H1 FY 2026 Trading Update

EnSilica plc (AIM: ENSI), a leading fabless chipmaker of mixed signal ASICs (Application Specific Integrated Circuits), provides the following update on trading for the six months ended 30 November 2025 ("H1 FY 2026" or the "Period").

H1 FY 2026 Update

The Company is pleased to report that it generated solid new business momentum across the Period alongside producing strong levels of Non-Recurring Engineering ("NRE") and recurring supply revenue from existing contracts, delivering revenue growth in excess of 35 per cent during the Period on a like for like basis.

Key highlights include:

• Maintained strategy focus on high-growth, differentiated, technology-led end markets
• Increasing traction within the satellite communications, 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

As a result of the strong trading achieved in the Period, the Board is confident of the Company achieving H1 FY 2026 revenues of around £12.7 million (H1 FY 2025: £9.3 million) and EBITDA profits of around £1.7 million (H1 FY 2025: EBITDA loss of £0.2 million), with the significant improvement in EBITDA profitability driven by the increased levels of NRE and supply revenues. The Group's cash balance at 30 November 2025 was £2.0 million (31 May 2025: £2.0 million).

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.

Ian Lankshear, CEO of EnSilica, commented:

"With business already booked to support £28 million to £30 million of revenue in FY 2026, and with several customer chip tape-outs scheduled for the second half of the financial year, we expect FY 2026 revenues to be weighted towards the second half.

Looking beyond FY 2026, the depth, quality and duration of our contracted and pipeline programmes point to a level of long-term value that is not yet fully evident in our near-term financials. As these programmes progress from design through tape-out into sustained production, our highly scalable model and underlying quality of the business will become increasingly apparent."