gain position.~$20M in non-core assets identified for potential monetization — including wholly owned real estate and digital assets, without impacting core operations.- Operating cash requirements reduced by more than 30%, reflecting revenue growth, operating efficiencies and cost reduction initiatives
- 2029 guidance reaffirmed:
$200.6M revenue — a 32% CAGR from FY2025 — alongside$71.2M gross profit,$31.0M net income and$44.2M Adj. EBITDA.
The Company has executed across every dimension of its stated strategy in 2026: record revenue in every reporting period, a deleveraged and simplified balance sheet, a growing proprietary IP portfolio, meaningful

I. Financial Performance: Three Consecutive Record Periods
FY2025: Revenue
Q1 2026: Revenue
Q2 2026: Revenue
Operating Efficiency: operating cash requirements in H1 2026 ran more than 30% below the average of the prior two years, reflecting revenue growth, operating efficiencies and disciplined cost control — a meaningful step toward the Company’s 2027 profitability targets.
| METRIC | FY2025 | Q1 2026 | Q2 2026 | H1 2026 | ||
| Revenue | ||||||
| Adj. Gross Profit | +58% YoY | Expanding | ||||
| Total Liabilities | Improved | -$4.5M (-9.6%) | -$6.27M (-13.3%) | 550bps improvement | ||
| Stockholders’ Equity | Improved | +7.6% | +12.2% | Consistent growth | ||
| Adj. EBITDA | Improving | -$229K (near breakeven) | -$1.13M (improved) | Trend up | ||
II. Strengthened Balance Sheet and Capital Structure
The most consequential financial development of 2026 is the transformation of Cosmos Health’s capital structure. The Company has methodically removed meaningful dilution overhang mechanisms and, as a result, expects its share count to remain broadly stable under its existing capital structure, before accounting for the reduction from ongoing share repurchases.
- Convertible note repaid: On
August 28, 2026 the Company repaid in full its$8.0 million senior secured convertible note issued to ATW inAugust 2025 , together with all accrued interest, twelve months ahead of itsAugust 2027 maturity. The repayment eliminates any further conversions or dilution from that instrument. - Shelf registration withdrawn: The Company has withdrawn its Form S-1 and Form S-3 registration statements. No effective shelf registration or ATM offering program is in place.
- No structured or floorless warrants: Remaining warrants carry fixed exercise prices with no reset or ratchet provisions. In
May 2026 , 4,874,126 Series B warrants expired unexercised with no new shares issued, removing approximately 38% of the total warrant overhang. The next tranche of warrants carries an exercise price of$0.95 per share, significantly above the current share price. - Share repurchase program: 5,112,000 shares have been repurchased for approximately
$1.11 million under the$5.0 million authorization, with open market purchases ongoing. - Non-core assets:
~$20M in non-core assets identified for potential monetization (real estate, digital assets, marketable securities), including$15M in real estate at fair market value and$3.1M invested in digital assets (BTC + ETH). Bitcoin holdings are currently in a gain position.
| CHANGE | |||||
| Total liabilities | -$6.27M / -13.3% | ||||
| Stockholders’ equity | |||||
| Liabilities-to-assets ratio | 71.9% | 66.4% | 550 basis points improvement | ||
III. Diversified Asset Base and Digital Assets Strategy
The Company maintains a diversified asset base spanning liquid assets, digital holdings and real estate, alongside access to non-dilutive financing. Together these provide flexibility to fund the Company’s next phase of growth without recourse to equity issuance. As previously stated, the Company has identified approximately
Digital Assets
February 2026 :$500K Bitcoin purchase — total investments in digital holdings reach$2.5M March 2026 :$600K Bitcoin purchase — total investments in digital holdings reach$3.1M August 2026 : Bitcoin holdings in a gain position as of the date of this release, available for opportunistic monetization
Real Estate
Beyond its liquid and digital assets,
In
IV. Analyst Coverage and Valuation
On
V. Divisional Performance Snapshot
| DIVISION | 2026 KPI | KEY MILESTONES |
| CosmoFarm | > | Record Q2; $60M+ annualized run-rate. 80+ pharmacies added. AI robotic automation & inventory management deployed. LOI signed to acquire |
| 25M+ unit orderbook | All-time high contract manufacturing backlog; multi-year agreements up to 10 years. > | |
| Decahedron ( | Near 2× revenue | Nearly doubled revenue YoY in Q2 2026. Key distribution hub for |
| 18 Series / NOOR | Cur18™, Liv18™, Oliv18™ and Fort18™ launched or in production. NOOR Collagen >60% repeat rate, >50% margins. | |
| Sky Premium Life | 5M+ units / Saudi | |
| C-Scrub / C-Sept | C-Scrub live at Tesco (#1 | |
| CCX0722 Hydrogel | 4 patent markets | WO2025108566A1 advanced into US, EU, |
VI.
In
- Tesco: The UK’s largest retailer, holding ~30% market share and generating over
$80B in annual revenue globally. Tens of millions of customers served weekly. Superdrug : The UK’s second-largest beauty and health retailer, operating 830+ stores including 200+ in-store pharmacies across theUK andRepublic of Ireland , plus a strong e-commerce platform.
The listing in both retailers represents a step-change in C-Scrub’s
- Hospital and surgical (
April 2026 ): C-Scrub Wash 4% completed testing under EN 12791, the European standard for surgical hand disinfection, supporting entry into hospital, surgical and professional healthcare procurement channels. C-Sept PRO has since gained traction across leading Greek public and private hospital groups. - EU expansion: C-Scrub and C-Sept reported annualized sales above
$1.5 million at gross margins over 70%, with planned European expansion targeting$2.5 million in revenue in 2026, rising to$7.4 million in revenue and$5.3 million in gross profit by 2028. - Animal health (
June 2026 ): Veterinary C-Scrub Wash 4% certified under EN 1656 and EN 1657 European standards — opening the$69B global animal health market. The veterinary line extends an existing certified formulation manufactured in-house at Cana’s facility.
Acquisitions
The Company is actively exploring acquisitions that could be immediately accretive and accelerate progress toward its stated guidance targets. Two letters of intent (LOI) have been signed to date:
- Pharmacy distribution network (
March 2026 ): LOI signed to acquire a$11.5M pharmacy distribution network, further expanding CosmoFarm’s reach. Doc Pharma S.A. (June 2026 ): LOI signed to acquireDoc Pharma S.A. , an affiliated European GMP pharmaceutical manufacturer, expected to expand assets, production capacity, product portfolio and profitability.
VII. International Expansion:
European Union (
VIII. CCX0722 Hydrogel: International Patent in Four Markets
On
CCX0722 works through a simple, mechanical mechanism with no systemic absorption. Taken as a capsule before meals, the dried hydrogel absorbs water in the stomach and swells more than 100-fold into soft gel pieces that occupy stomach volume to support satiety, before naturally passing through the GI tract. The global weight management market was
IX.
The 18 Series is Cosmos Health’s portfolio of science-validated nutraceutical products, manufactured in
- Cur18™ — Patented, clinically studied curcumin formulation delivering up to 39× higher free curcumin bioavailability versus standard 95% curcuminoid extracts.
U.S . commercial launch Q2 2026. - Liv18™ — Clinically validated liver health supplement. Phase 1 complete; production commenced
April 2026 at a GMP-certified,FDA -registered, UL-auditedU.S . facility. Projected $5M+ annual revenue at ~75% gross margin. Tariff-mitigated viaU.S .-based manufacturing. - Oliv18™ — Whole olive polyphenol; USDA and EU organic certified; 100% solvent-free. Targeting
U.S . cardiovascular and antioxidant categories. Projected $6M+ annual revenue at ~72% gross margin within 12–18 months. - Fort18™ — Men’s wellness supplement introduced
May 2026 . Projected$3 .2M+ incremental annualU.S . revenue within 12–18 months. - NOOR Collagen — Korean-developed premium collagen. Subscription model launched with >60% early repeat purchase rate at >50% gross margins. Projected $12M+ annualized revenue. Entering
$163B global skincare market.
Combined, the 18 Series / NOOR
X. AI Strategy and Operational Infrastructure
AI has moved from strategy to execution at
- Enterprise integration (
April 2026 ): AI deployed across front-end order and customer management, back-end warehouse, inventory and supply chain operations, and the proprietary Cloudscreen drug repurposing platform — with the potential to reduce certain operating expenses by up to 30%. - CosmoFarm automation: AI robotic automation deployed for inventory management and order fulfillment, alongside expanded facility capacity supporting an additional $40M+ in annual revenue capacity.
- Customer operations (
June 2026 ): AI-powered call center agreement signed — multilingual voice, outbound campaigns and real-time reporting — to optimize order intake and customer communications. - Subscription platform (
July 2026 ): The Company is actively developing an AI-enabled digital subscription platform spanning consumer (B2C) and corporate (B2B) channels, building on theU.S . subscription launch of NOOR Collagen, which has delivered an early repeat purchase rate above 60%.
These investments underpin the operating leverage the Company expects to demonstrate as revenue scales toward
XI. 2026–2029 Financial Guidance Reaffirmed
The Company reaffirms its guidance issued
| METRIC | FY2025 (actual) | 2026 (guidance) | 2027 (guidance) | 2029 (guidance) |
| Revenue | > | |||
| Gross Profit | Expanding | |||
| Net Income | Loss | Near B/E path | ||
| Adj. EBITDA | Improving | Improving | ||
| Cash | Stable+ | |||
The 32% CAGR is expected to be driven by a structural margin shift toward proprietary segments: the 18 Series (72–75% gross margins), CCX0722 licensing/co-development, and Cana contract manufacturing — alongside continued organic growth in distribution.
Management believes that achieving these targets would create significant value for shareholders, as the Company transitions to a self-funded model driven by strong cash flows.
XII. Complete 2026 Milestone Timeline
| DATE | MILESTONE |
| Accelerating CosmoFarm customer growth; robotic expansion supporting $40M+ additional annual revenue | |
| C-Scrub listed at Tesco, the UK’s largest retailer (~30% market share) | |
| C-Scrub listed at | |
| Company highlights | |
| LOI signed to acquire | |
| Corporate update: NOOR Collagen projected at $12M+ annualized | |
| C-Scrub Wash 4% completes EN 12791 testing for surgical hand disinfection | |
| Planned | |
| Third consecutive | |
| FY2025 results: Record | |
| Enterprise AI integration announced — potential to reduce certain operating expenses by up to 30% | |
| Cur18™ | |
| Liv18™ Phase 1 complete; production commencing at GMP/ | |
| Cur18™ projected to contribute | |
| Fort18™ introduced, extending the 18 Series into men’s wellness | |
| Fort18™ projected to contribute | |
| Registration Statement on Form S-1 withdrawn | |
| Advisory agreement signed with the | |
| Q1 2026 results: Record | |
| 4,874,126 Series B warrants expire unexercised — 38% of warrant overhang removed with no dilution | |
| 2026–2029 financial guidance: | |
| Veterinary C-Scrub Wash 4% launched — entry into the | |
| Pan-European distribution achieved for Sky Premium Life across all 27 EU Member States via Skroutz | |
| Oliv18™ launched in | |
| New capsule production line inaugurated; five-year Provident agreement for 385,000 units of CERTORUN | |
| Three-year, 3.9M-unit contract manufacturing agreement signed with | |
| LOI signed to acquire | |
| C-Scrub and C-Sept annualized sales exceed | |
| Contract manufacturing orders totaling 253,657 units received from Nassington and | |
| Entry into the | |
| CosmoFarm delivers record Q2 > | |
| Cana orderbook hits all-time high of 25M+ units; > | |
| AI-powered call center agreement signed for CosmoFarm customer communications | |
| C-Sept PRO gains traction across Greek hospital groups — | |
| International patent application WO2025108566A1 advanced into US, EU, | |
| Distribution agreement signed with | |
| Board authorizes | |
| Preliminary Q2 record revenue | |
| Subscription model launched with NOOR Collagen — >60% repeat purchase rate, >50% gross margins | |
| Agreement signed with Libytec to commercialize DIABIT-IS X in | |
| Buyback reaches 5.11M shares repurchased for | |
| AI-enabled digital subscription platform announced across B2C and B2B channels | |
| Q2 2026 results confirmed: | |
| Oliv18™ projected to generate $6M+ annual | |
Management Commentary
“Every pillar of our strategy is delivering. CosmoFarm is growing its pharmacy network and deploying AI. Cana has its biggest contract manufacturing orderbook in history. Decahedron nearly doubled its
“We enter the second half of 2026 with a solid balance sheet and a streamlined capital structure, growing revenue across every division, and a clear path to
About Cosmos Health Inc.
Cosmos Health Inc. (NASDAQ: COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept® and C-Scrub®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, www.zipdoctor.co, www.cloudscreen.gr, as well as LinkedIn and X.
Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” and similar expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could,” generally identify forward-looking statements, although not all forward-looking statements contain these words. These statements involve risks and uncertainties that may individually or materially affect the matters discussed herein for a variety of reasons outside the Company’s control, including, but not limited to: the Company’s ability to raise sufficient financing to implement its business plan; the effectiveness of its digital asset strategies, including accumulation and yield-generating activities; the impact of the war in Ukraine and ongoing conflicts in the Middle East and other regions on the Company’s business, operations, and the economy in general; the Company’s ability to successfully develop and commercialize its proprietary products and technologies; changes in interest rates; changes in foreign currency exchange rates, commodity or other price inflation and deflation; our ability to issue debt on terms and at rates acceptable to us; the impact and expected outcome of investigations, inquiries, claims, and litigation; the challenges of operating in international markets; the adequacy of insurance coverage; the effect of accounting charges and of adopting certain accounting standards; the impact of legal and regulatory changes, including changes to tax laws and regulations; guidance for fiscal 2026 and beyond and financial outlook. Forward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events. You should not rely on our forward-looking statements. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control, dependent on the actions of third parties, or currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our historical experience and our expectations and projections. These risks and uncertainties include, but are not limited to, those described from time to time in our periodic reports filed with the SEC and available at the SEC’s website (www.sec.gov). There also may be other factors that we cannot anticipate or that are not described herein, generally because we do not currently perceive them to be material. Such factors could cause results to differ materially from our expectations. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our filings with the Securities and Exchange Commission and in our other public statements.
Investor Relations Contact:
BDG Communications
cosm@bdgcommunications.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b3c3061f-2b75-4eaf-9ca4-2e98bdd664b2
Source: Cosmos Health Inc.
