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Side-by-side financial comparison of Pineapple Financial Inc. (PAPL) and SmartKem, Inc. (SMTK). Click either name above to swap in a different company.
Pineapple Financial Inc. is the larger business by last-quarter revenue ($707.3K vs $561.0K, roughly 1.3× SmartKem, Inc.). SmartKem, Inc. runs the higher net margin — -366.3% vs -2756.2%, a 2389.9% gap on every dollar of revenue.
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.
PAPL vs SMTK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $707.3K | $561.0K |
| Net Profit | $-19.5M | $-2.1M |
| Gross Margin | 48.9% | 57.6% |
| Operating Margin | -2518.8% | -380.7% |
| Net Margin | -2756.2% | -366.3% |
| Revenue YoY | -4.8% | — |
| Net Profit YoY | -3174.1% | 23.7% |
| EPS (diluted) | $-1.21 | $-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.
| Q1 26 | $707.3K | — | ||
| Q4 25 | $721.7K | $561.0K | ||
| Q3 25 | $730.5K | $81.0K | ||
| Q2 25 | $746.9K | — | ||
| Q1 25 | $743.3K | — | ||
| Q4 24 | $766.1K | — | ||
| Q3 24 | $598.3K | $0 | ||
| Q2 24 | $736.4K | — |
| Q1 26 | $-19.5M | — | ||
| Q4 25 | $-6.4M | $-2.1M | ||
| Q3 25 | $-1.8M | $-3.9M | ||
| Q2 25 | $-557.7K | — | ||
| Q1 25 | $-595.4K | — | ||
| Q4 24 | $-656.9K | — | ||
| Q3 24 | $-1.7M | $-2.8M | ||
| Q2 24 | $-848.6K | — |
| Q1 26 | 48.9% | — | ||
| Q4 25 | 49.6% | 57.6% | ||
| Q3 25 | 27.8% | 93.8% | ||
| Q2 25 | 67.6% | — | ||
| Q1 25 | 43.4% | — | ||
| Q4 24 | 45.9% | — | ||
| Q3 24 | 43.2% | — | ||
| Q2 24 | 44.2% | — |
| Q1 26 | -2518.8% | — | ||
| Q4 25 | -909.1% | -380.7% | ||
| Q3 25 | -131.3% | -3937.0% | ||
| Q2 25 | -93.3% | — | ||
| Q1 25 | -80.6% | — | ||
| Q4 24 | -90.5% | — | ||
| Q3 24 | -232.8% | — | ||
| Q2 24 | -121.7% | — |
| Q1 26 | -2756.2% | — | ||
| Q4 25 | -891.6% | -366.3% | ||
| Q3 25 | -250.3% | -4839.5% | ||
| Q2 25 | -74.7% | — | ||
| Q1 25 | -80.1% | — | ||
| Q4 24 | -85.7% | — | ||
| Q3 24 | -283.9% | — | ||
| Q2 24 | -115.2% | — |
| Q1 26 | $-1.21 | — | ||
| Q4 25 | $-4.79 | $-0.22 | ||
| Q3 25 | $-0.93 | $-0.45 | ||
| Q2 25 | $-0.05 | — | ||
| Q1 25 | $-1.73 | — | ||
| Q4 24 | $-2.60 | — | ||
| Q3 24 | $-11.10 | $-0.86 | ||
| Q2 24 | $-0.12 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $374.0K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $27.1M | $-3.9M |
| Total Assets | $48.9M | $2.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $374.0K | ||
| Q3 25 | — | $881.0K | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.8M | ||
| Q2 24 | — | — |
| Q1 26 | $27.1M | — | ||
| Q4 25 | $-5.5M | $-3.9M | ||
| Q3 25 | $906.7K | $-3.0M | ||
| Q2 25 | $842.6K | — | ||
| Q1 25 | $739.7K | — | ||
| Q4 24 | $1.3M | — | ||
| Q3 24 | $1.3M | $2.3M | ||
| Q2 24 | $2.0M | — |
| Q1 26 | $48.9M | — | ||
| Q4 25 | $10.6M | $2.3M | ||
| Q3 25 | $5.4M | $3.2M | ||
| Q2 25 | $4.7M | — | ||
| Q1 25 | $4.0M | — | ||
| Q4 24 | $4.1M | — | ||
| Q3 24 | $4.1M | $4.3M | ||
| Q2 24 | $4.3M | — |
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 | $-3.3M | $-1.4M |
| Free Cash FlowOCF − Capex | $-3.3M | — |
| FCF MarginFCF / Revenue | -462.7% | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-3.3M | — | ||
| Q4 25 | $-489.7K | $-1.4M | ||
| Q3 25 | $-507.6K | $-200.0K | ||
| Q2 25 | $397.0K | — | ||
| Q1 25 | $-172.6K | — | ||
| Q4 24 | $-663.6K | — | ||
| Q3 24 | $-264.7K | $-2.6M | ||
| Q2 24 | $123.0K | — |
| Q1 26 | $-3.3M | — | ||
| Q4 25 | $-491.7K | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-264.7K | — | ||
| Q2 24 | $122.7K | — |
| Q1 26 | -462.7% | — | ||
| Q4 25 | -68.1% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -44.2% | — | ||
| Q2 24 | 16.7% | — |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 0.3% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
