SmartKem, Inc. (SMTK)
SmartKem, Inc. focuses on developing innovative materials and processes essential for organic thin-film transistor (OTFT) backplanes, which are crucial components in the production of flexible electronic devices. Their advanced transistor technology finds application in a diverse range of products. This includes bendable smartphone screens, curved displays for vehicles, e-paper, wearable gadgets, and specialized sensors like fingerprint and printed biosensors. The company was established in 2009 and is headquartered in Manchester, United Kingdom.
Sector: Semiconductors & Related Devices
Industry: Semiconductors
SmartKem, Inc.
NASDAQ:SMTKTechnology · Semiconductors
AHAfter hours-1.99%$0.2900
Prev close$0.3260-9.23%Close$0.2959-1.99%Now$0.2900
Close$0.2959-9.23%
Mkt Cap$306K
Float1.04M
O/S1.04M
VOL207K sh
$ Vol$60K
RVOL0.23×
Inst Own2.9%
Dilution
Financials Summary
Revenue$697K
Net Income-$10.51M
Total Assets$2.29M
Free Cash Flow-$7.86M
Debt & Equity
Total Debt$1.51M
Total Equity-$3.93M
Shares Outstanding
Short Interest
Split History2 splits · 2 reverse
2-year cumulative
1:50
Nasdaq bars a compliance period at 1:250
- 1:50Reverse splitAug 21, 202650 shares → 1
- 1:35Reverse splitSep 21, 202335 shares → 1
Balance Sheet Details
Assets$2.29M
Liabilities$6.22M
Accounts Receivable$552K
Accounts Payable$4.43M
Inventory$0
PP&E (Net)$180K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Currency | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Revenue | $697K | $82K | $27K | $40K |
| YoY Growth | 750.0% | 203.7% | -32.5% | - |
| Cost of Revenue | $272K | $32K | $23K | $33K |
| Gross Profit | $425K | $50K | $4K | $7K |
| Gross Margin | 61.0% | 61.0% | 14.8% | 17.5% |
| Research and Development | $7.02M | $5.11M | $5.56M | $5.8M |
| Selling, General, and Administrative | $7.37M | $6.34M | $5.19M | $5.07M |
| Other | -$951K | -$1.02M | -$836K | -$1.17M |
| Total Operating Expenses | $13.44M | $10.44M | $9.91M | $9.7M |
| Operating Income (EBIT) | -$13.01M | -$10.39M | -$9.9M | -$9.69M |
| Operating Margin | -1866.9% | -12665.9% | -36681.5% | -24235.0% |
| Interest Expense | $73K | $0 | $0 | $0 |
| Interest Income | $0 | $7K | $12K | $5K |
| Other Income (Expense) | $2.48M | $57K | $1.41M | -$1.78M |
| Income Before Tax (EBT) | -$10.53M | -$10.33M | -$8.5M | -$11.47M |
| Income Tax Expense | -$24K | $1K | $0 | $24K |
| Net Income | -$10.51M | -$10.33M | -$8.5M | -$11.49M |
| Net Income Margin | -1507.7% | -12597.6% | -31477.8% | -28737.5% |
| Supplementary Data | ||||
| EPS | -64.50 | -158.50 | -316.00 | -697.00 |
| Diluted EPS | -64.50 | -158.50 | -316.00 | -697.00 |
| Weighted Average OS | 163,133 | 65,203 | 26,898 | 16,492 |
| EBITDA | -$10.04M | -$9.86M | -$9.5M | -$9.23M |
| EBITDA Margin | -1440.9% | -12024.4% | -35170.4% | -23080.0% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Currency | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Assets | ||||
| Current Assets | ||||
| Cash and Cash Equivalents | $374K | $7.14M | $8.84M | $4.24M |
| Short-Term Investments | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $374K | $7.14M | $8.84M | $4.24M |
| Accounts Receivable | $552K | $903K | $1.14M | $1.35M |
| Inventory | $0 | $0 | $0 | $0 |
| Other Current Assets | $575K | $0 | $80K | $36K |
| Total Current Assets | $1.5M | $8.51M | $10.53M | $6.44M |
| Long-Term Assets | ||||
| Property, Plant & Equipment Net | $180K | $389K | $740K | $1.08M |
| Goodwill | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $607K | $6K | $7K | $6K |
| Total Long-Term Assets | $787K | $395K | $747K | $1.08M |
| Other Assets | $0 | $0 | $0 | $0 |
| Total Assets | $2.29M | $8.9M | $11.27M | $7.53M |
| Liabilities | ||||
| Current Liabilities | ||||
| Accounts Payable | $4.43M | $843K | $355K | $230K |
| Short-Term Debt | $928K | $47K | $230K | $226K |
| Current Income Tax Payable | $0 | $287K | $0 | $22K |
| Current Unearned Revenue | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $108K | $450K | $808K | $714K |
| Total Current Liabilities | $5.91M | $2.29M | $1.77M | $1.4M |
| Long-Term Liabilities | ||||
| Long-Term Debt | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $1.37M | $0 |
| Total Long-Term Liabilities | $312K | $25K | $1.39M | $239K |
| Other Liabilities | $0 | $0 | $0 | $0 |
| Total Liabilities | $6.22M | $2.31M | $3.16M | $1.64M |
| Stockholders' Equity | ||||
| Preferred Stock | $0 | $0 | $0 | $0 |
| Common Stock | $1K | $0 | $0 | $3K |
| Retained Earnings | -$125.13M | -$114.62M | -$95.07M | -$86.57M |
| Comprehensive Income & Other | -$3.58M | -$1.1M | -$1.58M | -$483K |
| Other Stockholders' Equity | $121.19M | $121.21M | $103.18M | $92.45M |
| Total Equity | -$3.93M | $6.59M | $8.11M | $5.88M |
| Minority Interest | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $2.29M | $8.9M | $11.27M | $7.53M |
| Supplementary Data | ||||
| Total Debt | $1.51M | $72K | $249K | $465K |
| Net Debt | $1.14M | -$7.07M | -$8.59M | -$3.77M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Currency | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
| Operating Activities | ||||
| Net Income | $218K | -$10.33M | -$8.5M | -$11.49M |
| Depreciation & Amortization | $417K | $526K | $408K | $462K |
| Deferred Income Tax | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $190K | $850K | $717K | $488K |
| Changes in Working Capital: | ||||
| Accounts Receivable | $266K | $269K | $331K | -$32K |
| Inventory | $0 | $0 | $0 | $0 |
| Accounts Payable | $2.31M | $504K | $459K | -$385K |
| Other Working Capital | -$2.72M | -$143K | -$121K | -$260K |
| Total Working Capital Change | -$145K | $630K | $669K | -$677K |
| Other Non-Cash Items | -$8.42M | $228K | -$1.33M | $2.17M |
| Net Cash from Operating | -$7.74M | -$8.1M | -$8.04M | -$9.05M |
| Investing Activities | ||||
| Capital Expenditures | -$48K | -$75K | -$18K | -$79K |
| Acquisitions | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$75K | $0 | $0 | $0 |
| Net Cash from Investing | -$123K | -$75K | -$18K | -$79K |
| Financing Activities | ||||
| Debt Repaid | $1M | - | - | - |
| Common Stock Issuance | $1.26M | $7.65M | $0 | $2M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 |
| Other Financing Activities | $742K | -$1.12M | $305K | -$170K |
| Net Cash from Financing | $1M | $6.53M | $12.69M | $1.83M |
| Forex Effect | $92K | -$56K | -$35K | -$693K |
| Net Change in Cash | -$6.77M | -$1.7M | $4.6M | -$7.99M |
| Supplementary Data | ||||
| Operating Cash Flow | -$7.74M | -$8.1M | -$8.04M | -$9.05M |
| Capital Expenditure | -$123K | -$75K | -$18K | -$79K |
| Free Cash Flow | -$7.86M | -$8.17M | -$8.05M | -$9.13M |
| Cash at Beginning | $7.14M | $8.84M | $4.24M | $12.23M |
| Cash at End | $374K | $7.14M | $8.84M | $4.24M |