If you still have access to your device configured with your Coinomi wallets and showing your funds and you remember your password, please go to "Settings / Manage wallets" select the wallet name from which you need your phrase (for example "Default Wallet") and choose "Recovery Phrase". Enter your password to make a proper backup as soon as possible.
If you lost not only your Recovery Phrase but also your phone is broken/lost/stolen/inaccessible or the app was wiped, you cannot restore your Coinomi wallets. The short answer is yes, your funds are lost. 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.
Coinomi also supports protecting wallets with an extra BIP39 passphrase. This is an advanced option that is turned off by default. The BIP39 passphrase is as important as the Recovery Phrase itself. If you enabled it in your wallet, it's only possible to restore with both the full Recovery Phrase and the exact BIP39 passphrase. A single wrong character will prevent you from restoring correctly.
If you lost not only your Recovery Phrase but also your password, you cannot restore your Coinomi wallets. The short answer is yes, your funds are lost. Your only option is to try as many passwords as you can until you find the correct one. Immediately back up your phrase after you remember the password. Tip: the only requirement is a minimum of 10 characters. Coinomi doesn't force you to add numbers, special characters, etc.
We are not a centralized service, this is what makes Coinomi safe. We have no access to your Phrases, passwords, keys or funds, they are always only in your device and are your responsibility. We are also an anonymous wallet. Even if we had control over wallet data, it isn't associated with an email address, phone number or any kind of personal information. There is no way to "prove" you owned certain wallets in order to regain access to them.
Do NOT save your Recovery Phrase as a memo/file/screenshot in the same device as Coinomi, since losing/breaking this device will make you lose the backup as well. Read on how to properly store your backup here.