Filtronic secures $68.1m follow-on order from SpaceX

(Sharecast News) - AIM-listed Filtronic announced on Thursday that it has secured a $68.1m follow-on order from SpaceX for the supply of its Cerus E-band gallium nitride (GaN) Solid State Power Amplifier (SSPA) units. This is the largest order received from SpaceX and follows the $62.5m order announced last August for the company's next-generation, proprietary GaN E-band technology.

The new order is expected to be materially fulfilled in FY2028, "underpinning the board's expectations for FY2028, providing stronger visibility over future revenues".

Chief executive Nat Edington said: "This follow-on order from SpaceX, is another significant milestone for Filtronic, providing extended order visibility and coverage over the next couple of years.

"This order provides further evidence of the growing importance of GaN technology in high-frequency communications and reinforces Filtronic's position at the leading edge of this transition. This order also provides significant revenue visibility into FY2028 and beyond, representing another important step for the business but also the continued development of our partnership with SpaceX."

At 1315 BST, the shares were up 5.6% at 251.49p.

Edison said: "These contracts combined with the recent wins with an unnamed US satellite customer highlight the company's strong position at the leading edge of the satellite communications market."

See latest RNS on Sharecast