Core Insights - Smartkem is focused on revolutionizing the electronics industry with its proprietary TRUFLEX® transistor technology aimed at applications such as MicroLED, LCD, AMOLED displays, and advanced AI chip packaging [4][8]. Financial Performance - Revenue for Q3 2025 was $81 thousand, up from $40 thousand in Q3 2024, driven by sales of OTFT backplanes and TRUFLEX® materials [8]. - Operating expenses increased to $2 million in Q3 2025 from $1.5 million in Q3 2024 [8]. - Loss from operations for Q3 2025 was $3.1 million, compared to $2.8 million in Q3 2024 [8]. - Cash and cash equivalents decreased to $0.9 million as of September 30, 2025, down from $7.1 million at the end of 2024 [8]. Capital and Financing - On October 31, 2025, Smartkem secured $1 million in bridge financing through the issuance of $1.1 million in Senior Secured Notes due April 30, 2026, along with warrants for 400,000 shares at an exercise price of $2.75 per share [8]. Research and Development - Smartkem operates a research and development facility in Manchester, UK, and collaborates with The Industrial Technology Research Institute (ITRI) in Taiwan for product prototyping [5]. - The company has a robust intellectual property portfolio with 140 granted patents and 14 pending patents [6]. Market Engagement - Smartkem has engaged in various industry events, including presentations at the International Meeting on Information Display (IMID) and exhibitions at SEMICON® Taiwan 2025 and MicroLED Connect 2025 [8].