SMMT net incomeQ3 2026-$208.38M
SMMT net income was -$208.38M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$231.79M a year earlier. For the full fiscal 2025 it was -$1.08B, compared with -$221.31M in fiscal 2024.
Summit Therapeutics Inc. (SMMT) financials
For the twelve months ended Sep 30, 2026, Summit Therapeutics Inc. reported -$832.68M of net income.
- Net income, TTM
- -$832.68M
- Free cash flow, TTM
- -$526.88M
- EPS, diluted, TTM
- -$1.06
- Cash
- $150.81M
- Market cap
- $13.06B
FY2019FY2024
FY2019FY2025
FY2019FY2025
SMMT revenue and earnings growth
SMMT EPSQ3 2026-$0.26
SMMT diluted EPS was -$0.26 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.31 a year earlier. For the full fiscal 2025 it was -$1.44, compared with -$0.31 in fiscal 2024.
SMMT free cash flowQ3 2026-$160.21M
SMMT free cash flow was -$160.21M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$93.15M a year earlier. For the full fiscal 2025 it was -$323.59M, compared with -$142.25M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Jan 31, 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | - | $0 | $0 | $705.0K | $1.81M | $860.0K | $57.09M |
| Research and development | $537.67M | $150.78M | $59.47M | $52.00M | $85.35M | $53.27M | $52.00M |
| Selling, general and admin | $556.75M | $60.21M | $29.26M | $26.74M | $23.61M | $19.23M | $17.01M |
| Operating income | - | -$226.00M | -$609.65M | -$72.09M | -$86.19M | -$53.19M | $5.39M |
| Interest expense | $0 | $8.69M | $16.46M | $4.40M | $242.0K | $255.0K | $620.0K |
| Pre-tax income | -$1.08B | -$221.31M | -$614.93M | -$78.78M | -$88.60M | -$52.91M | $9.08M |
| Income tax | $0 | $0 | $0 | - | $0 | -$213.0K | -$1.79M |
| Net income | -$1.08B | -$221.31M | -$614.93M | -$78.78M | -$88.60M | -$52.70M | $10.87M |
| EPS, basic | -$1.44 | -$0.31 | -$0.99 | -$0.41 | -$0.48 | -$0.54 | $0.45 |
| EPS, diluted | -$1.44 | -$0.31 | -$0.99 | -$0.41 | -$0.48 | -$0.54 | $0.45 |
| Diluted shares | 747.7M | 718.5M | 619.6M | 193.3M | 184.4M | 97.3M | 24.1M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Jan 31, 2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $225.27M | $105.19M | $71.42M | $648.61M | $71.79M | $66.42M | $35.24M |
| Short-term investments | $488.18M | $307.49M | $114.82M | $0 | - | - | - |
| Receivables | - | - | $0 | $349.0K | $1.46M | $331.0K | - |
| Current assets | $720.30M | $423.75M | $189.71M | $656.71M | $97.31M | $87.67M | - |
| Goodwill | $2.00M | $1.86M | $1.89M | $1.80M | $2.01M | $2.03M | $1.95M |
| Total assets | $751.18M | $435.56M | $202.95M | $664.17M | $113.37M | $102.50M | - |
| Current liabilities | $72.99M | $41.73M | $20.41M | $38.78M | $25.62M | $19.89M | - |
| Total liabilities | $92.32M | $46.81M | $125.26M | $537.51M | $30.09M | $23.05M | - |
| Shareholders' equity | $658.86M | $388.75M | $77.69M | $126.65M | $83.28M | $79.45M | $57.59M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Jan 31, 2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$322.93M | -$142.11M | -$76.76M | -$41.58M | -$72.59M | -$48.11M | -$35.11M |
| Capital expenditures | $657.0K | $139.0K | $128.0K | $624.0K | $306.0K | $421.0K | $157.0K |
| Free cash flow | -$323.59M | -$142.25M | -$76.89M | -$42.21M | -$72.89M | -$48.53M | -$35.26M |
| Investing cash flow | -$174.31M | -$205.34M | -$587.77M | -$624.0K | -$306.0K | -$421.0K | -$331.0K |
| Financing cash flow | $617.53M | $381.23M | $86.51M | $620.24M | $77.92M | $50.55M | $44.51M |
| Dividends paid | - | - | - | - | - | $0 | $0 |
| Stock-based compensation | $732.42M | $50.98M | $14.11M | $11.95M | $12.80M | $1.77M | $6.29M |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Jan 31, 2019 |
|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | -100.0% | -61.0% | 110.3% | -98.5% | - |
| Operating margin | - | - | - | -10225.4% | -4764.3% | -6185.2% | 9.4% |
| Net margin | - | - | - | -11174.8% | -4897.8% | -6127.6% | 19.0% |
| Free cash flow margin | - | - | - | -5986.7% | -4029.5% | -5643.3% | -61.8% |
| Return on equity | -163.9% | -56.9% | -791.5% | -62.2% | -106.4% | -66.3% | 18.9% |
| Return on assets | -143.7% | -50.8% | -303.0% | -11.9% | -78.2% | -51.4% | - |
| Current ratio | 9.87 | 10.15 | 9.30 | 16.93 | 3.80 | 4.41 | - |
Income statement
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | $0 | $0 | - | - | $0 |
| Research and development | $169.13M | $157.73M | $132.62M | $147.29M | $131.10M | $208.02M | $51.27M | $51.38M | $37.72M | $30.80M | $30.87M | $24.81M |
| Selling, general and admin | $45.48M | $62.76M | $62.59M | $77.63M | $103.11M | $360.42M | $15.59M | $14.23M | $20.65M | $13.81M | $11.52M | $10.57M |
| Operating income | - | - | - | - | - | - | - | -$65.61M | -$58.38M | -$59.62M | -$42.39M | -$36.21M |
| Interest expense | - | - | - | $0 | $0 | $0 | $0 | $9.0K | $2.45M | $3.10M | $3.12M | - |
| Net income | -$208.38M | -$215.70M | -$189.42M | -$219.17M | -$231.79M | -$565.71M | -$62.91M | -$61.20M | -$56.25M | -$60.38M | -$43.47M | -$36.57M |
| EPS, basic | -$0.26 | -$0.28 | -$0.24 | -$0.28 | -$0.31 | -$0.76 | -$0.09 | -$0.08 | -$0.08 | -$0.09 | -$0.06 | - |
| EPS, diluted | -$0.26 | -$0.28 | -$0.24 | -$0.28 | -$0.31 | -$0.76 | -$0.09 | -$0.08 | -$0.08 | -$0.09 | -$0.06 | - |
| Diluted shares | 798.2M | 778.2M | 775.5M | - | 743.4M | 742.6M | 738.1M | - | 726.7M | 707.9M | 701.8M | - |
Balance sheet
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $150.81M | $419.37M | $106.52M | $225.27M | $238.55M | $297.87M | $211.53M | $105.19M | $93.78M | $28.43M | $61.29M | $71.42M |
| Short-term investments | $478.98M | $271.31M | $492.22M | $488.18M | $0 | $0 | $149.79M | $307.49M | $393.12M | $297.04M | $95.39M | $114.82M |
| Receivables | - | - | - | - | - | - | - | - | - | - | - | $0 |
| Current assets | $660.73M | $720.58M | $616.60M | $720.30M | $246.47M | $309.24M | $370.75M | $423.75M | $490.29M | $328.79M | $163.26M | $189.71M |
| Goodwill | $1.98M | $1.97M | $1.97M | $2.00M | $2.00M | $2.04M | $1.92M | $1.86M | $1.99M | $1.88M | $1.88M | $1.89M |
| Total assets | $692.85M | $752.18M | $647.86M | $751.18M | $261.73M | $324.04M | $383.82M | $435.56M | $502.85M | $341.86M | $176.78M | $202.95M |
| Current liabilities | $110.23M | $103.57M | $83.27M | $72.99M | $64.93M | $60.33M | $34.88M | $41.73M | $59.01M | $140.17M | $23.44M | $20.41M |
| Total liabilities | $128.17M | $122.20M | $101.92M | $92.32M | $69.47M | $64.60M | $39.49M | $46.81M | $64.93M | $146.78M | $132.57M | $125.26M |
| Shareholders' equity | $564.68M | $629.98M | $545.93M | $658.86M | $192.26M | $259.44M | $344.33M | $388.75M | $437.92M | $195.07M | $44.21M | $77.69M |
Cash flow
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$159.81M | -$141.12M | -$122.29M | -$101.94M | -$93.08M | -$66.74M | -$61.17M | -$48.67M | -$30.30M | -$33.00M | -$30.13M | -$19.46M |
| Capital expenditures | $396.0K | $909.0K | $245.0K | $164.0K | $71.0K | $0 | $422.0K | $14.0K | $58.0K | $63.0K | $4.0K | $2.0K |
| Free cash flow | -$160.21M | -$142.03M | -$122.54M | -$102.10M | -$93.15M | -$66.74M | -$61.59M | -$48.69M | -$30.36M | -$33.06M | -$30.14M | -$19.46M |
| Investing cash flow | -$204.16M | $222.90M | -$238.0K | -$485.16M | -$71.0K | $150.81M | $160.11M | $83.48M | -$108.61M | -$200.08M | $19.87M | $60.57M |
| Financing cash flow | $95.43M | $231.08M | $3.80M | $573.82M | $33.81M | $2.22M | $7.68M | -$23.61M | $204.14M | $200.21M | $485.0K | $6.25M |
| Stock-based compensation | $47.69M | $68.71M | $72.79M | $111.78M | $130.76M | $478.78M | $11.10M | $11.02M | $19.37M | $11.09M | $9.51M | $8.75M |
Key ratios
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 5.99 | 6.96 | 7.41 | 9.87 | 3.80 | 5.13 | 10.63 | 10.15 | 8.31 | 2.35 | 6.97 | 9.30 |
Source: XBRL data Summit Therapeutics Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 7-for-5, first reported Aug 9, 2023.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
SMMT peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| SMMT | - | - | -$832.68M | - | $13.06B |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.27T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $664.95B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $514.92B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $361.71B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $310.17B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $289.10B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $190.39B |
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $178.51B |
SMMT FAQ
6 questionsIs SMMT profitable?
No. Summit Therapeutics Inc. reported a net loss of $832.68M for the twelve months ended Sep 30, 2026.How much cash and debt does SMMT have?
Summit Therapeutics Inc. reported $150.81M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is SMMT free cash flow?
Summit Therapeutics Inc. generated -$526.88M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$525.17M less capital expenditures.What is SMMT earnings per share?
Diluted earnings per share were -$1.06 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.When did SMMT last report financial results?
The latest statements here come from Summit Therapeutics Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.Where does this SMMT financial data come from?
Quantisnow builds these statements from the structured XBRL data Summit Therapeutics Inc. files with the SEC. It is provided for information only and is not investment advice.