SMX (Security Matters) Public Limited Company

SMX (Security Matters) Public Limited Company (NASDAQ: SMX) operates as a B2B white-label technology provider, specializing in marking, tracking, measurement, and digital integration. Its offerings are aimed at enabling companies to transition toward a low-carbon future by delivering full traceability and verification across multiple industries. The company’s system uses a combination of markers, readers, and proprietary algorithms to identify sub-molecular particles and follow materials or components throughout manufacturing and supply-chain processes. This physical or chemical marking solution is paired with a blockchain-based digital platform to provide secure tracking and data assurance end-to-end.

Recent Business Developments

• SMX Expands Equity Funding and Removes Crypto Purchase Requirement: SMX has amended its standby equity purchase agreement with accredited investors to increase the facility by USD 5 million and to eliminate previous requirements to invest part of the proceeds in bitcoin or other cryptocurrencies, provided the company’s shares close above USD 10. Investors will acquire a USD 5 million convertible promissory note issued at a 20% original issue discount, giving it a USD 6.25 million face value. The transaction is expected to close before the end of 2025, with RBW Capital Partners acting as exclusive placement agent, and full documentation to be filed on Form 6-K with the SEC.
• SMX Accelerates Material-Level Identity Adoption Across Global Supply Chains: SMX is transforming material identity from a theoretical concept into a practical operational requirement across multiple industries. As legacy documentation-based verification systems struggle with increasingly complex global supply chains, SMX’s technology enables materials to carry their own authenticated molecular identity throughout their lifecycle. During 2025, the company rapidly expanded real-world deployments, unlocking new sectors and attracting heightened attention as plastics, metals, precious metals, textiles, packaging, logistics, and national circularity systems began adopting its platform. These capabilities demonstrated verified origin, composition, and recycling data in plastics, preserved provenance through high-heat industrial processes in metals, and enabled national-scale circularity infrastructure across ASEAN in packaging and textiles. While market interest has increased alongside the natural volatility associated with emerging technologies, SMX continues to build the core assets that support long-term value creation as material-level identity becomes embedded across global supply chains.
• SMX Secures USD 1.4 Million Loan with Restrictive Financing Terms: SMX Public Limited Company has entered into a USD 1.4 million loan agreement with Abri Advisors Ltd. at a 15% interest rate, maturing on June 30, 2025. The deal includes an original issue discount and strict conditions limiting SMX from issuing senior debt without lender consent. It also requires partial repayment if the company raises equity. The arrangement strengthens liquidity while imposing disciplined financial controls, reflecting Abri’s protected position and SMX’s need for structured financing.
• SMX Embeds Security Markers into NFC and RFID Chips to Enhance Traceability and Protection: SMX announced that it has integrated its proprietary molecular marking technology directly into the coating of standard NFC and RFID chips, enabling authentication and verification throughout their lifecycle. The company expects this advancement to reduce counterfeiting and tampering risks, strengthen supply-chain security, and improve chip durability and performance. Testing shows the coating can also withstand environmental stress, potentially extend operational lifespan, and even store data—adding an additional functional and protective layer to electronic components.
• SMX Receives Nasdaq Notice for Bid-Price Non-Compliance: SMX has been notified by Nasdaq that it is out of compliance with the exchange’s minimum bid-price requirement after its shares traded below USD 1.00 for 30 consecutive business days between October 8 and December 9, 2024. The company typically would have 180 days to regain compliance under Nasdaq rules.

Technical Observation (on the daily chart):

SMX’s price spent most of the year in a prolonged low-volume consolidation with little trading interest after an early decline, but recent sessions have shown a sharp upside move supported by rising volume and improving momentum. The price has moved above short-term moving averages and RSI has strengthened, indicating an emerging bullish shift. However, given the historically thin liquidity and volatility, the recent rebound still requires confirmation through sustained price stability and continued volume support.

SMX continues to advance its technology and strengthen its market position through expanded applications and added liquidity, including a USD 5 million equity facility amendment and a USD 1.4 million loan, while also broadening industry adoption of its material-level identity solutions and launching new security capabilities for NFC and RFID chips. These developments support operational progress and technology validation across multiple sectors, though financing terms, dilution implications, and restrictive debt conditions point to ongoing funding pressures and execution risk, resulting in a mixed near-term outlook.

As per the above-mentioned price action, recent key business and financial updates, momentum in the stock over the last month, and technical indicators analysis, a ‘Watch’ rating has been given SMX (Security Matters) Public Limited Company (NASDAQ: SMX) at the closing market price of USD 146.00 as of Dec 09,2025. 

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario. 

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Related Risk: This report may be looked at from a high-risk perspective and a recommendation is provided for a short duration. This report is solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc. 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is December 09,2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.