SmartKem
Develops organic semiconductor inks for flexible displays, sensors, and chip packaging.
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Profile
Supplies TRUFLEX organic semiconductor and dielectric inks, prototypes and development services for flexible displays, sensors and advanced chip packaging. Revenue comes from material and demonstrator sales plus joint-development agreements, with commercialization dependent on customer qualification and partner-led process transfer.
Develops and formulates TRUFLEX organic semiconductor and dielectric inks for low-temperature fabrication of organic thin-film transistors on plastic or glass. Materials, prototypes and development services target flexible and transparent displays, advanced chip packaging, sensors and logic, with customers evaluating layers and transistor stacks through a customer-specific process of record.
Runs materials R&D and ink formulation from Manchester, United Kingdom, while its executive office is in Wilmington, Delaware. Prototyping and process development rely on external facilities in the United Kingdom and Taiwan, especially ITRI, and most future sales are expected to come from Asian customers.
Generates revenue from material and demonstrator sales and joint-development agreements, with successful engagements potentially developing into customized-product supply or process licensing paired with proprietary ink supply. Commercial-scale sales have not begun; customer qualification, external fabrication partners, financing and rights to use assigned patents remain structural dependencies.
Company facts
Key statistics
Year to date −94.0% · Average volume (30d) 356.7K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 14, 2026Q2 FY26 | — | −$2.50 | — | — | — | — | −18.01% |
| May 20, 2026Q1 FY26 | — | −$0.25 | — | — | $20.0K | — | −5.98% |
| Apr 8, 2026Q1 FY26 | — | −$0.22 | — | — | $15.5M | — | +8.91% |
| Nov 13, 2025Q3 FY25 | — | −$0.45 | — | — | $81.0K | — | +17.36% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $23.0K | $32.0K | $81.0K | $561.0K | $20.0K | $0 | |
| Gross profit | $22.0K | $4.0K | $76.0K | $323.0K | $16.0K | $0 | |
| Operating income | −$3.2M | −$4.5M | −$3.1M | −$2.1M | −$2.5M | −$1.4M | |
| Net income | −$2.1M | −$2.4M | −$3.9M | −$2.1M | −$19.4M | −$3.3M | |
| Diluted EPS | −$16.00 | −$15.00 | −$22.50 | −$11.00 | −$67.00 | −$7.00 | |
| Gross margin | 95.7% | 12.5% | 93.8% | 57.6% | 80.0% | — | |
| Operating margin | -14,056.5% | -14,071.9% | -3,864.2% | -382.5% | -12,635.0% | — |
Fiscal years (4-quarter sums)FY22 $40.0K · FY23 $27.0K · FY24 $82.0K · FY25 $697.0K
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $3.7M · Total debt $0 · Total assets $10.4M · Shareholders' equity $9.7M
Dividends
No dividends on record.
Ownership
Shares outstanding 517.3K · Float 388.6K · 75.1% free float
Insiders — no current Form 4 position.
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Qnity Electronics
Advanced-packaging dielectrics for RDL and wafer-level designs.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| SmartKem | $3.39 | −4.37% | $1.8M | — | — | 2.7 | — |
| Qnity Electronics | $121.00 | +0.65% | $25.18B | 43.0 | 24.9 | 4.8 | +22.1% |
| Median | 43.0 | 24.9 | 4.8 | +22.1% |



