EnSilica
ENSI · AIM · Technology · mcap £101m · 74.0p 3 open situations →
- EV
- £96.2m
- EV / EBIT
- 33.1x
- Net cash
- £3.1m
- FCF yield
- -2.0%
- Revenue
- £27.8m
- Share price 1y
- +73%
- Insiders 12m
- no deals
- Next report
- around 2 Feb
EnSilica designs custom and standard chips (ASICs) for automotive, industrial, satellite and telecoms customers, earning design fees and then recurring chip supply revenue. It is based in the UK and trades on AIM.
Open · 3
Space communications ASIC pipeline
Follows from Equity fundraise up to £10m – Described as completed; £10m raised, closed 23 Jun 2026
Space comms pipeline grew from a US$1.4m development order in Nov 2025 and $6.8m NRE contracts announced on 23 Apr 2026. The 22 Jul 2026 €1.1m ASSP follow-on and the 3 Aug 2026 €1.7m payload ASIC contract followed. The 5 Oct 2026 results confirm both closed from the July raise. They also cite two satellite-operator chip contracts potentially worth over $50m from 2030 and a new Milan centre.
- Scope
- System architecture, signal processing algorithms and systems demonstrator device 3 Aug 2026 ↗
- New project
- 5G-aNTeNna, led by Silicon Austria Labs, six European partners, targeting EU IRIS² constellation 3 Aug 2026 ↗
- EnSilica role
- Provides the key satellite user terminal ASSPs in the project 3 Aug 2026 ↗
- Follow-on orders
- €1.1m for the satellite communications ASSP 5 Oct 2026 ↗
- Second-phase contract
- €1.7m satellite payload ASIC 5 Oct 2026 ↗
- Potential value
- Two development contracts with a European satellite operator, potentially over $50m from 2030 onwards 5 Oct 2026 ↗
- 5 Oct 2026 Follow-on orders closed; development under way
- 5 Oct 2026 Follow-on orders closed; space market seen growing fivefold
- 3 Aug 2026 Second-phase payload ASIC contract won; 5G user terminal project joined
- 22 Jul 2026 Follow-on ENS92040 ASSP orders received
German automotive chip supply contract
On 1 June 2026 EnSilica announced a 7-year manufacturing and supply contract for an Arm-based sensing chip. The 5 Oct 2026 results restate the roughly $75m win as the largest automotive win to date. About $4m of revenue is expected in FY27.
- Customer
- German manufacturer of automotive components (unnamed) 1 Jun 2026 ↗
- Strategic benefits
- Tier 1 German supply chain link, more wafer volume, VDA-aligned quality standard 1 Jun 2026 ↗
- Tape-out
- Completed 11 June 2026, after year end 5 Oct 2026 ↗
- NRE and fee
- US$5m, recognised across FY26 and FY27 5 Oct 2026 ↗
- Supply potential
- Up to an estimated US$50m over five years 5 Oct 2026 ↗
- Next milestone
- First silicon samples anticipated in 2026 23 Jun 2026 ↗
- 5 Oct 2026 Reported as largest automotive win
- 5 Oct 2026 Tape-out done; volume production expected 2027
- 23 Jun 2026 Tape-out done; slipped from FY26 into FY27
- 11 Jun 2026 Production tape-out completed; tooling and samples next
FY25 ASIC contract wins tape-outs
DSIT awarded a £5m Contract for Innovation in November 2025 for a secure processor ASIC, with Stage 1 (£1.5m) due by March 2026 and Stage 2 (£3.5m) by March 2028. The half-year results restate the award, with no new milestone. Stage 2 remains subject to the break clause.
- Contract value
- £5 million from DSIT
- Stage 1
- £1.5m, specification and prototype, to March 2026
- Stage 2
- £3.5m, verification and silicon implementation, to March 2028
- 3 Feb 2026 Test-chip and prototype work under way
- 13 Nov 2025 Contract awarded; Stage 1 starting
- 4 Nov 2025 timing controller test-chip taped out Aug 2025
- 3 Nov 2025 progressing, on track to tape-out
Closed · 3
Company filings. Not investment advice.