Ilika (IKA) H2 2026 TU earnings summary

Executive summary

• Achieved first commercial revenues from Stereax electrodes through a manufacturing partnership with Cirtec Medical, marking a key milestone in commercialization.

• Expanded Goliath battery applications, securing validation from automotive customers and entering new markets such as defense and e-bikes.

• Maintained a robust pipeline with 27 evaluation agreements globally with OEMs and Tier 1 suppliers.

Financial highlights

• Expected FY26 revenues of approximately £1.1m, flat year-over-year (2025: £1.1m).

• Commercial revenue from Stereax electrode sales contributed £100k.

• EBITDA loss (excluding share-based payments) widened to approximately £6.2m from £5.2m in FY25.

• Cash and cash equivalents at period end were £5.3m, down from £8.0m at 30 April 2025.

Outlook and guidance

• Full year audited results for FY26 to be announced on 29 July 2026.

• Continued focus on commercializing Stereax and expanding Goliath applications in automotive, defense, and consumer sectors.