Every 10-Q that SmartKem, Inc. (SMTK) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SMTK and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SMTK filings page.
SmartKem, Inc. reported a net loss of $3.3 million for the quarter and $22.6 million for the six months ended June 30, 2026, compared with losses of $2.4 million and $4.5 million a year earlier. Results include a $45.6 million bad debt write-off on intercompany balances with SmartKem Limited and a $43.3 million gain on that subsidiary’s deconsolidation after it entered Creditors' Voluntary Liquidation.
Operating loss improved to $4.0 million for the first half from $7.5 million, driven by sharply lower R&D and G&A expenses, but revenue and grant income largely disappeared. Cash rose to $3.7 million from $0.4 million at year-end, supported by $13.2 million of net financing inflows, while liabilities fell to $0.7 million and stockholders’ equity turned positive at $9.7 million. The company invested $6.5 million into convertible notes of Ferrox Critical Minerals and later agreed to acquire Ferrox in an all-stock transaction valued at about $125 million. Management states there is substantial doubt about the ability to continue as a going concern because current cash is not expected to fund 12 months of operations, and future funding will rely on additional equity, debt and an equity line of credit.
SmartKem, Inc. reported a Q1 2026 net loss of $19.4 million, driven mainly by non-operating charges tied to an equity line of credit, derivative liabilities and debt settlement. Revenue was only $20 thousand, coming from sales of OTFT backplanes and TRUFLEX® materials.
Operating expenses fell to $2.6 million from $3.4 million a year earlier as research and development and general and administrative costs declined. After multiple equity and preferred stock financings, cash rose to $7.6 million, and stockholders’ equity turned positive at $5.4 million.
The company transferred its patent portfolio to a third party but retained process and formulation know‑how embodied in 40 trade secrets. Management states there is substantial doubt about SmartKem’s ability to continue as a going concern because current cash is not expected to fund the next 12 months, and a large equity line of credit and extensive warrants and preferred stock could significantly dilute existing shareholders.
SmartKem, Inc. (SMTK) filed its quarterly report and highlighted severe liquidity pressure and operational disruption. The company posted a net loss of $3.9 million for the quarter and $8.5 million year‑to‑date. Cash and cash equivalents were $0.9 million as of September 30, 2025, with net cash used in operating activities of $6.3 million for the nine months.
Accounts payable and accrued expenses rose to $4.9 million, and management disclosed substantial doubt about continuing as a going concern. The company ceased prototyping at CPI following a cost dispute and loss of facility access, and is evaluating alternatives, including ITRI in Taiwan. Subsequent to quarter‑end, SmartKem raised $1.0 million of bridge financing via $1.1 million Senior Secured Notes due April 30, 2026 and issued 400,000 five‑year warrants at an exercise price of $2.75 per share.
SmartKem also signed a non‑binding LOI to pursue an all‑stock combination with Jericho Energy Ventures, envisioning post‑close ownership of 65% Jericho / 35% SmartKem, subject to customary conditions and financing. Shares outstanding were 6,134,963 as of November 11, 2025.