SmartKem, Inc.(SMTK)Earnings, Financials & Key Ratios
SMTK•NASDAQ
$0.33
$2M mkt cap·Price updated May 7, 2026
AboutSmartKem, Inc. engages in the development of materials and processes for organic thin-film transistors backplanes for the manufacture of flexible electronics. Its transistor stacks are used in various applications, including bendable smart-phone displays, curved automotive displays, e-paper displays, wearables, fingerprint sensors, and printed biosensors. SmartKem, Inc. was founded in 2009 and is headquartered in Manchester, the United Kingdom.Show more
- Revenue$82K+203.7%
- EBITDA-$10M-3.7%
- Net Income-$10M-21.5%
- EPS (Diluted)-3.17+49.8%
- Gross Margin60.98%+311.6%
- EBITDA Margin-12119.51%+65.9%
- Operating Margin-12760.98%+65.5%
- Net Margin-12597.56%+60.0%
- ROE-140.51%-15.7%
- Debt/Equity0.01-64.4%
SMTK Key Insights
SmartKem, Inc. (SMTK) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Strong 5Y sales CAGR of 72.6%
- ✓Trading at only 0.2x book value
✗Weaknesses
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 5 (bottom 5%)
- ✗Shares diluted 100.0% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
SMTK Price & Volume
SmartKem, Inc. (SMTK) stock price & volume — 10-year historical chart
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SMTK Growth Metrics
SmartKem, Inc. (SMTK) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years72.58%
3 Years65.77%
TTM345%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-23.32%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM185.4%
Return on Capital
10 Years-156.67%
5 Years-144.2%
3 Years-118.77%
Last Year-129.83%
SMTK Peer Comparison
SmartKem, Inc. (SMTK) competitors in Semiconductor Materials and Fab Consumables — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CBAT | 70.4M | 0.79 | 6.04 | -13.61% | -4.03% | -5.5% | 0.25 | |
 OLED | 4.37B | 92.74 | 18.26 | 0.45% | 34.08% | 12.33% | 0.02 | |
 KOPN | 755.23M | 4.82 | -14.61 | 24.61% | -13.48% | -30.23% | 0.09 | |
 CODA | 134.12M | 11.90 | 32.16 | 30.75% | 14.78% | 7.17% | 0.01 | |
 FLEX | 48.92B | 133.05 | 63.05 | -2.28% | 3.17% | 16.83% | 0.83 | |
 PXLW | 35.55M | 5.61 | -3.74 | -98.4% | -11.9% | -33.93% | 0.04 | |
 VVPR | 50.87M | 3.03 | -1.58 | 281.25% | -10.04% | -63.63% | 1.45 | |
 AMAT | 325.54B | 410.52 | 47.40 | 4.39% | 24.67% | 34.28% | 0.32 |
Compare SMTK vs Peers
SmartKem, Inc. (SMTK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SMTK Income Statement
SmartKem, Inc. (SMTK) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 5.36K | 94K | 18K | 40K | 27K | 82K | 178K |
| Revenue Growth % | - | 1654.71% | -80.85% | 122.22% | -32.5% | 203.7% | 345% |
| Cost of Goods Sold | 392.98K | 55K | 8K | 33K | 23K | 32K | 289K |
| COGS % of Revenue | 7335.8% | 58.51% | 44.44% | 82.5% | 85.19% | 39.02% | - |
| Gross Profit | -387.62K▲ 0% | 39K▲ 110.1% | 10K▼ 74.4% | 7K▼ 30.0% | 4K▼ 42.9% | 50K▲ 1150.0% | -111K▲ 0% |
| Gross Margin % | -7235.8% | 41.49% | 55.56% | 17.5% | 14.81% | 60.98% | -62.36% |
| Gross Profit Growth % | - | 110.06% | -74.36% | -30% | -42.86% | 1150% | - |
| Operating Expenses | 7.2M | 4.59M | 14.98M | 9.71M | 9.99M | 10.51M | 10.25M |
| OpEx % of Revenue | 134419.34% | 4881.91% | 83238.89% | 24262.5% | 37018.52% | 12821.95% | - |
| Selling, General & Admin | 1.48M | 1.71M | 8.07M | 5.07M | 5.19M | 6.34M | 7.12M |
| SG&A % of Revenue | 27632.14% | 1815.96% | 44827.78% | 12677.5% | 19214.81% | 7734.15% | - |
| Research & Development | 5.72M | 4.32M | 8.2M | 5.8M | 5.56M | 5.11M | 7.03M |
| R&D % of Revenue | 106787.19% | 4594.68% | 45550% | 14505% | 20577.78% | 6232.93% | - |
| Other Operating Expenses | 0 | -1.44M | -1.28M | -1.17M | -749K | -939K | -1.41M |
| Operating Income | -7.59M▲ 0% | -4.55M▲ 40.0% | -14.97M▼ 229.1% | -9.7M▲ 35.2% | -9.99M▼ 3.0% | -10.46M▼ 4.7% | -10.36M▲ 0% |
| Operating Margin % | -141655.22% | -4840.43% | -83183.33% | -24245% | -37003.7% | -12760.98% | -5822.47% |
| Operating Income Growth % | - | 40.04% | -229.08% | 35.23% | -3.02% | -4.73% | - |
| EBITDA | -7.2M | -4.18M | -14.53M | -9.24M | -9.58M | -9.94M | -9.88M |
| EBITDA Margin % | -134395.15% | -4443.62% | -80722.22% | -23090% | -35492.59% | -12119.51% | -5550.56% |
| EBITDA Growth % | - | 41.98% | -247.86% | 36.44% | -3.76% | -3.7% | 7.04% |
| D&A (Non-Cash Add-back) | 388.92K | 373K | 443K | 462K | 408K | 526K | 484K |
| EBIT | -7.89M | -16.3M | -17.11M | -9.69M | -9.9M | -10.39M | -13.27M |
| Net Interest Income | -1.04M | -6.83M | -16K | 5K | 12K | 7K | 12K |
| Interest Income | 5.37K | 3K | 3K | 5K | 12K | 7K | 13K |
| Interest Expense | 1.04M | 6.83M | 19K | 0 | 0 | 0 | 1K |
| Other Income/Expense | -1.35M | -18.58M | -2.15M | -1.78M | 1.49M | 135K | -807K |
| Pretax Income | -8.93M▲ 0% | -23.13M▼ 158.9% | -17.13M▲ 26.0% | -11.47M▲ 33.0% | -8.5M▲ 25.9% | -10.33M▼ 21.5% | -11.17M▲ 0% |
| Pretax Margin % | -166762.74% | -24609.57% | -95144.44% | -28677.5% | -31477.78% | -12596.34% | -6275.84% |
| Income Tax | 0 | 0 | 0 | 24K | 0 | 1K | -24K |
| Effective Tax Rate % | 0% | 0% | 0% | -0.21% | 0% | -0.01% | 0.21% |
| Net Income | -8.93M▲ 0% | -23.13M▼ 158.9% | -17.14M▲ 25.9% | -11.49M▲ 33.0% | -8.5M▲ 26.1% | -10.33M▼ 21.5% | -11.15M▲ 0% |
| Net Margin % | -166762.74% | -24609.57% | -95250% | -28737.5% | -31477.78% | -12597.56% | -6262.36% |
| Net Income Growth % | - | -158.95% | 25.89% | 32.95% | 26.06% | -21.54% | -23.32% |
| Net Income (Continuing) | -8.93M | -23.13M | -17.13M | -11.49M | -8.5M | -10.33M | -11.15M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -12.29▲ 0% | -33.71▼ 174.3% | -23.78▲ 29.5% | -13.94▲ 41.4% | -6.32▲ 54.7% | -3.17▲ 49.8% | -1.27▲ 0% |
| EPS Growth % | - | -174.29% | 29.46% | 41.38% | 54.66% | 49.84% | 185.4% |
| EPS (Basic) | -12.29 | -33.71 | -23.78 | -13.94 | -6.32 | -3.17 | - |
| Diluted Shares Outstanding | 726.77K | 726.77K | 720.95K | 824.62K | 1.34M | 3.26M | 8.78M |
| Basic Shares Outstanding | 726.77K | 726.77K | 720.95K | 824.62K | 1.34M | 3.26M | 8.78M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
SMTK Balance Sheet
SmartKem, Inc. (SMTK) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 2.11M | 2.02M | 14.1M | 6.44M | 10.53M | 8.51M | 2.22M |
| Cash & Short-Term Investments | 411.94K | 763.81K | 12.23M | 4.24M | 8.84M | 7.14M | 881K |
| Cash Only | 411.94K | 763.81K | 12.23M | 4.24M | 8.84M | 7.14M | 881K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.61M | 1.1M | 1.12M | 1.35M | 1.14M | 903K | 514K |
| Days Sales Outstanding | 109.65K | 4.27K | 22.71K | 12.28K | 15.44K | 4.02K | 1.99K |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 36K | 80K | 0 | 358K |
| Total Non-Current Assets | 2.55M | 926.86K | 962K | 1.08M | 747K | 395K | 1.03M |
| Property, Plant & Equipment | 1.13M | 918.45K | 956K | 1.08M | 740K | 389K | 884K |
| Fixed Asset Turnover | 0.00x | 0.10x | 0.02x | 0.04x | 0.04x | 0.21x | 0.30x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.41M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 6.12K | 8.41K | 6K | 6K | 7K | 6K | 435K |
| Total Assets | 4.66M▲ 0% | 2.95M▼ 36.7% | 15.06M▲ 410.6% | 7.53M▼ 50.0% | 11.27M▲ 49.8% | 8.9M▼ 21.0% | 3.25M▲ 0% |
| Asset Turnover | 0.00x | 0.03x | 0.00x | 0.01x | 0.00x | 0.01x | 0.03x |
| Asset Growth % | - | -36.7% | 410.57% | -50.03% | 49.79% | -21.01% | -124.38% |
| Total Current Liabilities | 1.2M | 1.08M | 1.51M | 1.4M | 1.77M | 2.29M | 5.82M |
| Accounts Payable | 273.3K | 226.85K | 510K | 230K | 355K | 843K | 4.03M |
| Days Payables Outstanding | 253.84 | 1.51K | 23.27K | 2.54K | 5.63K | 9.62K | 2.41K |
| Short-Term Debt | 150.99K | 223.62K | 97K | 226K | 230K | 47K | 274K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 656.11K | 500.59K | 520K | 714K | 808K | 450K | 1.1M |
| Current Ratio | 1.77x | 1.88x | 9.34x | 4.59x | 5.95x | 3.72x | 3.72x |
| Quick Ratio | 1.77x | 1.88x | 9.34x | 4.59x | 5.95x | 3.72x | 3.72x |
| Cash Conversion Cycle | - | - | - | - | - | - | -423.83 |
| Total Non-Current Liabilities | 8.55M | 20.48K | 28K | 239K | 1.39M | 25K | 376K |
| Long-Term Debt | 8.31M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 234.23K | 20.48K | 28K | 239K | 19K | 25K | 843K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 1.37M | 0 | 0 |
| Total Liabilities | 9.74M | 1.1M | 1.54M | 1.64M | 3.16M | 2.31M | 6.2M |
| Total Debt | 8.7M | 244.1K | 125K | 465K | 249K | 72K | 650K |
| Net Debt | 8.29M | -519.72K | -12.1M | -3.77M | -8.59M | -7.07M | -231K |
| Debt / Equity | - | 0.13x | 0.01x | 0.08x | 0.03x | 0.01x | 0.01x |
| Debt / EBITDA | - | - | - | - | - | - | -0.07x |
| Net Debt / EBITDA | - | - | - | - | - | - | 0.02x |
| Interest Coverage | -7.28x | -0.67x | -788.05x | - | - | - | -13274.00x |
| Total Equity | -5.08M▲ 0% | 1.85M▲ 136.4% | 13.52M▲ 630.4% | 5.88M▼ 56.5% | 8.11M▲ 37.9% | 6.59M▼ 18.8% | -2.95M▲ 0% |
| Equity Growth % | - | 136.42% | 630.43% | -56.49% | 37.91% | -18.76% | -393.23% |
| Book Value per Share | -6.99 | 2.55 | 18.76 | 7.13 | 6.03 | 2.02 | -0.34 |
| Total Shareholders' Equity | -5.08M | 1.85M | 13.52M | 5.88M | 8.11M | 6.59M | -2.95M |
| Common Stock | 2.92K | 16.17K | 3K | 3K | 0 | 0 | 0 |
| Retained Earnings | -34.81M | -57.95M | -75.07M | -86.57M | -95.07M | -114.62M | -123.07M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.2M | -1.48M | -1.36M | -483K | -1.58M | -1.1M | -3.37M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SMTK Cash Flow Statement
SmartKem, Inc. (SMTK) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -6.53M | -4.08M | -10.54M | -9.05M | -8.04M | -8.1M | -8.1M |
| Operating CF Margin % | -121988.78% | -4342.55% | -58533.33% | -22622.5% | -29766.67% | -9873.17% | - |
| Operating CF Growth % | - | 37.54% | -158.11% | 14.11% | 11.18% | -0.73% | 34.45% |
| Net Income | -8.93M | -23.13M | -17.13M | -11.49M | -8.5M | -10.33M | -11.15M |
| Depreciation & Amortization | 388.92K | 373K | 443K | 462K | 408K | 526K | 484K |
| Stock-Based Compensation | 0 | 0 | 6.2M | 488K | 717K | 850K | 768K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 2.1M | 18.59M | 263K | 2.17M | -1.33M | 228K | -1.39M |
| Working Capital Changes | -92.83K | 91K | -312K | -677K | 669K | 630K | 3.89M |
| Change in Receivables | -261.92K | -17K | 19K | -32K | 331K | 269K | 742.67K |
| Change in Inventory | 0 | 213.69K | -579K | 0 | 0 | 0 | 0 |
| Change in Payables | 30.14K | -213.69K | 579K | -385K | 459K | 504K | 3.38M |
| Cash from Investing | -570.77K | -118K | -341K | -79K | -18K | -75K | -107.75K |
| Capital Expenditures | -570.77K | -118K | -341K | -79K | -18K | -75K | -106.53K |
| CapEx % of Revenue | 10654.62% | 125.53% | 1894.44% | 197.5% | 66.67% | 91.46% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | -1.22K |
| Cash from Financing | 3.66M | 4.59M | 22.2M | 1.83M | 12.69M | 6.53M | 6.53M |
| Debt Issued (Net) | 3.66M | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | -2.43M | -170K | 305K | -1.12M | -19.22K |
| Net Change in Cash | 411.94K▲ 0% | 352K▼ 14.5% | 11.46M▲ 3156.3% | -7.99M▼ 169.7% | 4.6M▲ 157.6% | -1.7M▼ 136.8% | -902K▲ 0% |
| Free Cash Flow | -7.11M▲ 0% | -4.2M▲ 40.9% | -10.88M▼ 159.0% | -9.13M▲ 16.1% | -8.05M▲ 11.8% | -8.17M▼ 1.4% | -7.5M▲ 0% |
| FCF Margin % | -132643.46% | -4468.09% | -60427.78% | -22820% | -29833.33% | -9964.63% | -4211.86% |
| FCF Growth % | - | 40.89% | -158.98% | 16.08% | 11.76% | -1.44% | 19.99% |
| FCF per Share | -9.78 | -5.78 | -15.09 | -11.07 | -5.99 | -2.51 | -2.51 |
| FCF Conversion (FCF/Net Income) | 0.73x | 0.18x | 0.61x | 0.79x | 0.95x | 0.78x | 0.67x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SMTK Key Ratios
SmartKem, Inc. (SMTK) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -1249.59% | -223.05% | -118.47% | -121.45% | -140.51% | -610.88% |
| Return on Invested Capital (ROIC) | -150.48% | -815.96% | -411.63% | -914.37% | - | 718.89% |
| Gross Margin | 41.49% | 55.56% | 17.5% | 14.81% | 60.98% | -62.36% |
| Net Margin | -24609.57% | -95250% | -28737.5% | -31477.78% | -12597.56% | -6262.36% |
| Debt / Equity | 0.13x | 0.01x | 0.08x | 0.03x | 0.01x | 0.01x |
| Interest Coverage | -0.67x | -788.05x | - | - | - | -13274.00x |
| FCF Conversion | 0.18x | 0.61x | 0.79x | 0.95x | 0.78x | 0.67x |
| Revenue Growth | 1654.71% | -80.85% | 122.22% | -32.5% | 203.7% | 345% |
SMTK Frequently Asked Questions
SmartKem, Inc. (SMTK) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
SmartKem, Inc. (SMTK) reported $0.2M in revenue for fiscal year 2024. This represents a 3223% increase from $0.0M in 2019.
SmartKem, Inc. (SMTK) grew revenue by 203.7% over the past year. This is strong growth.
SmartKem, Inc. (SMTK) reported a net loss of $11.1M for fiscal year 2024.
Dividend & Returns
SmartKem, Inc. (SMTK) has a return on equity (ROE) of -140.5%. Negative ROE indicates the company is unprofitable.
SmartKem, Inc. (SMTK) had negative free cash flow of $7.5M in fiscal year 2024, likely due to heavy capital investments.
Explore More SMTK
SmartKem, Inc. (SMTK) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
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Dividend History
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Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates