SmartKem, Inc. (SMTK) operates in the Semiconductors industry within the Technology sector, focusing on organic thin-film transistors for flexible electronics. The company's core business activities are permissible under Shariah principles, with no involvement in prohibited sectors. However, financial screening indicates challenges with elevated liquidity and interest income ratios due to low revenue and high other income classification, resulting in non-compliance across standards. Index research confirms exclusion from all major Shariah indices. Overall, while the business model supports compliance, financial restructuring is recommended for future eligibility.