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Ilika (IKA) investor relations material
Ilika H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 earnings summary17 Jul, 2025
Executive summary
Focused on solid state battery development with two product lines: Stereax (miniature batteries for medical/IoT) and Goliath (large format for automotive/consumer appliances).
Asset-light, licensing-based business model with proven processes and a patent portfolio of 78 patents.
Stereax partnership with Surtech Medical progressing, with equipment commissioned and production to commence, targeting commercial delivery by late 2025.
Goliath achieved industrial scale-up validation at UK BIC, with customer prototype validation and further scale-up planned.
Financial highlights
Revenue for the year was £1.1M, down from £2.1M year-over-year, mainly due to timing of grant-funded projects ending.
Commercial income from Goliath prototype sales began, marking early revenue generation from product development.
EBITDA loss increased year-over-year, driven by reduced grant income; cost base remained stable.
Cash balance at year-end was £8M, rising to over £11M after a successful, oversubscribed fundraise.
Outlook and guidance
Stereax production and revenue initiation expected in the second half of the year, with ramp-up as volumes increase.
Goliath to release larger prototypes for customer evaluation later in the year, with commercial discussions anticipated as scale-up continues.
Additional grant funding of £1.25M secured to support prototype production and scale-up.
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Frequently asked questions
Ilika plc is focuses on solid-state battery technology, focusing on the development and commercialization of batteries for a wide range of applications. The company's technology includes thin-film Stereax batteries, designed for powering implantable medical devices and industrial wireless sensors (IIoT) in specialist environments. Additionally, Ilika is advancing its large-format Goliath cells, aimed at electric vehicles (EVs) and cordless appliances. The benefits of Ilika's solid-state batteries include high energy density, fast charge rates, long cycle and storage life, and a non-flammable safety profile. Ilika plc is headquartered in Romsey, United Kingdom, and its shares are listed on the London Stock Exchange.
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