Filing Flows › Cosmos Health (COSM) › Q1 2026
Cosmos Health (COSM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 20, 2026
Cosmos Health (COSM) reported revenue of $17.9M for the first quarter 2026 (Q1 2026), +31% from a year earlier and -9% from the quarter before. Operating margin was -12.2%, net loss $2.8M (15.6% of revenue).
Cosmos Health, Q1 2026: revenue $17.9M (+31% year over year), operating margin -12.2%, net loss $2.8M, operating cash flow −$1.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $17.9M | -9% | +31% |
| Operating profit | −$2.2M | — | — |
| Net earnings | −$2.8M | — | — |
| Operating cash flow | −$1.1M | — | — |
What changed
Revenue was $17.9M in Q1 2026, up 31% year over year and down 9% from the previous quarter. Wholesale was the largest line at 94% of revenue. Wholesale added $4.4M year over year (up 35%), 104% of the total change. Nutraceuticals and Pharmaceuticals declined 15%.
Gross margin was 7.7%, down 7.2 points from Q1 2025. Operating costs exceeded revenue by $2.2M, an operating margin of -12.2%. Operating expenses grew 24% against revenue growth of 31%. The fastest-growing cost line was Other operating costs (+28%). The quarter ended with a net loss of $2.8M, narrower than the previous quarter's $10.1M loss.
Operating cash flow was −$1.1M. Non-cash charges added back $347K of depreciation and amortization and $536K of share-based compensation. Working capital and other items added $856K. Capital expenditures of $11K exceeded it, leaving free cash flow of −$1.1M.
Questions
What was Cosmos Health's revenue in the first quarter 2026?
Cosmos Health (COSM) reported revenue of $17.9M for the first quarter 2026 (Q1 2026), +31% from a year earlier and -9% from the quarter before.
Was Cosmos Health profitable in the first quarter 2026?
Operating loss was $2.2M (-12.2% of revenue) and net loss $2.8M.
Source: Cosmos Health 10-Q on SEC EDGAR.