CML Microsystems (CML): GNSS design and supply contract
This situation live
CML CML Microsystems
18 Nov 2025 · Work commenced; early milestones completed · −27% until the next step
The initial two-to-three-year design period will pave the way for substantial product sales, where CML's ability to meet stringent manufacturing requirements and provide long-term supply chain resilie
1 Apr 2026 · NRE income lifting H2 revenue, diluting margin · +34% until the next step
The resulting revenue mix has reduced our second half operating margin due to a greater share of lower‑margin non‑recurring engineering (NRE) income, predominantly associated with the GNSS contract an
17 Jun 2026 · Design phase underway; NRE income diluting margin · +9% since
The initial two-to-three-year design phase is well underway and will pave the way for substantial product sales
GNSS design and supply contract
Design phase underway; NRE income diluting margin
Next: design phase completes, then substantial product sales
Every step · 3
- 18 Nov 2025 Work commenced; early milestones completed – The initial two-to-three-year design period will pave the way for substantial product sales, where CML's ability to meet stringent manufacturing... ↗
- 1 Apr 2026 NRE income lifting H2 revenue, diluting margin – The resulting revenue mix has reduced our second half operating margin due to a greater share of lower‑margin non‑recurring engineering (NRE) income,... ↗
- 17 Jun 2026 Design phase underway; NRE income diluting margin – The initial two-to-three-year design phase is well underway and will pave the way for substantial product sales ↗
What is happening
CML Microsystems: GNSS design and supply contract – Design phase underway; NRE income diluting margin. ['Design phase underway; NRE income diluting margin']
- Announced
- 18 Nov 2025 · Work commenced; early milestones completed
- Latest
- 17 Jun 2026 · Design phase underway; NRE income diluting margin
- What it changes
- H2 revenue recovery and FY27 growth expectation hold, but FY26 closed with a £1.93m pre-exceptional operating loss, 63% margin and no statutory profit, as the April ~£1.8m expectation fell away on accounting treatment.
What comes next
design phase completes, then substantial product sales.
From the company's own announcements. Not investment advice.
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Insider conviction1 director buying – £400k in 1 buy
Disposal of a part (break-up)Surplus land disposal – Oval Park land sold; Meon House leased with option
Upgrade / downgrade cycleSecond-half recovery – H2 revenue recovered; year still loss-making at operating level
Insider conviction1 director buying – £52k in 1 buy · closed
Insider conviction1 director buying – £20k in 1 buy · closed
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