Space and aerospace comms and tech supplier, and recently appointed SpaceX partner Filtronic has reported soaring revenues in its latest trading update, with FY2025 revenue expected to hit £56.3m, a 120% jump.
Both revenue and adjusted EBITDA are expected to beat market expectations, according to the update from the Sedgefield firm..
The board expects to report FY2025 revenue of approximately £56.3m (FY2024: £25.4m) and adjusted EBITDA of no less than £16.6m (FY2024: £4.9m). Cash at bank on 31 May 2025 was £14.5m (30 November 2024: £7.2m). Net cash (net of all lease obligations except right of use property leases) at 31 May 2025 was £12.3m (30 November 2024: £5.1m).
Key operational highlights included:
- The transformation of the business continued in FY2025, resulting in a 120% increase in revenue to £56.3m, building on the 56% growth achieved in FY2024, with expanded go to market capabilities, increased innovation capacity and widening customer engagement.
- Broadening customer engagement, across the European space and Aerospace and Defence markets
- Successful recruitment in H2 FY2025 has enabled the Company to service more customers on new programmes.
- Alongside its continued successful engagement with its lead space customer, Filtronic is pleased to see its engagement with the more established segments of the European space market moving forward in recent months, announcing contract wins with Viasat and the European Space Agency, supplying technology for the direct to device market, in addition to an order to supply Airbus for its system on the OneWeb constellation.
- Within the Aerospace and Defence market a recent £0.8m order from Leonardo reflects a deepening relationship and entry into a new project. Rising European defence spending coupled with macro tailwinds such as RF engineering shortages, demand for sovereign capability, and market convergence further strengthen Filtronic’s position in this sector
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Tech developments at the group are also proceeding at pace, with encouraging results on chipset developments for new frequency bands. The Group expects that some of these developments will be ready by calendar Q1 2026.
Filtronic was delighted to launch its ground-breaking Prometheus V-band Amplifier at the IMS industry show in the USA earlier this month. The product represents a major technological advancement for long-range mission critical satellite communications, particularly with regards to ground station uplinks, providing higher bandwidth, increased capacity and data rates than the lower mmWave frequency bands currently adopted by the wider market.
It added that a healthy order book provides significant order coverage as the company commences the new financial year which, coupled with a growing pipeline, leaves the business in a strong position to meet market expectations for FY2026.
Nat Edington, CEO, said: “We are delighted with this strong trading performance, demonstrating our ability to ramp quickly and respond to market needs. This has positioned us well with our lead customer where there is strong alignment on rapid execution. We look forward to FY2026 with further optimism as we continue to invest in the business and capitalise on the expanding market opportunity in front of us. The focus will be on broadening the customer base, completing key technology developments and relocating our state-of-the-art manufacturing site in Sedgefield to a new facility at the same science park, doubling our operational footprint by doing so.”
Full results for the financial year ended 31 May 2025 will be announced on Tuesday, 29 July 2025.
