Revenue and EBITDA Reach New Highs
EnSilica (LSE:ENSI) reported a record performance for the year ended 31 May 2026, with revenue increasing 51% to £27.5 million and EBITDA rising to £4.7 million.
The company also strengthened its financial position through an oversubscribed £10 million equity fundraising, providing additional resources to support its growth strategy and expanding semiconductor supply operations.
Management said the results reflect continued progress in transforming the business from a pure design services provider into a semiconductor design-and-supply platform capable of generating recurring long-term revenue streams.
Lifetime Supply Revenues Continue to Expand
A key driver of growth was the continued expansion of EnSilica’s semiconductor supply business.
The group reported a 50% increase in lifetime supply revenues to $375 million, highlighting growing demand for its application-specific integrated circuits (ASICs) across multiple end markets.
At the same time, the company’s sales pipeline expanded to approximately $600 million, spanning opportunities in the space, industrial and automotive sectors.
Management believes this growing pipeline provides strong visibility for future revenue growth and supports the long-term scalability of the business.
Shift Toward Supply Model Gains Momentum
EnSilica’s strategic transition towards a design-and-supply model continued to gather pace during the year.
The company now has five ASIC products in volume production, creating recurring semiconductor supply revenues alongside its traditional design activities.
Several additional chip programmes are expected to move into production over the coming years, further increasing the contribution from higher-margin supply contracts.
Management views this transition as a significant step in improving the predictability and profitability of the business.
Strong Order Book Supports FY27 Expectations
The company issued positive guidance for FY27, forecasting revenue of between £32 million and £34 million and EBITDA of £5.5 million to £6.5 million.
EnSilica noted that approximately 80% of expected FY27 revenue is already secured through existing contracts and customer orders.
This visibility is supported by a number of significant project wins, including satellite communications programmes and automotive semiconductor contracts.
Management believes the high level of contracted revenue provides a solid foundation for continued growth in the year ahead.
Space and Automotive Opportunities Offer Further Upside
Several space-focused semiconductor programmes are still in development and have yet to make a meaningful contribution to financial performance.
As these projects move into production and supply phases, management expects them to become increasingly important revenue drivers.
The company also continues to benefit from growing demand for specialised semiconductors in automotive and industrial applications, where customers require high levels of reliability, safety and long-term product availability.
These markets remain a central focus of EnSilica’s growth strategy.
Outlook Supported by Recurring Revenue Growth
EnSilica believes the increasing contribution from semiconductor supply revenues will support both earnings growth and margin expansion over time.
The company is seeking to build a more balanced revenue mix, combining engineering services with recurring product supply income generated from long-term customer relationships.
Management expects this model to enhance profitability, improve cash generation and strengthen the group’s competitive position in specialist semiconductor markets.
Outlook Reflects Growth Potential Despite Ongoing Challenges
While EnSilica has delivered strong operational progress and significant revenue growth, investors continue to assess the company’s path towards sustained profitability and stronger cash flow generation.
Technical indicators remain supportive following recent share price momentum, although some measures suggest the stock may be approaching overbought territory.
The absence of a dividend and the company’s ongoing investment requirements remain considerations, but management believes the expanding supply business and growing order book provide a compelling platform for future growth.
More about EnSilica
EnSilica is a UK-based fabless semiconductor company specialising in the design and supply of application-specific integrated circuits for communications, industrial, automotive and space applications.
The company develops complex mixed-signal, RF, mmWave and digital semiconductor solutions, leveraging proprietary intellectual property and reusable design platforms. Its business model combines chip design services with long-term semiconductor supply contracts, creating recurring revenue opportunities across specialised, high-growth markets where performance, security and reliability are critical.
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