SmartKem, Inc. Q3 FY25 Results

Summary

SmartKem reported its financial results for the third quarter of 2025. Revenue for the quarter was $81 thousand, an increase from $40 thousand in the same period of 2024, driven by sales of OTFT backplanes and TRUFLEX® materials. Operating expenses rose to $2 million, compared to $1.5 million in the prior year. The company's loss from operations was $3.1 million, slightly higher than the $2.8 million loss in the same period last year. SmartKem secured $1 million in bridge financing in late October.

Key Highlights

1. 1

   SmartKem's revenue was $81 thousand for the three months ended September 30, 2025, compared to $40 thousand for the same period of 2024.

2. 2

   Operating expenses increased to $2 million for the three months ended September 30, 2025, from $1.5 million in the same period of 2024.

3. 3

   The company's loss from operations was $3.1 million for the three months ended September 30, 2025, compared to $2.8 million for the same period of 2024.

4. 4

   Cash and cash equivalents totaled $0.9 million as of September 30, 2025, a decrease from $7.1 million as of December 31, 2024.

5. 5

   SmartKem obtained $1,000,000 of bridge financing on October 31, 2025, in exchange for Senior Secured Notes.