LONDON (ShareCast) - (Sharecast News) - EnSilica said in an update on Thursday that it achieved solid strategic progress in the year ended 31 May, securing new design wins and expanding its chip-supply revenues, although overall sales fell due to delays on customer projects.
At the company's annual general meeting, chair Mark Hodgkins said EnSilica won six new ASIC design mandates during the period, highlighting robust demand and its positioning within the semiconductor supply chain.

He added that chip-supply revenue "almost doubled", reflecting more customer programmes moving from development into production.

However, total revenue declined after customers postponed work on two contracted projects, delaying associated non-recurring engineering income.

Hodgkins said EnSilica expected its increasing mix of supply revenues to "provide a natural buffer against the inherent lumpiness of the NRE revenues" as production ramps.

The company reported a growing pipeline across satellite communications, industrial markets and cybersecurity applications.

Hodgkins said expected lifetime production revenues from chips already in supply and existing design contracts had risen to around $250m, with a further $469m of opportunities being actively pursued.

He added that the momentum "underpins the board's confidence in the group's near- to medium-term prospects."

EnSilica highlighted progress in the space sector, securing two new feasibility programmes for satellite user terminals and advancing three studies for satellite payload ASICs.

The AIM-traded firm also passed a milestone of more than 10 million ASICs shipped into a premium automotive manufacturer's vehicles.

Hodgkins noted that EnSilica had recently been awarded a UK government contract to develop a quantum-resilient secure processor for critical infrastructure, describing it as "another key differentiator for the company".

He also pointed to recent contract wins, including a $1.4m satellite payload deal and a €0.87m agreement, which give the group contracted visibility over more than 95% of consensus revenue expectations for 2026.

EnSilica "remains well placed to achieve our 2026 financial year guidance," he said.

The chair concluded that the group is "well placed as a premier European chipmaker with global reach" and thanked staff for their contribution, saying their "hard work, diligence and commitment have been fundamental to the progress we have made and to the opportunities now ahead of us."

At 1511 GMT, shares in EnSilica were up 6.73% at 38.96p.

Reporting by Josh White for Sharecast.com.

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