SMTK on Nasdaq
SmartKem, Inc.
American semiconductors and related devices company based in Manchester.
Price unavailable
Last updated Oct 18, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
61.0%Gross margin3
-1841.5%Operating margin3
-1507.7%Net margin3
750.0%Revenue growth, 20253
-$7.9MFree cash flow3
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue2¢$272.0K
- Research and development48¢$7.0M
- Selling, general and admin50¢$7.4M
- Income tax0¢$24.0K
Out of $697.0K in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $697.0K | $82.0K |
| Cost of revenue | $272.0K | $32.0K |
| Gross profit | $425.0K | $50.0K |
| Other operating income | $951.0K | $1.0M |
| Research and development | $7.0M | $5.1M |
| General and administrative | $7.4M | $6.3M |
| (Gain) / loss on foreign currency transactions | -$177.0K | $78.0K |
| Total operating expenses | $14.2M | $11.5M |
| Loss from operations | -$12.8M | -$10.5M |
| Gain / (loss) on foreign currency transactions | $2.4M | -$544.0K |
| Change in fair value of the warrant liability | $672.0K | |
| Interest income / (expense) | -$73.0K | $7.0K |
| Total non-operating income / (expense) | $2.3M | $135.0K |
| Loss before income taxes | -$10.5M | -$10.3M |
| Income tax refund / (expense) | $24.0K | -$1.0K |
| Preferred stock deemed dividends | -$9.2M | |
| Net loss attributed to common stockholders | -$10.5M | -$19.6M |
| Basic net loss per common share (in dollars per share) | -$1.29 | -$3.17 |
| Weighted average shares outstanding - basic (in shares) | 8.2M shares | 3.3M shares |
| Diluted net loss per common share (in dollars per share) | -$1.29 | -$6.00 |
| Weighted average shares outstanding -diluted (in shares) | 8.2M shares | 3.3M shares |
| Dividends per common share (in dollars per share) | -$2.83 | |
| Net loss | -$10.5M | -$10.3M |
| Foreign currency translation | -$2.5M | $473.0K |
| Total comprehensive loss | -$13.0M | -$9.9M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $374.0K | $7.1M | |
| Accounts receivable | $3.0K | ||
| Research and development tax credit receivable | $549.0K | $519.0K | |
| Prepaid expenses and other current assets | $575.0K | $849.0K | |
| Total current assets | $1.5M | $8.5M | |
| Property, plant and equipment, net | $180.0K | $269.0K | |
| Right-of-use assets, net | $607.0K | $120.0K | |
| Other assets, non-current | $6.0K | ||
| Total assets | $2.3M | $8.9M | |
| Accounts payable and accrued expenses | $4.6M | $1.8M | |
| Lease liabilities, current | $271.0K | $47.0K | |
| Notes payable, current | $928.0K | ||
| Other current liabilities | $108.0K | $450.0K | |
| Total current liabilities | $5.9M | $2.3M | |
| Lease liabilities, non-current | $312.0K | $25.0K | |
| Total liabilities | $6.2M | $2.3M | |
| Common stock, par value $0.0001 per share, 300,000,000 shares authorized, 6,836,689 and 3,590,217 shares issued and outstanding, at December 31, 2025 and December 31, 2024, respectively | $1.0K | ||
| Additional paid-in capital | $124.8M | $122.3M | |
| Accumulated other comprehensive loss | -$3.6M | -$1.1M | |
| Accumulated deficit | -$125.1M | -$114.6M | |
| Total stockholders' (deficit) / equity | -$3.9M | $6.6M | $8.1M |
| Total liabilities and stockholders' (deficit) / equity | $2.3M | $8.9M | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 856 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 856 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 300.0M shares | 300.0M shares | |
| Common stock, shares issued (in shares) | 6.8M shares | 3.6M shares | |
| Common stock, shares outstanding (in shares) | 6.8M shares | 3.6M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $374.0K | $7.1M | |
| Accounts receivable | $3.0K | ||
| Research and development tax credit receivable | $549.0K | $519.0K | |
| Prepaid expenses and other current assets | $575.0K | $849.0K | |
| Total current assets | $1.5M | $8.5M | |
| Property, plant and equipment, net | $180.0K | $269.0K | |
| Right-of-use assets, net | $607.0K | $120.0K | |
| Other assets, non-current | $6.0K | ||
| Total assets | $2.3M | $8.9M | |
| Accounts payable and accrued expenses | $4.6M | $1.8M | |
| Lease liabilities, current | $271.0K | $47.0K | |
| Notes payable, current | $928.0K | ||
| Other current liabilities | $108.0K | $450.0K | |
| Total current liabilities | $5.9M | $2.3M | |
| Lease liabilities, non-current | $312.0K | $25.0K | |
| Total liabilities | $6.2M | $2.3M | |
| Common stock, par value $0.0001 per share, 300,000,000 shares authorized, 6,836,689 and 3,590,217 shares issued and outstanding, at December 31, 2025 and December 31, 2024, respectively | $1.0K | ||
| Additional paid-in capital | $124.8M | $122.3M | |
| Accumulated other comprehensive loss | -$3.6M | -$1.1M | |
| Accumulated deficit | -$125.1M | -$114.6M | |
| Total stockholders' (deficit) / equity | -$3.9M | $6.6M | $8.1M |
| Total liabilities and stockholders' (deficit) / equity | $2.3M | $8.9M | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 856 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 856 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 300.0M shares | 300.0M shares | |
| Common stock, shares issued (in shares) | 6.8M shares | 3.6M shares | |
| Common stock, shares outstanding (in shares) | 6.8M shares | 3.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$10.5M | -$10.3M |
| Depreciation | $212.0K | $258.0K |
| Stock-based compensation expense | $1.0M | $850.0K |
| Issuance of common stock to vendor | $1.3M | $253.0K |
| Right-of-use asset amortization | $205.0K | $268.0K |
| (Loss) / gain on foreign currency transactions | -$2.6M | $647.0K |
| Change in fair value of the warrant liability | -$672.0K | |
| Debt discount amortization | $87.0K | |
| Accounts receivable | -$3.0K | $269.0K |
| Research and development tax credit receivable | -$29.0K | $84.0K |
| Prepaid expenses and other assets | $268.0K | -$33.0K |
| Accounts payable and accrued expenses | $2.8M | $504.0K |
| Lease liabilities | -$182.0K | -$281.0K |
| Other current liabilities | -$342.0K | $87.0K |
| Net cash used in operating activities | -$7.7M | -$8.1M |
| Purchases of property, plant and equipment | -$123.0K | -$75.0K |
| Net cash used by investing activities | -$123.0K | -$75.0K |
| Payment of issuance costs | -$1.1M | |
| Proceeds from the issuance of debt | $1.0M | |
| Proceeds from the exercise of warrants | $24.0K | |
| Net cash provided by financing activities | $1.0M | $6.5M |
| Effect of exchange rate changes on cash | $92.0K | -$56.0K |
| Net change in cash | -$6.8M | -$1.7M |
| Right-of-use asset and lease liability additions | $708.0K | $82.0K |
| Cash paid for income taxes | -$24.0K | $1.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led SmartKem, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chair
Chief financial officer
2025
- Chief executive officerIan Jenks Feb 24, 2021 to now10
- ChairIan Jenks Feb 24, 2021 to now10
- Chief financial officerBarbra Keck Dec 20, 2022 to now11
- Chief financial officerRobert Bahns Feb 24, 2021 to Apr 11, 202212
Board members and other officers (10)
- Chief Accounting OfficerNigel Prue Sep 8, 2022 to Sep 8, 202213
- Chief ScientistBeverley Brown Feb 24, 2021 to now14
- Chief Technology OfficerSimon Ogier Feb 24, 2021 to now15
- Board memberSriram Krishnamurthy Peruvemba Jul 18, 2023 to now16
- Board memberMelisa Denis Nov 28, 2023 to now17
- Board memberSteven Denbaars Jun 30, 2022 to now18
- Board memberBarbra Keck Feb 24, 2021 to Dec 20, 202219
- Board memberBoer Klaas De Feb 24, 2021 to now20
- Board memberRobert Bahns Feb 24, 2021 to Apr 11, 202212
- Board memberSimon P. King Feb 24, 2021 to Jan 27, 202221
Former names
- Parasol Investments CorpJul 13, 2020 to Feb 19, 20212
Timeline
- Feb 24, 2021New chief executive Ian Jenks becomes CEO10
Filings
298 filings to the SEC since October 2021: 6 annual reports, 17 quarterly reports, 76 major events, 56 insider forms, 26 large holders, 8 private raises, 109 other. The latest 20:
- Sep 21, 20268-K EDGAR
- Sep 18, 2026S-3 EDGAR
- Sep 18, 2026S-1 EDGAR
- Sep 14, 20268-K EDGAR
- Sep 4, 20268-K EDGAR
- Aug 21, 20268-K EDGAR
- Aug 19, 20268-K EDGAR
- Aug 14, 202610-Q EDGAR
- Aug 4, 2026SCHEDULE 13G/A EDGAR
- Aug 3, 20268-K EDGAR
- Jul 27, 2026SCHEDULE 13G/A EDGAR
- Jul 27, 20268-K EDGAR
- Jul 21, 20268-K EDGAR
- Jul 10, 2026424B3 EDGAR
- Jul 9, 2026EFFECT EDGAR
- Jul 7, 2026S-8 POS EDGAR
- Jul 7, 2026S-3/A EDGAR
- Jul 2, 2026S-8 EDGAR
- Jul 2, 2026S-3 EDGAR
- Jun 26, 20268-K EDGAR
The 298 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 26 such filings since October 2021, the latest 10:
- Aug 4, 2026SCHEDULE 13G/A
- Jul 27, 2026SCHEDULE 13G/A
- Jan 30, 2026SCHEDULE 13G/A
- Jan 21, 2026SCHEDULE 13G/A
- Nov 14, 2025SCHEDULE 13G/A
- Nov 12, 2025SCHEDULE 13G/A
- Sep 24, 2025SCHEDULE 13G
- Aug 14, 2025SCHEDULE 13G/A
- Jul 1, 2025SCHEDULE 13G/A
- May 15, 2025SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Money raised
Private offerings the company reported to the SEC on Form D.
- Dec 20, 2024Raised $7.6 million in a private offering of equity Form D: 13 investors so far Form D
- Sep 10, 2024Raised $152,400 in a private offering of equity Form D: 1 investor so far Form D
- Mar 7, 2024Raised $347,500 in a private offering of equity Form D: 1 investor so far Form D
- Jun 14, 2023Raised $14.3 million in a private offering of equity Form D: 89 investors so far Form D
- Jun 29, 2022Raised $720,000 in a private offering of equity Form D: 1 investor so far Form D
- May 27, 2022Raised $100,000 in a private offering of equity Form D: 1 investor so far Form D
- Jan 27, 2022Raised $2 million in a private offering of equity Form D: 2 investors so far Form D
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARSmartKem, Inc. filings on SEC EDGAR
- 2SEC EDGARSmartKem, Inc. filings on SEC EDGAR
- 3SEC EDGARSmartKem, Inc. 10-K for fiscal 2025
- 4SEC EDGARSmartKem, Inc. 10-K for fiscal 2020
- 5SEC EDGARSmartKem, Inc. 10-K for fiscal 2021
- 6SEC EDGARSmartKem, Inc. 10-K for fiscal 2022
- 7SEC EDGARSmartKem, Inc. 10-K for fiscal 2023
- 8SEC EDGARSmartKem, Inc. 10-Q for fiscal 2026
- 9SEC EDGARSmartKem, Inc. 10-Q for fiscal 2026
- 10SEC EDGARIan Jenks, Chief executive officer
- 11SEC EDGARBarbra Keck, Chief financial officer
- 12
- 13SEC EDGARNigel Prue, Chief Accounting Officer
- 14SEC EDGARBeverley Brown, Chief Scientist
- 15
- 16
- 17SEC EDGARMelisa Denis, Board member
- 18SEC EDGARSteven Denbaars, Board member
- 19SEC EDGARBarbra Keck, Board member
- 20SEC EDGARBoer Klaas De, Board member
- 21SEC EDGARSimon P. King, Board member