EnSilica secures follow-on $2.4m contract

EnSilica PLC

01 September 2023

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation

1 September 2023

EnSilica plc

("EnSilica", the "Company" or the "Group")

EnSilica secures follow-on $2.4m contract with an existing customer

EnSilica (AIM: ENSI), a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has secured a contract with an existing Europe-based customer for approximately $2.4 million (the "Contract").

This most recent award with a longstanding EnSilica customer is for the development of a next generation advanced networking ASIC.

The majority of the Contract revenue will be realised in the Company's current financial year ending 31 May 2024 ("FY 2024"), further supporting management's confidence in EnSilica's ability to deliver FY 2024 revenue and EBITDA in line with current market expectations.

The Company expects to announce its audited results for the financial year ended 31 May 2023 ("FY 2023") in early October 2023 in line with market expectations.

Ian Lankshear, Chief Executive Officer of EnSilica plc, commented:

"We are delighted to have been awarded this further contract with a valued and longstanding EnSilica customer, strengthening our ongoing association with them and demonstrating their continuing confidence in our design and delivery capabilities. The award also reinforces our ongoing confidence in both the business and our capabilities, ensuring EnSilica continues to trade comfortably in line with market consensus for the current financial year."

For further information please contact:

EnSilica plc Ian Lankshear, Chief Executive Officer www.ensilica.com	Via Vigo Consulting [phone]
Allenby Capital Limited, Nominated Adviser & Broker Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Joscelin Pinnington / Tony Quirke (Sales & Corporate Broking)	[phone] [e-mail]
Vigo Consulting (Investor & Financial Public Relations) Jeremy Garcia / Kate Kilgallen	[phone] [e-mail]

About EnSilica

EnSilica is a leading fabless design house focused on custom ASIC design and supply for OEMs and system houses, as well as IC design services for companies with their own design teams. The company has world-class expertise in supplying custom RF, mmWave, mixed signal and digital ICs to its international customers in the automotive, industrial, healthcare and communications markets. The company also offers a broad portfolio of core IP covering cryptography, radar, and communications systems. EnSilica has a track record in delivering high quality solutions to demanding industry standards. The company is headquartered near Oxford, UK and has design centres across the UK and in Bangalore, India and Porto Alegre, Brazil.

 

END