- EnSilica
- 06 December 2024 13:25:53
Source: Sharecast
The AIM-traded company said the contract would include non-recurring engineering fees and supply revenue, based on the client's forecast production volumes.
It said the deal, with an unnamed industrial test equipment provider, would see non-recurring engineering revenue contributing to its current and next financial years, aligning with market expectations.
Supply revenue was expected to then start in mid-2026.
The board noted that the contract was the second of three design and supply opportunities referred to in its November update, all of which featured “significant” upfront payments.
“We are very pleased to have secured our fifth design and supply contract this financial year, demonstrating our strong market reach and technical offering,” said chief executive officer Ian Lankshear.
“Through this ASIC, EnSilica will deliver key differentiation features to our customer's high-value industrial test equipment products.
“EnSilica continues to be a go-to partner of choice for businesses across the globe looking for industry-leading ASIC design, supply and consultancy know-how, and we look forward to building on our robust new contract momentum in the remainder of the financial year and beyond.”
At 1257 GMT, shares in EnSilica were up 8.11% at 47.03p.
Reporting by Josh White for Sharecast.com.