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MARKETS / NASDAQ / SMTK
NASDAQ · SEMICONDUCTORS & RELATED DEVICES

SmartKem, Inc. SMTK

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$697,000
▲ 750.0% YoY
$-10.5M
$-7.9M
In brief

What this company does

Our TRUFLEX® semiconductor polymers enable low-temperature printing processes that are compatible with existing manufacturing infrastructure to deliver low-cost, high-performance displays. We design and develop our materials at our research and development facility in Manchester, UK, and provide prototyping services at the Centre for Process Innovation in Sedgefield, UK. We supply our advanced materials as a set of stable liquid inks, with each ink forming a separate layer of the device. In January 2025, we completed the first sale of our TRUFLEX® materials to Chip Foundation under our co-development agreement. In December 2025, we announced that we had created the world's first all-organic-transistor ("AOT") biometric sensor, in collaboration with Shanghai Jiao Tong University (“SJTU”).

Written from the business description in SmartKem, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 8 April 2026. Every sentence was checked against that document before publication.

Growth
USD 697,000.00
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 0.7 · Net income -10.5
-8M-16M202020212022202320242025
Compound annual growth
+159.3%
+49.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +49.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−1508 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -1841.5% · Net -1507.7%
-50000%202020212022202320242025
ROE
FY2025 · ROE -791.0%
-500%-1000%202020212022202320242025

Each USD of equity lost 791 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -7.9
-4M-8M202020212022202320242025

Total assetsUSD 2.3M
EquityUSD -3.9M
CashUSD 374,000.00
Current ratio0.25×

Equity funds -172% of total assets.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020
Revenue $B0.00.00.00.00.00.0
Operating income $B−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B−0.00.0·0.0··
Net income $B−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−1.29−6.00−6.32−13.88−0.68−1.80
Dividend / sh $·2.83····
Payout %······
ROE %−791.0−140.5−121.4−118.5−222.8−1249.8
Shares out B0.010.000.000.000.030.01

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 2 failures in 30 reconciliationsAUDITED

Reconciled in 4 of 19 fiscal years. 65 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente2 failures
ActivitySemiconductors & Related Devices
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2020

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