SmartKem, Inc. (SMTK)

From the record

SmartKem, Inc.'s filings since 2020 show 14 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, 6 times, the latest 2026-09-14); a warning not to rely on past financial statements (8-K item 4.02, the latest 2022-08-15); an auditor change (8-K item 4.01, 3 times, the latest 2025-04-22); a late-report notice (Form NT 10-K or NT 10-Q, 4 times, the latest 2026-05-15) (its current reports).

From the record

SmartKem, Inc.'s 6 filed years say what it did: revenue went from $94 thousand in fiscal 2020 to $697 thousand in fiscal 2025, up 49.3% a year; it rose in 3 of 5 years; the deepest fall was 81% from fiscal 2020 to fiscal 2021; net income was positive in 0 of 6 of those years (its annual reports).

From the record

Return on equity: in the fiscal year ended 2025-12-31, SmartKem, Inc.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned about 19 cents per dollar of everything the company owns. Leverage: it owed about 272 cents per dollar of assets, and net share issuance: its share count grew 150.2% over the year (the filed statements).

From the record

SmartKem, Inc.'s standing among 97 graded names in its industry family: revenue of $697 thousand in fiscal 2025 ranks in the bottom 4% by size; a net margin of -1507.7% ranks in the bottom 6%; revenue growth of 159.2% a year over the last 3 filed years ranks in the top 6% (its annual reports).

From the record

SmartKem, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Jenks, Ian (Chairman & CEO, as filed), filing under that title since 2021-02-24, 5.7 years (top 40% of its family); the 6 officers and directors filing in the last fifteen months have been on the record a median of 5 years (bottom 35%); 11 officer or director changes were reported on Form 8-K since 2023-11-13, against the 6 people in charge now (bottom 1%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

SmartKem, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $374 thousand against no long-term debt tagged leaves 16.3% of its assets as net cash, top 41% of its family; cash from operations less capital spending is -1127.5% of revenue (bottom 6%); a gross margin of 61% (top 14%); research spending of 1006.7% of revenue (top 5%) (its annual report).

From the record

SmartKem, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 159.2% a year over the last three filed years against 49.3% over all 6, speeding up (top 1% of its family); the newest year grew 751.2% (top 2%); research spending grew 6.5% a year (top 47%); capital spending grew 15.9% a year (top 37%) (its annual reports). SmartKem, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

From the record

SmartKem, Inc.'s newest year against its own record: revenue of $697 thousand in fiscal 2025 came in 493.8% above the $117 thousand its prior three years' pace pointed to (top 4% of its family); net income of $11 million against a prior three-year average of $10 million (top 45%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 2%) (its annual reports).