Summit Therapeutics Inc. (SMMT) Income Statement
SMMT 2025 at a glance
Fiscal year ended December 31, 2025 · British poundsSMMT revenue and net income
SMMT profit margins
SMMT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SMMT income statement in British pounds
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £0 | £0 | £0 | £583,190 | £1.8M | £628,875 | £43.0M | £57.1M | £14.2M | £2.4M |
| Cost of revenue | £108,355 | £15.0M | £2.0M | £2.5M | £0 | £0 | £199,498 | £24,919 | £97,667 | £61,651 |
| Gross profit | −£108,355 | −£15.0M | −£2.0M | £583,190 | £1.8M | £628,875 | £43.0M | £56.4M | £14.2M | £2.4M |
| Research & development | £537.7M | £132.4M | £455.3M | £43.0M | £85.4M | £39.0M | £39.2M | £49.1M | £29.0M | £19.0M |
| Sales, general & admin | £556.7M | £48.3M | £25.8M | £22.1M | £23.6M | £14.1M | £9.3M | £16.2M | £11.9M | £8.3M |
| Total operating expenses | £1.09B | £180.5M | £478.2M | £60.2M | £88.0M | £39.5M | −£39.2M | £51.7M | £40.0M | £27.2M |
| Operating income | −£1.09B | −£180.5M | −£478.2M | −£59.6M | −£86.2M | −£71.6M | £15.2M | £5.4M | −£25.8M | −£24.9M |
| Interest income | — | £13.5M | £10.4M | £1.5M | £0 | £4,000 | — | £5,246 | £15,570 | £10,000 |
| Interest expense | £0 | £8.7M | £16.5M | £4.4M | £281,000 | £255,000 | £41,751 | £620,000 | £1.6M | £1.1M |
| Income before taxes | −£1.08B | −£176.8M | −£482.4M | −£65.2M | −£88.6M | −£62.3M | £5.0M | £9.1M | −£23.9M | −£25.7M |
| Income taxes | — | −£313,000 | −£946,000 | −£4.5M | −£2.5M | −£9.6M | −£3.8M | −£1.8M | −£3.5M | −£5.4M |
| Net income | −£1.08B | −£176.8M | −£482.4M | −£65.2M | −£86.1M | −£38.5M | £5.0M | £10.9M | −£20.2M | −£21.4M |
| EBITDA | −£1.08B | −£168.4M | −£69.4M | −£51.4M | −£83.7M | −£36.3M | £15.7M | £11.7M | −£26.2M | −£24.8M |
| Gross margin | — | — | — | 100.0% | 100.0% | 100.0% | 100.0% | 98.8% | 100.0% | 100.0% |
| Operating margin | — | — | — | −10,225.4% | −4,764.3% | −11,392.7% | 35.2% | 9.4% | −182.3% | −1,046.0% |
| Net margin | — | — | — | −11,174.8% | −4,762.1% | −6,127.6% | 11.6% | 19.0% | −142.3% | −899.5% |
| Mar '26 | Dec '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £235,000 | £0 |
| Cost of revenue | £44,000 | £4,355 | £37,000 | £25,000 | £14.9M | £19,999 | £20,000 | £27,000 | £605,000 | £599,000 | £471,000 | £375,000 |
| Gross profit | −£44,000 | −£4,355 | −£37,000 | −£25,000 | −£14.9M | −£19,999 | −£20,000 | −£27,000 | −£840,000 | −£599,000 | −£236,000 | −£375,000 |
| Research & development | £132.6M | £147.3M | £131.1M | £39.7M | £41.0M | £28.2M | £36.2M | £24.5M | £19.5M | £12.6M | £7.4M | £430.3M |
| Sales, general & admin | £62.6M | £77.6M | £103.1M | £12.1M | £11.6M | £15.3M | £10.9M | £9.1M | £9.1M | £4.5M | £5.0M | £5.6M |
| Total operating expenses | £195.2M | £224.9M | £234.2M | £51.7M | £52.4M | £43.7M | £47.2M | £33.6M | £28.4M | £16.8M | £12.4M | £435.4M |
| Operating income | −£195.2M | −£224.9M | −£234.2M | −£51.7M | −£52.4M | −£43.7M | −£47.2M | −£33.6M | −£28.4M | −£16.8M | −£12.4M | −£435.4M |
| Interest income | — | — | — | — | — | — | — | — | £2.4M | £2.4M | £2.5M | £3.3M |
| Interest expense | — | £0 | £0 | £0 | £9,000 | £2.5M | £3.1M | £3.1M | £2.9M | £2.7M | £2.5M | £8.3M |
| Income before taxes | −£189.4M | −£219.1M | −£231.8M | −£48.7M | −£48.9M | −£42.1M | −£47.8M | −£34.5M | −£28.7M | −£17.4M | −£11.6M | −£439.6M |
| Income taxes | — | — | — | — | £24,000 | £264,000 | −£159,000 | £3.1M | −£199,000 | −£265,000 | £39,000 | £1.04B |
| Net income | −£189.4M | −£219.2M | −£231.8M | −£48.7M | −£48.9M | −£42.1M | −£47.8M | −£34.5M | −£28.7M | −£17.4M | −£11.6M | −£439.6M |
| EBITDA | −£189.4M | −£219.1M | −£231.8M | −£48.7M | −£48.9M | −£39.6M | −£35.3M | −£31.3M | −£25.2M | −£14.7M | −£9.0M | −£13.1M |
| Gross margin | — | — | — | — | — | — | — | — | — | — | −100.4% | — |
| Operating margin | — | — | — | — | — | — | — | — | — | — | −5,292.2% | — |
| Net margin | — | — | — | — | — | — | — | — | — | — | −4,931.3% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in British pounds as reported in SMMT's financial statements (latest annual report filed February 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SMMT financial results
Summit Therapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of £1.1 billion. Figures are in British pounds, the currency of its financial statements.
See the SMMT stock overview for the latest quote and news, or the SMMT chart for price history and technical indicators.
SMMT income statement FAQ
Does Summit Therapeutics have revenue?
Summit Therapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Summit Therapeutics profitable?
No. Summit Therapeutics reported a net loss of £1.1 billion in fiscal 2025.
How much does Summit Therapeutics spend on research and development?
Summit Therapeutics spent £537.7 million on research and development in fiscal 2025.
When will Summit Therapeutics report its next earnings?
Summit Therapeutics is expected to report results for the quarter ending September 30, 2026 on October 19, 2026 after the market closes.
When does Summit Therapeutics's fiscal year end?
Summit Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 23, 2026.