Business
Cosmos Holdings Reports Continued Revenue Growth and Achieves $3.3 Million of Adjusted EBITDA for the Fiscal Year 2021
CHICAGO, IL / ACCESSWIRE / April 19, 2022 / Cosmos Holdings, Inc. ("the Company") (NASDAQ:COSM), an international pharmaceutical company with a proprietary
About this update from Cosmos Health Inc.
[{"type":"text","content":"CHICAGO, IL / ACCESSWIRE / April 19, 2022 / Cosmos Holdings, Inc. (\"the Company\") (NASDAQ:COSM), an international pharmaceutical company with a proprietary line of nutraceuticals and distributor of branded and generic pharmaceuticals, nutraceuticals, OTC medications and medical devices, today provided a business update and reported financial results for the year ended December 31, 2021.Greg Siokas, Chief Executive Officer of Cosmos Holdings, stated, \"We are pleased to have another year of revenue growth, as well as positive adjusted net income and positive adjusted EBITDA (as defined below) for the year ended December 30, 2021. Heading into 2022, we are off to a strong start and expect to achieve solid year-over-year organic growth again in 2022. We continue to invest in R&D and have grown our proprietary Sky Premium Life (\"SPL\") line of luxury nutritional supplements to 85 SKUs, up from 60 just a year ago. We recently announced that we have launched Mediterranation, a new premium line of nutritional supplements which uses organic herbs and plant found in specific regions in Greece and the Mediterranean. We believe this new line of premium nutraceuticals will further enhance our growth strategy and we look forward to expanding the product line into new global markets through our growing distribution channels. During 2021, we developed numerous new branded products, many of which have launched with more slated for launch throughout 2022. We are also focusing on creating a new line of proprietary branded and generic pharmaceuticals as EU prescription drugs come off patent.\"\"We continue to expand our distribution network worldwide and increase penetration across the EU. We are opening new markets and actively working to expand into Eastern and Northern Europe, North America, and Asian markets. We have built a highly scalable business model and our omni-channel marketing strategy now spans online sales, such as Amazon, as well as ‘brick and mortar' pharmacies, specialty nutrition stores and grocery stores. During 2021, we launched our SPL products on Amazon UK and entered into an exclusive distribution agreement with Mediprovita GbR in Germany and Austria. We also achieved a major milestone by partnering with China-based REMAI e-Commerce Co., Ltd. to open a flagship store and launch our SPL products on Alibaba's Tmall Global....