SmartKem (SMTK) Financial Statements & Analysis

SmartKem Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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SmartKem, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Mar 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Revenue & Gross Profit
Revenue	0.70	0.08	0.08	0.03	0.04	0.02	0.09	-
Cost of Revenue	0.27	0.03	0.03	0.02	0.03	0.01	0.06	0.39
Gross Profit	0.43	0.05	0.05	0.00	0.01	0.01	0.04	-
Operating Expenses
Research & Development	7.02	5.11	4.82	5.14	5.80	7.83	4.32	5.72
Selling, General & Administrative	7.37	6.34	6.64	5.61	5.07	8.44	1.71	1.48
Operating Expenses	13.44	10.44	10.51	10.00	9.70	15.50	4.59	7.20
Operating Income	-13.01	-10.39	-10.46	-9.99	-9.69	-16.30	-4.55	-7.59
Other Income/Expense
Interest Income	0.00	0.01	0.01	0.01	0.01	0.00	0.00	-
Interest Expense	0.07	0.00	-	0.00	0.00	-0.02	-6.84	1.04
Other Income/Expense	2.48	0.06	0.14	1.49	-1.78	-0.02	-6.28	-1.35
Income
Income Before Tax	-10.53	-10.33	-10.33	-8.50	-11.47	-17.13	-23.13	-8.93
Income Tax Expense	-0.02	0.00	0.00	0.00	0.02	0.00	0.00	0.00
Net Income	-10.51	-10.33	-19.55	-8.50	-11.50	-17.13	-23.13	-8.93
Net Income - Continuous Operations	-10.51	-10.33	-10.33	-8.50	-11.50	-17.13	-23.13	-8.93
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-
EBITDA	-10.04	-9.86	-10.13	-9.76	-9.23	-14.76	-4.18	-7.50
EBIT	-10.46	-	-10.39	-9.90	-9.69	-14.97	-4.55	-
Depreciation & Amortization	0.42	0.53	0.26	0.15	0.46	0.21	0.20	0.39
Earnings Per Share
Basic EPS	-64.00	-158.00	-300.00	-316.00	-697.00	-1188.00	-63.00	-12.00
Diluted EPS	-64.00	-158.00	-6.00	-6.00	-697.00	-24.00	-63.00	-12.00
Basic Shares Outstanding	0.16	0.07	0.07	0.03	0.02	0.01	0.37	0.73
Diluted Shares Outstanding	0.16	0.07	0.07	0.03	0.02	0.01	0.37	0.73

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About SmartKem Financial Statements

What was SmartKem's revenue in fiscal 2025?

SmartKem reported revenue of $697.00K in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 750.0% from $82.00K a year earlier.

Is SmartKem profitable?

No. SmartKem reported a net loss of $10.51M in fiscal 2025. In fiscal 2024 it lost $10.33M.

What is SmartKem's operating margin?

SmartKem's operating income was −$13.01M on revenue of $697.00K in fiscal 2025, an operating margin of -1866.9%, compared with -12665.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition