Filing Flows › Cosmos Health (COSM) › Q4 2025
Cosmos Health (COSM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Apr 15, 2026
Cosmos Health (COSM) reported revenue of $19.7M for the fourth quarter 2025 (Q4 2025), +39% from a year earlier and +15% from the quarter before. Operating margin was -57.9%, net loss $10.1M (51.5% of revenue).
Cosmos Health, Q4 2025: revenue $19.7M (+38% year over year), operating margin -57.9%, net loss $10.1M, operating cash flow −$4.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.7M | +15% | +39% |
| Operating profit | −$11.4M | — | — |
| Net earnings | −$10.1M | — | — |
| Operating cash flow | −$4.6M | — | — |
What changed
Revenue was $19.7M in Q4 2025, up 39% year over year and up 15% from the previous quarter. Wholesale was the largest line at 95% of revenue.
Gross margin was 10.6%, up 3.5 points from Q4 2024. Operating costs exceeded revenue by $11.4M, an operating margin of -57.9%. Operating expenses grew 35% against revenue growth of 39%. The fastest-growing cost line was General & admin (+49%). The quarter ended with a net loss of $10.1M, wider than the previous quarter's $5.4M loss.
Operating cash flow was −$4.6M. Non-cash charges added back $315K of depreciation and amortization and $582K of share-based compensation. Working capital and other items added $4.7M. Capital expenditures of $8K exceeded it, leaving free cash flow of −$4.6M.
Questions
What was Cosmos Health's revenue in the fourth quarter 2025?
Cosmos Health (COSM) reported revenue of $19.7M for the fourth quarter 2025 (Q4 2025), +39% from a year earlier and +15% from the quarter before.
Was Cosmos Health profitable in the fourth quarter 2025?
Operating loss was $11.4M (-57.9% of revenue) and net loss $10.1M.
Source: Cosmos Health 10-K on SEC EDGAR.