The short answer is yes.

Unfortunately, if you lost both your Recovery Passphrase AND your Coinomi password, you cannot restore your Coinomi wallets.

We are not a centralized service, this is what makes Coinomi safe. We have no access to your passphrases, passwords, keys or funds, they are always only in your device and are your responsibility. 

If you still have access to your device and your Coinomi, please go to "... / Settings / Show recovery phrase" and try as many passwords as you might think might be the correct one. Your funds may still be recoverable if you have access to your device and Coinomi has not been deleted but you can't access it or if Coinomi has not been deleted but your phone is broken/inaccessible. In these cases, please contact our support.

If you don't have access to the device, or if the device no longer has your wallets installed, having only the password is not enough.

Note: Please do NOT save your Recovery Passphrase as a memo/file/screenshot in the same device as Coinomi, since losing/breaking this device will make you lose the Recovery Passphrase as well.