Smartkem has developed the "MiP4", a package of four MicroLEDs connected using Smartkem's chip-first architecture and its unique interlayer dielectric semiconductor materials. A demonstration of the first application of the MiP4: a 12.3in MicroLED Smart Backlight, has now been unveiled at Taiwan's largest technical conference, Touch Taiwan 2025. The MicroLED Smart Backlight delivers higher brightness and better contrast in LCD screens that are frequently used in the automotive industry today. Smartkem Chair ...

Chairman and CEO Ian Jenks to Give Presentation on May 14th at the SID Business Conference MANCHESTER, England, April 14, 2025 /PRNewswire/ -- Smartkem (NASDAQ: SMTK), which is seeking to change the world of electronics with a new class of transistor technology, announced it will exhibit and its CEO will give a presentation at Display Week 2025 taking place at the San Jose McEnery Convention Center on May 11th – 16th, 2025. Attendees are invited to visit with company representatives during the event at Sma ...

Financial Performance - Smartkem reported revenues of $82 thousand for the year ended December 31, 2024, an increase of 204% compared to $27 thousand in 2023[16]. - Operating expenses for the year were $11.5 million, up from $10.8 million in 2023, reflecting increased investment in research and development[10]. - Smartkem's net loss attributed to common stockholders for 2024 was $19.6 million, compared to a net loss of $8.5 million in 2023[16]. - Cash and cash equivalents decreased to $7.1 million as of December 31, 2024, down from $8.8 million in 2023[10]. Funding and Investment - The company raised $7.65 million in equity financing and received a £900,000 ($1.1 million) grant from Innovate UK to support its projects[2][10]. Strategic Partnerships and Developments - The company established a joint development agreement with AUO to develop the world's first advanced rollable, transparent MicroLED display[4]. - Smartkem completed its first sale of TRUFLEX® materials to Chip Foundation for the co-development of MicroLED-based backlight technology[10]. Innovation and Market Potential - The company has an extensive IP portfolio with 138 granted patents across 17 families, indicating strong innovation capabilities[9]. - Smartkem's commercialization strategy focuses on advancing polymer materials, developing EDA tools, and establishing scalable manufacturing processes[3]. - The MicroLED display market is projected to grow to over $4 billion by 2030, presenting significant growth opportunities for Smartkem[2].

MANCHESTER, England, April 1, 2025 /PRNewswire/ -- Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics with a new class of transistor technology, today provides a business update and reports financial results for the three and twelve months ended December 31, 2024. Recent Business Highlights Full Year 2024 Financial Highlights: Commencing development work on a rollable, transparent MicroLED display with our partner, AUO; Completing first sale of our TRUFLEX® materials to Chip Founda ...

Technology and Innovation - SmartKem's TRUFLEX® semiconductor polymers enable low-temperature printing processes as low as 80°C, allowing for the use of low-cost plastic substrates[23] - The performance of SmartKem's OTFT technology exceeds a-Si performance by a factor of four, enhancing product design capabilities[23] - SmartKem has developed a monolithic MicroLED display using OTFTs, published in Nature Communications, showcasing the potential for commercialization[40] - SmartKem's low-temperature processing allows for the integration of OTFTs directly on MicroLEDs, eliminating costly transfer and welding processes[41] - SmartKem's OTFTs can drive mini and MicroLED displays at over 100,000 nits, making them suitable for high-brightness applications[23] - SmartKem's materials are being tested for advanced semiconductor packaging applications, indicating a broadening of their market reach[34] - SmartKem's OTFTs can achieve charge mobility of >3 cm²/Vs at a channel length of 4 microns and >4 cm²/Vs at 10 microns[68] - The on/off ratios of SmartKem's OTFTs are in the order of 10⁷ and have demonstrated ratios of 10⁹ in devices with large W/L[68] - The company is focusing on the development of specialized dielectric materials for advanced electronics packaging and display applications[67] Market Trends and Projections - The global display market is projected to exceed 200 million square meters by 2025, with an estimated value of around $150 billion in 2024[42] - The MicroLED market is projected to grow from $592 million in 2021 to over $21 billion by 2027, representing an 81.5% CAGR[43] - In 2023, 34% of MicroLED revenue came from the 3,000 to 5,000 pixel per inch segment, with the greater than 5,000 pixel per inch segment expected to grow at a 79% CAGR from 2024 to 2030[43] - The automotive display market was valued at $8.4 billion in 2023, with total revenue expected to grow at a CAGR of 18.26% from 2024 to 2030, reaching nearly $27.2 billion by 2030[43] - The smartwatch market is expected to grow from $91.01 billion in 2024 to $106 billion in 2025, a 17% CAGR[43] Collaborations and Agreements - The company is collaborating with ITRI to develop Gen 2.5 scale commercial manufacturing processes for OTFT materials[37] - The company has established a technology transfer agreement with ITRI to develop Gen 2.5 scale commercial manufacturing processes for OTFT materials[56] - The company has entered into a four-year collaboration with FlexiIC to develop open-source or low-cost paid EDA tools for OTFTs[53] - In 2023, SmartKem entered into a technology transfer agreement with RiTdisplay to develop the world's first commercially ready active-matrix OLED display using OTFT technology[78] - A joint development agreement was established in 2022 for a new generation of miniLED signage, expected to lead to a roll-to-roll process for large format LED displays[79] - In July 2023, a three-year technical services agreement was signed with ITRI to develop Gen 2.5 scale commercial manufacturing processes for OTFT materials[80] Financial Performance and Projections - As of December 31, 2024, the company had an accumulated deficit of $114.6 million, with total comprehensive losses of $9.9 million and $9.6 million for the years ended December 31, 2024 and 2023, respectively[115] - The company expects operating losses to continue for the foreseeable future due to ongoing investments in infrastructure and research and development[116] - Cash and cash equivalents were reported at $7.1 million as of December 31, 2024, which is anticipated to be insufficient to meet operating expenses for at least 12 months[117] - The company has incurred recurring losses since inception and will likely require additional capital to support its business objectives[116] - The sales cycle for the company's products is expected to take approximately 12-24 months, incurring significant expenses without guaranteed sales[66] Risks and Challenges - The company competes in highly competitive markets characterized by rapid technological changes and may face challenges in establishing sales capabilities[113] - A significant share of the company's growth relies on the adoption of MicroLED technology by display manufacturers, which has not yet achieved widespread acceptance due to high manufacturing costs[127] - The sales price for a large high-definition MicroLED display screen is approximately $100,000, indicating the high cost barrier for consumer adoption[127] - The company faces risks from competitors developing superior technologies that could render its products obsolete or non-competitive[129] - The company does not currently have a fully staffed sales organization and plans to build a direct sales force, which is time-consuming and expensive[133] - The company relies on third-party facilities for prototyping and commercial process development, which poses risks if access is lost[113] - The company expects long and unpredictable sales cycles, making revenue difficult to predict and potentially leading to significant fluctuations in results[143] - The company has experienced disruptions in its semiconductor supply chain from 2020 to 2023, leading to increased lead times and higher costs for securing inventory[151] - The company is subject to risks associated with international operations, particularly in Asia, which could adversely affect results due to geopolitical tensions and natural disasters[152] - The company has faced increased costs and operational disruptions due to public health crises, such as the COVID-19 pandemic, which have impacted business development and liquidity[149] Legal and Compliance - The company incurs significant legal and compliance costs as a public entity, which could hinder its ability to attract and retain qualified executives[180] - The company anticipates that its products may face regulatory challenges related to safety, health, and environmental standards[102] - The company must continuously evaluate and modify its security controls to address new threats, which may be costly and distracting[168] - A material weakness in internal control over financial reporting was identified in Q2 2023, related to complex financial reporting, but no filed financial statements were impacted[182] - The company has implemented measures to remediate control deficiencies, including enhancing control activity evidence and improving management review controls[182] Corporate Governance and Stockholder Matters - The company is classified as an "emerging growth company" and may take advantage of reduced reporting requirements, which could affect the attractiveness of its common stock to investors[191] - As of November 15, 2024, the company's stockholders' equity was reported at $2.3 million, below the Nasdaq minimum requirement of $2.5 million, but increased above this threshold following the December 2025 Offering[199] - The concentration of ownership among principal stockholders and management, who own 62.1% of the common stock, may impact corporate control and trading price[208] - The company may face challenges in maintaining compliance with Nasdaq listing requirements, including the $1.00 minimum bid price and stockholders' equity requirements[200] - There is no assurance that an active trading market for the company's common stock will develop or be sustained, which could affect liquidity and capital raising efforts[195]

Creation of a commercial pilot line at RiTdisplay is a significant step towards commercialization of Smartkem's OTFT technology MANCHESTER, England, March 24, 2025 /PRNewswire/ -- Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics with a new class of transistor technology, has announced a memorandum of understanding with RiTdisplay Corporation, a leading developer of optoelectronic solutions, visual displays and passive-matrix OLED displays, to evaluate the integration of Smartkem ...

Core Viewpoint - Smartkem is participating in SEMICON China to showcase its innovative transistor technology aimed at revolutionizing the electronics and display industry [1][2]. Company Overview - Smartkem is focused on developing a new class of transistors using proprietary advanced semiconductor materials, specifically its TRUFLEX® technology, which allows for low-temperature printing processes compatible with existing manufacturing infrastructure [2][3]. - The company aims to deliver low-cost, high-performance displays across various technologies, including microLED, miniLED, and AMOLED, as well as applications in sensors and logic [2]. Research and Development - Smartkem conducts its R&D at its facility in Manchester, UK, and offers prototyping services at the Centre for Process Innovation in Sedgefield, UK [3]. - The company has a significant intellectual property portfolio, including 138 granted patents across 17 families, 17 pending patents, and 40 codified trade secrets [3]. Event Participation - Michelle Ouyang, Smartkem's Head of Business Development, will attend SEMICON China to explore customer engagements and is available for one-on-one meetings with industry representatives [2].

Smartkem Chairman and CEO, Ian Jenks, to Deliver Keynote Address on Transformative MicroLED technology MANCHESTER, England, March 17, 2025 /PRNewswire/ -- Smartkem (NASDAQ: SMTK), which is seeking to change the world of electronics with a new class of transistor technology, will unveil the first MicroLED-in-a-Package (MiP) backlight using its unique and proprietary technology at this year's Touch Taiwan conference in Taipei City, Taiwan which runs from April 16-18th 2025. Smartkem Chairman and CEO, Ian Jenk ...

Company Overview - Smartkem is focused on revolutionizing the electronics industry with a new class of transistor technology using proprietary advanced semiconductor materials [5] - The company's TRUFLEX® semiconductor technology allows for low-temperature printing processes compatible with existing manufacturing infrastructure, aiming to deliver low-cost, high-performance displays across various technologies including microLED, miniLED, and AMOLED [5] Leadership Appointment - Jonathan Watkins has been appointed as Chief Operating Officer (COO) of Smartkem, responsible for global operations and strategic partnerships [1] - Watkins brings over 30 years of experience in commercializing and scaling novel material technologies, having held strategic roles in multinational companies and high-growth startups [2][3] - Prior to his COO role, Watkins served as a consultant to Smartkem and has a history of leading complex technical product portfolios and developing global supply chains [2][3] Background of Jonathan Watkins - Watkins has held significant positions including CEO of Impression Technologies Limited, where he developed and scaled a novel aluminum lightweighting technology for various markets [3] - He has also served as COO and commercial director of Ceres Power plc, focusing on manufacturing, supply chain management, and business development [3] - His educational background includes a Postgraduate Certificate in Design Manufacture and Management from the University of Cambridge and a BEng degree in Materials Science & Technology from the University of Birmingham [4] Research and Development - Smartkem operates its research and development facility in Manchester, UK, and provides prototyping services at the Centre for Process Innovation in Sedgefield, UK [6] - The company holds an extensive intellectual property portfolio, including 138 granted patents across 17 patent families, 17 pending patents, and 40 codified trade secrets [6]

Company Overview - Smartkem is focused on revolutionizing the electronics industry with a new class of transistor technology using proprietary advanced semiconductor materials [3] - The company's TRUFLEX® semiconductor technology allows for low temperature printing processes that are compatible with existing manufacturing infrastructure, enabling the production of low-cost, high-performance, flexible displays [3] - Smartkem's technology can be applied in various display technologies including microLED, miniLED, and AMOLED, as well as in sensors and logic applications [3] Upcoming Conference Participation - Smartkem will participate in the 37th Annual Roth Conference from March 16th to 18th, 2025, which is a significant investor conference in the U.S. [1] - The conference will be held at The Laguna Cliffs Marriott in Dana Point, California, bringing together institutional investors, industry leaders, and emerging growth companies [1] - CEO Ian Jenks and CFO Barbra Keck will be available for one-on-one meetings on March 17th and 18th [2] Research and Development - Smartkem develops its materials at its research and development facility located in Manchester, UK, and provides prototyping services at the Centre for Process Innovation (CPI) in Sedgefield, UK [4] - The company has a field application office in Taiwan and holds an extensive intellectual property portfolio, including 138 granted patents across 17 patent families, 17 pending patents, and 40 codified trade secrets [4]