SMX (Security Matters) Public Ltd Co (SMX)
SMX (Security Matters) Public Limited Company offers cutting-edge technological solutions for brand safeguarding, product verification, and supply chain transparency, primarily serving the global anti-counterfeiting industry. At the heart of its offerings is a unique marking system that can embed either permanent or removable identifiers directly onto materials or items, regardless of whether they are solid, liquid, or gaseous. The company's complete solution integrates these physical or chemical markers with a specialized reader, all connected to a secure blockchain-powered digital platform. This suite of capabilities supports applications such as process traceability, authentication, and initiatives within sustainability and circular economics. SMX provides its services to a broad client base, including brand owners, manufacturers, and various suppliers. The company, which changed its name from Empatan Public Limited Company in February 2023, is headquartered in Dublin, Ireland.
Sector: Misc Industrial & Commercial Machinery & Equipment
Industry: Specialty Business Services
SMX (Security Matters) Public Limited Company
NASDAQ:SMXIndustrials · Specialty Business Services
AHAfter hours-0.85%$1.17
Prev close$1.72-31.40%Close$1.18-0.85%Now$1.17
Close$1.18-31.40%
Mkt Cap$1.06M
Float243K
O/S898K
VOL390K sh
$ Vol$539K
RVOL0.60×
Inst Own1.1%
SI10.5%
Dilution
Financials Summary
Revenue$0
Net Income-$169.18M
Total Assets$41.44M
Free Cash Flow-$17M
Debt & Equity
Debt 52%
Equity 48%
Total Debt$9.17M
Total Equity$8.6M
Shares Outstanding
Short Interest
Split History12 splits · 12 reverse
2-year cumulative
1:127,321,804.84Over cap
Past the 1:250 Nasdaq cap, ineligible for a bid-price compliance period
- 1:2Reverse splitJun 1, 20262 shares → 1
- 1:2.3Reverse splitJun 1, 20262.3 shares → 1
- 1:20Reverse splitMay 11, 202620 shares → 1
- 1:4Reverse splitFeb 17, 20264 shares → 1
- 1:4.9Reverse splitFeb 17, 20264.9 shares → 1
- 1:8Reverse splitNov 18, 20258 shares → 1
- 1:10.9Reverse splitOct 23, 202510.9 shares → 1
- 1:7Reverse splitAug 7, 20257 shares → 1
Balance Sheet Details
Assets$41.44M
Liabilities$22.11M
Accounts Receivable$389K
Accounts Payable$0
Inventory$0
PP&E (Net)$501K
Goodwill$20.12M
Intangible Assets$7.92M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Revenue | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | - | - | - | - | - |
| Cost of Revenue | $3.45M | $0 | $227K | $0 | $0 |
| Gross Profit | -$3.45M | $0 | -$227K | $0 | $0 |
| Gross Margin | - | - | - | - | - |
| Research and Development | $11.05M | $3.06M | $2.51M | $1.9M | $0 |
| Selling, General, and Administrative | $121.29M | $10.98M | $17.2M | $3.11M | $345K |
| Other | $2.9M | $13.83M | $0 | $180K | $0 |
| Total Operating Expenses | $135.24M | $27.86M | $19.71M | $5.19M | $345K |
| Operating Income (EBIT) | -$138.69M | -$27.86M | -$19.94M | -$5.19M | -$345K |
| Operating Margin | - | - | - | - | - |
| Interest Expense | $40.7M | $13.49M | $7.89M | $1.13M | $0 |
| Interest Income | $12.4M | $5.96M | $1.58M | $28K | $2K |
| Other Income (Expense) | -$35.9M | -$7.54M | -$1.05M | -$994K | $2K |
| Income Before Tax (EBT) | -$174.59M | -$35.4M | -$20.99M | -$6.18M | -$343K |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$169.18M | -$31.09M | -$20.91M | -$6.18M | -$343K |
| Net Income Margin | - | - | - | - | - |
| Supplementary Data | |||||
| EPS | -0.82 | -14799.80 | -1072569301.00 | -386500.00 | -246052118.00 |
| Diluted EPS | -0.82 | -14799.80 | -1072569301.00 | -386500.00 | -246052118.00 |
| Weighted Average OS | 60,607 | 2,048 | 0 | 16 | 0 |
| EBITDA | -$135.24M | -$19.64M | -$19.71M | -$4.77M | -$345K |
| EBITDA Margin | - | - | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Assets | |||||
| Current Assets | |||||
| Cash and Cash Equivalents | $12.2M | $2.34M | $168K | $1.4M | $1.42M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $12.2M | $2.34M | $168K | $1.4M | $1.42M |
| Accounts Receivable | $389K | $1.89M | $492K | $444K | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $142K | $72K | $0 |
| Total Current Assets | $12.79M | $4.34M | $802K | $5.07M | $1.69M |
| Long-Term Assets | |||||
| Property, Plant & Equipment Net | $501K | $616K | $800K | $969K | $0 |
| Goodwill | $20.12M | $26.14M | $32.96M | $0 | $0 |
| Intangible Assets | $7.92M | $12.33M | $16.49M | $5.03M | $0 |
| Long-Term Investments | $114K | $105K | $115K | $221K | $126.25M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | $0 | $83K |
| Total Long-Term Assets | $28.65M | $39.19M | $50.36M | $6.22M | $126.33M |
| Other Assets | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $41.44M | $43.53M | $51.16M | $11.29M | $128.02M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | $0 | $0 | $0 | $2.97M | $0 |
| Short-Term Debt | $8.79M | $5.63M | $3.18M | $1.27M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $50K | $0 |
| Other Current Liabilities | $12.37M | $14.16M | $14.12M | $392K | $352K |
| Total Current Liabilities | $21.73M | $20.8M | $18.02M | $4.92M | $352K |
| Long-Term Liabilities | |||||
| Long-Term Debt | $0 | $0 | $483K | $3.68M | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $85K | $4.38M |
| Total Long-Term Liabilities | $382K | $337K | $894K | $4.21M | $4.38M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $22.11M | $21.14M | $18.92M | $9.13M | $4.73M |
| Stockholders' Equity | |||||
| Preferred Stock | $0 | $0 | $0 | $0 | $126.25M |
| Common Stock | $264.63M | $89.98M | $62.9M | $32.71M | $353 |
| Retained Earnings | -$251.2M | -$82.03M | -$50.93M | -$30.02M | -$2.96M |
| Comprehensive Income & Other | -$4.83M | -$1.8M | -$491K | -$537K | $0 |
| Other Stockholders' Equity | -$4.83M | -$1.8M | -$491K | -$537K | $126.25M |
| Total Equity | $8.6M | $6.15M | $11.48M | $2.16M | $123.29M |
| Minority Interest | $10.73M | $16.24M | $20.77M | $0 | $0 |
| Total Liabilities and Equity | $30.71M | $27.29M | $30.39M | $11.29M | $128.02M |
| Supplementary Data | |||||
| Total Debt | $9.17M | $5.97M | $4.08M | $5.42M | $0 |
| Net Debt | -$3.03M | $3.63M | $3.91M | $4.03M | -$1.42M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Operating Activities | |||||
| Net Income | -$169.18M | -$31.09M | -$20.91M | -$6.18M | -$343K |
| Depreciation & Amortization | $3.45M | $2.27M | $227K | $290K | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $306K | $0 |
| Changes in Working Capital: | |||||
| Accounts Receivable | $1.24M | $140K | $2.94M | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $2.22M | $0 |
| Other Working Capital | -$1.3M | -$1.02M | $1.86M | -$2.81M | -$62K |
| Total Working Capital Change | -$63K | -$879K | $4.8M | -$588K | -$62K |
| Other Non-Cash Items | $148.79M | $18.38M | $3.41M | $953K | -$2K |
| Net Cash from Operating | -$17M | -$11.31M | -$12.48M | -$5.22M | -$406K |
| Investing Activities | |||||
| Capital Expenditures | $0 | -$190K | -$1.04M | -$152K | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | -$126.25M |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | -$975K | $0 |
| Net Cash from Investing | $0 | -$190K | -$1.04M | -$1.13M | -$126.25M |
| Financing Activities | |||||
| Debt Repaid | $370K | $34K | -$520K | -$3.25M | - |
| Common Stock Issuance | $0 | $9.34M | $6.19M | $182K | $128.07M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$53K | -$503K | $2.64M | $0 | $0 |
| Net Cash from Financing | $29.75M | $13.11M | $11.95M | $3.85M | $128.07M |
| Forex Effect | -$2.89M | $569K | $312K | -$269K | $1 |
| Net Change in Cash | $9.86M | $2.17M | -$1.25M | -$2.77M | $1.42M |
| Supplementary Data | |||||
| Operating Cash Flow | -$17M | -$11.31M | -$12.48M | -$5.22M | -$406K |
| Capital Expenditure | $0 | -$21K | -$60K | -$1.13M | $3 |
| Free Cash Flow | -$17M | -$11.34M | -$12.54M | -$6.35M | -$406K |
| Cash at Beginning | $2.34M | $168K | $1.42M | $4.17M | $0 |
| Cash at End | $12.2M | $2.34M | $168K | $1.4M | $1.42M |