Smartkem, a leader in advanced semiconductor technology, has released its third-quarter financial results for 2025. With new partnerships and innovative developments, Smartkem continues to make waves in the electronics industry despite facing ongoing financial challenges.
Smartkem Signs Major Partnerships and Showcases Innovations
During the third quarter of 2025, Smartkem signed a non-binding Letter of Intent with Jericho Energy Ventures. This collaboration aims to create a U.S.-owned, AI-focused infrastructure company. Additionally, the company announced a joint development agreement with Manz Asia to deliver advanced solutions for computer and AI chip packaging.
Smartkem’s team also had a high-profile presence at several industry events:
- Delivered feature presentations at the 25th International Meeting on Information Display (IMID) in Korea
- Participated in the PlayNitride 2025 Technology Forum in Taiwan
- Exhibited at SEMICON® Taiwan 2025
- Presented at MicroLED Connect 2025 in the Netherlands and TechBlick Berlin: The Future of Electronics RESHAPED 2025
These activities further strengthen Smartkem’s global reputation in the display and semiconductor sectors.
Financial Performance and Key Business Developments in Q3
The third quarter saw revenue increase to $81,000, up from $40,000 in the same period last year. Most revenue came from sales of OTFT backplanes and TRUFLEX® materials for assessment and development.
Despite the revenue boost, operating expenses grew to $2 million, compared to $1.5 million in Q3 2024. This resulted in a net loss from operations of $3.1 million. By September 30, 2025, cash and cash equivalents stood at $0.9 million, a sharp decline from $7.1 million at the end of 2024. To support operations, Smartkem secured $1 million in bridge financing through senior secured notes and stock warrants.
Advancing Next-Gen Semiconductor Materials and Applications
Smartkem develops unique transistor technology using its proprietary TRUFLEX® materials. These materials are designed for a range of display technologies, including MicroLED, LCD, AMOLED, and advanced chip packaging for AI applications.
Smartkem’s R&D is based in Manchester, UK. The company also maintains a field office in Taiwan to work closely with The Industrial Technology Research Institute (ITRI). With its network of partners, Smartkem is scaling up commercial production processes and developing new Electronic Design Automation (EDA) tools. The company boasts an extensive intellectual property portfolio with 140 granted patents, 14 pending patents, and 40 trade secrets.
In summary, despite continued financial hurdles, Smartkem made significant progress in partnerships, industry visibility, and technology development in Q3 2025. The company’s commitment to next-generation electronics positions it as a key innovator in the rapidly changing semiconductor landscape.
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