NASDAQ : SMTK
SmartKem, Inc. — Financial statements
Technology · Semiconductor Equipment & Materials · United Kingdom
Last price 0.2776 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 156.92K
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Financial statements
SmartKem, Inc. (SMTK) reported revenue of 662.00K USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 662.00K | 697.00K | 82.00K | 27.00K | 40.00K | 18.00K |
| Cost of Revenue | 247.00K | 272.00K | 32.00K | 23.00K | 33.00K | 8.00K |
| Gross Profit | 415.00K | 425.00K | 50.00K | 4.00K | 7.00K | 10.00K |
| Selling, General & Admin | 5.91M | 7.70M | 6.63M | 5.61M | 5.50M | 8.44M |
| Research & Development | 4.24M | 6.69M | 4.82M | 5.14M | 5.37M | 7.83M |
| Other Operating Expenses | -455.00K | -951.00K | -1.02M | -836.00K | -1.17M | -1.28M |
| Operating Expenses | 55.35M | 13.44M | 10.44M | 9.91M | 9.70M | 14.98M |
| Operating Income | -54.93M | -13.01M | -10.39M | -9.90M | -9.69M | -14.97M |
| Interest Expense | -503.00K | -73.00K | -19.00K | |||
| Interest & Investment Income | 7.00K | 12.00K | 5.00K | 3.00K | ||
| Currency Exchange Gain (Loss) | -950.00K | 2.55M | -622.00K | 1.13M | -1.78M | -808.00K |
| Other Non Operating Income (Expenses) | -15.15M | 672.00K | 267.00K | -1.33M | ||
| EBT Excluding Unusual Items | -71.54M | -10.53M | -10.33M | -8.50M | -11.47M | -17.13M |
| Other Unusual Items | -371.00K | |||||
| Pretax Income | -28.60M | -10.53M | -10.33M | -8.50M | -11.47M | -17.13M |
| Income Tax Expense | 1.00K | -24.00K | 1.00K | 24.00K | ||
| Net Income | -28.60M | -10.51M | -10.33M | -8.50M | -11.49M | -17.13M |
| Preferred Dividends & Other Adjustments | 9.22M | |||||
| Net Income to Common | -28.60M | -10.51M | -19.55M | -8.50M | -11.49M | -17.13M |
| Shares Outstanding (Basic) | 279.48K | 163.13K | 65.20K | 26.90K | 16.56K | 14.42K |
| Shares Outstanding (Diluted) | 279.48K | 163.13K | 65.20K | 26.90K | 16.56K | 14.42K |
| EPS (Basic) | -102.34 | -64.42 | -299.89 | -315.97 | -694.23 | -1,187.74 |
| EPS (Diluted) | -102.38 | -64.50 | -300.00 | -315.97 | -694.23 | -1,187.74 |
| Free Cash Flow | -5.13M | -7.86M | -8.17M | -8.05M | -9.13M | -10.07M |
| Free Cash Flow Per Share | -18.36 | -48.17 | -125.32 | -299.46 | -551.27 | -698.32 |
| Gross Margin | 62.69% | 60.98% | 60.98% | 14.82% | 17.50% | 55.56% |
| Operating Margin | -8,297.89% | -1,866.86% | -12,665.85% | -36,681.48% | -24,235.00% | -83,183.33% |
| Profit Margin | -4,320.39% | -1,507.75% | -23,846.34% | -31,477.78% | -28,737.50% | -95,144.44% |
| Free Cash Flow Margin | -775.08% | -1,127.55% | -9,964.63% | -29,833.33% | -22,820.00% | -55,938.89% |
| EBITDA | -54.77M | -12.80M | -10.13M | -9.76M | -9.50M | -14.76M |
| D&A For EBITDA | 164.00K | 212.00K | 258.00K | 145.00K | 198.00K | 209.00K |
| EBIT | -54.93M | -13.01M | -10.39M | -9.90M | -9.69M | -14.97M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.69M | 374.00K | 7.14M | 8.84M | 4.24M | 12.23M |
| Cash & Short-Term Investments | 3.69M | 374.00K | 7.14M | 8.84M | 4.24M | 12.23M |
| Accounts Receivable | 6.21M | 3.00K | 268.00K | 30.00K | ||
| Other Receivables | 124.00K | 798.00K | 903.00K | 954.00K | 1.35M | 1.12M |
| Receivables | 6.34M | 801.00K | 903.00K | 1.22M | 1.38M | 1.12M |
| Prepaid Expenses | 150.00K | 272.00K | 327.00K | 467.00K | 825.00K | 752.00K |
| Other Current Assets | 180.00K | 54.00K | 138.00K | |||
| Total Current Assets | 10.36M | 1.50M | 8.51M | 10.53M | 6.44M | 14.10M |
| Property, Plant & Equipment | 787.00K | 389.00K | 740.00K | 1.08M | 956.00K | |
| Other Long-Term Assets | 6.00K | 7.00K | 6.00K | 6.00K | ||
| Total Assets | 10.36M | 2.29M | 8.90M | 11.27M | 7.53M | 15.06M |
| Accounts Payable | 380.00K | 4.43M | 843.00K | 355.00K | 250.00K | 510.00K |
| Accrued Expenses | 295.00K | 168.00K | 948.00K | 823.00K | 681.00K | 903.00K |
| Short-Term Debt | 928.00K | |||||
| Current Portion of Leases | 271.00K | 47.00K | 230.00K | 206.00K | 87.00K | |
| Current Income Taxes Payable | 22.00K | |||||
| Current Unearned Revenue | 108.00K | 450.00K | ||||
| Other Current Liabilities | 360.00K | 244.00K | 10.00K | |||
| Total Current Liabilities | 675.00K | 5.91M | 2.29M | 1.77M | 1.40M | 1.51M |
| Long-Term Leases | 312.00K | 25.00K | 19.00K | 239.00K | 28.00K | |
| Other Long-Term Liabilities | 1.37M | |||||
| Total Liabilities | 675.00K | 6.22M | 2.31M | 3.16M | 1.64M | 1.54M |
| Common Stock | 3.00K | 1.00K | 3.00K | |||
| Additional Paid-In Capital | 157.43M | 124.77M | 122.32M | 104.76M | 92.93M | 89.95M |
| Retained Earnings | -147.75M | -125.13M | -114.62M | -95.07M | -86.57M | -75.07M |
| Comprehensive Income & Other | -3.58M | -1.10M | -1.58M | -483.00K | -1.36M | |
| Shareholders' Equity | 9.68M | -3.93M | 6.59M | 8.11M | 5.88M | 13.52M |
| Total Liabilities & Equity | 10.36M | 2.29M | 8.90M | 11.27M | 7.53M | 15.06M |
| Total Debt | 1.51M | 72.00K | 249.00K | 445.00K | 115.00K | |
| Net Cash (Debt) | 3.69M | -1.14M | 7.07M | 8.59M | 3.79M | 12.11M |
| Net Cash Per Share | 13.20 | -6.97 | 108.42 | 319.24 | 228.89 | 839.93 |
| Filing Date Shares Outstanding | 565.27K | 424.06K | 72.40K | 27.11K | 15.45K | 15.18K |
| Total Common Shares Outstanding | 513.65K | 136.79K | 71.80K | 17.79K | 15.42K | 14.60K |
| Working Capital | 9.68M | -4.41M | 6.22M | 8.76M | 5.04M | 12.59M |
| Book Value Per Share | 18.85 | -28.76 | 91.79 | 455.97 | 381.52 | 926.04 |
| Tangible Book Value | 9.68M | -3.93M | 6.59M | 8.11M | 5.88M | 13.52M |
| Tangible Book Value Per Share | 18.85 | -28.76 | 91.79 | 455.97 | 381.52 | 926.04 |
| Machinery | 2.01M | 1.77M | 1.72M | 1.72M | 1.90M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -28.60M | -10.51M | -10.33M | -8.50M | -11.49M | -17.13M |
| Depreciation & Amortization | 368.00K | 417.00K | 526.00K | 408.00K | 462.00K | 443.00K |
| Stock-Based Compensation | 1.88M | 2.30M | 1.10M | 772.00K | 879.00K | 6.46M |
| Other Operating Activities | 16.87M | -2.55M | -25.00K | -1.39M | 1.78M | 808.00K |
| Change in Accounts Receivable | -3.00K | -3.00K | 269.00K | -231.00K | -32.00K | 19.00K |
| Change in Accounts Payable | 1.40M | 2.81M | 504.00K | 459.00K | -385.00K | 579.00K |
| Change in Income Taxes | -23.00K | 22.00K | ||||
| Change in Other Net Operating Assets | 323.00K | -198.00K | -143.00K | 464.00K | -282.00K | -910.00K |
| Operating Cash Flow | -5.01M | -7.74M | -8.10M | -8.04M | -9.05M | -9.73M |
| Capital Expenditures | -123.00K | -123.00K | -75.00K | -18.00K | -79.00K | -341.00K |
| Investing Cash Flow | -7.47M | -123.00K | -75.00K | -18.00K | -79.00K | -341.00K |
| Short-Term Debt Issued | 738.00K | |||||
| Long-Term Debt Issued | 1.00M | |||||
| Total Debt Issued | 3.62M | 1.00M | 738.00K | |||
| Short-Term Debt Repaid | -738.00K | |||||
| Total Debt Repaid | -1.21M | -738.00K | ||||
| Net Debt Issued (Repaid) | 2.41M | 1.00M | ||||
| Issuance of Common Stock | 4.91M | 7.67M | 25.00K | 2.00M | 24.66M | |
| Other Financing Activities | -1.80M | -1.14M | 280.00K | -170.00K | -2.45M | |
| Financing Cash Flow | 14.15M | 1.00M | 6.53M | 12.69M | 1.83M | 22.20M |
| Foreign Exchange Rate Adjustments | 868.00K | 92.00K | -56.00K | -35.00K | -693.00K | -673.00K |
| Net Cash Flow | 2.54M | -6.77M | -1.70M | 4.60M | -7.99M | 11.46M |
| Free Cash Flow | -5.13M | -7.86M | -8.17M | -8.05M | -9.13M | -10.07M |
| Free Cash Flow Margin | -775.08% | -1,127.55% | -9,964.63% | -29,833.33% | -22,820.00% | -55,938.89% |
| Free Cash Flow Per Share | -18.36 | -48.17 | -125.32 | -299.46 | -551.27 | -698.32 |
| Levered Free Cash Flow | -39.57M | -2.88M | -3.91M | -4.17M | -5.36M | -2.86M |
| Unlevered Free Cash Flow | -39.67M | -2.83M | -3.91M | -4.17M | -5.36M | -2.85M |
| Cash Interest Paid | 19.00K | |||||
| Change in Working Capital | 1.72M | 2.61M | 630.00K | 669.00K | -677.00K | -312.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 156.92K | 6.53M | 10.33M | 5.04M | 16.19M | |
| Enterprise Value | -3.53M | 6.30M | 8.74M | -5.87M | 10.36M | |
| Last Close Price | 0.28 | 53.25 | 145.00 | 285.00 | 1,050.00 | |
| PS Ratio | 0.24 | 9.37 | 125.98 | 186.53 | 404.75 | |
| PB Ratio | 0.01 | -1.66 | 1.57 | 0.62 | 2.75 | |
| P/TBV Ratio | 0.02 | 1.57 | 0.62 | 2.75 | ||
| EV/Sales Ratio | 9.04 | 106.62 | 259.00 | |||
| Debt / Equity Ratio | -0.38 | 0.01 | 0.03 | 0.08 | 0.01 | |
| Net Debt / Equity Ratio | -0.38 | -0.29 | -1.07 | -1.06 | -0.64 | -0.90 |
| Net Debt / EBITDA Ratio | 0.07 | -0.09 | 0.70 | 0.88 | 0.40 | 0.82 |
| Net Debt / FCF Ratio | 0.72 | -0.14 | 0.86 | 1.07 | 0.41 | 1.20 |
| Asset Turnover | 0.09 | 0.12 | 0.01 | 0.00 | 0.00 | 0.00 |
| Quick Ratio | 14.85 | 0.20 | 3.52 | 5.69 | 4.00 | 8.84 |
| Current Ratio | 15.34 | 0.25 | 3.72 | 5.95 | 4.59 | 9.34 |
| Return on Equity (ROE) | -598.72% | -791.04% | -140.51% | -121.45% | -118.47% | -222.81% |
| Return on Assets (ROA) | -469.09% | -145.33% | -64.35% | -65.86% | -53.65% | -103.93% |
| Return on Capital Employed (ROCE) | -567.40% | 359.20% | -157.00% | -104.20% | -158.30% | -110.50% |
| Earnings Yield | -36,882.11% | -160.84% | -100.00% | -168.76% | -71.00% | |
| FCF Yield | -3,269.82% | -120.28% | -79.10% | -159.94% | -56.38% | |
| Buyback Yield / Dilution | -124.04% | -150.19% | -142.41% | -62.45% | -14.84% |