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Sol-Gel Technologies Ltd.

SLGL Nasdaq Pharmaceutical Preparations Financials FY2016–FY2025

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.

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What Sol-Gel Technologies Ltd. does

SLGL Β· Pharmaceutical Preparations

From its latest annual report

No business description yet.

Filing details

Legal name
Sol-Gel Technologies Ltd.
Fiscal year ends
December 31, 2025
Latest annual report
20-F Β· Mar 19, 2026
Accession Β· CIK
0001178913-26-001552 Β· 0001684693

Earnings calendar Β· Sol-Gel Technologies Ltd.

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 23 days

Time
Time not announced
Covers
Period ended Sep 30, 2026
Expected EPS
βˆ’$1.54
Source
Earnings calendar
See who else reports that week β†’
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’s summary AI analyst

Hi! I read Sol-Gel Technologies Ltd.’s latest annual report (fiscal 2025). Here is what stands out:

2 strengths 2 to watch

1.Sales and profit

See section 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 βˆ’38.9%, up 65.2Β pts: of every 100 in sales, about βˆ’39 is left after running the business.
  • Sol-Gel Technologies Ltd. lost $6.1M in fiscal 2025.

Sol-Gel Technologies Ltd. in 30 seconds

Good So-so Weak

Good

Are sales growing?

+68.0%

Yes. Sales grew 68.0% last year.

Weak

Does it make a profit?

βˆ’31.6%

No. It lost money last year.

So-so

Does profit turn into cash?

1.4%

Partly. 1.4% of sales ends up as free cash.

So-so

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.

Key numbers, fiscal 2025

Market cap Last close times the latest diluted share count, so it is approximate.
β€”
P/E Last close divided by diluted earnings per share over the last four quarters.
β€”
On βˆ’$2.19 EPS (TTM)

Revenue

Total sales reported in the income statement.

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.

See the full section β†’

Operating margin

Operating income as a share of revenue.

KIRA Β· Its operating margin was βˆ’38.9%, up 65.2Β pts: of every 100 in sales, about βˆ’39 is left after running the business.

See the full section β†’

Net income

Profit after all expenses, interest and tax.

KIRA Β· Sol-Gel Technologies Ltd. lost $6.1M in fiscal 2025.

See the full section β†’

Free cash flow

Cash from operations minus capital spending.

KIRA Β· Free cash flow was $0.3M in fiscal 2025, 1.4% of revenue.

See the full section β†’

Return on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

See the full section β†’
Charts by

Sales and profit

Is it selling more, and how much does it keep?

Revenue and margins

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 βˆ’38.9%, up 65.2Β pts: of every 100 in sales, about βˆ’39 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

Gross Operating Net FCF

Margins, % of revenue

Gross Operating Net FCF

Net income and earnings per share

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

Cash and shareholders

How much cash comes in, and where does it go?

Cash flow

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

Cash from operations Capital spending

Dividends, buybacks and share count

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

Dividends Buybacks

Diluted shares outstanding (annual)

Insider trades

KIRA Β· In the last 12 months, insiders bought $11.2M of shares on the open market and sold none.

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. β€œPlan” 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

$11.2M

1 insider

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

β€”

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 11, 2026 Opaleye Management Inc.10% owner Bought 1,493 $65.95 $0.1M Form 4
Sep 10, 2026 Opaleye Management Inc.10% owner Bought 1,631 $66.80 $0.1M Form 4
Sep 9, 2026 Opaleye Management Inc.10% owner Bought 3,097 $68.71 $0.2M Form 4
Sep 8, 2026 Opaleye Management Inc.10% owner Bought 3,861 $68.82 $0.3M Form 4
Sep 4, 2026 Opaleye Management Inc.10% owner Bought 3,018 $69.14 $0.2M Form 4
Sep 2, 2026 Opaleye Management Inc.10% owner Bought 900 $68.95 $0.1M Form 4
Sep 1, 2026 Opaleye Management Inc.10% owner Bought 783 $69.52 $0.1M Form 4
Aug 31, 2026 Opaleye Management Inc.10% owner Bought 5,217 $68.28 $0.4M Form 4
Aug 28, 2026 Opaleye Management Inc.10% owner Bought 35,113 $69.32 $2.4M Form 4
Aug 12, 2026 Opaleye Management Inc.10% owner Bought 951 $71.50 $0.1M Form 4
Jul 14, 2026 Opaleye Management Inc.10% owner Bought 920 $73.43 $0.1M Form 4
Jul 13, 2026 Opaleye Management Inc.10% owner Bought 775 $73.89 $0.1M Form 4
Jul 10, 2026 Opaleye Management Inc.10% owner Bought 229 $73.95 $0.0M Form 4
Jul 8, 2026 Opaleye Management Inc.10% owner Bought 300 $73.69 $0.0M Form 4
Jul 2, 2026 Opaleye Management Inc.10% owner Bought 1,400 $71.97 $0.1M Form 4
Jul 1, 2026 Opaleye Management Inc.10% owner Bought 312 $71.99 $0.0M Form 4
May 20, 2026 Opaleye Management Inc.10% owner Bought 1,563 $64.43 $0.1M Form 4
May 13, 2026 Opaleye Management Inc.10% owner Bought 1,937 $66.87 $0.1M Form 4
May 12, 2026 Opaleye Management Inc.10% owner Bought 1,500 $67.98 $0.1M Form 4
Mar 24, 2026 Opaleye Management Inc.10% owner Bought 39,665 $72.00 $2.9M Form 4
Feb 13, 2026 Opaleye Management Inc.10% owner Bought 291 $63.00 $0.0M Form 4
Feb 2, 2026 Opaleye Management Inc.10% owner Bought 100 $58.00 $0.0M Form 4
Jan 27, 2026 Opaleye Management Inc.10% owner Bought 100 $57.05 $0.0M Form 4
Jan 23, 2026 Opaleye Management Inc.10% owner Bought 1,151 $55.98 $0.1M Form 4
Jan 22, 2026 Opaleye Management Inc.10% owner Bought 2,173 $56.57 $0.1M Form 4
Jan 5, 2026 Opaleye Management Inc.10% owner Bought 198 $42.98 $0.0M Form 4
Jan 2, 2026 Opaleye Management Inc.10% owner Bought 2,394 $41.92 $0.1M Form 4
Dec 31, 2025 Opaleye Management Inc.10% owner Bought 22,497 $41.99 $0.9M Form 4
Dec 30, 2025 Opaleye Management Inc.10% owner Bought 35,169 $41.99 $1.5M Form 4
Dec 29, 2025 Opaleye Management Inc.10% owner Bought 8,638 $41.85 $0.4M Form 4
Dec 26, 2025 Opaleye Management Inc.10% owner Bought 1,626 $41.68 $0.1M Form 4
Dec 23, 2025 Opaleye Management Inc.10% owner Bought 260 $41.66 $0.0M Form 4
Dec 22, 2025 Opaleye Management Inc.10% owner Bought 1,019 $41.15 $0.0M Form 4
Dec 17, 2025 Opaleye Management Inc.10% owner Bought 2,735 $40.37 $0.1M Form 4
Dec 12, 2025 Opaleye Management Inc.10% owner Bought 87 $40.00 $0.0M Form 4
Dec 8, 2025 Opaleye Management Inc.10% owner Bought 300 $39.78 $0.0M Form 4
Dec 5, 2025 Opaleye Management Inc.10% owner Bought 444 $39.50 $0.0M Form 4
Dec 3, 2025 Opaleye Management Inc.10% owner Bought 2,524 $37.81 $0.1M Form 4
Dec 1, 2025 Opaleye Management Inc.10% owner Bought 4,340 $37.37 $0.2M Form 4
Nov 26, 2025 Opaleye Management Inc.10% owner Bought 943 $40.00 $0.0M Form 4
Nov 24, 2025 Opaleye Management Inc.10% owner Bought 6 $35.50 $0.0M Form 4
Nov 20, 2025 Opaleye Management Inc.10% owner Bought 5,784 $35.83 $0.2M Form 4

Financial health

Can it carry its debts, and how well does it use its money?

Balance sheet

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)

Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $21.8M$21.1M$28.0M$23.9M$24.0M
Current ratio 4.9x12.9x9.1x5.9x4.4x
Quick ratio 4.9x12.9x9.1x5.9x4.4x
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 (βˆ’ = net cash) β€”β€”β€”β€”β€”

Returns on capital

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)

Return on capital Return on equity Return on assets

Piotroski F-score

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. 8–9 is strong, 0–2 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.

TestFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Net income is positive βœ• βœ• βœ• βœ• βœ• βœ“ βœ• βœ• βœ• βœ•
Cash from operations is positive βœ• βœ• βœ• βœ• βœ• βœ• βœ• βœ• βœ• βœ“
Return on assets rose β€” βœ• βœ“ βœ“ βœ• βœ“ βœ• βœ• βœ“ βœ“
Cash from operations exceeds net income βœ“ βœ“ βœ“ βœ“ βœ“ βœ• βœ“ βœ“ βœ• βœ“
Debt fell relative to assets β€” βœ• β€” β€” β€” β€” β€” β€” β€” β€”
Current ratio rose β€” βœ• βœ“ βœ• βœ“ βœ• βœ“ βœ• βœ• βœ•
Share count didn't rise β€” βœ“ βœ• βœ• βœ• βœ• βœ“ βœ“ βœ• βœ•
Gross margin rose β€” β€” β€” β€” β€” β€” β€” β€” β€” β€”
Revenue rose relative to assets β€” β€” βœ• βœ“ βœ• βœ“ βœ• βœ• βœ“ βœ“
F-score β€” / 32 / 73 / 73 / 72 / 73 / 73 / 72 / 72 / 74 / 7
Accruals ratio βˆ’20.7%βˆ’56.9%βˆ’20.6%βˆ’3.2%βˆ’6.7%17.0%βˆ’9.4%βˆ’20.7%8.2%βˆ’19.6%
Altman Z'' βˆ’52.28βˆ’59.248.180.58βˆ’1.740.49βˆ’0.21βˆ’8.79βˆ’14.16βˆ’19.59

All figures

Every number, year by year.

10 years of figures

Amounts in USD. Hover a ratio’s 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.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
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 βˆ’$20.8M βˆ’$31.6M βˆ’$33.5M βˆ’$26.0M βˆ’$30.2M $3.0M βˆ’$16.2M βˆ’$29.3M βˆ’$12.0M βˆ’$7.5M
Pretax income β€” βˆ’$31.6M βˆ’$32.2M βˆ’$24.6M βˆ’$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 βˆ’$20.8M βˆ’$31.6M βˆ’$32.2M βˆ’$24.6M βˆ’$29.3M $3.2M βˆ’$14.9M βˆ’$27.2M βˆ’$10.6M βˆ’$6.1M
Diluted EPS $3.30 $5.02 $1.80 βˆ’$1.26 βˆ’$1.30 $0.14 βˆ’$0.65 βˆ’$10.01 βˆ’$3.79 βˆ’$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 βˆ’$18.5M βˆ’$24.1M βˆ’$23.5M βˆ’$22.5M βˆ’$25.2M βˆ’$7.7M βˆ’$9.5M βˆ’$17.7M βˆ’$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 βˆ’$18.9M βˆ’$26.0M βˆ’$24.5M βˆ’$23.1M βˆ’$25.7M βˆ’$7.8M βˆ’$9.7M βˆ’$17.9M βˆ’$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 βˆ’$31.3M βˆ’$52.7M $63.9M $52.5M $50.8M $55.6M $42.2M $38.6M $28.9M $22.8M
Margins
Operating margin β€” βˆ’18,179.9% βˆ’25,985.3% βˆ’113.3% βˆ’344.7% 9.5% βˆ’418.3% βˆ’1,885.8% βˆ’104.1% βˆ’38.9%
EBITDA margin β€” βˆ’17,909.2% βˆ’25,394.6% βˆ’109.4% βˆ’333.9% 12.3% βˆ’403.9% βˆ’1,863.8% βˆ’102.1% βˆ’38.3%
Net margin β€” βˆ’18,142.5% βˆ’24,963.6% βˆ’107.4% βˆ’333.9% 10.3% βˆ’384.3% βˆ’1,752.8% βˆ’91.7% βˆ’31.6%
FCF margin β€” βˆ’14,950.6% βˆ’19,007.0% βˆ’100.8% βˆ’292.9% βˆ’25.1% βˆ’248.6% βˆ’1,149.5% βˆ’120.4% 1.4%
Returns
Return on capital β€” βˆ’328.2% β€” β€” β€” β€” β€” β€” β€” β€”
Return on capital employed 67.7% 61.0% βˆ’51.7% βˆ’47.4% βˆ’56.8% 5.2% βˆ’37.5% βˆ’71.9% βˆ’39.3% βˆ’31.7%
Return on equity β€” β€” βˆ’574.5% βˆ’42.3% βˆ’56.7% 6.1% βˆ’30.5% βˆ’67.4% βˆ’31.4% βˆ’23.7%
Return on assets βˆ’189.1% βˆ’240.1% βˆ’75.8% βˆ’37.6% βˆ’48.6% 5.0% βˆ’25.8% βˆ’59.3% βˆ’26.1% βˆ’18.6%
Return on tangible equity β€” β€” βˆ’50.4% βˆ’46.9% βˆ’57.6% 5.8% βˆ’35.4% βˆ’70.5% βˆ’36.7% βˆ’26.9%
Growth
Revenue growth β€” β€” βˆ’25.9% 17,655.0% βˆ’61.7% 256.5% βˆ’87.6% βˆ’60.0% 642.5% 68.0%
Net income growth β€” β€” β€” β€” β€” β€” βˆ’563.3% β€” β€” β€”
EPS growth β€” 52.1% βˆ’64.1% βˆ’170.0% β€” β€” βˆ’564.3% β€” β€” β€”
Share count change β€” 0.0% 184.1% 9.3% 15.6% 4.4% βˆ’1.9% βˆ’88.3% 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'' βˆ’52.3 βˆ’59.2 8.2 0.6 βˆ’1.7 0.5 βˆ’0.2 βˆ’8.8 βˆ’14.2 βˆ’19.6
Accruals ratio βˆ’20.7% βˆ’56.9% βˆ’20.6% βˆ’3.2% βˆ’6.7% 17.0% βˆ’9.4% βˆ’20.7% 8.2% βˆ’19.6%

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.

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