IQE (LSE:IQE) reported revenue of £64.6 million for the first half of 2026, an increase of 43%, as sales across its photonics and wireless operations grew during the period.
Adjusted EBITDA was £6.0 million, compared with a negative result in the prior period. The compound semiconductor materials supplier also moved from an adjusted net debt position to adjusted net cash of £30.2 million following its strategic review and fundraising.
IQE said it maintained disciplined capital expenditure during the period while improving manufacturing utilisation and production yields.
The company reported increased demand for Indium Phosphide and other compound semiconductor materials used in areas including AI data centres, defence and advanced sensing.
IQE also entered into a number of new long-term supply agreements during the period, which the company said have increased visibility over future orders.
Management expects full-year 2026 revenue growth of more than 30%, maintaining its growth outlook following the first-half performance.
Separately, IQE plans to move its shares to the Main Market of the London Stock Exchange by 2027. The company said the proposed move is intended to broaden its investor base and increase liquidity.
More about IQE plc
IQE plc is a Cardiff-based supplier of compound semiconductor wafers and advanced materials used across photonics, wireless and power applications.
Its technologies include Indium Phosphide, Gallium Nitride and Gallium Arsenide, with applications across AI and data centres, consumer electronics, aerospace and defence, communications infrastructure, automotive and industrial markets.
The company supplies wafers and epitaxy solutions used in optical communications, sensing, radio-frequency and power devices.
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