EnSilica (ENSI): Space communications ASIC pipeline

This situation live

ENSI EnSilica

£109m · 75.0p · +74% since the first step

3 Nov 2025 · three feasibility studies and two new C-LEO contracts · −15% until the next step EnSilica is currently engaged in three feasibility studies for satellite payload ASICs, with two for major satellite service operators and one for a satellite payload supplier.

24 Nov 2025 · Feasibility converted to US$1.4m development order · +38% until the next step Execution of the Order will commence next month, with the associated Non-Recurring Engineering ("NRE") revenue recognised within the current financial year.

3 Feb 2026 · US$1.4m development order in progress · −4% until the next step Receipt of a $1.4 million purchase order to progress a satellite payload ASIC into its next development phase, following completion of an initial feasibility study

12 Mar 2026 · Fundraise to fund user-terminal chips · +43% until the next step The Company has experienced significant momentum in the satellite communications sector.

23 Apr 2026 · Two development contracts signed with European operator · +14% until the next step The programme is expected to progress through phased development over the next two and a half years, with initial NRE revenues starting this financial year, followed by long-term semiconductor supply

22 Jul 2026 · Follow-on ENS92040 ASSP orders received · −2% until the next step It is also one of the ASSPs identified for further investment as part of the Company's recently announced equity fundraising.

3 Aug 2026 · Second-phase payload ASIC contract won; 5G user terminal project joined · +6% until the next step Building on the feasibility study, EnSilica will develop the system architecture, signal processing algorithms and systems demonstrator device required before the ASIC enters the full development phas

5 Oct 2026 · Follow-on orders closed; space market seen growing fivefold · −10% since Two opportunities identified during the July fundraise have been closed: €1.1 million of follow-on orders for our satellite communications ASSP; and a €1.7 million second-phase satellite payload ASIC

5 Oct 2026 · Follow-on orders closed; development under way · −10% since Two opportunities identified during the July fundraise have been closed: €1.1 million of follow-on orders for our satellite communications ASSP; and a €1.7 million second-phase satellite payload ASIC

Segment turn

Space communications ASIC pipeline

Follow-on orders closed; development under way

Every step · 9

3 Nov 2025 three feasibility studies and two new C-LEO contracts – EnSilica is currently engaged in three feasibility studies for satellite payload ASICs, with two for major satellite service operators and one for a... ↗
24 Nov 2025 Feasibility converted to US$1.4m development order – Execution of the Order will commence next month, with the associated Non-Recurring Engineering ("NRE") revenue recognised within the current financial year. ↗
3 Feb 2026 US$1.4m development order in progress – Receipt of a $1.4 million purchase order to progress a satellite payload ASIC into its next development phase, following completion of an initial feasibility study ↗
12 Mar 2026 Fundraise to fund user-terminal chips – The Company has experienced significant momentum in the satellite communications sector. ↗
23 Apr 2026 Two development contracts signed with European operator – The programme is expected to progress through phased development over the next two and a half years, with initial NRE revenues starting this financial year,... ↗
22 Jul 2026 Follow-on ENS92040 ASSP orders received – It is also one of the ASSPs identified for further investment as part of the Company's recently announced equity fundraising. ↗
3 Aug 2026 Second-phase payload ASIC contract won; 5G user terminal project joined – Building on the feasibility study, EnSilica will develop the system architecture, signal processing algorithms and systems demonstrator device required... ↗
5 Oct 2026 Follow-on orders closed; space market seen growing fivefold – Two opportunities identified during the July fundraise have been closed: €1.1 million of follow-on orders for our satellite communications ASSP; and a €1.7... ↗
5 Oct 2026 Follow-on orders closed; development under way – Two opportunities identified during the July fundraise have been closed: €1.1 million of follow-on orders for our satellite communications ASSP; and a €1.7... ↗

What is happening

EnSilica: Space communications ASIC pipeline – Follow-on orders closed; development under way. ['Follow-on orders closed; development under way']

In short: 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.
Announced: 3 Nov 2025 · three feasibility studies and two new C-LEO contracts
Latest: 5 Oct 2026 · Follow-on orders closed; development under way
Scope: System architecture, signal processing algorithms and systems demonstrator device
New project: 5G-aNTeNna, led by Silicon Austria Labs, six European partners, targeting EU IRIS² constellation
EnSilica role: Provides the key satellite user terminal ASSPs in the project
Follow-on orders: €1.1m for the satellite communications ASSP
Second-phase contract: €1.7m satellite payload ASIC
Potential value: Two development contracts with a European satellite operator, potentially over $50m from 2030 onwards
Market view: Serviceable user terminal silicon opportunity grows around fivefold 2025-2030 to over $3bn
Capacity: Space and Communications Semiconductor Centre of Excellence opened in Milan

Briefing

EnSilica in 4 minutes

EnSilica designs custom chips for satellite, automotive, industrial and photonics customers. It makes no chips itself, and its sites are near Oxford, in the UK, India, Brazil and Hungary. In the year to May 2026 it...

Act 1Growth on contract wins, funded by small raises
Act 2FY25: the forecast missed by a wide margin
Act 3FY26: profit, cash and two fundraisings

Read the briefing →

From the company's own announcements. Not investment advice.

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