Filing Flows › Cosmos Health (COSM) › Q3 2025
Cosmos Health (COSM) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Cosmos Health (COSM) reported revenue of $17.1M for the third quarter 2025 (Q3 2025), +38% from a year earlier and +16% from the quarter before. Operating margin was -10.6%, net loss $5.4M (31.3% of revenue).
Cosmos Health, Q3 2025: revenue $17.1M (+38% year over year), operating margin -10.6%, net loss $5.4M, operating cash flow −$2.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $17.1M | +16% | +38% |
| Operating profit | −$1.8M | — | — |
| Net earnings | −$5.4M | — | — |
| Operating cash flow | −$2.5M | — | — |
What changed
Revenue was $17.1M in Q3 2025, up 38% year over year and up 16% from the previous quarter. Wholesale was the largest line at 85% of revenue.
Gross margin was 15.2%, up 5.5 points from a year earlier. Operating costs exceeded revenue by $1.8M, an operating margin of -10.6%. Operating expenses grew 28% against revenue growth of 38%. The fastest-growing cost line was Sales & marketing (+55%). The quarter ended with a net loss of $5.4M, wider than the previous quarter's $2.8M loss. Net interest and other expense of $3.5M was the main reason.
Operating cash flow was −$2.5M. Non-cash charges added back $376K of depreciation and amortization and $571K of share-based compensation. Working capital and other items added $2.0M. Capital expenditures of $13K exceeded it, leaving free cash flow of −$2.5M.
Questions
What was Cosmos Health's revenue in the third quarter 2025?
Cosmos Health (COSM) reported revenue of $17.1M for the third quarter 2025 (Q3 2025), +38% from a year earlier and +16% from the quarter before.
Was Cosmos Health profitable in the third quarter 2025?
Operating loss was $1.8M (-10.6% of revenue) and net loss $5.4M.
Source: Cosmos Health 10-Q on SEC EDGAR.