SMX Financials
This page shows SMX (SMX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A capital-raising model is carrying operations while a non-cash-heavy FY2025 loss obscures the underlying cash drain.
In FY2025, the gap between net loss of-$174.6M and operating cash flow of-$17.0M implies the earnings collapse was driven much more by non-cash charges than by cash actually leaving the business. Cash still rose to$12.2M from$2.3M because financing brought in$29.7M , so the company looked more liquid at year-end only through fresh external funding.
The balance sheet looks less levered than it is liquid: long-term debt was just
Over the last three fiscal years, operating cash burn stayed within
Financial Health Signals
SMX does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
SMX passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
SMX reported a net loss of $174.6M while operations used $17.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
SMX reported -$174.6M in net income in fiscal year 2025. This represents a decrease of 393.2% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
SMX held $12.2M in cash against $382K in long-term debt as of fiscal year 2025, with $21.7M of liabilities due within a year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
SMX's ROE was -903.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 745.3 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
SMX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | $13K |
| Interest Expense | $36K+24.1% | $29K-9.4% | $32K-37.3% | $51K | N/A | N/A |
| Net Income | -$174.6M-393.2% | -$35.4M-68.7% | -$21.0M-239.4% | -$6.2M-25.2% | -$4.9M-8.0% | -$4.6M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Income Tax, EPS (Diluted).
SMX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $41.4M-4.8% | $43.5M-14.9% | $51.2M+353.2% | $11.3M+9.2% | $10.3M | N/A |
| Current Assets | $12.8M+194.9% | $4.3M+440.6% | $802K-84.2% | $5.1M-0.4% | $5.1M | N/A |
| Cash & Equivalents | $12.2M+420.7% | $2.3M+1294.6% | $168K-88.0% | $1.4M-66.5% | $4.2M-3.9% | $4.3M |
| Goodwill | $20.1M-23.0% | $26.1M-20.7% | $33.0M | N/A | N/A | N/A |
| Total Liabilities | $22.1M+4.6% | $21.1M+11.7% | $18.9M+107.1% | $9.1M+273.2% | $2.4M | N/A |
| Current Liabilities | $21.7M+4.5% | $20.8M+15.4% | $18.0M+265.9% | $4.9M+159.8% | $1.9M | N/A |
| Long-Term Debt | $382K+13.4% | $337K-18.0% | $411K-6.6% | $440K-5.6% | $466K | N/A |
| Total Equity | $19.3M-13.7% | $22.4M-30.6% | $32.2M+1395.5% | $2.2M-72.7% | $7.9M+22.5% | $6.4M |
| Retained Earnings | -$251.2M-206.2% | -$82.0M-61.0% | -$50.9M-69.7% | -$30.0M-25.9% | -$23.8M | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable.
SMX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$17.0M-50.3% | -$11.3M+9.3% | -$12.5M-138.9% | -$5.2M-33.6% | -$3.9M-11.2% | -$3.5M |
| Capital Expenditures | N/A | $21K-65.0% | $60K-60.5% | $152K-48.8% | $297K+26.4% | $235K |
| Free Cash Flow | N/A | -$11.3M+9.6% | -$12.5M-133.3% | -$5.4M-27.8% | -$4.2M-12.1% | -$3.8M |
| Investing Cash Flow | N/A | -$190K+81.7% | -$1.0M+8.1% | -$1.1M+36.1% | -$1.8M-84.2% | -$958K |
| Financing Cash Flow | $29.7M+126.9% | $13.1M+9.7% | $12.0M+210.8% | $3.8M-37.1% | $6.1M-8.7% | $6.7M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SMX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Net Margin | N/A | N/A | N/A | N/A | N/A | -35176.9% |
| Return on Equity | -903.4%-745.3pp | -158.1%-93.0pp | -65.1%+221.7pp | -286.8%-224.2pp | -62.6%+8.4pp | -71.0% |
| Return on Assets | -421.3%-340.0pp | -81.3%-40.3pp | -41.0%+13.7pp | -54.8%-7.0pp | -47.8% | N/A |
| Current Ratio | 0.59+0.4x | 0.21+0.2x | 0.04-1.0x | 1.03-1.7x | 2.69 | N/A |
| Debt-to-Equity | 0.020.0x | 0.020.0x | 0.01-0.2x | 0.20+0.1x | 0.06 | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | -28846.2% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin, FCF Margin.
Note: The current ratio is below 1.0 (0.59), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where SMX Ranks
Frequently Asked Questions
Is SMX profitable?
No, SMX (SMX) reported a net income of -$174.6M in fiscal year 2025.
How much debt does SMX have?
As of fiscal year 2025, SMX (SMX) had $12.2M in cash and equivalents against $382K in long-term debt.
What is SMX's return on equity (ROE)?
SMX (SMX) has a return on equity of -903.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is SMX's operating cash flow?
SMX (SMX) recorded an outflow of $17.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are SMX's total assets?
SMX (SMX) had $41.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What is SMX's current ratio?
SMX (SMX) had a current ratio of 0.59 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is SMX's debt-to-equity ratio?
SMX (SMX) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is SMX's return on assets (ROA)?
SMX (SMX) had a return on assets of -421.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does SMX's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, SMX (SMX) held $12.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $17.0M over that year. Dividing the one by the other, the reported balance equals about 9 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is SMX's Piotroski F-Score?
SMX (SMX) has a Piotroski F-Score of 2 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are SMX's earnings high quality?
SMX (SMX) reported a net loss of $174.6M while operations used $17.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.