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Side-by-side financial comparison of Solowin Holdings, Ltd. (AXG) and SmartKem, Inc. (SMTK). Click either name above to swap in a different company.
SmartKem, Inc. is the larger business by last-quarter revenue ($561.0K vs $410.0K, roughly 1.4× Solowin Holdings, Ltd.).
SmartKem, Inc. is an advanced materials developer focused on proprietary organic semiconductor formulations designed for flexible and foldable display panels, printed electronics, and next-generation optoelectronic devices. It serves global consumer electronics display manufacturers and semiconductor component producers across North America, East Asia and Europe.
AXG vs SMTK — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $410.0K | $561.0K |
| Net Profit | — | $-2.1M |
| Gross Margin | — | 57.6% |
| Operating Margin | -34.1% | -380.7% |
| Net Margin | — | -366.3% |
| Revenue YoY | — | — |
| Net Profit YoY | — | 23.7% |
| EPS (diluted) | — | $-0.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $561.0K | ||
| Q3 25 | — | $81.0K | ||
| Q3 24 | $410.0K | $0 | ||
| Q4 23 | — | $0 | ||
| Q3 23 | — | $3.0K | ||
| Q2 23 | — | $8.0K | ||
| Q1 23 | — | $16.0K | ||
| Q4 22 | — | $-20.0K |
| Q4 25 | — | $-2.1M | ||
| Q3 25 | — | $-3.9M | ||
| Q3 24 | — | $-2.8M | ||
| Q4 23 | — | $-1.4M | ||
| Q3 23 | — | $-3.0M | ||
| Q2 23 | — | $-2.0M | ||
| Q1 23 | — | $-2.0M | ||
| Q4 22 | — | $-1.1M |
| Q4 25 | — | 57.6% | ||
| Q3 25 | — | 93.8% | ||
| Q3 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | 66.7% | ||
| Q2 23 | — | 25.0% | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — |
| Q4 25 | — | -380.7% | ||
| Q3 25 | — | -3937.0% | ||
| Q3 24 | -34.1% | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | -89833.3% | ||
| Q2 23 | — | -29587.5% | ||
| Q1 23 | — | -15962.5% | ||
| Q4 22 | — | 12035.0% |
| Q4 25 | — | -366.3% | ||
| Q3 25 | — | -4839.5% | ||
| Q3 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | -100733.3% | ||
| Q2 23 | — | -25337.5% | ||
| Q1 23 | — | -12800.0% | ||
| Q4 22 | — | 5395.0% |
| Q4 25 | — | $-0.22 | ||
| Q3 25 | — | $-0.45 | ||
| Q3 24 | — | $-0.86 | ||
| Q4 23 | — | $-0.27 | ||
| Q3 23 | — | $-1.78 | ||
| Q2 23 | — | $-1.82 | ||
| Q1 23 | — | $-2.45 | ||
| Q4 22 | — | $-8.90 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.5M | $374.0K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $6.0M | $-3.9M |
| Total Assets | $13.1M | $2.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $374.0K | ||
| Q3 25 | — | $881.0K | ||
| Q3 24 | $2.5M | $1.8M | ||
| Q4 23 | — | $8.8M | ||
| Q3 23 | — | $11.2M | ||
| Q2 23 | — | $13.8M | ||
| Q1 23 | — | $1.7M | ||
| Q4 22 | — | $4.2M |
| Q4 25 | — | $-3.9M | ||
| Q3 25 | — | $-3.0M | ||
| Q3 24 | $6.0M | $2.3M | ||
| Q4 23 | — | $8.1M | ||
| Q3 23 | — | $10.3M | ||
| Q2 23 | — | $12.3M | ||
| Q1 23 | — | $3.7M | ||
| Q4 22 | — | $5.9M |
| Q4 25 | — | $2.3M | ||
| Q3 25 | — | $3.2M | ||
| Q3 24 | $13.1M | $4.3M | ||
| Q4 23 | — | $11.3M | ||
| Q3 23 | — | $13.6M | ||
| Q2 23 | — | $16.1M | ||
| Q1 23 | — | $5.3M | ||
| Q4 22 | — | $7.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.6M | $-1.4M |
| Free Cash FlowOCF − Capex | $-1.6M | — |
| FCF MarginFCF / Revenue | -392.9% | — |
| Capex IntensityCapex / Revenue | 4.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.4M | ||
| Q3 25 | — | $-200.0K | ||
| Q3 24 | $-1.6M | $-2.6M | ||
| Q4 23 | — | $-2.4M | ||
| Q3 23 | — | $-2.5M | ||
| Q2 23 | — | $-637.0K | ||
| Q1 23 | — | $-2.4M | ||
| Q4 22 | — | $-2.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q3 24 | $-1.6M | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | $-2.6M | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | $-2.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q3 24 | -392.9% | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | -85200.0% | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | 11130.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q3 24 | 4.4% | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | 200.0% | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | -60.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
