Filtronic (AIM:FTC), the AIM-listed designer and manufacturer of advanced RF solutions for space, aerospace, defence and telecoms markets, has won a new millimetre-wave connectivity contract and issued a pre-results trading update showing adjusted EBITDA for FY2026 will come in slightly ahead of market expectations, with revenue in line.
Subject to audit, the board expects to report revenue of at least £55.5m and adjusted EBITDA of at least £11.1m for the year ended 31 May, with cash at bank of £13.4m and net cash of £11.3m excluding right-of-use property leases.
The newly announced contract covers a design-stage engagement in a high-bandwidth, low-latency millimetre-wave connectivity programme, with revenue expected to be recognised in FY2027; it is described as a precursor to potential volume manufacture.
"The additional US contract announced today reflects the strength of our customer relationships and reinforces the expanding opportunity landscape for our specialist complex RF technologies," said chief executive Nat Edington.
Filtronic said customer concentration with its largest customer reduced further during FY2026, aided by expanding relationships across space and defence, including the previously announced multi-year $62.5m GaN E-band contract with SpaceX.
The company enters FY2027 with an order book already covering 90% of consensus revenue for the year.
Full-year results for the year ended 31 May will be published on 4 August.
