Cosmos Holdings Inc. reported strong revenue growth in the fourth quarter of 2016 over the previous quarter. Sales increased from $1,414,000 to $3,070,000 from Q3 2016 to Q4 2016, respectively, an over 110% improvement. The increase was due to organic growth in sales from the Company’s subsidiary Sky Pharm SA.
Cosmos Holdings had revenue for the full year ended December 31, 2016, of $6,755,436, versus $533,802 for the full year ended December 31, 2015. During 2016, revenues increased over 1100% compared to revenues in 2015.
Cosmos Holdings was successful in securing $2,664,960 of institutional capital as of March 23, 2017. The company has also entered into an agreement for an additional €2,750,000 of capital through its subsidiary Decahedron in the form of a trade facility on April 10, 2017.
Cosmos Holdings was successful in decreasing its customer concentration risk. In 2015 the Company’s top three customers comprised 87% of its total sales compared to 56% in 2016. The Company was also successful in expanding its geographic market from four countries in 2015to eight countries in 2016.