Cosmos Health Q2: Revenues Slip 6%, Unfavorable Forex, Positive Adjusted EBITDA & More
Portfolio Pulse from Nabaparna Bhattacharya
Cosmos Health Inc. (NASDAQ: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. Revenues were affected by unfavorable USD to EUR and GBP exchange rate movements. Adjusted EBITDA was $0.23 million, lower than $0.299 million a year ago. Net loss in the quarter narrowed to $(0.98) million from $(1.24) million loss a year ago. COSM shares are trading higher by 3.7% to $1.39.
August 15, 2023 | 1:40 pm
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Cosmos Health reported a decrease in Q2 revenues, adjusted EBITDA, and gross profit, but a narrowed net loss. The stock price increased by 3.7%.
Despite the decrease in revenues, adjusted EBITDA, and gross profit, the company's net loss has narrowed, which may have contributed to the increase in stock price. However, the unfavorable forex could continue to impact the company's revenues.
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IMPORTANCE 80
RELEVANCE 100