SmartKem Reports 20 Percent Sales Drop
SmartKem (NASDAQ:SMTK) is a developer of organic thin-film transistor (OTFT) semiconductor materials for flexible displays and next-generation electronics. On August 12, 2025, it reported its Q2 2025 results, focusing on both technical and partnership progress but showing a drop in revenue and a heavier cash burn. Revenue (GAAP) was $32 thousand for Q2 2025, down from $40 thousand (GAAP) in Q2 2024. There were no published analyst estimates to compare against. Operating expenses were $4.7 million for Q2 2025, and cash and cash equivalents (GAAP) at Q2 2025 quarter end fell sharply to $1.2 million. Management indicated that cash is expected to last only through September 30, 2025, raising near-term funding concerns. The results highlight significant advances in R&D, but the quarter underscored the company’s ongoing financial risks and lack of commercial revenue traction.
SmartKem is focused on developing and commercializing OTFT materials for the global flexible display market. Its main technology, TRUFLEX®, is designed to enable the manufacture of thin, flexible, and foldable displays using low-temperature printing processes. This technology targets devices such as foldable smartphones, wearables, and advanced automotive screens.
The company’s recent priorities have centered on expanding its suite of joint development partnerships. It is also investing in manufacturing scalability, with efforts to prove production processes can be adopted by potential customers without major capital investment. Maintaining a strong intellectual property (IP) portfolio remains a key part of its competitive strategy, as does ongoing R&D to support entry into the growing MicroLED display market.
Source Fool.com
