Earnings release
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RNS Trading Statement TRADING UPDATE ENSILICA PLC Released 07:00:09 07 April 2025 RNS Number : 8879D EnSilica PLC 07 April 2025 The information contained within this announcement was deemed by the Company to constitute inside inform UK Market Abuse Regulation. 7 April 2025 EnSilica plc ("EnSilica", the "Company" or the "Group") Trading Update EnSilica plc (AIM:ENSI), a leading chip maker of mixed signal ASICs (Application Specific Integ the following trading update for the year ending 31 May 2025 ("FY 2025" or the "Period"). Driven by strong customer demand, the Company successfully secured six new design and supply c months of this financial year with Non-Recurring Engineering ("NRE") revenues of more than $4 across the next 2 financial years, as well as other multi-million-pound design and manufacturing serv of these wins, the total lifetime revenue from supply contracts is now expected to generate over $2 revenues. Furthermore, the revenues generated from the supply of chips, that underpins the fabless semicon expected to double to approximately £6 million in FY 2025 compared to the prior year. Despite these successes and as highlighted as a potential issue in the Company's announcement Company has experienced two customer delays that will materially reduce NRE revenues in the c NRE revenues are the fees charged to customers for the design of their chips, including high-value c and other significant third-party costs. The two contracts are: · The ASIC design and supply agreement with SIAE MICROELETTRONICA, announced i was anticipated to deliver significant NRE revenues and EBITDA in FY 2025, is now exp 2025-04-07 09:57 Trading Update - 07:00:09 07 Apr 2025 - ENSI News article | London Stock Exchange https://www.londonstockexchange.com/news-article/ENSI/trading-update/16976576 1/3
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FY 2026 and FY 2027 due to customer delays beyond EnSilica's control. SIAE MICROEL leader in wireless communication technology with a complete range of microwave an solutions. SIAE MICROELETTRONICA have been selected to receive €149 million in European Union's IPCEI funds (Important Project of Common European Interest). The A EnSilica is a key element of a product being developed using their grant funding. · The high-value tape-out of an Edge AI chip, announced in July 2024, is now expected to com FY 2026. The large part of the associated NRE revenue for these services are only recogn chip, reducing the expected revenue for FY 2025 by approximately £4 million and EBIT million. While the delay to the development schedule is on the customer side, the tape-out and completion is a priority for them. Importantly, the anticipated revenue from these contracts is unchanged, however, the impact fr Company now anticipates revenues of between £19 million and £20 million and EBITDA betwe million for FY 2025. Outlook The Board is focused on scaling the business and is confident of doing so given the strength o However, predicting the timing of contract completions that include customer dependencies has pro by the delays in the current financial year. In response, the Company has adopted a more con guidance to allow greater flexibility for project completions. To that end, the Board now expec between £33 million and £35 million in FY 2026, with approximately 80% of FY 2026 revenue al customer contracts. With a strong NRE order book coupled with increasing profits from chip supply, the Board is con capital to reach positive cash generation at the end of financial year 2026. Leading to this point, th month-on-month increases in revenues, as customer activities increase in line with recent cont Group's ongoing working capital requirements and improving the Group's overall positive cash posit Ian Lankshear, CEO of EnSilica, commented: "Over the first ten months of the current financial year we've secured six major new contracts, contracted supply revenues to over $250 million. This strong booking performance underscores leading ASIC supplier in Europe. That said, the delays to the two contracts are obviously disappointing, particularly as these a reducing our reported results for this year but importantly not the performance of the business over t We have revised our future guidance to reflect a more conservative outlook of the timing of our grow emphasise that we remain fully confident that EnSilica is still strongly positioned to deliver s shareholders." For further information please contact: EnSilica plc Ian Lankshear, Chief Executive Officer Kristoff Rademan, Chief Financial Officer www.ensilica.com via Vigo Consulting +44 (0)20 7390 0233 Allenby Capital Limited, Nominated Adviser & Joint Broker Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Joscelin Pinnington / Tony Quirke (Sales & Corporate Broking) +44 (0)20 3328 5656 info@allenbycapital.com Singer Capital Markets, Joint Broker Rick Thompson / Asha Chotai +44 (0)20 7496 3000 Vigo Consulting (Investor & Financial Public Relations) Jeremy Garcia / Kendall Hill / Anna Stacey +44 (0)20 7390 0233 ensilica@vigoconsulting The person responsible for arranging release of this announcement on behalf of the Company Executive Officer. About EnSilica plc EnSilica is a leading fabless design house focused on custom ASIC design and supply for OEMs and IC design services for companies with their own design teams. The company has world-class expe RF, mmWave, mixed signal and digital ICs to its international customers in the automotive, 2025-04-07 09:57 Trading Update - 07:00:09 07 Apr 2025 - ENSI News article | London Stock Exchange https://www.londonstockexchange.com/news-article/ENSI/trading-update/16976576 2/3
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communications markets. EnSilica has a track record in delivering high quality solutions to dema The company is headquartered near Oxford, UK and has design centres across the UK and in Bangalo and Campinas, Brazil. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END TSTDBGDSBUGDGUL London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply. © 2025 London Stock Exchange plc. All rights reserved. 2025-04-07 09:57 Trading Update - 07:00:09 07 Apr 2025 - ENSI News article | London Stock Exchange https://www.londonstockexchange.com/news-article/ENSI/trading-update/16976576 3/3