EnSilica PLC continues to strengthen its market position in the global Application-Specific Integrated Circuit (ASIC) landscape, achieving notable milestones in the first half of 2025. The company has secured significant contracts across automotive, industrial, healthcare, and satellite connectivity sectors, positioning itself for substantial growth in a market projected to reach $25 billion by 2030.
Despite a modest 3% decrease in overall revenues to £9.3 million, EnSilica has shown remarkable progress in product supply revenue, experiencing a 170.3% year-over-year increase to £2.9 million. The company currently has four ASICs in production and eight more in the design phase, indicating a strong pipeline of potential revenue streams.
Key contract achievements include a £10.4 million match funding from the UK Space Agency, a partnership with Oriole Networks Ltd as its ASIC partner, a follow-on contract with Siemens, and a substantial telecommunications ASIC design and supply contract valued at over $30 million across ten years. These diverse contract wins demonstrate EnSilica's versatility and potential for sustainable revenue generation.
The company's strategic investments in research and development, coupled with partnerships with industry leaders like TSMC, continue to enhance its competitive edge. Management remains optimistic, targeting £6.0 million in supply revenue and maintaining expectations of positive EBITDA for the fiscal year.
Stonegate Capital Partners' valuation analysis suggests a share price range between £0.86 and £0.99, with a midpoint of £0.92, reflecting confidence in the company's current trajectory and future potential.
