26 August 2025

Filtronic plc

("Filtronic" or "the Company")

Filtronic secures $62.5m order with SpaceX for next generation technology  

High power GaN solution to enhance low Earth orbit satellite connectivity

Filtronic plc (AIM: FTC), the designer and manufacturer of advanced RF solutions for the space, aerospace and defence, and telecoms infrastructure markets, is pleased to announce that it has secured its largest single order to date of £47.3m ($62.5m) from SpaceX, for the Company's next generation, proprietary gallium nitride ("GaN") E-band product.

The first production units from this contract will ship in FY2027 and are expected to deliver material revenues in FY2027 and FY2028. In recognition of SpaceX agreeing to this substantial order of new technology, the warrants relating to the original Strategic Partnership agreement for next technologies (Tranche 2) have been extended to include E Band GaN alongside other bands in development. The vesting criteria has also been amended to double the volume of products required for full vesting and now vests on product delivery rather than on the placement of the purchase order, ensuring closer strategic alignment in the outlook period.

The contract is the first GaN product from Filtronic's next generation product lines, delivering more than double the output power of the existing gallium arsenide ("GaAs") product line. GaN processes enable higher power, improved efficiency, and greater thermal performance-critical advantages for satellite communications and aerospace and defence applications.

The successful development of this GaN solution reflects Filtronic's technical leadership and ability to overcome complex design and manufacturing challenges associated with high-power mmWave systems, including advanced packaging and thermal management. The result is a high-performance product that sets a new benchmark for size, weight, power, and cost ("SWaP-C") in this frequency domain.

Nat Edington, Chief Executive Officer, said: "We are extremely proud to announce this landmark contract, which not only sets a new commercial record for Filtronic, but also reflect the success of our partnership with world-leading satellite company SpaceX, supporting the Starlink constellation. GaN represents a transformative opportunity for the ground segment of LEO communications, and this contract is further testament to the world-class engineering talent of both teams working together."

Mike Nicholls, VP Engineering Starlink, said: "Filtronic is a valuable partner to SpaceX, and has been an important contributor to the rollout and success of the Starlink constellation. This next generation technology will provide further benefits to our system and our customers' experience, and we're excited to enter this next phase with Filtronic."

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Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

About Filtronic:

Filtronic is at the leading edge of advanced microelectronics globally, specialising in the design and manufacture of mission-critical communication networks. Operating from two global manufacturing sites and three engineering centres of excellence, the company delivers solutions that span the full RF spectrum. An extensive patent portfolio highlights Filtronic's ongoing drive for innovation and technological leadership.

With a track record of over 45 years', Filtronic's technology is trusted across high-performance sectors including space, aerospace, defence, telecoms infrastructure and critical communications. The company develops core IP building blocks and transforms them into highly customised solutions for high-growth target markets. Filtronic's expertise enables seamless data transmission, delivering greater bandwidth, lower latency and enhanced connectivity.

Filtronic has successfully coupled this engineering expertise with investment in state-of-the-art production equipment that enables the rapid transition of a turn-key solution from product development to full scale, high quality manufacturing, at volume. The strategic markets of LEO space, aerospace and defence are the focus of current product development programmes, where Filtronic can add significant value, realise long term sustainable margins and deliver shareholder value.

Headquartered in Sedgefield, UK, Filtronic is listed on the AIM market of the London Stock Exchange.