Source: Sharecast
Filtronic locked in its largest‑ever contract win with SpaceX for its next‑generation E‑band GaN technology, marking the first significant commercial deployment of the product.
The AIM-listed firm also revealed it had secured a €7m multi‑year contract with a European aerospace manufacturer to supply RF assemblies for a Low Earth Orbit satellite constellation, alongside a £13.4m contract with a European defence prime, further strengthening its position in secure communications.
Filtronic stated innovation remained central to its growth strategy, with launches of high‑frequency GaN products planned for 2026 and £1.2m of funding recently awarded to support development of a 550W Ka‑band solid‑state power amplifier.
It ended the half year with £10.5m of cash in the bank, down from £14.5m at 31 May, after self‑financing its relocation to a larger headquarters and manufacturing site in Sedgefield. Net cash, excluding property leases, stood at £8.5m, compared with £12.3m previously.
Looking ahead, Filtronic stated it had entered the second half with a robust order book, strong customer engagement and a growing pipeline, leaving the firm confident in its ability to deliver a solid H2 and a full‑year performance in line with market expectations.
As of 1005 GMT, Filtronic shares were down 1.83% at 139.40p.
Reporting by Iain Gilbert at Sharecast.com