Filtronic - Record order from SpaceX

Hot on the heels of a $32.5m/£24.0m order in June, SpaceX has just placed a $62.5m/£47.3m order, the highest yet. This is for E-band solid-state power amplifiers (SSPAs) manufactured using gallium nitride (GaN) for delivery over FY27 and FY28. The strategic agreement has been revised to include GaN-based product in the second warrant tranche and for warrants to vest with product delivery rather than order receipt. We maintain our forecasts, with the order providing significant coverage of our FY27 revenue estimate.

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