SMMT financial statements

The full income statement, balance sheet, and cash-flow statement for Summit Therapeutics Inc. Common Stock (SMMT), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 724.5M2024-09 737.4M2024-12 737.7M2025-03 742.7M2025-06 742.8M2025-09 744.4M2025-12 775.4M2026-03 776.2M2026-06 797.7M+10.1% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	—	0.00	0.00 YoY-100.0%	705K YoY-61.0%	1.81M YoY+110.3%
	1.09B YoY+384.3%	226M YoY-62.9%	610M YoY+599.1%	87.2M YoY-20.0%	109M YoY+48.5%
Research & development	538M YoY+256.6%	151M YoY+153.5%	59.5M YoY+14.4%	52.0M YoY-39.1%	85.4M YoY+60.2%
Selling, general & administrative	557M YoY+824.6%	60.2M YoY+105.8%	29.3M YoY+9.4%	26.7M YoY+13.3%	23.6M YoY+22.8%
General & administrative	557M YoY+824.6%	60.2M YoY+105.8%	29.3M YoY+9.4%	26.7M YoY+13.3%	23.6M YoY+22.8%
Amortization of intangibles	—	0.00	0.00 YoY-100.0%	914K YoY-10.1%	1.02M YoY-18.6%
Operating income	—	-226M YoY+62.9%	-610M YoY-745.7%	-72.1M YoY+16.4%	-86.2M YoY-62.0%
Interest expense	0.00 YoY-100.0%	8.69M YoY-47.2%	16.5M YoY+274.0%	4.40M YoY+1718.6%	242K YoY-5.1%
Interest & investment income	—	—	—	1.51M	0.00 YoY-100.0%
Other non-operating income	14.8M	0.00 YoY+100.0%	-252K YoY-182.9%	304K YoY+112.6%	-2.42M YoY-953.7%
Pre-tax income	-1.08B YoY-387.8%	-221M YoY+64.0%	-615M YoY-680.5%	-78.8M YoY+11.1%	-88.6M YoY-67.5%
Income tax	0.00	0.00	0.00	—	0.00 YoY+100.0%
Net income	-1.08B YoY-387.8%	-221M YoY+64.0%	-615M YoY-680.5%	-78.8M YoY+11.1%	-88.6M YoY-68.1%
	-$1.44 YoY-364.5%	-$0.31 YoY+68.7%	-$0.99 YoY-141.5%	-$0.41 YoY+38.8%	-$0.67 YoY+11.8%
EPS (basic)	-$1.44 YoY-364.5%	-$0.31 YoY+68.7%	-$0.99 YoY-141.5%	-$0.41 YoY+38.8%	-$0.67 YoY+11.8%
	748M YoY+4.1%	719M YoY+16.0%	620M YoY+220.5%	193M YoY+46.8%	132M YoY+89.5%
	748M YoY+4.1%	719M YoY+16.0%	620M YoY+220.5%	193M YoY+46.8%	132M YoY+89.5%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	720M YoY+70.0%	424M YoY+123.4%	190M YoY-71.1%	657M YoY+574.9%	97.3M YoY+11.0%
Cash & equivalents	225M YoY+114.8%	105M YoY+46.8%	71.4M YoY-79.5%	349M YoY+385.6%	71.8M YoY+8.1%
Short-term investments	488M YoY+58.8%	307M YoY+167.8%	115M	0.00	—
Cash & short-term investments	—	—	186M	—	—
Accounts receivable	—	—	0.00 YoY-100.0%	349K YoY-76.2%	1.46M YoY+342.3%
Prepaid expenses	6.54M YoY-41.0%	11.1M YoY+322.4%	2.62M YoY+74.3%	1.50M YoY-79.0%	7.16M YoY-25.0%
Other current assets	—	—	181K YoY-62.8%	486K YoY-59.5%	1.20M YoY-21.1%
	751M YoY+72.5%	436M YoY+114.6%	203M YoY-69.4%	664M YoY+485.8%	113M YoY+10.6%
Property, plant & equipment	1.06M YoY+316.9%	254K YoY+24.5%	204K YoY-77.5%	906K YoY+30.5%	694K YoY-4.3%
Operating lease right-of-use	20.6M YoY+188.6%	7.14M YoY+21.9%	5.86M YoY+40.3%	4.17M YoY+49.6%	2.79M YoY+403.6%
Goodwill	2.00M YoY+7.3%	1.86M YoY-1.5%	1.89M YoY+5.3%	1.80M YoY-10.5%	2.01M YoY-1.0%
Intangible assets	—	0.00	0.00	0.00 YoY-100.0%	10.4M YoY-9.7%
Other non-current assets	7.21M YoY+182.8%	2.55M YoY-41.0%	4.32M YoY+649.0%	577K YoY+239.4%	170K
	73.0M YoY+74.9%	41.7M YoY+104.5%	20.4M YoY-47.4%	38.8M YoY+51.4%	25.6M YoY+28.8%
Accounts payable	20.3M YoY+337.7%	4.64M YoY+73.8%	2.67M YoY+651.3%	355K YoY-91.9%	4.37M YoY-28.8%
Accrued liabilities	32.1M YoY+64.2%	19.6M YoY+122.6%	8.78M YoY-17.6%	10.7M YoY+48.2%	7.20M YoY+119.6%
Deferred revenue	—	—	—	0.00 YoY-100.0%	7.94M YoY-5.1%
Current lease liability	3.39M YoY-10.0%	3.77M YoY+34.0%	2.81M YoY+66.2%	1.69M YoY+54.9%	1.09M YoY+179.7%
Other current liabilities	2.28M YoY+27.0%	1.80M YoY+150.6%	717K YoY+8.3%	662K YoY-26.2%	897K YoY+23.0%
	92.3M YoY+97.2%	46.8M YoY-62.6%	125M YoY-76.7%	538M YoY+1686.4%	30.1M YoY+30.6%
Deferred revenue (non-current)	—	—	—	0.00	0.00 YoY-100.0%
Non-current lease liability	17.5M YoY+406.9%	3.45M YoY+5.0%	3.29M YoY+19.1%	2.76M YoY+63.4%	1.69M YoY+2154.7%
Operating lease liability (total)	20.9M YoY+189.4%	7.22M YoY+18.3%	6.10M YoY+37.0%	4.45M YoY+60.1%	2.78M YoY+498.3%
Other non-current liabilities	1.83M YoY+12.4%	1.63M YoY+4.4%	1.56M YoY+9.3%	1.43M YoY-48.5%	2.78M YoY+10.6%
	659M YoY+69.5%	389M YoY+400.4%	77.7M YoY-38.7%	127M YoY+52.1%	83.3M YoY+4.8%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	7.75M YoY+5.1%	7.38M YoY+5.1%	7.02M YoY+232.6%	2.11M YoY+115.3%	980K YoY+18.6%
Additional paid-in capital	2.95B YoY+84.4%	1.60B YoY+49.9%	1.07B YoY+111.3%	505M YoY+31.4%	384M YoY+30.9%
Retained earnings	-2.29B YoY-88.9%	-1.21B YoY-22.3%	-993M YoY-162.5%	-378M YoY-26.3%	-300M YoY-42.0%
Accumulated other comprehensive income	-2.54M YoY-11.2%	-2.29M YoY+6.7%	-2.45M YoY-29.3%	-1.89M YoY+13.8%	-2.20M YoY+42.1%
Total liabilities & equity	751M YoY+72.5%	436M YoY+114.6%	203M YoY-69.4%	664M YoY+485.8%	113M YoY+10.6%
	775M YoY+5.1%	738M YoY+5.1%	702M YoY+232.4%	211M YoY+115.3%	98.0M YoY+18.7%
	775M YoY+5.1%	738M YoY+5.1%	702M YoY+232.4%	211M YoY+115.3%	98.0M YoY+18.7%
	775M YoY+5.1%	738M YoY+5.1%	702M YoY+0.6%	698M YoY+611.0%	98.1M YoY+18.3%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	-323M YoY-127.2%	-142M YoY-85.1%	-76.8M YoY-84.6%	-41.6M YoY+42.7%	-72.6M YoY-50.9%
Depreciation & amortization	146K YoY+64.0%	89.0K YoY-55.1%	198K YoY-84.3%	1.26M YoY-6.2%	1.35M YoY-13.2%
Intangible amortization	—	0.00	0.00 YoY-100.0%	914K YoY-10.1%	1.02M YoY-18.6%
Share-based compensation	732M YoY+1336.7%	51.0M YoY+261.4%	14.1M YoY+18.1%	11.9M YoY-6.7%	12.8M YoY+625.0%
Deferred income taxes	—	—	—	—	0.00
Change in receivables	—	0.00 YoY+100.0%	-359K YoY+63.2%	-975K YoY-185.7%	1.14M YoY+636.8%
Change in payables	15.3M YoY+659.5%	2.02M YoY-11.0%	2.26M YoY+154.8%	-4.13M YoY-141.5%	-1.71M YoY-204.2%
	-174M YoY+15.1%	-205M YoY+65.1%	-588M YoY-94094.6%	-624K YoY-103.9%	-306K YoY+27.3%
Capital expenditure	657K YoY+372.7%	139K YoY+8.6%	128K YoY-79.5%	624K YoY+103.9%	306K YoY-27.3%
Free cash flow	-324M YoY-127.5%	-142M YoY-85.0%	-76.9M YoY-82.2%	-42.2M YoY+42.1%	-72.9M YoY-50.2%
Acquisitions	0.00	0.00	0.00	0.00	0.00
Proceeds from sale of PP&E	0.00	0.00 YoY-100.0%	226K	0.00	—
	618M YoY+62.0%	381M YoY+340.7%	86.5M YoY-86.1%	620M YoY+696.0%	77.9M YoY+54.1%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00 YoY-100.0%	105M YoY+4.7%	100M YoY+33.3%	75.0M YoY+50.0%
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
FX effect on cash	—	—	—	—	351K YoY-36.9%
Net change in cash	120M YoY+256.6%	33.8M YoY+105.8%	-577M YoY-200.1%	577M YoY+10633.5%	5.37M YoY+108.7%
Interest paid	0.00 YoY-100.0%	8.81M YoY-17.3%	10.7M YoY+2353.9%	434K YoY+410.6%	85.0K
Income taxes paid	0.00	0.00 YoY-100.0%	52.0K	0.00 YoY-100.0%	7.00K YoY+110.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	13.6B YoY+3.0%	13.2B YoY+619.7%	1.83B YoY+113.8%	856M YoY+224.2%	264M YoY-32.3%
P/S	—	—	—	895.0× YoY+513.4%	145.9× YoY-67.8%
P/B	20.6× YoY-39.2%	33.9× YoY+84.0%	18.4× YoY+186.6%	6.4× YoY+102.6%	3.2× YoY-35.4%
Source filing	10-K	10-K	10-K	10-K	10-K/A

About this data

Source: SMMT's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SMMT filings on SEC EDGAR → Not investment advice.