Smartkem Reports Second Quarter 2025 Financial Results

Core Insights - Smartkem is focused on revolutionizing the electronics industry with its innovative transistor technology using proprietary semiconductor materials [4][5] - The company reported financial results for the second quarter and first half of 2025, highlighting significant changes in revenue and operating expenses [3][11] Financial Highlights - Revenue for Q2 2025 was $32 thousand, a decrease from $40 thousand in Q2 2024, attributed to sales of OTFT backplanes and TRUFLEX® materials [7][11] - Operating expenses increased to $4.7 million in Q2 2025 from $3.0 million in Q2 2024, primarily due to a $1.5 million rise in R&D expenses [7][11] - The loss from operations for Q2 2025 was $4.4 million, compared to $2.8 million in Q2 2024 [7][11] Cash Position - As of June 30, 2025, cash and cash equivalents were $1.2 million, down from $7.1 million as of December 31, 2024 [7][9] - The company anticipates that its cash balance will be sufficient to fund operations through September 30, 2025 [7] Intellectual Property - Smartkem holds an extensive IP portfolio with 140 granted patents across 17 families, 14 pending patents, and 40 trade secrets [6] Recent Developments - The company introduced a 12.3-inch MicroLED Smart Backlight demonstration aimed at next-generation automotive LCD displays [7] - A preliminary joint development agreement was signed with Manz Asia to co-develop inkjet dielectric inks for advanced chip packaging [7] - Smartkem secured a new UK patent for a MicroLED manufacturing process that supports wafer reuse [7]