SmartKem, Inc.
Income Statement
| Line Item | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Jun 2024 | Dec 2023 | Sep 2023 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.0K | $561.0K | $81.0K | $32.0K | $23.0K | $40.0K | $0 | $3.0K |
| Cost of Revenue | $4.0K | $238.0K | $5.0K | $28.0K | $1.0K | $32.0K | $0 | $1.0K |
| Gross Profit | $16.0K | $323.0K | $76.0K | $4.0K | $22.0K | $8.0K | $0 | $2.0K |
| Gross Margin | 80.0% | 57.6% | 93.8% | 12.5% | 95.7% | 20.0% | — | 66.7% |
| Operating Expenses | ||||||||
| Research & Development | $913.0K | $1.0M | $2.1M | $2.4M | $1.5M | $1.2M | $1.5M | $1.6M |
| SG&A Expense | $1.7M | $1.7M | $1.3M | $2.4M | $2.0M | $1.8M | $1.2M | $1.3M |
| Operating Income | $-2.6M | $-2.1M | $-3.2M | $-4.4M | $-3.1M | $-2.8M | $-2.4M | $-2.7M |
| Operating Margin | -12,865.0% | -380.7% | -3,937.0% | -13,662.5% | -13,643.5% | -6,942.5% | — | -89,833.3% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $-19.4M | $-2.1M | $-3.9M | $-2.4M | $-2.2M | $-3.1M | $-1.4M | $-3.0M |
| Income Tax Expense | — | — | — | $1.0K | $-25.0K | $1.0K | — | — |
| Net Income | $-19.4M | $-2.1M | $-3.9M | $-2.4M | $-2.1M | $-3.1M | $-1.4M | $-3.0M |
| Net Margin | -96,845.0% | -366.3% | -4,839.5% | -7,500.0% | -9,278.3% | -7,747.5% | — | -100,733.3% |
| EPS (Basic) | $-1.34 | $-0.22 | $-0.15 | $-0.30 | $-0.32 | $-0.33 | $-0.09 | $-0.59 |
| EPS (Diluted) | $-1.34 | $-0.22 | $-0.15 | $-0.30 | $-0.32 | $-0.33 | $-0.09 | $-0.59 |
| Shares Outstanding (Basic) | 14.4M | 8.2M | 26.3M | 8.1M | 6.6M | 9.5M | 4.0M | 5.1M |
| Shares Outstanding (Diluted) | 14.4M | 8.2M | 26.3M | 8.1M | 6.6M | 9.5M | 4.0M | 5.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |