Revenue generation remains largely theoretical with only $10,000 recorded over ten quarters, while late 2024 operations yielded a negative gross margin of -120%.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|
| Sales/Revenue | 10K | 10K | 0 | 0 | 0 | 0 | 0 | 49.12K | 410.29K | 318.46K | 314.32K | 0 | 0 | 245.72K | 395.69K | 356.26K | 97.15K | 0 |
| Revenue Growth % | - | - | - | - | - | - | -100% | -88.03% | 28.83% | 1.32% | - | - | -100% | -37.9% | 11.07% | 266.71% | - | - |
| Cost of Goods Sold | 22K | 22K | 450.83K | 382.5K | 680.47K | 214.49K | 20.06K | 70.36K | 70.78K | 225.39K | 112.46K | 0 | 0 | 950.23K | 2.68M | 2.56M | 173.44K | 0 |
| COGS % of Revenue | - | 220% | - | - | - | - | - | 143.24% | 17.25% | 70.78% | 35.78% | - | - | 386.71% | 678.35% | 718.75% | 178.53% | - |
| Gross Profit | -12K | -12K | -450.83K | -382.5K | -680.47K | -214.49K | -20.06K | -21.24K | 339.51K | 93.07K | 201.86K | 0 | 0 | -704.51K | -2.29M | -2.2M | -76.29K | 0 |
| Gross Margin % | -120% | -120% | - | - | - | - | - | -43.24% | 82.75% | 29.22% | 64.22% | - | - | -286.71% | -578.35% | -618.75% | -78.53% | - |
| Gross Profit Growth % | - | 97.34% | -17.87% | 43.79% | -217.24% | -969.05% | 5.54% | -106.26% | 264.79% | -53.89% | - | - | 100% | 69.22% | -3.82% | -2789.32% | - | - |
| Operating Expenses | 657K | 8.46M | 13.69M | 16.65M | 16.56M | 18.32M | 875.59K | 703.1K | 849.64K | 439.09K | 327.13K | 115.56K | 474.66K | 2.96M | 8.14M | 7.77M | 4.95M | 5.52M |
| OpEx % of Revenue | - | 84640% | - | - | - | - | - | 1431.35% | 207.08% | 137.88% | 104.07% | - | - | 1206.32% | 2058.03% | 2180.38% | 5092.4% | - |
| Selling, General & Admin | 4.51M | 4.95M | 6.91M | 9.15M | 9.19M | 15.63M | 816.1K | 665.66K | 762.17K | 362.66K | 287.68K | 115.56K | 474.66K | 2.15M | 4.25M | 4.04M | 1.65M | 804.79K |
| SG&A % of Revenue | - | 49460% | - | - | - | - | - | 1355.14% | 185.76% | 113.88% | 91.52% | - | - | 874.84% | 1073.77% | 1133.47% | 1701.36% | - |
| Research & Development | 3.04M | 3.52M | 6.78M | 9.8M | 7.59M | 2.49M | 166.54K | 0 | 0 | 0 | 0 | 0 | 0 | 766.34K | 4.05M | 3.97M | 3.48M | 3.87M |
| R&D % of Revenue | - | 35180% | - | - | - | - | - | - | - | - | - | - | - | 311.87% | 1022.31% | 1115.51% | 3585.06% | - |
| Other Operating Expenses | -2M | 0 | 0 | -2.3M | -217.55K | 205K | -107.05K | 37.44K | -35.86K | -42.46K | -5.66K | 0 | 1.15K | 1.56M | 0 | 0 | 0 | 843.91K |
| Operating Income | -669K | -8.48M | -14.14M | -17.03M | -17.23M | -18.54M | -2.33M | -1.43M | -1.06M | -261.27K | -182.39K | -115.56K | -41.06K | -3.52M | -12.4M | -9.97M | -5.02M | -5.52M |
| Operating Margin % | -6690% | -84760% | - | - | - | - | - | -2911.9% | -257.22% | -82.04% | -58.03% | - | - | -1433.77% | -3133% | -2799.13% | -5170.93% | - |
| Operating Income Growth % | - | 40.06% | 16.97% | 1.17% | 7.06% | -695.88% | -62.87% | -35.53% | -303.93% | -43.25% | -57.83% | -181.44% | 98.83% | 71.58% | -24.32% | -98.51% | 9.04% | - |
| EBITDA | 51K | -8.01M | -13.69M | -16.65M | -16.55M | -18.47M | -2.31M | -1.42M | -1.03M | -245.38K | -174.71K | -115.56K | -38.19K | -3.27M | -12.08M | -9.79M | -4.92M | -5.32M |
| EBITDA Margin % | 509.98% | -80090% | - | - | - | - | - | -2886.99% | -250.58% | -77.05% | -55.58% | - | - | -1332.25% | -3053.98% | -2746.76% | -5064.41% | - |
| EBITDA Growth % | 100.69% | 41.5% | 17.77% | -0.59% | 10.41% | -699.89% | -62.86% | -37.93% | -318.99% | -40.45% | -51.18% | -202.6% | 98.83% | 72.91% | -23.49% | -98.89% | 7.44% | - |
| D&A (Non-Cash Add-back) | 720K | 467K | 450.83K | 382.5K | 680.47K | 67K | 20.06K | 12.24K | 27.25K | 15.89K | 7.68K | 0 | 2.87K | 249.47K | 312.66K | 186.58K | 103.48K | 207.47K |
| EBIT | -7.75M | -8.48M | -14.14M | -26.11M | -18.01M | -18.65M | -423.37K | -1.43M | -929.91K | 773.67K | -498.51K | -974.34K | -49.87K | -3.76M | -12.65M | -9.4M | -5.02M | 291.51K |
| Net Interest Income | -279K | -45K | -1.37M | -201K | -19.98K | -7.99K | 3.46K | 0 | -62.44K | -29.38K | -32.79K | -9.76K | -22.97K | -266.87K | -314.77K | -637.83K | 22.97K | -66.6K |
| Interest Income | 0 | 0 | 0 | 85K | 20 | 8 | 4.33K | 0 | -1.15K | 59 | -11.27K | -514 | 574 | 16.33K | 1.84K | 80.89K | 64.15K | 273.55K |
| Interest Expense | 279K | 45.21K | 1.37M | 286K | 20K | 8K | 866 | 0 | 61.28K | 25.48K | 21.52K | 9.24K | 124.05K | 30.78K | 405.15K | 643.18K | 124.87K | 340.15K |
| Other Income/Expense | -7.36M | -45K | -1.37M | 2.56M | -790.55K | 17K | -2.37K | 132.73K | -481.07K | 1.1M | -394.76K | -9.24K | 1.5M | -269.81K | -1.11M | -2.35M | 169.36K | 2.1M |
| Pretax Income | -8.03M | -8.52M | -15.51M | -14.53M | -18.02M | -18.52M | -3.36M | -1.46M | -991.2K | 754.69K | -520.02K | -124.81K | -67.19K | -3.79M | -14.3M | -12.37M | -4.96M | -3.42M |
| Pretax Margin % | -80300% | -85210% | - | - | - | - | - | -2966.49% | -241.59% | 236.98% | -165.44% | - | - | -1543.57% | -3614.67% | -3473.02% | -5104.63% | - |
| Income Tax | 0 | 0 | 0 | 10.78M | 20K | 0 | -229.29K | 129.57K | 109.62K | 134.14K | 106.57K | -30.05K | 125.2K | 0 | 1.34M | 2.07M | -156.81K | -2.87M |
| Effective Tax Rate % | 0% | 0% | 0% | -74.2% | -0.11% | 0% | 6.83% | -8.89% | -11.06% | 17.77% | -20.49% | 24.07% | -186.32% | 0% | -9.36% | -16.73% | 3.16% | 83.86% |
| Net Income | -8.03M | -8.52M | -16.86M | -21.77M | -18.04M | -18.53M | -3.13M | -1.59M | -1.1M | 620.55K | -626.59K | -124.81K | -67.19K | -3.79M | -11.77M | -12.04M | -4.87M | -2.65M |
| Net Margin % | -80300% | -85210% | - | - | - | - | - | -3230.28% | -268.3% | 194.86% | -199.35% | - | - | -1543.57% | -2974.83% | -3380.22% | -5009.52% | - |
| Net Income Growth % | 37.47% | 49.47% | 22.55% | -20.68% | 2.64% | -492.22% | -97.21% | -44.14% | -277.39% | 199.04% | -402.04% | -85.75% | 98.23% | 67.78% | 2.25% | -147.44% | -83.4% | - |
| Net Income (Continuing) | -8.03M | -8.52M | -15.51M | -14.48M | -18.03M | -18.52M | -424.37K | -727.35K | -1.1M | 614.05K | -583.49K | -87.22K | -64.83K | -3.79M | -12.67M | -10.67M | -5.02M | -3.72M |
| Discontinued Operations | 0 | 0 | -906.66K | -7.33M | -18.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 829.76K | 155.49K | 240.51K |
| EPS (Diluted) | -7.37 | -100.00 | -330.00 | -550.00 | -165.00 | -1540.00 | -110.00 | -531.76 | -430.00 | 260.00 | -245.00 | -230.00 | -125.00 | -16520.00 | -75165.00 | -91480.00 | -53145.00 | -31785.00 |
| EPS Growth % | 73.39% | 69.7% | 40% | -233.33% | 89.29% | -1300% | 79.31% | -23.67% | -265.38% | 206.12% | -6.52% | -84% | 99.24% | 78.02% | 17.83% | -72.13% | -67.2% | - |
| EPS (Basic) | - | -100.00 | -330.00 | -550.00 | -165.00 | -1540.00 | -110.00 | -531.76 | -430.00 | 260.00 | -245.00 | -230.00 | -125.00 | -16520.00 | -75165.00 | -91480.00 | -53145.00 | -31785.00 |
| Diluted Shares Outstanding | 1.09M | 83.53K | 47.33K | 27.18K | 23.19K | 12.02K | 3.9K | 2.98K | 2.55K | 2.36K | 2.57K | 544 | 542 | 229 | 156 | 131 | 91 | 83 |
| Basic Shares Outstanding | 1.09M | 83.53K | 51.34K | 40.88K | 23.19K | 12.02K | 3.9K | 2.98K | 2.55K | 2.36K | 2.57K | 544 | 542 | 229 | 156 | 131 | 91 | 83 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and dilution
As reported in financial statements, STKH has generated only $10,000 in total revenue over the trailing ten quarters, indicating that the company remains in a pre-commercial phase where top-line growth is non-existent and entirely dependent on sporadic, non-recurring pilot project activity rather than sustainable commercial operations.
The absence of consistent revenue streams suggests that the company has yet to validate its business model with industrial partners. Investors should monitor whether the recent pivot to a B2B licensing framework can catalyze actual contract wins, as current figures provide no evidence of market traction.
Based on the company's reported figures, STKH maintains a high fixed-cost structure with quarterly R&D and SG&A expenses consistently exceeding $1.5 million, which dwarfs the nominal revenue generated and highlights a significant disconnect between operational spending and the company's current stage of commercial development.
The persistent level of R&D spending suggests management is prioritizing technological development over immediate cost discipline. This structure implies that the company will likely require continuous external funding until it can successfully transition to a licensing model that offloads production-related capital expenditures.
According to recent SEC filings, STKH reported a gross margin of -120% in late 2024, a figure that underscores the extreme inefficiency of current pilot-scale operations where the direct costs of production significantly exceed the value of the limited output produced by the company's bioprinting technology.
These deeply negative margins appear to be a function of low-volume production and high input costs for specialized growth media. A meaningful improvement in profitability may only be possible if the company successfully scales its technology to a level where economies of scale can be realized.
As indicated by the company's financial history, the reliance on dilutive equity financing to cover recurring multi-million dollar losses suggests a precarious financial position that may leave shareholders vulnerable to significant value erosion if the company fails to secure a major commercial partnership in the near term.
The current burn rate relative to the reported cash position warrants further investigation into the company's remaining runway. Without a clear path to revenue, the market may continue to view the equity as a distressed asset rather than a viable participant in the alternative protein sector.
Quick answers to the most common questions about buying STKH stock.
For fiscal year 2024, Steakholder Foods Ltd. (STKH) reported total revenue of $0.0M.
Steakholder Foods Ltd. (STKH) reported a net loss of $8.5M for the fiscal year ending 2024.
Steakholder Foods Ltd. (STKH) reported an operating income of $-8.5M, resulting in an operating profit margin of -84760.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Steakholder Foods Ltd. (STKH) generated $-0.0M in gross profit for the year, representing a gross profit margin of -120.0%. This demonstrates the company's core pricing power and production efficiency.