SmartKem, Inc. — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that SmartKem, Inc. filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $697.0K | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | $82.0K | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | $27.0K | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $40.0K | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | $18.0K | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | $94.0K | Aug 23, 2022 |
Gross Profit
Revenue minus the cost of goods sold (COGS). Gross profit shows how much revenue remains to cover operating expenses, R&D, and administrative costs before calculating operating income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $425.0K | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | $50.0K | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | $4.0K | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $7.0K | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | $10.0K | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | $39.0K | Aug 23, 2022 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($10.51M) | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | ($10.33M) | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | ($8.50M) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | ($11.50M) | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | ($17.13M) | Mar 30, 2023 |
| FY2020 | Dec 31, 2020 | ($21.1K) | Feb 19, 2021 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($12.84M) | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | ($10.46M) | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | ($9.99M) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | ($9.69M) | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | ($16.30M) | Mar 30, 2023 |
| FY2020 | Dec 31, 2020 | ($21.1K) | Feb 19, 2021 |
R&D Expense
Spending on research and development activities — developing new products, improving existing ones, or conducting basic research. High R&D relative to revenue is common in technology and pharmaceutical companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $7.02M | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | $5.11M | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | $5.56M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $5.80M | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | $8.20M | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | $4.32M | Aug 23, 2022 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $7.37M | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | $6.34M | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | $5.19M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $5.07M | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | $8.07M | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | $1.71M | Aug 23, 2022 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($7.74M) | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | ($8.10M) | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | ($8.04M) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | ($9.05M) | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | ($9.73M) | Mar 30, 2023 |
| FY2020 | Dec 31, 2020 | ($11.6K) | Feb 19, 2021 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $123.0K | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | $75.0K | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | $18.0K | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $79.0K | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | $341.0K | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | $118.0K | Aug 23, 2022 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $2.29M | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | $8.90M | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | $11.27M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $7.53M | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | $15.06M | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | $2.95M | Aug 23, 2022 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $6.22M | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | $2.31M | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | $3.16M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $1.64M | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | $1.54M | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | $1.10M | Aug 23, 2022 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($3.93M) | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | $6.59M | Apr 8, 2026 |
| FY2025 | Dec 31, 2023 | $8.11M | Apr 8, 2026 |
| FY2024 | Dec 31, 2022 | $5.88M | Mar 31, 2025 |
| FY2023 | Dec 31, 2021 | $13.52M | Mar 27, 2024 |
| FY2022 | Dec 31, 2020 | $1.85M | Mar 30, 2023 |
| FY2021 | Dec 31, 2019 | ($5.08M) | Aug 23, 2022 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($125.13M) | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | ($114.62M) | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | ($95.07M) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | ($86.57M) | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | ($75.07M) | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | ($57.95M) | Aug 23, 2022 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $374.0K | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | $7.14M | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | $8.84M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $4.24M | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | $12.23M | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | $764.0K | Aug 23, 2022 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (1) | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | (3) | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | (6) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | (13) | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | 0 | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | (1) | Aug 23, 2022 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (1) | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | (6) | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | (6) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | (13) | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | 0 | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | (1) | Aug 23, 2022 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 6.84M | Apr 8, 2026 |
| FY2025 | Dec 31, 2024 | 3.59M | Apr 8, 2026 |
| FY2024 | Dec 31, 2023 | 889,668 | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | 771,054 | Mar 27, 2024 |
| FY2022 | Dec 31, 2021 | 25.55M | Mar 30, 2023 |
| FY2021 | Dec 31, 2020 | 13.63M | Aug 23, 2022 |