Radio frequency equipment maker Filtronic has landed its largest order yet from high profile customer SpaceX, worth about $32.5m (£24.0m).
The County Durham-based designer and builder of components for the space, aerospace and defence, and telecoms infrastructure markets says the latest follow-on order from the US rocket company will see it beat full-year revenue expectations of £55m. The deal will see Filtronic supply its E-band Cerus 32 Solid State Power Amplifier kit, which can boost low-power radio frequency signals for 5G and advanced wireless communications systems delivered through satellites.
Filtronic bosses said the latest deal shows the strength of their relationship with Elon Musk's multibillion-dollar company, with a flurry of orders allowing it to invest in its low earth orbit technology and tackle a significant market opportunity. Shares rose on the news, which followed an £800,000 contract secured with defence firm Leonardo, announced in recent days.
Nat Edington, chief executive officer at Filtronic, said: "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."
The fresh order comes under the terms of Filtronic's strategic partnership agreement with SpaceX, secured last year and extended in March which sees it supply vital equipment for the Starlink constellation of low earth orbit satellites delivering internet connectivity in hard to reach areas of the world. It vests all 10,949,079 warrants relating to the agreement - 5% of the current share capital of Filtronic - which would give SpaceX the opportunity to acquire a stake.
Following this vesting, warrants of more than 21.8 million ordinary shares have vested, representing 9.96% of the company's issued share capital. And warrants over another 4.96% of the issued share capital are still unvested and subject to conditions relating to new technology.
Filtronic has enjoyed a fast rise in recent months with bosses providing a significant earnings expectation upgrade only last month, which has now been surpassed with this latest deal. Bosses of the London-listed firm, which also has a base in Leeds, said the momentum was likely to continue into the 2026 financial year as new contracts emerge with new and existing customers.
Filtronic has doubled its manufacturing capacity at its NETPark, County Durham, home - a move which is intended to keep it at the forefront of the highly specialised, high-frequency RF and mm-Wave communications technology market.
