ASIC Contract Extension

RNS Number : 7252V

EnSilica PLC

11 April 2023

 

Prior to publication, the information contained within this announcement was deemed by the group to constitute inside information for the purposes of regulation 11 of the market abuse (amendment) (EU exit) regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

11 April 2023

EnSilica plc

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

ASIC Contract Extension

EnSilica extends scope of an existing ASIC contract,

increasing royalty revenue forecast by up to $10 million

EnSilica, a leading mixed signal chip maker, is pleased to announce that it has extended the scope of work with an existing customer in the communication market for additional ASIC design and production support ('the Contract').

The Contract is now anticipated to generate an additional $1.3 million in revenue from design and production work over the course of the Company's current financial year (ending 31 May 2023) and across the 2024 financial year.

The Company also expects to realise first royalty revenues from the Contract in December 2024, with total customer forecasted royalties over the following five years now estimated to increase from $5 million to $15 million over this five-year period. 

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

"We are delighted to have extended the scope of our work with a highly valued customer to now include additional design and production support. This Contract is a credit to the strength of our multidisciplined engineering team in delivering complex communication ASICs, including both RF and digital processing functionality, and serves as further evidence of the successful implementation of our strategy to generate long-term, reoccurring revenues streams for the business."

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.

 

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