Business
Half year trading update
Filtronic plc reported significant strategic progress in the first half of FY2026, securing its largest-ever contract with SpaceX for next-generation E-band GaN products, alongside a €7m contract for LEO satellite constellation RF assemblies and a £13.4 million defence contract. The company ended the period with £10.5 million in cash and £8.5 million net cash excluding leases, self-financing a headquarters relocation. Filtronic is advancing its high-frequency GaN product roadmap, with £1.2 million in funding secured for a Ka-Band amplifier, and remains confident in full-year expectations, with market expectations for FY2026 revenue at £55.5m and EBITDA at £10.9m. Disclaimer*
About this update from Filtronic Plc
[{"type":"text","content":"\n\n \n12 December 2025\nFiltronic plc\n(\"Filtronic\" or \"the Company\")\n \nHalf year trading update\nMajor strategic progress, growing pipeline and order book, and confidence in full-year expectations\n \nFiltronic plc (AIM: FTC), the designer and manufacturer of advanced RF solutions for the space, aerospace and defence, and telecoms infrastructure markets, provides the following trading update for the six months ended 30 November 2025 (H1 FY2026).\n \nThe first half of the year saw major strategic progress, including the award of Filtronic's largest-ever contract with SpaceX, for its next-generation E-band GaN product. This contract also marks the first significant commercial deployment of this technology, for which Filtronic sees significant future commercial opportunity across the wider space market. Meanwhile, Filtronic continues to expand its customer base, securing a €7m (£5.8m) multi-year contract with a leading European aerospace manufacturer, to supply RF assemblies for integration into a major Low Earth Orbit satellite constellation programme, and a £13.4 million contract with a leading European defence prime, underscoring the Company's strengthening position in a sector where the need for secure, resilient RF solutions continues to increase.\n \nThis momentum is strengthening the Company's overall customer mix, supporting a broader pipeline of opportunities and extending the long-term visibility of the Group's customer order book.\n \nInnovation remains central to Filtronic's long-term growth strategy. The Company's roadmap for market leading high-frequency GaN products is advancing well, with launches planned for calendar year 2026 to address emerging opportunities in space ground systems, and the recent award of £1.2m funding to support development of a 550W Ka-Band solid-state power amplifier, reinforces the Company's intent to capitalise on the significant opportunity emerging in the global space ecosystem.\n \nThe Group ended H1 FY2026 in a strong financial position with £10.5 million of cash at bank (31 May 2025: £14.5m), having self-financed the capital project to relocate to the larger headquarters and manufacturing site at Sedgefield, and £8.5 million in net cash when excluding right of use property leases (31 May 2025: £12.3m), providing a solid foundation for further ...