EnSilica (ENSI) H2 2026 earnings summary

Executive summary

• FY26 marked a move into profitability, with revenue of £27.8m, EBITDA of £5.9m and year-end cash of £7.6m.

• Five chips are in long-term supply, with 14 more in design; lifetime supply visibility is $375m and the sales and opportunities pipeline exceeds $600m, both management estimates.

Financial highlights

• Revenue rose 53% YoY to £27.8m from £18.2m; gross profit increased to £9.6m from £7.3m.

• EBITDA was £5.9m; operating profit was £2.9m versus an operating loss of £2.6m in FY25.

• Other income increased to £4.2m from £1.6m, including grant income related to the C-LEO UKSA modem project and RDEC tax credit.

Outlook and guidance

• Guidance reconfirmed at revenue of £32–34m and EBITDA of £5.5–6.5m.

• Increasing recurring chip supply revenue and contracted NRE are expected to support near-term cash generation.

• Targeting 4–5 new design and supply contract wins annually; chips moving into recurring supply are expected to lift EBITDA margin toward the 30% target.

• Two tape-outs completed in FY26, three completed in FY27 and a further two expected to complete in FY27.