Summit Therapeutics (SMMT) financial statements
Net income was -$1.1B.
Free cash flow was -$324M.
The diluted share count rose 4240% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Summit Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $57M | $860,000 | $2M | $705,000 | $0 | $0 | — |
| Research and development | $52M | $53M | $85M | $52M | $59M | $151M | $538M |
| Selling, general and admin | $17M | $19M | $24M | $27M | $29M | $60M | $557M |
| Operating income | $5M | -$53M | -$86M | -$72M | -$610M | -$226M | — |
| Interest expense | $620,000 | $255,000 | $242,000 | $4M | $16M | $9M | $0 |
| Pre-tax income | $9M | -$53M | -$89M | -$79M | -$615M | -$221M | -$1.1B |
| Income tax | -$2M | -$213,000 | $0 | — | $0 | $0 | $0 |
| Net income | $11M | -$53M | -$89M | -$79M | -$615M | -$221M | -$1.1B |
| EPS (diluted) | $0.63 | -$0.76 | -$0.67 | -$0.41 | -$0.99 | -$0.31 | -$1.44 |
| Diluted shares | 17M | 70M | 132M | 193M | 620M | 719M | 748M |
| Operating margin | 9.4% | -6185.2% | -4764.3% | -10225.4% | — | — | — |
| Net margin | 19.0% | -6127.6% | -4897.8% | -11174.8% | — | — | — |
Balance sheet
Fiscal years, from Summit Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $35M | $66M | $72M | $349M | $186M | $412M | $713M |
| Receivables | — | $331,000 | $1M | $349,000 | $0 | — | — |
| Total current assets | — | $88M | $97M | $657M | $190M | $424M | $720M |
| Property, plant and equipment | — | $725,000 | $694,000 | $906,000 | $204,000 | $254,000 | $1M |
| Goodwill | $2M | $2M | $2M | $2M | $2M | $2M | $2M |
| Total assets | — | $102M | $113M | $664M | $203M | $436M | $751M |
| Total current liabilities | — | $20M | $26M | $39M | $20M | $42M | $73M |
| Total liabilities | — | $23M | $30M | $538M | $125M | $47M | $92M |
| Shareholders' equity | $58M | $79M | $83M | $127M | $78M | $389M | $659M |
| Net debt | -$35M | -$66M | -$72M | -$349M | -$71M | -$105M | -$225M |
Cash flow
Fiscal years, from Summit Therapeutics's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$35M | -$48M | -$73M | -$42M | -$77M | -$142M | -$323M |
| Capital spending | $157,000 | $421,000 | $306,000 | $624,000 | $128,000 | $139,000 | $657,000 |
| Free cash flow | -$35M | -$49M | -$73M | -$42M | -$77M | -$142M | -$324M |
| Stock-based compensation | $6M | $2M | $13M | $12M | $14M | $51M | $732M |
| Dividends paid | $0 | $0 | — | — | — | — | — |
| Free cash flow margin | -61.8% | -5643.3% | -4029.5% | -5986.7% | — | — | — |
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How much free cash flow does Summit Therapeutics generate?
-$324M in fiscal 2025 (operating cash flow minus capital spending).
From Summit Therapeutics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.