Filtronic (FTC) Q4 2026 TU earnings summary

Executive summary

• Secured a second contract with a US-based customer for satellite technology, valued at $0.5m, following a previous $8.0m contract, reinforcing presence in the satellite communications market.

• FY2026 performance slightly exceeded expectations on adjusted EBITDA, with revenue in line with forecasts, driven by robust execution and customer diversification.

• Completed new headquarters and manufacturing facility, now fully operational and supporting future revenue growth.

Financial highlights

• Expected FY2026 revenue of at least £55.5m and adjusted EBITDA of at least £11.1m.

• Cash at bank was £13.4m; net cash (excluding right of use property leases) was £11.3m.

• Customer concentration with the largest customer reduced, increasing order visibility.

Outlook and guidance

• Entering FY2027 with a strong order book covering 90% of consensus revenue.

• Multi-year order coverage with the primary customer and ongoing engagement with major space and defence clients.

• Board expresses confidence in capturing significant future opportunities and sustained value creation.