UK's Ilika FY revenue flat, adjusted EBITDA loss widens
UK's Ilika FY revenue flat, adjusted EBITDA loss widens
Overview
UK solid state battery maker's FY revenue was flat yr/yr at £1.1 mln
Adjusted EBITDA loss widened to £6.2 mln as production and R&D costs rose
Company raised £5 mln post-period to accelerate Stereax and Goliath commercialisation
Outlook
Ilika expects increased Stereax product revenue through its licensing agreement with Cirtec
Company aims to realize initial royalty payments for Stereax via delivery of M300 batteries
Ilika plans to validate Goliath 10Ah MVP and generate early revenue from non-EV battery sales
Result Drivers
PRODUCTION SCALE-UP COSTS - Increased production and R&D costs for Stereax and Goliath lines contributed to wider losses as sample output rose to support product testing and customer evaluation
STEREAX COMMERCIAL TRANSITION - Stereax line moved to initial commercial deliveries and began generating product revenue through partnership with Cirtec
GOLIATH PROTOTYPE DEPLOYMENT - Goliath line shipped higher-capacity 10Ah prototypes to customers for evaluation, expanding agreements beyond automotive to defence and e-bikes
Company press release: ID:nRSc2566Oa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
FY Revenue |
| GBP 1.10 mln |
|
FY Loss Per Share |
| GBP 0.04 |
|
FY Adjusted EBITDA |
| -GBP 6.20 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for Ilika PLC is GBp118.00, about 314% above its July 28 closing price of GBp28.50
Reuters Recommended Reads
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July 28 - UK's Creo Medical H1 revenue rises 45%
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)