AIM-listed Filtronic, the advanced micro electronics firm, secured a $32.5 million follow-on order from SpaceX for its E-band Cerus 32 Solid State Power Amplifier.
This is Filtronic’s biggest contract to date under the two firms’ strategic partnership.
The order represents a significant milestone for the company, which serves the space, aerospace, defence, and telecoms infrastructure markets. Most of the contract value is expected to be fulfilled during the 2026 financial year. The Filtronic board now expects to exceed current revenue forecasts for FY2026.
Filtronic shares were 8% higher at the time of writing.
SpaceX, Elon Musk’s space exploration and services company, has maintained a strategic partnership with Filtronic that has steadily grown and now makes up a substantial part of Filtronic’s orderbook.
The contract triggers the vesting of 10,949,079 share warrants under the strategic partnership framework. These warrants represent 5% of Filtronic’s current share capital.
Combined with previous vestings, warrants over 21,805,054 ordinary shares have now been activated, representing 9.96% of the company’s issued share capital. Additional warrants covering 4.96% of issued shares remain unvested, subject to meeting certain criteria.
“We are delighted to have secured our largest order to date with SpaceX, reinforcing Filtronic’s growing reputation for delivering high-performance RF solutions to the high-growth space market. This milestone builds on the momentum of recent contract awards and highlights the progress we are making as we expand in key strategic markets,” said Nat Edington, Chief Executive Officer of Filtronic.
Today’s deal follows another recent contract win from Airbus.