Expansion with US Defence & Aerospace Customer
Ethernity Networks Ltd has announced an expansion with a U.S. Tier-1 defence and aerospace customer, generating $0.2 million in revenue during Q1 2026 from product enhancement work following a $1.3 million licence agreement. The company anticipates between $0.8 million and $1.0 million in enhancement-related revenue for FY2026 from this customer, who has begun shipments of their platform incorporating Ethernity's IP and is evaluating an additional platform. This ongoing engagement provides increased near-term revenue visibility and potential for further platform expansion.
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Ethernity Networks Limited (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances and PON, provides an update on its engagement with its Tier-1 U.S. defence and aerospace customer (the "Customer").
Following completion of the original $1.3 million single-platform licence agreement (as announced on 28 March 2025) in August 2025, the Company has continued to generate revenue through product enhancement work for the Customer during the remainer of 2025.
During Q1 2026, Ethernity has recognised $0.2 million in revenue from this programme. Based on the agreed development roadmap, the Company expects enhancement-related revenue from this Customer to be in the range of $0.8 million to $1.0 million for FY2026, providing increased visibility on near-term revenues.
In addition, the Customer has commenced shipments of its platform incorporating Ethernity's IP and is evaluating expansion to an additional platform. While discussions are ongoing, any additional licence agreement would represent incremental revenue beyond amounts set out above.
The Company continues to work closely with the Customer on a phased enhancement programme throughout 2026.
David Levi, CEO, commented:
"This Tier-1 Customer continues to provide both near-term revenue visibility and potential for further platform expansion. The progression from initial deployment to ongoing enhancement work supports our strategy of deepening engagements with high-value customers."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.