SmartKem (SMTK) Operating Expenses (2020 - 2026)
SmartKem (SMTK) recorded Operating Expenses of $2.62 million in Q1 2026, down 23.1% from $3.41 million a year earlier and down 2.8% from the prior quarter.
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Analysis
SmartKem (SMTK) Operating Expenses (2020 - 2026) Analysis & Trends
On a TTM basis, SmartKem's Operating Expenses came in at $13.42 million as of Mar 31, 2026, up 9.2% year-over-year; for FY2025, it came in at $14.21 million, up 23.2% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of 18.7% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $11.53 million in FY2024 (+6.5%), $10.83 million in FY2023 (-0.4%), $10.87 million in FY2022 (-38.2%) and $17.6 million in FY2021 (+192.0%).
- The Q1 2026 figure is the lowest quarterly Operating Expenses since Q4 2023.
- On a year-over-year basis, Operating Expenses rose in six of the last eight quarters, with growth averaging 12.8%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 118.7% in Q2 2021, against a decline of 71.0% in Q1 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $2.7 million (Q4 2025), $3.45 million (Q3 2025) and $4.66 million (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Linde | 231.60 Bn | 213.18 Bn | 4.43 Bn | 928.00 Mn |
| 2 | Corning | 116.90 Bn | 109.47 Bn | 1.63 Bn | 907.00 Mn |
| 3 | Sherwin Williams | 81.95 Bn | 80.99 Bn | 3.34 Bn | 2.10 Bn |
| 4 | Air Products & Chemicals | 67.41 Bn | 62.60 Bn | 1.04 Bn | 3.15 Bn |
| 5 | LyondellBasell Industries | 40.39 Bn | 29.90 Bn | 2.04 Bn | 7.63 Bn |
| 6 | Nutrien | 33.03 Bn | 29.86 Bn | 3.25 Bn | 235.00 Mn |
| 7 | Qnity Electronics | 25.25 Bn | 22.39 Bn | 666.00 Mn | 298.00 Mn |
| 8 | Ati | 24.87 Bn | 22.90 Bn | 309.80 Mn | 99.60 Mn |
| 9 | Ppg Industries | 24.44 Bn | 17.10 Bn | 1.81 Bn | 1.15 Bn |
| 10 | SmartKem | 218,129.96 | -12.36 Mn | - | 1.40 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.40 Mn |
| Mar 31, 2026 | 2.62 Mn |
| Dec 31, 2025 | 2.70 Mn |
| Sep 30, 2025 | 3.45 Mn |
| Jun 30, 2025 | 4.66 Mn |
| Mar 31, 2025 | 3.41 Mn |
| Dec 31, 2024 | 2.73 Mn |
| Sep 30, 2024 | 3.13 Mn |
| Jun 30, 2024 | 3.02 Mn |
| Mar 31, 2024 | 2.65 Mn |
| Dec 31, 2023 | 2.52 Mn |
| Sep 30, 2023 | 2.95 Mn |
| Jun 30, 2023 | 2.54 Mn |
| Mar 31, 2023 | 2.82 Mn |
| Dec 31, 2022 | 2.72 Mn |
| Sep 30, 2022 | 2.74 Mn |
| Jun 30, 2022 | 2.71 Mn |
| Mar 31, 2022 | 2.70 Mn |
| Dec 31, 2021 | 2.85 Mn |
| Sep 30, 2021 | 2.72 Mn |
API Access
SmartKem Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=SMTK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "SMTK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=SMTK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();