Company / R&D Expense
SmartKem, Inc. R&D Expense History
FY2021-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$5.1M
FY2025
5-year range
$4.3M / $8.2M
FY2021-FY2025
Trend
-8.0%
vs FY2024
Sector context
Sector data unavailable
Latest sector comparison
What the data says
R&D Expense has declined for 3 consecutive years, from $8M in FY2022 to $5M in FY2025.
Based on SEC 10-K filings.
$5M in FY2025 with a 3-year CAGR of -14.6%.
Declined from $6M to $5M over the past 2 years.
R&D Expense over time
Growth rates
- 3-Year CAGR
- -14.6%
- 5-Year CAGR
- -
- 10-Year CAGR
- -
Key checks
Key Insights
- SmartKem, Inc.'s r&d expense has declined for 3 consecutive years.
- 3-year CAGR of -14.6%, indicating a declining trend.
- In FY2025, r&d expense decreased 8.0% year-over-year.
- Peak r&d expense was recorded in FY2022.
Company context
Key Data Points
- Altman Z-Score -16.20 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $5.1M | -8.0% |
| FY2024 | $5.6M | -4.2% |
| FY2023 | $5.8M | -29.2% |
| FY2022 | $8.2M | +89.8% |
| FY2021 | $4.3M | - |
As of FY2025 · SEC 10-K · Updated Jun 28, 2026