SLGL Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
Sol-Gel Technologies Ltd. had $19.4M of revenue in fiscal 2025, up 68.0% on the year before. Over five years, revenue changed +17.2% a year on average.
Hi! I read Sol-Gel Technologies Ltd.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+68.0%
Yes. Sales grew 68.0% last year.
Does it make a profit?
β31.6%
No. It lost money last year.
Does profit turn into cash?
1.4%
Partly. 1.4% of sales ends up as free cash.
How healthy are the accounts?
4 / 7
Mixed. It passes 4 of 7 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Sol-Gel Technologies Ltd. did it, and the next one. Share prices often move a lot on those days.
Next results
November 19, 2026
Thursday Β· in 25 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Mar 19, 2026 | Period ended Dec 31, 2025 | Before the market opens | 20-F β |
| Apr 29, 2025 | Period ended Dec 31, 2024 | Before the market opens | 20-F β |
| Mar 13, 2024 | Period ended Dec 31, 2023 | Before the market opens | 20-F β |
| Mar 10, 2023 | Period ended Dec 31, 2022 | Before the market opens | 20-F β |
| Apr 4, 2022 | Period ended Dec 31, 2021 | Before the market opens | 20-F β |
| Mar 4, 2021 | Period ended Dec 31, 2020 | Before the market opens | 20-F β |
| Mar 24, 2020 | Period ended Dec 31, 2019 | After the market closes | 20-F β |
| Mar 21, 2019 | Period ended Dec 31, 2018 | After the market closes | 20-F β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Sol-Gel Technologies Ltd. had $19.4M of revenue in fiscal 2025, up 68.0% on the year before. Over five years, revenue changed +17.2% a year on average. Its operating margin was β38.9%, up 65.2Β pts: of every 100 in sales, about β39 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Sol-Gel Technologies Ltd. lost $6.1M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $0.3M in fiscal 2025, 1.4% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Sol-Gel Technologies Ltd. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $21.8M | $21.1M | $28.0M | $23.9M | $24.0M |
| Current ratio | 4.9x | 12.9x | 9.1x | 5.9x | 4.4x |
| Quick ratio | 4.9x | 12.9x | 9.1x | 5.9x | 4.4x |
| Total assets | $69.2M | $46.6M | $45.3M | $35.8M | $29.9M |
| Total liabilities | $13.6M | $4.4M | $6.6M | $7.0M | $7.1M |
| Shareholders' equity | $55.6M | $42.2M | $38.6M | $28.9M | $22.8M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Sol-Gel Technologies Ltd. passes 4 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 2 / 7 | 3 / 7 | 3 / 7 | 2 / 7 | 3 / 7 | 3 / 7 | 2 / 7 | 2 / 7 | 4 / 7 |
| Accruals ratio | β20.7% | β56.9% | β20.6% | β3.2% | β6.7% | 17.0% | β9.4% | β20.7% | 8.2% | β19.6% |
| Altman Z'' | β52.28 | β59.24 | 8.18 | 0.58 | β1.74 | 0.49 | β0.21 | β8.79 | β14.16 | β19.59 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | β | $0.2M | $0.1M | $22.9M | $8.8M | $31.3M | $3.9M | $1.6M | $11.5M | $19.4M |
| Research and development | $17.0M | $25.8M | $28.1M | $40.6M | $27.9M | $20.4M | $12.7M | $23.5M | $17.8M | $22.8M |
| Operating income | β$20.8M | β$31.6M | β$33.5M | β$26.0M | β$30.2M | $3.0M | β$16.2M | β$29.3M | β$12.0M | β$7.5M |
| Pretax income | β | β$31.6M | β$32.2M | β$24.6M | β$29.3M | $3.2M | β | β | β | β |
| Income tax | β | β | β | $0.0M | $0.0M | $0.0M | β | $0.0M | $0.0M | $0.0M |
| Net income | β$20.8M | β$31.6M | β$32.2M | β$24.6M | β$29.3M | $3.2M | β$14.9M | β$27.2M | β$10.6M | β$6.1M |
| Diluted EPS | $3.30 | $5.02 | $1.80 | β$1.26 | β$1.30 | $0.14 | β$0.65 | β$10.01 | β$3.79 | β$2.19 |
| Diluted shares | 0.01B | 0.01B | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||||||||
| Cash from operations | β$18.5M | β$24.1M | β$23.5M | β$22.5M | β$25.2M | β$7.7M | β$9.5M | β$17.7M | β$13.9M | $0.3M |
| Capital expenditure | $0.4M | $1.9M | $1.1M | $0.6M | $0.4M | $0.1M | $0.2M | $0.1M | $0.0M | $0.0M |
| Free cash flow | β$18.9M | β$26.0M | β$24.5M | β$23.1M | β$25.7M | β$7.8M | β$9.7M | β$17.9M | β$13.9M | $0.3M |
| Depreciation and amortization | $0.4M | $0.5M | $0.8M | $0.9M | $0.9M | $0.9M | $0.6M | $0.3M | $0.2M | $0.1M |
| Stock-based compensation | $1.0M | $4.0M | $4.7M | $2.6M | $1.2M | $0.7M | $1.5M | $1.9M | $0.8M | $0.1M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $7.0M | $5.0M | $62.0M | $50.4M | $28.8M | $21.8M | $21.1M | $28.0M | $23.9M | $24.0M |
| Total debt | $37.3M | $65.3M | β | β | β | β | β | β | β | β |
| Current assets | $8.3M | $10.5M | $66.0M | $55.8M | $53.4M | $57.1M | $43.1M | $41.2M | $31.3M | $27.0M |
| Current liabilities | $41.6M | $67.2M | $4.9M | $6.5M | $6.0M | $11.7M | $3.3M | $4.5M | $5.3M | $6.2M |
| Property and equipment, net | $0.8M | $2.3M | $2.6M | $2.3M | $1.8M | $1.1M | $0.7M | $0.4M | $0.2M | $0.1M |
| Total assets | $11.0M | $15.3M | $69.7M | $61.3M | $59.2M | $69.2M | $46.6M | $45.3M | $35.8M | $29.9M |
| Total liabilities | $42.3M | $68.0M | $5.8M | $8.8M | $8.3M | $13.6M | $4.4M | $6.6M | $7.0M | $7.1M |
| Shareholders' equity | β$31.3M | β$52.7M | $63.9M | $52.5M | $50.8M | $55.6M | $42.2M | $38.6M | $28.9M | $22.8M |
| Margins | ||||||||||
| Operating margin | β | β18,179.9% | β25,985.3% | β113.3% | β344.7% | 9.5% | β418.3% | β1,885.8% | β104.1% | β38.9% |
| EBITDA margin | β | β17,909.2% | β25,394.6% | β109.4% | β333.9% | 12.3% | β403.9% | β1,863.8% | β102.1% | β38.3% |
| Net margin | β | β18,142.5% | β24,963.6% | β107.4% | β333.9% | 10.3% | β384.3% | β1,752.8% | β91.7% | β31.6% |
| FCF margin | β | β14,950.6% | β19,007.0% | β100.8% | β292.9% | β25.1% | β248.6% | β1,149.5% | β120.4% | 1.4% |
| Returns | ||||||||||
| Return on capital | β | β328.2% | β | β | β | β | β | β | β | β |
| Return on capital employed | 67.7% | 61.0% | β51.7% | β47.4% | β56.8% | 5.2% | β37.5% | β71.9% | β39.3% | β31.7% |
| Return on equity | β | β | β574.5% | β42.3% | β56.7% | 6.1% | β30.5% | β67.4% | β31.4% | β23.7% |
| Return on assets | β189.1% | β240.1% | β75.8% | β37.6% | β48.6% | 5.0% | β25.8% | β59.3% | β26.1% | β18.6% |
| Return on tangible equity | β | β | β50.4% | β46.9% | β57.6% | 5.8% | β35.4% | β70.5% | β36.7% | β26.9% |
| Growth | ||||||||||
| Revenue growth | β | β | β25.9% | 17,655.0% | β61.7% | 256.5% | β87.6% | β60.0% | 642.5% | 68.0% |
| Net income growth | β | β | β | β | β | β | β563.3% | β | β | β |
| EPS growth | β | 52.1% | β64.1% | β170.0% | β | β | β564.3% | β | β | β |
| Share count change | β | 0.0% | 184.1% | 9.3% | 15.6% | 4.4% | β1.9% | β88.3% | 2.8% | 0.0% |
| Financial health | ||||||||||
| Current ratio | 0.2x | 0.2x | 13.5x | 8.6x | 9.0x | 4.9x | 12.9x | 9.1x | 5.9x | 4.4x |
| Quick ratio | 0.2x | 0.2x | 13.5x | 8.6x | 9.0x | 4.9x | 12.9x | 9.1x | 5.9x | 4.4x |
| Capital allocation | ||||||||||
| Capex / revenue | β | 1,106.3% | 815.5% | 2.6% | 5.1% | 0.5% | 4.4% | 8.6% | 0.0% | 0.2% |
| Stock comp / revenue | β | 2,283.9% | 3,607.8% | 11.1% | 13.9% | 2.2% | 39.3% | 119.6% | 6.8% | 0.4% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 2.0 | 3.0 | 3.0 | 2.0 | 3.0 | 3.0 | 2.0 | 2.0 | 4.0 |
| Altman Z'' | β52.3 | β59.2 | 8.2 | 0.6 | β1.7 | 0.5 | β0.2 | β8.8 | β14.2 | β19.6 |
| Accruals ratio | β20.7% | β56.9% | β20.6% | β3.2% | β6.7% | 17.0% | β9.4% | β20.7% | 8.2% | β19.6% |
Source: SEC EDGAR XBRL filings (CIK 0001684693). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
