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Smartkem, Inc. cash flow statement

In fiscal 2025, Smartkem, Inc.'s operations generated −$7.7m of cash; it spent $123,000 on capital projects, leaving free cash flow of −$7.9m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−4−10−9−8−8−8−5
Depreciation and amortisation0000000
Stock-based pay—601111
Capital spending0000000
Free cash flow−4−10−9−8−8−8−5
Free cash flow after stock pay—−16−10−9−9−9−6
Shares issued5—213———

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Smartkem, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Smartkem, Inc.