REG - Filtronic PLC - Largest contract award to date with SpaceX

FiltronicAnnouncement

Tue 07:00

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RNS Number : 0952M  Filtronic PLC  10 June 2025

10 June 2025

Filtronic plc

("Filtronic" or "the Company")

 

Largest contract award to date with SpaceX

 

Reinforcing Filtronic's growing reputation within the high-growth space market

 

Filtronic plc (AIM: FTC), the designer and manufacturer of advanced RF
solutions for the space, aerospace and defence, and telecoms infrastructure
markets, is pleased to announce the award of a follow-on order from SpaceX for
the supply of its market-leading E-band Cerus 32 Solid State Power Amplifier
("SSPA"). The irrevocable order is the largest in value to date, worth $32.5
million (£24.0m), and is expected to be materially fulfilled in FY2026.

 

This award reflects the strength and continued success of Filtronic's
Strategic Partnership with SpaceX, the leading Low Earth Orbit technology
provider. Consequently, the Board is now confident the Company will exceed
current revenue expectations for FY2026. Given the cadence of orders the
Company has received, Filtronic continues to invest in its technology roadmap,
across a range of products, given the sizeable market opportunity.

 

Share Warrants

 

The order has been placed under the framework of the Strategic Partnership,
specifically relating to the extension signed in March 2025, and vests all
10,949,079 warrants relating to that agreement, representing 5% of the current
share capital of the Company.

 

As a consequence of this vesting, warrants over 21,805,054 ordinary shares
have now vested representing 9.96% of the Company's issued share capital.
Warrants over a further 4.96% of the issued share capital remain unvested and
subject to meeting certain criteria in relation to new technology.

 

Nat Edington, Chief Executive Officer, said: "We are delighted to have secured
our largest order to date with SpaceX, reinforcing Filtronic's growing
reputation for delivering high-performance RF solutions to the high-growth
space market. This milestone builds on the momentum of recent contract awards
and highlights the progress we are making as we expand in key strategic
markets."

 

 

Enquiries:

 Filtronic plc                                                 Tel. 01740 618800 or
 Nat Edington (Chief Executive Officer)                        investor.relations@filtronic.com (mailto:investor.relations@filtronic.com)
 Michael Tyerman (Chief Financial Officer)

 Cavendish Capital Markets Limited                             Tel. 020 7220 0500
 Jonny Franklin-Adams, Isaac Hooper, Trisyia Jamaludin (Corporate Finance)
 Sunila de Silva (Corporate Broking)

 Alma Strategic Communications                                 Tel. 020 3405 0205 or filtronic@almastrategic.com

 Caroline Forde, Hannah Campbell, Rose Docherty

 

Note: This announcement contains inside information which is disclosed in
accordance with the Market Abuse Regulation.

 

 

About Filtronic:

 

Filtronic is at the leading edge of advanced microelectronics globally,
specialising in the design and manufacture of mission-critical communication
networks. Operating from two global manufacturing sites and three engineering
centres of excellence, the company delivers solutions that span the full RF
spectrum. An extensive patent portfolio highlights Filtronic's ongoing drive
for innovation and technological leadership.

 

With a track record of over 45 years', Filtronic's technology is trusted
across high-performance sectors including space, aerospace, defence, telecoms
infrastructure and critical communications. The company develops core IP
building blocks and transforms them into highly customised solutions for
high-growth target markets. Filtronic's expertise enables seamless data
transmission, delivering greater bandwidth, lower latency and enhanced
connectivity.

 

Filtronic has successfully coupled this engineering expertise with investment
in state-of-the-art production equipment that enables the rapid transition of
a turn-key solution from product development to full scale, high-quality
manufacturing, at volume. The strategic markets of LEO space, aerospace and
defence are the focus of current product development programmes,
where Filtronic can add significant value, realise long term sustainable
margins and deliver shareholder value.

 

Headquartered in Sedgefield, UK, Filtronic is listed on the AIM market of
the London Stock Exchange.

 

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