EnSilica (ENSI): A positive H1 FY26 Trading Update from a promising Satellite Communication Chip Design Specialist

Key Highlights Include:

·      Maintained strategy focus on high-growth, differentiated, technology-led end markets

·      Increasing traction within the satellite communications [industry], with expanding customer engagement across user terminals, payloads and resilient positioning, navigation & timing

·      Increased demand for safe and secure chips, driven by long-lifecycle systems, regulatory requirements and supply chain resilience

·      EnSilica's Post-Quantum Cryptography (PQC)-ready security IP and architectures increasingly relevant across satellite, automotive, industrial and critical infrastructure markets

·      Design and NRE activity remains robust, with new programme wins contributing alongside existing long-term engagements

·      Strong pipeline of advanced ASIC programmes supporting long-term growth in chip supply revenues

Outlook

The Board remains confident of delivering a substantial increase in revenues and EBITDA profitability in FY 2026 versus FY 2025 and reiterates its current guidance for the 12 months ending 31 May 2026 of revenues of between £28 million and £30 million, with more than 95 per cent of revenues already covered by existing customer contracts, and EBITDA profits of between £3.5 million and £4.5 million.

Importantly, the Group's strong NRE order book, coupled with increasing profits from chip supply activities, is driving a phased reduction in cash consumption, with the Board anticipating positive monthly cash generation by the end of calendar year 2026.